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Essay / Research Paper Abstract
This 8 page paper provides an overview of health care and its costs. How supply and demand enters into the picture is the focus of this paper. Bibliography lists 6 sources.
Page Count:
8 pages (~225 words per page)
File: RT13_SA247SaD.rtf
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Unformatted sample text from the term paper:
demand has something to do with it. After all, when supply is low, and demand is high, costs escalate. But of course, that is not exactly what goes on here.
It is not as if there is price gouging occurring in the industry, at least not on purpose. Rather, the entire health care delivery system is in question because hospitals
blame uninsured patients as well as insurance companies. Insurance companies blame the rising costs for the increase in premium. Whatever they do, by and large, health insurance is a losing
proposition for most insurance companies and is just offered in order to gain business in other insurance sectors. In view of all of this, it is clear that health care
costs continue to escalate and the exact cause is hard to discern. Henry Ford Health System, Michigans second-largest hospital company, had tried to cut costs for five years
by improving medical-supply purchasing and refining staffing levels (Barkholz, 2001). There are also more important improvements necessary for health care firms to eke out the 2 %
and above operating margins just to keep up with building maintenance and the growing demands for new medical technology and drugs (2001). Hence, one sees in this example that patients
and physicians demand the newest and latest technologies but many insurance companies will not pay. Consumers also want choice and there are many insurance firms advertising choice in respect to
PPOs as opposed to making them take an HMO where their health care is tightly managed. Supply is tough as insurance programs which are affordable and offer the latest
advances at reasonable prices are hard to find. Every year, employers who supply health insurance have to make difficult choices. More likely than not, each year, companies are faced with
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