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Financial crisis in the us essay
Financial crisis 1929
Financial crisis 1929
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In 2007, the U.S faced the worst financial crisis since the Great Depression. The U.S housing bubble that forced many financial institutes and banks into bankruptcy is the main cause of this financial crisis. According to The Department of the Treasury, this recession lead to 8.8 million job losses between the years of 2007 and 2009. A study performed in 2009 by the United States Census Bureau, estimated that 48.6 million people in the U.S were uninsured. This was a great threat to the U.S economy, budgeting, and security. In order to offset the problem, the Affordable Care Act was passed on March 23, 2010. The main objective of this Act is to provide affordable quality health care to the uninsured, reduce overall healthcare costs, and to stop consumer discrimination related to preexisting medical conditions.
The Congressional Budget Office estimates that 32 million uninsured people will be insured by 2019. This will increase the volume of specimens and biopsies coming into pathology laboratories. Due to this increased volume, many large laboratories and hospitals will see a substantial increase in their revenue and hence increasing the demand for PAs. The low reimbursement rate of Affordable Care Act has forced many small labs to freeze hiring, lower salaries, and to even close. Furthermore, many small labs will lose business to larger labs further adding to the workload. This in turn may lead to a shift resulting in more PAs working in a much larger laboratory setting. It is the responsibility of these labs to evolve with the changes to make sure that the quality of the specimens and turnover time of frozen section specimens are not affected. Furthermore, we can anticipate an increase in physician visits due to Baby B...
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Barbara J. McKenna, M. (n.d.). University of Michigan American Society for Clinical Pathology President . Retrieved Jan 14, 2014, from The Pathology and Laboratory Medicine Workforce Shortage: an Impending Perfect Storm : http://www.pathology.ecu.edu/Public/graduate/SEAPC.pdf
Stanley J. Robboy, M., Sally Weintraub, M., & Andrew E. Horvath, M. E. (n.d.). Development of a Predictive Model to Examine Factors Influencing Supply . Retrieved from Pathologist Workforce in the United States : http://www.archivesofpathology.org/doi/pdf/10.5858/arpa.2013-0200-OA
Richard A. Robbins, M. M. (n.d.). Who will benifit and who will loss from obamacare? Retrieved from Southwest Hournal of pulmonary care.: http://www.swjpcc.com/editorial/2013/8/16/who-will-benefit-and-who-will-lose-from-obamacare.html
According to the United States Department of Labor, Bureau of Labor Statistics, the career outlook for a diagnostic medical sonographer is expected to increase by as much as forty-four percent by the year 2020. Approximately 53,700 sonographers were employed in 2010, with an expectancy of an additional 23,400 by 2020. Information obtai...
The aim of affordable care act (ACA) was to extend health insurance coverage to around 15% of US population who lack it. These include people with no coverage from their employers and don’t have coverage by US health programs like Medicaid (Retrieved from, https://www.healthcare.gov/glossary/affordable-care-act/). To achieve this, the law required all Americans to have health insurance which is a reason of controversy because, it was inappropriate intrusion of government into the massive health care industry and insult to personal liberty. To make health care more affordable subsidies are offered and the cost of the insurance was supposed to be reduced by bringing younger, healthier people to the health insurance system. This could be controversial, if older, sicker people who need the coverage most enter the market but younger group decline to do so. The insurance pool will be unbalanced and the cost of coverage will rise correspondingly.
In the 1990s the government made the decision to cut back on physician production because it though that it had enough physicians (Dauphinee, 2005). This lead to the greatest net loss of Canadian physicians to other countries, primarily the united states (Dauphinee, 2005). It was approximated that 508 physicians left in 1996 (Dauphinee, 2005).
Due to the Patient Protection and Affordable Care Act signed into law on March 23rd, 2010; health care in the US is presently in a state of much needed transition. As of 2008, 46 Million residents (15% of the population) were uninsured and 60% of residents had coverage from private insurers. 55% of those covered by private insurers received it through their employer and 5% paid for it directly. Federal programs covered 24% of Americans; 13% under Medicare and10% under Medicaid. (Squires, 2010)
If you are a new student and are thinking about pursuing a career in the medical field, like me, you have a lot of options. You could become a Registered Nurse, a Physician, a Physician Assistant, a Dentist, an Audiologist, an Anesthesiologist or many other professions. In this article I am going to narrow it down for you between a Physician and a Physician Assistant and I am going to tell you why I would prefer being a Physician Assistant over the highly prestigious Physician career. Physician Assistant is a relatively new career and there are many misconceptions about what individuals with this title do in the medical field.
There has been a shortage of physicians, lack of inpatient beds, problems with ambulatory services, as well as not having proper methods of dealing with patient overflow, all in the past 10 years (Cummings & francescutti, 2006, p.101). The area of concern that have been worse...
...ll have to provide nutrition facts to help communities as a whole become healthy or continue their healthy habits. This means the economy will have fewer people covered by government-sponsored health plans. The amount of coverage required to cover all the uninsured will not be enough. According to Daniel Fisher (2012), the laws that were in place provided coverage for the poor, elderly and even about 60% of Americans who get their insurance through their employer. The sole purpose for the healthcare reform is to fix a problem that each year costs extreme amounts of money. The Healthcare reform act is to help with the economic issue of people merely staying at their jobs just so they can continue with insurance coverage. The rising cost and the complexity of healthcare systems is an imperative factor that should concern both businesses and individual
"The Pros and Cons of ObamaCare." UPMC. N.p., 6 Nov 2013. Web. 14 Apr 2014.
The amount of career opportunities involved with the profession are endless. Virtual Job Shadow estimates that there are about 75,000 Ultrasound Technicians in the world and half are working in hospitals. By far, hospitals are the most common employers for sonographers but doctor’s offices are not too far behind. Labs, rehabilitation centers, and nursing homes are other establishments that Ultrasound Technicians can be found. These jobs are highly competitive and they demand a high level of attention and accuracy. As medical careers flourish, needs for technicians in many fields of medicine are increasing. Instead of a doctor choosing complex and risky surgery to find out problems within the body, they can now choose a safer path; the ultrasound path. Patient’s history and physical evaluation are building blocks to diagnostics but ultrasounds are much greater. While the field of Ultrasound Technology is a popular in the health care industry, there are still a fairly small number of people in the
There is an ongoing debate on the topic of how to fix the health care system in America. Some believe that there should be a Single Payer system that ensures all health care costs are covered by the government, and the people that want a Public Option system believe that there should be no government interference with paying for individual’s health care costs. In 1993, President Bill Clinton introduced the Health Security Act. Its goal was to provide universal health care for America. There was a lot of controversy throughout the nation whether this Act was going in the right direction, and in 1994, the Act died. Since then there have been multiple other attempts to fix the health care situation, but those attempts have not succeeded. The Affordable Care Act was passed in the senate on December 24, 2009, and passed in the house on March 21, 2010. President Obama signed it into law on March 23 (Obamacare Facts). This indeed was a step forward to end the debate about health care, and began to establish the middle ground for people in America. In order for America to stay on track to rebuild the health care system, we need to keep going in the same direction and expand our horizons by keeping and adding on to the Affordable Care Act so every citizen is content.
The United States spends vast amounts on its healthcare, while falling short of achieving superiority over other developed nations. One cannot overlook that the deepening recession has left many without jobs and therefore lacking health insurance. According to Fairhall and Steadman, (2009), even though the recession is hard on all, it is worse on the uninsured due to health care and insurance cost rising faster than incomes. Nevertheless, even those with jobs are lacking in health insurance due to employers, who provide insurance, are increasingly dropping their sponsored insurance. Many find that purchasing a health policy or paying for medical care out-of-pocket is cost prohibitive. “Since the recession began in December 2007, the number of unemployed Americans has increased by 3.6 million,” (Fairhall & Steadman, 2009). In 2009 it was stated that approximately 46 million Americans were uninsured, however not all of that number is due to the inability to afford coverage. According to a 2009 story written by Christopher Weaver of Kaiser Health News, 43% of that number should be classified as “voluntarily” uninsured. This subset of uninsured Americans consist of nearly half being young and healthy; therefo...
The number of doctors that present in the United States of America directly affects the communities that these doctors serve and plays a large role in how the country and its citizens approach health care. The United States experienced a physician surplus in the 1980s, and was affected in several ways after this. However, many experts today have said that there is currently a shortage of physicians in the United States, or, at the very least, that there will be a shortage in the near future. The nation-wide statuses of a physician surplus or shortage have many implications, some of which are quite detrimental to society. However, there are certain remedies that can be implemented in order to attempt to rectify the problems, or alleviate some of their symptoms.
"Health Insurance Costs, Premiums, Deductibles, Co-Pays & Co-Insurance." Debtorg News. N.p., n.d. Web. 01 May 2014.
In March 2010, under the Obama administration, the United States enacted major health-care reform. The Affordable Care Act (ACA) of 2010 expands coverage to the majority of uninsured Americans, through: (a) subsidies aimed at lower-income individuals and families to purchase coverage, (b) a mandate that most Americans obtain insurance or face a penalty,
Health care reform is needed for four reasons. First, health care costs are rising. In 2011, the average cost for a family of four increased 7.3%, to $19,393. By 2030, payroll taxes will only cover 38% of Medicare costs. Second, health care reform is needed to improve the quality of care. Because of these reasons, President Barack Obama signed The Affordable Care Act, also known as ObamaCare, into law on March 23, 2010 and upheld by the Supreme Court on June 28, 2012. The goal is to give more Americans access to affordable, quality health insurance, and to reduce the growth in health care spending in the U.S. The Affordable Care Act contains ten titles that span over 1000 pages, but most of its key provisions are in first Title; The first title is about 140 pages long. The purpose of the law if to expand the affordability, quality, and availability of private and public health insurance through consumer protections, taxes, insurance exchanges, and other reforms.