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Economic Terms

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Economic Terms and Healthcare History

July 1, 2013

By: Kelsey Breeden

Economics within health care has changed drastically throughout the years. With the election and now reelection of President Obama, health care economics has become very important to not only providers, but managers and even the clients. In order to better understand the economics of health care, one needs to understand the history and evolution of health care. The purpose of this paper is to explore the history and evolution of health care throughout the United States history.
Starting with the 1800’s, most people had their medical care and assistance come to their home. There were very little healthcare providers, as well as medicines and treatment. People during that time period were able to just deal with being sick instead of going to the doctors and to see all kinds of specialists. These types of options were not available, and if they were to seek medical attention it was very pricey. Healthcare insurance was not offered so all payments had to be paid out of pocket, and in full. As the 1800’s progressed, there became a formation of the medical field and medical professions. Now although there was a healthcare industry on the rise, people were still not sure of the money aspect of healthcare.
When the 1900’s came about, healthcare continued to expand, with the expansion came the want and need for hospitals. Hospitals became very important to everyone and access continued to become easier. Hospitals continued to grow which caused people to obtain healthcare, which was also becoming more assessable. With the expansion of hospitals, came more protocol for medical positions. In the 1930’s the Social Security Act was passed, this act meant that they would be omitting health insurance. Blue Cross, Blue Shield started offering private insurance for hospitals in several…...

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