Economic Terms and Health Care History

HCS 440

The American Medical Association (AMA) was founded when healthcare was still getting started with doctors and hospitals (American Medical Association, 2011). During the beginning stages doctors would see patients using a bartering system. Doctors would make house calls and patients would pay with goods such as, food, fuel, cooked meals, animals, or anything else that the doctor could be in need of. Supply and demand, the doctor had something the patient needed and in return the patient supplied the doctor with something that he needed.

Between 1901 and 1940 healthcare and medication improved greatly. Hospitals became very important to healthcare. President Truman proposed a national healthcare plan, but it was shot out of the water by...