There are so many changes that are consistently changing and impacting our healthcare economics. Healthcare companies have been making changes to their systems and coming up with better financial strategies and organizational strategies that better fit there company needs. One very strong influence on the changes that have affected our healthcare economics is the economy. (“Are The Economics Of Healthcare Getting You Sick?,” 2014). Another reason for many of the changes in healthcare economics today is advances in technology as well as changes to the way that healthcare insurance is being processed. Years ago many consumers could get care and have to worry so much about their out of pocket expenses. Today many insurances have higher co-pays and is costing our consumers much more out of pocket affecting the production of care in many of our health care clinics and hospitals around the country. (“Are The Economics Of Healthcare Getting You Sick?,” 2014). In this paper I will go over some of the key terms in relation to changes to healthcare economics such as key terms supply and demand, microeconomics and elasticity.
Economics is “a science concerned with the process or system by which goods and services are produced, sold, and bought” It is our grow thing technology which has had major impacts on the new economic trends that are what leads to the future of our healthcare. (“Are The Economics Of Healthcare Getting You Sick?,” 2014).
One major principal in healthcare economics is supply and demand. Economics is when a market has a need and a demand for products for consumers and the supply of the products from the suppliers. Many consumers will base their decision on their health care based on what there healthcare cost will be (“Are The Economics Of Healthcare Getting You Sick?,” 2014).. If the healthcare cost is not suitable or affordable for the consumers, consumers will not get care and healthcare facilities will not…