Economics of heath care and the factor of prices how they af

Economics of heath care and the factor of prices how they affect this calss is Economics of Heath and Medicare

Solution

Many people are struggling to afford their health insurance premiums. Even Employers are not able to offer health care coverage at all. Adequate, modern, scientific medical services are primary requirements to the people. Payments for medical service are increased in last few years. New chronic diseases are growing rapidly which are increasing the health care cost. Cost of goods and services used for patient care -- such as workers, equipment and information systems are increasing. Demand for care and compliance with regulatory requirements are high these days. Robotic surgery , MRIs are high-cost procedures that improve the quality of care but they also rise costs for consumers. Aged or older people have to spend more on health care services than younger ones to live some more years. Hospitals may charge more fees as the risk is high. Wrong or wasteful healthcare procedures also increases the bill payable by patience. Standard of living and pre healthcare procedures also rises the prices of medicines. Health insurance premiums are tightly regulated. Insurance industry profits are not a significant driver of health insurance premiums. Private insurance administrative costs are actually high comparable to Medicare’s administrative costs