BHAFPX 4108 Capella University The Supply and Demand of Health Care Paper

BHAFPX 4108 Capella University The Supply and Demand of Health Care Paper

BHAFPX 4108 Capella University The Supply and Demand of Health Care Paper

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Question Description

I need an explanation for this Health & Medical question to help me study.

Write 7-9 pages that compare different models of supply and demand, as well as analyze how legislation and reimbursement methods impact supply and demand for health care.

As we investigate the demand side of economics, we will analyze how need differs from demand and how this affects health care planning and policy. The patient often initiates demand; nevertheless, physician involvement has a considerable impact on demand. Because the patient relies on the provider for competence and medical advice, there is a risk that demand will rise. This is unique to the health care industry because consumers in other industries are not as reliant on the supply of a service when making a purchase.

The insurance company is another significant demand driver. Patients request health treatment but are not responsible for paying the bill, which has the potential to distort the demand curve. This is one of the concepts underlying high-deductible health care and the effort to reduce service consumption by making the patient pay for a larger portion of the entire expenditure. Finally, you will be given the opportunity to consider the consequences of free medical care and how it might affect demand for health care services.

The health care field, like the demand curve, poses distinct and exciting problems to the provision of health care. You will learn about economic efficiency and the influence of inefficiencies on costs. The production function, which is the link between the output of a product or service and the resources utilized to make it, will be investigated further (Feldstein, 2012). Competition, market structure, market performance, and governmental policies affecting the provision of health care services will also be explored.

The evolution of health care insurance has impact aspects health care economics such as price competition, medical loss ratios, and risk. As you prepare to complete the assessment consider the role that copays, coinsurance, and deductibles play on the demand curve and reflect on your opinions related to the effectiveness of high-deductible health plans in controlling the demand of health care services.

Reference

Feldstein, P. J. (2012). Health care economics (7th ed.). Clifton Park, NY: Delmar.

DEMONSTRATION OF PROFICIENCY

By successfully completing this assessment, you will demonstrate your proficiency in the course competencies through the following assessment scoring guide criteria:

  • Competency 1: Analyze historical perspectives and current trends in the health care industry.
    • Explain current legislative trends that influence the supply and demand of health care.
  • Competency 2: Assess the United States health care system from an economic perspective.
    • Compare and contrast the demand of health care services with the demand of an automobile.
    • Compare and contrast the supply of health care services with the supply of an automobile.
  • Competency 3: Analyze the evolving economic reimbursement trends, methods, and technology.
    • Analyze reimbursement methods that influence the supply and demand of health care services.
  • Competency 5: Communicate in a manner that is scholarly, professional, and respectful of the diversity, dignity, and integrity of others and is consistent with expectations for health care professionals.
    • Write following APA style for in-text citation, quotes, and references. BHAFPX 4108 Capella University The Supply and Demand of Health Care Paper
    • Write clearly and logically, with correct use of spelling, grammar, punctuation, and mechanics.
CONTEXT

The basic economic laws of supply and demand do not apply in the health care industry the same way they do in other industries. Some of the contributing factors are as follows: demand cannot be limited to only those with the ability to pay because health care is considered a basic human right (need versus demand), demand is increased due to a third party (insurance or government) that pays for the service, and our supply is limited due to a highly skilled human resource variable (physicians).

INSTRUCTIONS

In this assessment, you will consider these contributing issues and others that you identify in your research as they relate to the free market. Compare and contrast the laws of supply and demand of the health care industry with that of the automobile industry and explain how the economic structure of the health care industry is different from other industries. Reviewing the following media pieces may help to solidify your understanding of the economic concepts and industries relevant to this assessment.

Also, make sure to consult the scoring guide to make sure you are meeting the communication criteria and achieving at your desired rubric level.

  1. Compare and contrast the demand of health care services with the demand of an automobile (Competency 2).
    1. Identify the key contributing factors that determine demand of health care services.
    2. Identify the key contributing factors that determine demand of an automobile.
    3. Compare and contrast the similarities and differences of the demand curve of these two industries.
  2. Compare and contrast the supply of health care services with the supply of an automobile (Competency 2).
    1. Identify the key contributing factors that determine supply of health care services.
    2. Identify the key contributing factors that determine supply of an automobile.
    3. Compare and contrast the similarities and differences of the supply curve of these two industries.
  3. Explain current legislative trends that influence the supply and demand of health care (Competency 1).
    1. Explain how Medicare and Medicaid impact supply and demand of health care services.
    2. Discuss the impact of the uninsured population on the supply and demand of health care services.
  4. Analyze reimbursement methods that influence the supply and demand of health care services (Competency 3).
    1. Identify the stakeholders who pay for health care services.
    2. Analyze the impact of different reimbursement methodologies and payment models on the supply and demand of health care services.
  5. Write following APA style for in-text citation, quotes, and references (Competency 5).
    1. Determine the proper application of APA formatting requirements and scholarly writing standards.
    2. Assess the relevance and credibility of information sources.
  6. Write clearly and logically, with correct use of spelling, grammar, punctuation, and mechanics (Competency 5).
    1. Apply the principles of effective composition.
    2. Determine the proper application of the rules of grammar and mechanics.

SUBMISSION REQUIREMENTS

  • Written Communication: Prepare an assessment free of errors that detract from the overall message, with writing that is clear, precise, and scholarly. Concepts flow in a logical order.
  • References: Cite at least three references from peer-reviewed journals, in addition to your text.
  • Length: Submit 7–9 pages.
  • APA: Use correct APA style and formatting. You may wish to use or consult the following:
CRITERIA NON-PERFORMANCE BASIC PROFICIENT DISTINGUISHED
Compare and

contrast the demand

of health care

services with the

demand of an

automobile.

Does not compare

or contrast the

demand of health

care services with

the demand of an

automobile.

Compares but does

not contrast the

demand of health

care services with

the demand of an

automobile.

Compares and

contrasts the

demand of

health care

services with

the demand of

an automobile.

Compares and contrasts the

demand of health care services

with the demand of an

automobile and supports each

point with examples from the

readings.

Compare and

contrast the supply

of health care

services with the

supply of an

automobile.

Does not compare

or contrast the

supply of health

care services with

the supply of an

automobile.

Compares but does

not contrast the

supply of health care

services with the

supply of an

automobile.

Compares and

contrasts the

supply of

health care

services with

the supply of

an automobile.

Compares and contrasts the

supply of health care services

with the supply of an automobile

and supports each point with

examples from the readings.

Explain current

legislative trends

that influence the

supply and demand

of health care.

Does not describe

the legislative

trends that

influence the

supply and

demand of health

care.

Describes some of

the legislative trends

that influence the

supply and demand

of health care.

Explains

current

legislative

trends that

influence the

supply and

demand of

health care.

Explains current legislative trends

that influence the supply and

demand of health care and

provides relevant factors that

influence the trends.

Analyze

reimbursement

methods that

influence the supply

and demand of

health care services.

Does not analyze

reimbursement

methods that

influence the

supply and

demand of health

care services.

Analyzes one

reimbursement

method that

influences the supply

and demand of

health care services.

Analyzes

reimbursement

methods that

influence the

supply and

demand of

health care

services.

Analyzes reimbursement

methods that influence the supply

and demand of health care

services and describes the

impact .of different methods.

Write following APA

style for in-text

citation, quotes, and

references.

Writes without

following APA

style.

Writes mostly

following APA style

for in-text citation,

quotes, and

references, but there

are lapses in style

use.

Writes

following APA

style for in-text

citation,

quotes, and

references.

Writes following APA style for in-

text citation, quotes, and

references without errors, and

uses current reference sources.

Write clearly and

logically, with

correct use of

spelling, grammar,

punctuation, and

mechanics.

Writes with many

errors, making text

difficult to follow;

errors involve

spelling, grammar,

punctuation, and

mechanics.

Writes with few errors

that can make text

difficult to follow at

times; errors involve

spelling, grammar,

punctuation, and

mechanics.

Writes clearly

and logically,

with correct

use of spelling,

grammar,

punctuation,

and

mechanics.

Writes clearly and logically, using

evidence to support a central

idea, with correct use of spelling,

grammar, punctuation, and

mechanics; the paper contains

supporting examples for the main

points.

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