Economic Terms and Health Care History

Economic Terms and wellness Care History In this paper the author will describe the history of wellness aid economicals along with the phylogeny and timeline of health care funding. Gaining insight from economical terms can assist with reason the history and future changes; terms such as, elasticity, inelasticity, supply and demand. Health care costs are changing over the days and by understanding the history of health care economics will help individuals be prepared for future amendments. History, evolution and timeline of funding. Economics in the United States (US) health care is experiencing transformations during the wrangle of history. Previously, the economical changes in health care may be due to the evolutionary modifications in the US. The key contributing causes for economic health care changes are the advancement of technology and how health check treatment is offered. In the late 1800s is when America began to trance the formation of medical profession. The education practices for physician became formal and arrangements for infirmary structures began (Wasley, 1993). By the early 1900s America was the largest population to strike hospitals. However during this time the U.S.

encountered an economic decline that involved a stock market crash; this incident was known as the Great Depression. The appearcome of this event made it hard for American citizens to pay for their medical care. Hospitals with higher fixed cost had slight flexibility for longanimouss than doctors who made allowances for financially stricken. The hospitals come down in patient payment went from receiving $200 for each patient to $60 per patient. The reduction in funds caused hospitals to seek out insurance policy plans. The plans would help the hospital have a fast cash flow without having financial problems later (1993). The creation of insurance plans was done in several different cities by non-profit-making hospitals. To strengthen the income and increase patient... If you want to get a adequate essay, order it on our website: Orderessay

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