Health Care Economics Paper

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Economic Terms and Health Care History Rebecca Persinger HCS/440 February 13, 2012 Kathie Iaconetti History and Evolution of Health Care Economics Economics is a “social science concerned with the description and analysis of production, distribution, and consumption of goods, products, and services.” Resources are abundant in every economy, which include natural resources of capital, labor, and land but be fixed and limited because of their use to best satisfy society. A commodity range is produced to meet the unlimited wants of individuals in today’s society. Resources are limited and wants are unlimited, resulting in an economy problem of not producing products, services, and goods in an unlimited quantity (Getzen & Moore, 2007).…show more content…
The Affordable Care Act was established in 2010 creating help to lower insurance fraud and health care costs. With the Affordable Care Act, if insurance rates go down, this will create microeconomics because individuals who cannot afford health care will get it and jobs will be created (Rosoff, 2011). Macroeconomics will help the supply and demand area of health care because it will allow health care to expand to other countries for individuals in need. Physicians like the idea of going to another country and offering his or her services to those not able to get medical treatment (Walker,…show more content…
Health care insurance plans from HMOs and PPOs to indemnity plans have been born through supply and demand. The health care structure has changed many times over the years; however, the same principles have remained intact because health care coverage has always maintained the kind of coverage needed for a healthy society and given individuals the kind of health care he or she deserves. Individuals get health care about different levels because some maintain health insurance and others self-pay, but health care will always be driven by company profit margins and infrastructure. Large insurance companies such as Aetna, Health Net, and BlueCross were once small, but have evolved into a billion dollar empire with a mission (Walker,

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