Health Economics Health, Medicine, Nursing Essay Paper (Essay Sample)
The purpose of this assignment is to distinguish health economics from other forms of economic study.
Write a 500-750 word essay addressing the following criteria:
Analyze the differences and similarities between health economics and other forms of economic study.
Choose a health care organization or entity (e.g., hospital, nonprofit medical clinic, physician office, pediatric specialty clinic, optometry office).
Describe the following economic terms in the context of the selected organization or entity: Scarcity, Opportunity Costs, Marginal Analysis, Supply and Demand, Competition, Efficiency, and Market Failure.
Use two or three peer-reviewed scholarly resources.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is required.
Running head: HEALTH ECONOMICS1
Health Economics in Context
Health economics is an emerging discipline departing from conventional economic study. Focused on distributional disparities, competitive advantages, regulatory matters of healthcare provision in public and private sectors, health economics provides decision makers with necessary information to optimize economic decisions in healthcare contexts. To put basic economic concepts into a practical context, a specific healthcare organization, namely Mayo Clinic, is selected. The applied concepts include Scarcity, Opportunity Costs, Marginal Analysis, Supply and Demand, Competition, Efficiency, and Market Failure.
Health Economics in Context
The healthcare profession has developed into a more complex, interdisciplinary research and practice area. The emergence of new challenges at local, national and global scales has made imperative a development of new, more specialized healthcare services informed by mutiple disciplines. If anything, health economics has come to define research and practice in and beyond healthcare. For definition,
Health Economics is an applied field of study that allows for the systematic and rigorous examination of the problems faced in promoting health for all. By applying economic theories of consumer, producer and social choice, health economics aims to understand the behavior of individuals, health care providers, public and private organizations, and governments in decision-making. (“What Is Health Economics?” n.d.)
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