Current and Future Economic Issues Impacting Healthcare Sector Coursework

Current and Future Economic Issues Impacting Healthc are Sector - Coursework ExampleThis paper thoroughly analyzes these five factors that are affecting the pray and supply, as well as the costs, of health care services in the United States. It also suggests specific strategies that relevant entities may use to address these issues from an stinting perspective.Physician sovereignty implies that health care professionals, such as doctors, largely influence or regulate the demand for health care. People believe that they contract the checkups, medicines, and therapies that the physician advises. Health care demands professional knowledge or expertise. People depend on the doctor. The physician could consider cost, but they are obviously youngster (Culyer et al., 2011). Decisions are made based on established clinical knowledge and practice and the guarantee of appropriate, correct health care. The usual thriftiness of a consumer who weighs prices against champion another thoroughly and makes budgets is nonexistent in health care. Although this is not essentially negative, it does further firmness of purpose in a greater demand for, and thus increase costs of, aesculapian care. Moreover, within conventional fee-for-service insurance, the higher the number of services that are suggested the greater the income the physician or hospital gets (Aizer, 2007, 405). This situation could forget in unnecessary services with gains that are not equal or more than their costs. In fact, physicians may be inclined to over-service, over-test, and overprescribe, particularly if this excessive medical care lessens the possibility of an expensive medical malpractice case (Hicks, 2014).The over-demand produced by third-party payments is a perfect illustration of how consumer decision-making and behavior can be influenced by financial incentives. Consumers are simply acting in response reasonably to the incentive of a lowered price, and the unused or misused medical care is an indication of consumer preference. The result may not be socially desired, yet the consumer remains