Healthcare economics

Prior to engaging in this discussion, please review Chapters 6 and 9, read Chapter 10 in the text, and review any relevant Instructor Guidance. It is suggested that you review a few of the recommended articles to glean any helpful information. Supply and demand analysis aids health care leaders in ascertaining the effects of changes in policy on service lines that impact a communitys health (e.g., whether to expand existing services or perhaps close services). Identify and evaluate publicly available tools that provide data and assist in formulating the basic shapes of demand and supply curves. Communicate and elaborate on the relevance of these economic indicators in terms of pricing. Evaluate and comment on the social-cultural implications of value-based care.
text-
Lee, R. H. (2015). Economics for health care managers (3rd ed.). Chicago, IL: Health Care Administration Press. Retrieved from https://redshelf.com
Chapter 7: The Demand for Health Care Products
Chapter 10: Supply and Demand Analysis
Chapter 11: Maximizing Profits
          
Recommended Resources
Articles
Block, D. (2013). Disruptive innovation: Contributing to a value-based health care system. Physician Executive, 39(5), 46-52. Retrieved from the EBSCOhost database.
The article discusses how hospitals can use disruptive innovation to improve health care quality, safety and outcomes by reducing the costs of healthcare delivery. The author says health care delivery in the United States is at least 20 years behind the development of other industries in the country.
Ellis, R. P., & McGuire, T. G. (1993). Supply-side and demand-side cost sharing in health care. Journal of Economic Perspectives, 7(4), 135-151. Retrieved from the EBSCOhost database.
This article focuses on the supply side and demand side of cost sharing in health care. Ellis & McQuire (1993, p.137) states that economists and others concerned with health care policy have debated the meaning of “demand” in health care. After all, as Arrow (1963) emphasized early on, the relationship between patients and their physicians (and other health care providers) involves agency, information, trust, and professionalism. A key unresolved issue in health policy is the magnitude of this provider-induced demand, and how it is determined.
Heroman, W. M., Davis, C. B., & Farmer, J. L. (2012). Demand forecasting and capacity management in primary care. Physician Executive, 38(1), 30-34. Retrieved from the EBSCOhost database.
The article examines how a practical approach to demand forecasting and capacity management helps primary care clinics run smoothly and efficiently. The authors state that a demand forecast determines the gap relative to the capacity of the practice to provide health care which can affect all the patient-centered medical home (PCMH) principles.
Lillrank, P., Groop, P., & Malmstrm, T. J. (2010). Demand and supply-based operating modes: A framework for analyzing health care service production. Milbank Quarterly, 88(4), 595-615. doi:10.1111/j.1468-0009.2010.00613.x

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