Discussion: The Role of Economic Principles in Healthcare Decision Making
lrodrigugz0z09Explore the basic economic principles of trade, choice, opportunity costs, and scarcity, along with the law of demand. What are the potential positive and negative impacts of applying these principles to the healthcare industry? How do you think a healthcare organization should balance the economic principles described with issues of health, life, and death in terms of its policy decisions and strategic planning? Can you put monetary value on a life?
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Discussion
NOT RATEDTo begin this discussion, introduce yourself to your classmates and instructor. Briefly discuss your background, describe your professional goals, explain what you hope to gain from this course, and …
8 months ago
Health care institutions are also businesses that rely on patients' continued visits for them to stay afloat. They need to be aware of specific rules, such as the rule of scarcity which increases demand. This means that a hospital expanding its branches should look to the areas where there are no hospitals. It can also invest in leading diagnostic tools that are not available elsewhere, making it a good destination for patients.
