If we did change over to socialized medicine, a lot of factors would cause negative effects in our economy. Many developed countries outside of the United States have higher tax rates than us, that might change if we choose socialized medicine, , "In 2006 U.S. taxes at all levels of government claimed 28 percent of GDP, compared with an average of 36 percent of GDP for the 30 member countries of the Organization for Economic Co-operation and Development (OECD)" (Williams). Privatized business competition would die out, , " With a public plan in the mix, there's no way to run a side-by-side competition that would be fair to private insurers”, said Karen Ignagni, chief executive of the health-insurance lobby America's Health Insurance Plans (AHIP)..." (Clemmit). Government workers claim socialized medicine is completely optional; it is unlikely that businesses could keep going while they are competing with socialized medicine. People would be forced to pay for healthcare whether they wanted it or not, and businesses
Small providers are less likely to have done any preparatory work digitizing their records compared to their larger counterparts. Implementing an EMR system also requires physicians and other health care workers to change the way they work. It will cost a lot to train them. 4. What are the business and social benefits of digitizing medical record keeping?
Judging on the past of health care and the major developments that have been made in the last 150 years, the economics of it all have also changed dramatically. The demand for health care is nowhere near meeting the supply, struggling with retaining employees and offering efficient care all over the world. The health care economy is the most grossing industry in the United States, with a gross domestic product of 3.5 trillion dollars. With results like that, elasticity in health care seems somewhat unheard of. The need for health care is dire, yet the prices just increase.
Health insurance is a system of pooling risks so that the financial burden of medical care is dispersed among many buyers: some require more health care, therefore incurring higher medical costs, while most individuals are rather healthy and incur less medical costs. It is difficult to predict who will incur higher costs, so insurance companies shift funds from those who are healthy to those who are unhealthy. Insurance companies spread the risk among similar buyers to effectively prevent losses, due to differential cost of providing coverage and the customers search for the lowest prices insurance companies need to set different premiums
The U.S. prices should fall as countries like India offer their services cheaper compared to them. It would require that the Americans should have more disposable income which could then be spent in other part of the economy. d) Who might benefit from the globalization of health care? Who might lose? The increasing health care cost is likely to continue to put pressure on the industry to find cheaper alternatives to handling not only direct patient care,
However, working adults can use the benefits of the medical insurance, which will give them an opportunity for a decent medical service and reduce the general taxation burden. The issue of health care throughout the years has been a major issue in the society in the United States and it is one of the most important aspects of an election campaign of any political party. One issue concerning healthcare is that it is very expensive and more than 52 million people do not have any coverage or they have less adequate coverage. In addition, it is very important for people to have coverage for general healthcare maintenance and just in case, something drastic occurs, in their life. A well-organized, efficient health care system is not that easy to provide and one of the key problems on the way to the ideal hospitals and medical help is proper funding.
It boasts of the best hospitals, research institutions and competent and highly skilled personnel in the world, yet it is among the countries that perform poorly amongst industrialized nations in terms of long-term care. Its healthcare system is inefficient, bureaucratic, and divided. This has been contributed by misconceptions across the American population concerning healthcare issues (Malhotra, 2010). Some of these are: U.S. has the best healthcare system globally; healthcare rationing is impossible in America; many migrants are in the United States because of healthcare; immigrants are the cause of rising healthcare costs and socialized medicine is not
What are the pluses and minuses of each? Which do you think would come closest to addressing the gap between the rich and poor and increase access to health care? (10 pts.) For Profit The health care advisers were getting paid more for finding instances where someone would not be able to get health insurance or to terminate the person’s health insurance. Not for profit They care for patients and not their wallets.
Medicaid major weakness is it is more costly than Medicare, and in order for married individuals to receive Medicaid they must be financially broke. Studies have shown that Medicaid has more of a commitment in providing health care access than Medicare. However, the requirements for Medicare do not change as often as the requirements for Medicaid. A major similarity between Medicare and Medicaid is that they are both funded by
Universal Healthcare would lower the mortality rate in the United States by solving the problem of the uninsured and the underinsured, as well as halt rising healthcare costs in the U.S. In addition, the consumer-driven healthcare system we now utilize reflects the uneven distribution of power