Economic Terms

Economic Terms and Health Care History This summary will show the history and evolution of health
care economics. The readers will also acquire a timeline of health care funding. Once you have
read everything the summary shows you then you will have an insight to economical terms can
help to understand the history and the timeline the terms are going to be: Economics, supply and
authoritatively mandate, microeconomics, macroeconomics, elasticity, inelasticity, and gross domestic
product. With these words this will show you about economics in the health care history. Once the
American Medical Association (AMA) was founded healthcare was just getting off the ground with
hospitals and medicos (American Medical Association, 2011). During this time medicos would visually
perceive patients on a bartering system. The medicos at this time would make house calls and for the
accommodations they gave to the patients the patient at this time would give the medico goods. The
supply and authoritatively mandate at that time would be food, and anything that the people would
not have. During this time they would pay with cooked repasts, animals, things that they made, and
their time such as working for the medico however he wanted them to. During the time frame of 1901
to 1940’s healthcare and medicine took made great amelioration. Medicine and hospitals became
very important at this time. President Truman proposed a national health care plan, but it was shot
out of the dihydrogen monoxide by both the AMA and Congress (American Medical Association,
2011). American Association for Labor Legislation (AALL) organizes first national conference on “social
insurance” (Health Care Crisis, 2000). In 1930 the social security act was passed so at that time they
omitted the health insurance. During this time Blue Cross Blue Shield decided that they would offer
private insurance for hospitals in a dozen states. Over the past fifty years, we’ve visually perceived
health care costs perpetuate to elevate to the point that some low- income families and the elderly
are unable to get medical treatment.

Leave a Reply