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Technical advancement in medical field
About supply and demand in the healthcare industry
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Kenneth Arrows article is definitely applicable today many of the topics mentioned are things we are currently struggling with in health care. Some of the points covered that are most relevant in me perspective are: product uncertainty, supply conditions, and the nature of demand. Medicine itself has changed drastically over the last 50 years especially with the technological advances and life saving treatments that can now be provided. Product uncertainty is relevant with what we see often in medicine today; for example an individual can be diagnosed with cancer a team needs to consider the appropriate treatment for this individual. Another example is when a patient needs a organ transplant many time to the progression of the individuals
Gordon Parks was a photographer and humanitarian with a passion for documenting poverty, and civil rights in the second half of the 20th century. His signature style continues to be celebrated as one of the most iconic of the time.
Healthcare has now become one of the top social as well as economic problems facing America today. The rising cost of medical and health insurance impacts the livelihoods of all Americans in one way or another. The inability to pay for medical care is no longer a problem just affecting the uninsured, but now is becoming an increased problem for those who have insurance as well. Health care can now be seen as a current concern. One issue that we face today is the actual amount of healthcare that is affordable.
As I began watching Reinventing Healthcare-A Fred Friendly Seminar (2008), I thought to myself, “man, things have changed since 2008.” And as the discussion progressed, I started to become irritated by how little had changed. The issues discussed were far-reaching, and the necessity for urgent change was a repeated theme. And yet, eight years later, health care has made changes, but many of its crucial problems still exist.
According to Buckser (1992), the term “lynching” was derived from a Revolutionary War Virginia militia colonel, Charles Lynch. Lynch, at this time, came up with an “unofficial justice system” that punished suspected criminals and thieves through whippings; this later became known as “Lynch’s law”. He also mentions that during the eighteenth and nineteenth century, writers used a form of public humiliation known as charivari (12). These ridicule- based punishments were typically against people who transgressed the community norm. Buckser (1992) also noted that by the 1830s writers began to see a change when the frequency and severity of lynch laws increased. They attributed this increase to the rise
For instance, Primark 's products offer customers clothing as a base product, of witch actual benefits are being to be cheap and trendy, and they may have some return policy as augmented benefit in case of defects. Each product may be realised following a new product development process to improve its success rate (Harris and Schaefer, 2015, p.43-47).
Arguably, all three situations met by the end of the 20th century. The rise of managed care, the increase of health care costs, and the growing number of uninsured patients place economic and political pressures on individuals (and governments) to find a cost-containment resolution. Additionally, since the late 1970s, the medical profession has faced the dominating principle of patient independence as a challenge – first to medical paternalism and then extending even to the principle of beneficence. More so, the usage of the Internet and other global media has expanded the ability of patients to access an...
How has the healthcare industry changed (pre-1983 to post 1983)? What are the implications for BD? How has BD managed to build up an 80% market share in this market? Which many competitors bigger than BD have tried to enter without success?
2. The twin problems of the health care industry as viewed by society are cost and access. First of all, the cost of getting health care is very high and it is getting higher each day. This has been mostly caused by the combination of high cost and an increase in quantity of services provided to the communities. The other problem involves access to health care. American enjoy limited or no access to health care. Many efforts have been done to reform this, but still but still many people are left without access to the care. These two problems are related due to the fact that if the health care industry gets to high off course people no longer will be able to have any access to it. The higher prices are, the lower access people have to it.
There are three issues when it comes to the health care cost rising. The first is the rising cost in prescription drugs. The second area of rising cost is the increased technologies when it comes to the medical industry. The third problem is the aging population. Prescription drugs are the area of the fastest growing health care expense, and it is projected to grow at 20 to 30 percent each year over the next several years. There are many newer, more expensive drugs on the market, and the use of these prescriptions is exploding. In addition, with so much television advertising, many consumers ask their doctors for expensive, brand name drugs when there may actually be a generic drug that works just as well.
There are a lot of people who are working hard to acquire great innovations which can prove to be beneficial for them and also for others. The industry of medical has profited a considerable measure due to the these people. We now have more assortment and more items in the therapeutic market than the older times.
Another article that caught my eye is improving the management of care. It has been a challenge to Medicaid and Medicare when it comes to overutilization of services. If one looks at the demographics of the issue, it would indicate that these are individuals with high cost occurrence and those whose social and personal environment is quite unfavorable.
Starting with the four levels of Uncertainty, to determine the level where your industry is at, there are few factors to consider, including current clear trends, such as market demographics, and there are other factors that are currently unknown but managers can figure them out by conducting the right analysis. The uncertainty that remains after the best possible analysis has been done is called residual uncertainty. It has been
Demographic: obviously this industry segment is highly affected by population drivers such as age and life expectancy. Life expectancy rates have been increasing in the last ten years, thus, increasing in turns the amount of individuals with multiple medical conditions.
Every business today deals with uncertainty in the future and every firm tries to reduce it as much as possible in order to prevent itself from the effects of uncertainty. Uncertainty in a way is the lack of certainty. In other words having limited knowledge about the present state and future outcome. This limited knowledge for companies becomes dangerous when they do not know what is going to happen in the future. Firms mostly used traditional approach all their life but since all the uncertainties cannot be forecasted by it other approaches are used as well.
What will US healthcare look like in 2050? According to Getzen (2013), trends in better health will lead to greater need for long-term care and chronic care for the aging population while correspondingly trending toward less acute illnesses (p. 438). Personalized prognostic healthcare will lead to healthier longer lives (Lawrence, 2010). Physicians will become leaders of teams within healthcare organizations rather than the independent practitioners we are familiar with today (Getzen, 2013, p. 438). Thus, the concept of the primary care physician will become a thing of the past (Lawrence, 2010).