Health Economics
Concerned with production, distribution, and consumption of resources.
What is economics?
Conditions in which people are born, grow, live, work, and age.
What are social determinants of health?
This relates to how the money for health care services is generated.
What is health care financing?
An approach that focuses on the unique aspects of health care markets.
What is health economics?
This receives nearly 90% of national health expenditures.
What is medical care?
Out-of-pocket money at the point of service, taxes, insurance premiums.
What are types of financing options?
Classic free market, Keynesian economics, behavioral economics, health economics.
What are theoretical approaches to economics?
Factors such as socioeconomic class and educational attainment.
What are overall predictors of health status?
Money paid to providers of care for services delivered.
What is reimbursement?
Must think about ethical and practical ways to manage, allocate, and use scarce resources to maximize value and outcomes
What is an essential competency for today's nurse?
These receive a mere 4% of national health expenditures.
What are healthy behaviors?
The combination of different payers any one provider may be reimbursed by and the proportion of each.
What is payer mix?
Earlier generations of nurses were socialized that it is unethical to consider cost of care when making treatment decisions. More recent generations understand necessity of cost consideration.
What are generational differences in cost consideration related to treatment?
The unfair and unavoidable differences in health status seen within and between countries.
What are health inequities?
When insurance funds are redistributed from those who are not using health services to those who are.
What is risk sharing?