HCS 440 Economic Terms and Healthcare History

**ESSAY EXCERPT***

When you think of the term economics you think trade or market. Within that market there are sellers and traders. Without these people there would be no economy to live in. Nothing to buy, sell or trade. As long as you have something people want they will buy and you can make money. It is all about supply and demand. When people need certain goods they will find it. The economics of healthcare had to start somewhere and that is what this paper will be discussing.

At the beginning, doctors did not know much about disease and how to care for sick people. For that reason they did not charge much when visiting patients because there was not much for them to do. Most patients were seen in their homes and paid out of pocket. It was only the big employers that paid for health insurance. As doctors began to learn more about disease and treatment, they were able to charge more for their services. They also needed to see patients in a hospital in order to take advantage of the technology that was coming about. This caused for healthcare to become more expensive and was more than most people could pay out of pocket and was something that everyone needed.

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Individual Assignment Economic Terms and HealthCare History Resource: Economic Terms and Health Care History grading criteria on the student website. Complete the Economic Terms Exercise in Week One of the student website. Write a 700- to 1,050-word paper in which you include the following: Describe the history and evolution of health care economics and the timeline of health care funding,