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The United States has a great consumer demand for health care services. The supply of these services or products, such as new medical equipment, is affected by many factors.
Select a service or product that may be in demand by the health care consumer now or in the future.
Write a 1,050 to 1,400 word paper on your selected service or product. Include the following:
Discuss the effects of consumer demand on medical care services or products versus the economic variables of cost, access, and supply.
Support your perspective and rationale for the continued provision of a current service, or for the implementation of a new service or product, based on economic principles or supply chain models.
Cite a minimum of 3 peer-reviewed, scholarly, or similar sources.
Format your paper according to APA format.
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Demand versus Supply
HCS/522 Health Care Economics
Demand versus Supply
The health care industry is a very unique business. However, over the past years, it has become more conventional due to the increasing demand of its consumers for more choices, convenience, and more technology. Due to a rapidly aging population, the competition and demand for health care services is higher than ever. Home care services are especially in demand, as more people are choosing to stay home instead of using long-term facilities. Home care providers are sensitive to the demands of society; however, sometimes demand overtakes supply. An examination into demand versus variables of economic costs, access, and supply will help give some understanding into why home care should be continued.
Consumer Demand
Most people are familiar with the term Baby Boomers. Baby Boomers refer to the 78 million people who were born between 1946 and 1964 (Valero, 2016). By 2030, the number of people over age 65 is expected to exceed 65 million (Valero, 2016). Furthermore, much of the aging population is obese and diabetic, leading to an increased need for care. Home health covers services for those who need short and long-term care due to illnesses, injuries, or chronic conditions. Services can range from therapy visits to skilled nursing shifts. Care includes medication administration, assistance with activities of daily living, pain management, transportation, and even occupational, speech, and physical therapies (Heniff & Saturno, 2009).
Baby Boomers are demanding in-home services more than ever. Baby Boomers are noted as being independent, technology savvy, and health conscious (Heniff & Saturno, 2009). Furthermore, studies show that people who receive home services recuperate and have ...
INTRODUCTION;
From a Public Health perspective, health economic aspects are only one of many orders that might be utilized to break down issues of health and healthcare, specifically as one of the arrangements of analytic...
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