Universal Health Care Efforts In The United States

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Health Care History The economics of health care are something not most people even consider when they think of health care. Health care has come a long way from the beginnings of the 1900’s. Although forms of medicine and health care are evident throughout history, it was nothing like it is today. The history and evolution of health care is quite remarkable, as well as, the major changes that have taken place in funding. History of Health Care The American Medical Association (AMA) formed in 1847. Within the first year of being established they created the standards for preliminary medical education and the degree of MD, as well as the AMA Code of Medical Ethics. The AMA alone, is responsible for creating and delegating much of the…show more content…
By the 1900’s the AMA is a powerhouse for the health care world and surgery becomes more widely used. In 1910 hospitals become institutions concerned with cleanliness, antiseptics and are using medication for pain relief. The argument for health insurance is bringing in more followers. Although the following grew larger, by 1920 there still was no big changes for health insurance (A Brief History: Universal Health Care Efforts in the U.S, 2015). In the 1930’s there was a want for health insurance, however, no attention was paid due to other priorities of the Roosevelt administration. Yet, the Social Security Act is passed, once The Depression is in full swing. The 1940’s held big changes for people due to World War II. Wage and price controls were set on American employers. This compelled the companies to offer health benefits, in order to win employees over. President Roosevelt asks Congress for an economic bill of rights, including the right to adequate medical care. Truman proposes at national health care plan but it is not even considered by Congress and the AMA. The 1950’s offered a private health insurance for those who could afford it, hospital costs doubled and medication to treat…show more content…
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. Inelasticity seems to better fit the industry, with the want and cost disproportioned. The microeconomics aspect of health care has a lot to focus on, most consumers make decisions based on quality, price and quantity. With the price of insurance and uninsured services so high, the quality and quantity could be there, but not the consumer. The price is a driving force for most consumers. The macroeconomics of health care can be summed up in a statement made by doctor named Brian Pereir, from Boston’s Tufts-New England Medical Center, “At what point does health care consume so much of our gross national product that it starts to rob us of other much needed services?” So much money and services are going into health care that is impedes on all other aspects of

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