Business Finance – Economics Healthcare Industry
select and research what you believe to be the most important and pressing economic issue that confronts the United States in the health care industry today, and potential ways in which to mitigate the issue. Consider the economic effects of the issue on the health care industry, strategies to address the issue, and best practices for implementing the strategies. You will write a paper to formulate strategies and the application of best practices from other countries based on your research to address a selected economic issue confronting the U.S. health care industry.
Provide a review of the selected issue in a 4-5 page paper in which you:
Develop a detailed description of the selected issue and the research process conducted.
Analyze the most significant economic effects of the researched issue on the health care industry supported with at least two examples of the economic effects.
Formulate specific strategies that relevant entities/stakeholders may use to address the selected issue from an economic perspective supported with a rationale for the strategy.
Develop a strategic manner in which the United States can apply economic best practices from other countries to support the strategies for addressing the issue.
Critique the likelihood of the government and the private sector to effectively address the issue.
The Most Important and Pressing Economic Issue in the US Health Care Industry
The most important and pressing economic issue in the US health care industry today is the high cost of care. The US spends more on health care than any other developed country, yet we have worse health outcomes than many of those countries. This is due to a number of factors, including:
- The high cost of prescription drugs
- The high cost of medical procedures
- The high cost of health insurance
- The lack of price transparency in the health care system