Health Care History HCS/440
Professor : Lana Mclecthie
Before 1900, there really wasn't what you could call major health care in this country. The American Medical Association (AMA) was just getting off the ground, hospitals were just getting established, doctors still made house calls and traded their services for goods, and people still used a lot of home remedies to treat their ailments. Health insurance was unheard of! Between the years 1750 and 2000, healthcare in the United States evolved from a simple System of home remedies and itinerant doctors with little training to a complex, scientific, Technological, and bureaucratic system often called the "medical industrial complex The history and evolution of health care economics involve economist analyzing the health care system. Over the past 60 years health care scientific advancement and economic growth have persisted. Modern advances in health care are driven by market prices. Economists must follow the flow of money to understand health care decisions. Healthcare funding is very complex and assist individuals in ensuring quality service is provided. Thus economist’s decision-making affects the health care system and advancements made. Economists think of strategic solutions to improve the way health care operates. Economists make decisions that affect individuals’ lives. According to wikipedia (2010) the history of economic thought deals with different thinkers and theories in the subject that became political economy and economics from the ancient world to the present day. Economics is the science that deals with the production, distribution, and consumption of goods and services. The moral obligation of businesses is to sell goods at a just price for individuals to consume. In the 1900s individuals paid out of their own pocket for health insurance. No one needed health insurance because it did not cost much. The healthcare system started around the 1920s where the employers paid for individual’s health insurance. Healthcare began to grow with much more effective treatments and for much more money. Medicines became effective, research increased, and medical schools expanded to teach physicians proper treatment methods. When people became ill they were willing to pay for their care. The health insurance system began According to Blumberg and Davidson (2009) Thomasson says that if the Great Depression inadvertently Health care economics have drastically altered over the course of annals in the United States. While some can assist these alterations due to the evolutionary alterations the US has undergone since her inception, the foremost assisting components that leverage the alterations in wellbeing care economics are improvement in expertise and health care. By comprehending the annals of wellbeing care economics, and recognize the flow of capital scheme, economic managers are adept to be more amply arranged for the future. It is crucial to recall that the propelling force behind wellbeing care economics is cash, and it performances an integral part to the achievement of the wellbeing care industry. Who buys for what has altered spectacularly in the past 60 years. Whereas in the past, the most of persons paid their health accounts with personal capital, today protection companies are responsible for the cost. Discussed will be the history, evolution of health care economics, the timeline of funding, and its terms. However, individuals give only a little part of the total flow of capital with personal money. The flow of capital is a scheme in which economic managers are adept to “follow” the cash through the wellbeing care scheme, and as asserted overhead the primary flow of capital have drastically altered from past years. History displays that numerous physicians would trade services for non-money pieces (such as...
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