Health Care Economics Essay Example

Health Care Economics Paper Almost all current factors influencing health care, such as, increasing medical care service demand, pharmaceutical prices, medical care organizations’ competition and medical care experts’ remuneration,   involve economics. Absence of comprehension regarding fundamental economic standards leads to erroneous decision-making by making persons develop opinions on the basis of feelings and feelings as opposed to logical economic standards (Schafermeyer, 2000). The health care structure in America to some extent represents the principles, aims, and beliefs found in free-market industrialist financial systems governed by contention. We will write a custom essay sample on Health Care Economics specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Health Care Economics specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Health Care Economics specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Physicians’ competition occurs locally for principal care doctors and amongst specialists on broader geographical extents. Medical doctors and associated practitioners also do compete, for instance, between optometrists and ophthalmologists as well as between psychologists and psychiatrists. Administered care arrangements depict lesser medical care service (tests and hospitals) utilization. Physician conduct is one factor affecting medical care and thus competition as well occurs in location, professional conduct plus waiting duration. The conduct of big urban plastic surgeons, for instance is significantly different compared to country pediatricians’. Therefore, demeanor is linked with health care options, costs, payments, and services. Demeanor is as well linked to state public medical care funding and physician education (Fisher, 2006). The economic law that states that a demand curve slopes downwards is probably the most fundamental of economic principles. It implies that demanded quantity decreases with increasing commodity prices. Demand curves have commodity prices on the perpendicular axes, commodity quantities on horizontal axes, and negatively inclined lines illustrating the relationship between the two entities. Other factors influence commodity demand with Income being probably the most apparent factor in general. Regarding health care, another key aspect is persons’ health condition. Reduced health Care is demanded when health conditions improve. Elevated revenue moves demand curves away from the origins for normal commodities, and reverses to the origins for inferior commodities. Improved health moves demand curves back inwards (Fisher, 2006). Reports regarding a vicious fresh influenza will lead to increased flu medication demand, thus making demand curves shift outwards. This implies that increased flu medication is needed compared to previous figures for every price. Flu medication demand also demonstrates seasonal patterns by moving outwards with the approach of fu periods. Alternatively, many health services’ demand curves sift outwards with Age. Outward demand curve movement implies that, for whatever price stage, there is increased demand following shifts as compared to demand levels at such prices prior to the movement. Demand curves shift as a   reaction to entities different from price, or, as a reaction to factors influencing demand that are not explicitly represented on a single of the graph axes. Such movement is referred to as demand change. Following price change, movement is made from a single demand curve point to a different same curve point. This implies movement happens the length of such curve, however, the curve position, in relation to axes, remains constant. Such an alteration is called demanded quantity change. Therefore, price changes leads to demanded quantity changes and changes in other factors, causing demand curve shifts, leads to demand alteration. Learning the behavior of demand when one decisive factor is altered is vital. Elasticity is a standard responsiveness measure. Commodity price demand elasticity is calculated as a proportional alteration in demanded quantity divided by the proportional price alteration that led to the demanded quantity modification. Since demanded quantity and price are always inversely proportional, own-price demand elasticity always is negative. A minus (-) 3 elasticity implies that a 1% price elevation leads to a 3% demanded quantity reduction (Greenberg, 2002). Demand is regarded as being elastic when own-price demand elasticity is bigger than 1 in total values. Alternatively, when own-price demand elasticity is smaller than 1 in complete value, such demand is regarded as being inelastic. With demand elasticity amounting to minus (-) 1, such demand curves are said to depict unit elasticity. Linear demand curves, having constant curve slopes, have elasticity changing with movement along the demand curves. With extremely low prices, demand becomes inelastic; high prices depict elastic demand. Starting with extremely reduced prices, thus large demanded quantities, and raising such prices, shifting upwards and towards the left along demand curves, demand elasticity progressively shifts from inelastic towards elastic, intersecting at the curve midpoint. Such point’ demand elasticity becomes unitary (Ferguson, 2002). Calculated commodity demand elasticity thus depends on the prices where such calculation was done. High prices lead to increased demand elasticity, although commodity nature remains constant. However, Consumer reactions to price alteration do change; increasing prices makes consumers increasingly responsive to additional alterations. Demand elasticity also influences commodity nature. General doctors’ services demand is very elastic (approximately -0.2) in America. Demand for a specific doctor’s services is much more, (approximately -3.0). The disparity arises due to the fact that for particular physician services, generally additional alternative supply sources are available, as compared to general physician services. Visit demand generally is quite inelastic, however specific physician’s visit demand is somewhat extra elastic owing to presence of different supply sources like walk-in hospitals and crisis rooms (Fisher, 2006). User charges imposed on every office-category visits have comparatively little influence on demanded quantity, however, charges imposed on office-category visits to crisis rooms have greatly bigger influence as regards minimizing demanded quantity since3 it prompts persons to adjust from looking for assistance at crisis rooms and seek such from different sources.

Healthcare Administration Degree Best Careers and Schools

Healthcare Administration Degree Best Careers and Schools SAT / ACT Prep Online Guides and Tips Are you considering a job in healthcare administration? It’s a rapidly growing field that pays well and gives you the opportunity to help patients and make the medical process easier for them. However, you need to have the proper education to work in this field. What healthcare administration degree do you need to get the job you want? Once you have your health administration degree, what jobs can you get? How much money can you make? Is a bachelor’s degree in healthcare administration enough or do you need to get a master’s? And if you decide to get your degree online, what are the best programs available? This guide will answer all your questions! What Is a Healthcare Administration Degree? If you’re interested in healthcare but think you’d prefer the business side, you may want to look into getting a healthcare administration degree. People who work in healthcare administration handle the work that goes on mostly behind the scenes to ensure that people get the care they need as quickly and smoothly as possible. Their roles can include handling patient insurance forms in a nursing home, explaining the best way for a business to sell medical devices, managing workers in a hospital, and more. To work at many of these jobs, you’ll need a health administration degree. Healthcare administration can be a complicated and technical field, and since making a mistake with someone’s insurance or medical records can have potentially disastrous consequences, it’s critical that you’re properly trained. When you start a healthcare administration degree program, you’ll learn everything you need to know to succeed in these positions, from proper medical billing, to how insurance works, to managing other employees, and even classes in anatomy and health so you have a solid understanding of healthcare. What Jobs Can You Get With a Healthcare Administration Degree? A healthcare administration degree qualifies you for healthcare jobs in many areas. You may work in a hospital, laboratory, government agency, or a private business. Some jobs focus a lot on billing and insurance while others emphasize management and organizing other employees or organizations. There are dozens of positions you are eligible for with a healthcare administration degree, and below we give descriptions of five of the most common. Salary data is from PayScale. Medical Office Manager People in this position typically work at doctor offices, where they are in charge of making sure the entire office runs smoothly. This may include supervising staff, making sure all paperwork is filed correctly, handling issues with insurance that arise, and making sure appointments are managed in an organized way. Average annual salary: $48,252 Healthcare Consultant Healthcare consultants provide advice to businesses that want to learn more about healthcare, potentially because they work with healthcare specialists or sell healthcare products. The healthcare consultant will conduct research and analyze data to help the business determine the best ways it can meet its goals. Average annual salary: $76,661 Community Support Manager If you get a job as a community support manager, you’ll be responsible for helping develop and implement programs to improve the health of both individuals and communities. You’ll likely collaborate often with other healthcare professionals, including doctors, nurses, dietitians, and social workers, to develop plans that improve all aspects of health for the person or group you’re focusing on. Average annual salary: $46,452 Healthcare Human Resources Manager At this position, your duties will primarily consist of overseeing employee pay, benefits, trainings, and hirings. It’s similar to a general HR manager position, but you’ll have special training for doing these duties in the healthcare field. Average annual salary: $65,298 Insurance Specialist These employees contact insurance companies on behalf of patients and doctors, work with medical records, deal with coding and billing, and overall make sure insurance benefits and payments are being properly applied. Average annual salary: $59,994 Should You Get an Associates, Bachelors or Masters Degree in Healthcare Administration? There are three types of healthcare administration degrees: associate, bachelor, and master. Which degree should you get? That depends a lot on how quickly you want to begin working and the types of jobs you’re looking for. Most people will get a bachelor’s degree in healthcare administration, since that qualifies you for most jobs in this field, but read on to learn how long each degree takes to get and which jobs it’ll qualify you for. Associate Degree in Healthcare Administration 60 credits Usually takes two years to complete An associate degree in healthcare administration qualifies you for some entry-level admin jobs at hospitals, nursing homes, or other medical practices, however; other entry-level jobs, especially those at hospitals, will require a bachelor’s degree. You’ll take classes in medical terminology, business administration, medical ethics, and healthcare management, among other topics. Bachelor Degree in Healthcare Administration 120 credits Usually takes about four years to complete A bachelor degree in healthcare administration opens up far more job opportunities than you’d get with an associate degree alone. During your four years of study, you’ll study healthcare administration in-depth and learn the ins-and-outs of record keeping, medical law, HR management, medical accounting, anatomy, and other subjects. You may also choose to specialize in a certain area, such as emergency health, home care health, or others. With a bachelor health administration degree, you’ll be qualified for all entry-level healthcare administration jobs, and if you can enough experience, you can eventually move on to more advanced positions, such as departmental leadership jobs. Master’s Degree in Healthcare Administration 32-60 credits Usually takes about two years to complete Most healthcare administration jobs don’t require anything higher than a bachelor degree, but if you are hoping to obtain a leadership position in a large practice, such as a hospital or another organization with executive management, having a master’s degree will help you achieve those goals. Graduate classesin healthcare administration will place more of an emphasis on business and administration leadership, as well as classes in strategic planning and more technical areas of healthcare. With a Master’s in healthcare administration, you’ll be qualified for nearly all leadership positions in healthcare administration (as long as you also have enough relevant experience). What Are the Best Healthcare Administration Degree Online Programs? Like other online degree programs, online degrees in healthcare administration have seen a huge increase in popularity in the past few years. Online degrees are often much easier to obtain for people who wouldn’t have the time, money, or ability to attend on-campus classes. However, some online degree programs are little more than diploma mills, so if you decide to get your healthcare administration degree online, you need to make sure it’s from a legitimate school, otherwise you’ll have an extremely difficult time finding a job. You should only enroll in a school that is accredited. This information is typically found on the school’s website, but if you can’t find it, a simple Google search of â€Å"[school name] accreditation† should give you your answer. Also read reviews of other students who have gotten their healthcare administration degree online from the school to learn what they think about it and if they’d recommend the program to others. To make your search a little easier, here is a list of three of the best online bachelors of healthcare administration degree programs. You can feel confident you’re getting a good education at any of these schools, but they definitely aren’t the only good options available, so make sure you do some research before deciding on a school. Colorado State University Fort Collins, Colorado Degree offered: Bachelor of Science in Healthcare Administration Tuition cost: $350 per credit hour What makes it stand out: CSU is one of the most affordable online healthcare administration degree programs, and there are no additional out-of-state tuition fees. Additionally, CSU has a very flexible course schedule. Every class is offered every semester, and there are accelerated courses offered throughout the year if you want to finish a certain class more quickly. University of Central Florida Orlando, Florida Degrees offered: Bachelor of Science in Health Services Administration, Bachelor of Science in Health Informatics and Information Management Tuition cost: $212.28 per credit hour (in-state) or $748.89 per credit hour (out-of-state, and before tuition reductions) What makes it stand out: UCF has a rigorous curriculum, including multiple specialization opportunities and a capstone experience in healthcare administration, to ensure you’re prepared for whatever job you get after graduation. It also gives out-of-state online students a discount so their tuition so their cost of attending is more affordable. University of Memphis Memphis, Tennessee Degree offered: Bachelor of Science in Health Studies (with a concentration in Healthcare Leadership) Tuition cost: $320 per credit hour (in-state) or $594 per credit hour (out-of-state) What makes it stand out: All healthcare administration students at the University of Memphis are required to complete an internship in healthcare leadership. This ensures they have real world experience before they graduate and will give them a leg up when applying to jobs. Summary: Health Administration Degree If you want to work in healthcare administration, you’ll need to have the proper degree. A healthcare administration degree can qualify you for many positions, ranging from jobs in nursing homes to hospitals to big businesses. A bachelor’s degree in healthcare administration is enough to qualify you for most jobs, but a Master’s degree in healthcare administration is needed for some leadership positions. There are online degree programs if you want to work in healthcare administration but, same as for all schools, make sure the school you decide to attend has a good reputation and will prepare you for the career you want. What's Next? Are there other science topics you want to review? Then you're in luck!Our guides will teach you loads of useful topics, includinghow to convert Celsius to Fahrenheitandwhat the density of water is. What are the most important science classes to take in high school?Check out our guide to learn all the high school classes you should be taking. Thinking about becoming a nurse practitioner?Read our guide on everything you need to know about the steps to becoming a nurse practitioner. Have friends who also need help with test prep? Share this article! Tweet Christine Sarikas About the Author Christine graduated from Michigan State University with degrees in Environmental Biology and Geography and received her Master's from Duke University. 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