Health Economics (Pharmacy Business Administration Series) by Jordan Braverman

By Jordan Braverman

This e-book offers an advent for college students to the problems of economics in healthcare. this article is a part of the "RPS Pharmacy company management Series"; a bunch of introductory textbooks overlaying all company points in relation to pharmacy perform. half one in every of this ebook introduces healthiness economics with a historical past a evaluation. half examines overall healthiness economics in terms of particular parts akin to expertise, pharmaceuticals and so on. It concludes with common observations of at the present time and the longer term. the aim of this ebook is to acquaint scholars with the commercial concerns inside of healthcare this present day within the united states when it comes to expenditures, affordability, the historic improvement, the significance of the industrial problem and contributing components reminiscent of know-how, medicines, and clinic care. The e-book additionally appears to be like on the mechanisms on hand at the present time to assist shoppers strive against, manage to pay for and pay for the excessive bills of overall healthiness; and discusses the successes and screw ups and reasoning in the back of those.

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Extra resources for Health Economics (Pharmacy Business Administration Series)

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The law of supply states that when the sales price of an item rises, more people will make the item. Since the higher price means more profit for the producer of the item as the price rises, more people will be willing to produce the item when they realize they can make money. The costs of American health care | 29 The price of an item is said to be in equilibrium when there is a buyer for each individual product that is produced. If the price of a product is set too high, then more goods will be produced than sold and surplus will result.

In that same year of 1996, Congress also passed the Mental Health Parity Act, which requires a group health insurance plan, if they choose to offer mental health benefits, to provide the same level of coverage for such benefits as they provide for medical and surgical benefits, including the same aggregate lifetime limits and the same annual limits, if any. The Act does not apply to groups of fewer than 50 persons, substance abuse or chemical dependency treatment, or to groups whose health plan costs would increase at least 1% because of such an offering.

Labor is a person’s ability to produce goods or services such as his/her skills, physical labor, and other qualities. Capital is the goods people employ to produce goods and services, such as equipment, factories, and other factors. In economics, a market exists when a buyer wishing to exchange money for a good or a service is in contact with a seller wishing to exchange a good or a service for money. Thus, a market is defined in terms of the fundamental forces of supply and demand, and is not necessarily confined to any particular geographical area.

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