future of health care in the St. Louis area
This paper presents a detailed examination of the future of health care in the St. Louis area. Included in the paper are discussions about economics and population issues as well as changes hat are coming. The writer addresses many economic issues including good and services and resources in the health care industry currently as well as the future projections. There were 12 sources used to complete this paper.
The cost of obtaining health care in the United States has been the topic of tremendous controversy for many years. While some argue that the nation needs to go to socialized medicine similar to the Canadian delivery mode others believe America has the best health care system in the world if only the costs would become more reasonable. The St. Louis MO area is no stranger to rising health care costs. St. Louis is an extremely diverse city which boasts high rise condos, as well as low rent projects. It is the type of area in which the rising costs of health care delivery threatens to choke millions of its area residents. Those who are well off are not immune either. Their taxes are paying for the public health care system that the poor are drawing on and then they have to cover the cost of their own health care needs and insurance costs. In addition to the economic diversity issues and the St. Louis health care system there is a large elderly population in St. Louis. The elderly are being negatively affected by rising health care costs as well. While the nation at large wrestles with the health care delivery system that it has grown to monster proportions the St. Louis area scrambles to determine if there are ways to cut delivery costs, thereby cutting the cost to the consumer. There are many issues to be examined when the topic of health care costs arises. There are basic economic questions as well as discussions about health care for the elderly, health care through public service delivery, and the cost of insurance premiums today and in the future. Another important aspect of any health care discussion is the future. The rising costs and difficult time delivering health care to those who need it is something that is at the limit by many economic and delivery standards. The future looms large ahead and to date there have been no concrete and viable solutions discovered. The question of health care costs and delivery for many diverse styles of populations currently and in the future is becoming more important with each passing year. As the nation struggles to figure out a solution, the St. Louis area scrambles with the same questions locally.
AREA SPECIFIC TROUBLES
The St. Louis area continues to grow as people begin to stretch across the nation in efforts to find the best possible life for themselves and their families. There are several factors that are currently affecting the economic status of the area. One of the first things that affect the current economic status of the area residents is the sagging economy. Through the 1990's the nation enjoyed an economic boon which by the very nature of the world drove the price of many goods and services through the roof. When the economy began to backslide and go into a slump, as history has proven over and over it will do, the cost of health care remained stationary to the pre-slump era. Those who were laid off found themselves without insurance while those who still had jobs discovered it was more difficult to pay the co-pays and the non-covered medical needs.
The St. Louis area health care needs have been examined for a long time. One of the most controversial things that occurred in recent years was the big company insurance cost increases that occurred several years ago (VandeWater, 1998). "Big employers in St. Louis got slapped with some of the highest health insurance rate increases in the country this year, according to a report by Hewitt Associates. The human-resources consulting firm said the average insurance premium here climbed 7.8% to $4,371 per employee. Nationally, the average cost of health plans provided by large employers rose an average of 3.7% to $4,033 per employee. The report, which Hewitt is releasing today, says rate increases in St. Louis outpaced increases in all of the top 20 U.S. markets (VandeWater, 1998). "
This and other problems...
Healthcare Economics Overall Healthcare And Economics Healthcare economics: Current challenges from a nursing perspective Although the subject of healthcare economics has been hotly-debated, on one issue there is widespread agreement: the aging of the population will substantively increase the demand for healthcare in the near and far future. As the population worldwide is aging and living longer, the need for essential services over a longer lifespan will generate more costs for an already-beleaguered
Health Care Economics In economics, cost-benefit analysis assists in evaluating the costs of an approach in terms of resources spent while cost-effective analysis evaluates the costs as achieving some sort of benefit which is not evaluated in monetary terms. Moreover, cost-benefit study examines several aspects including net-present value, present value of benefit, and present value of costs; in line with this, if a project indicates that the monetary outcome is greater
Health Care Economics Medical Care is never free, although the individual may pay nothing? Medical Care is both a commodity and a service. The process of consuming medical care has a cost, even if the after insurance price is zero to the consumer. For instance, there are hard costs that include the buildings, equipment and supplies that house the medical care or office. There are the wages that are paid for the
Health INS Healthcare Econ During the ten-year period ending with 2009, the administrative costs and the profits of health insurance companies rose slower than other healthcare costs and came to represent an ever-shrinking proportion of healthcare premiums. Much of the increase in administrative costs can be ascribed to inflation, especially during the years prior to the recent recession, and ongoing expansions of healthcare coverage and legislation during the period also required some
This is being done by disseminating and using practice guidelines for various medical conditions and by profiling individual physicians' provision rates. Demand side cost sharing is where patients must contribute more to their healthcare by paying more in copayments and deductibles. One recent advance in health care financing is the health savings account (HSA). These plans rely heavily on patient cost-sharing. An HSA basically provides health insurance along with a
Besides the health care has strong externality influences than that of other goods and services. The cost of caring a sick person may entail heavy financial burden on the patient's family. In the real world markets for other goods and services tends to approach towards market perfection that assumes a strict set of conditions such as, perfect information, several sellers and buyers, a uniform type of product and freedom to
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