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Economics

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Economic Terms and Health Care History

LaTasha Frost

HCS/440

February 25, 2014
Instructor Name
William Byrd Jr.

Economic Terms and Health Care History

Before the 1900’s healthcare had a different perception, now in the twenty-first century healthcare is an everyday thing to Americans. Economics is the science that contracts with the distribution, the material welfare of humankind, production, or the ad consumption of goods and services. Even though there are many different reasons why healthcare economics have changed over the years, the most effective reason is health care finance and the supply and demand of care. This paper will discuss the evolution of health care economics, the history and timeline of health care funding. [pic] Doctors had more power and were paid better than before in the early part of the twentieth century. Associations, for example American Hospital Association (AHA) and American Medical Association (AMA), started in the late 1800s, developed sturdier. Work unions then employers began offering a variety of aids to workforces, with funded health care. National health insurance became connected with collectivism and the idea became disliked in the United States, which opened entries to protect the increasing costs of medicinal care for secretive health insurance. Blue Cross was recognized at the end of 1920s and it was the first large medical insurance company established back then. The 1930s saw an increasing number of health insurance plans and also growing costs. Specialists were then salaried by a framework called "expense for-administration." Blue Cross and Blue Shield permitted their parts to pay for medicine by medical practitioners and the expenses of hospitalization. In the 1930s, the AMA took an energetic part in strong hospitalization assembly arranges. Throughout World War II, a restorative arrangement...

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