Analyze the Evolution of Financing on the U.S. Healthcare System
You have learned how important the role of financing is to the delivery of healthcare. You have also learned the different sources of financing used in the private and public sectors. Your assignment is to create a flowchart tracing the historical evolution of financing the healthcare system, using the platform of your choice(e.g., MS Word, PowerPoint,).Be sure to include a narrative/summary of each event in the same or separate document. Also, include the following:
- Title/header
- Diagram each “event”
- Provide a summary in narrative form for each event
- Include references
Length: Flowchart should highlight a minimum of 5 major events.
References: Support your work with a minimum of 5 scholarly resources
Your assignment should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course. As well as provide new thoughts and insights relating directly to this topic. Your response should reflect graduate-level writing and APA standards
Solution Preview
Finance is a field that is concerned with the allocation of funds to people or an organization. Healthcare is maintenance or improvement of medical care to individuals via prevention, diagnosis and offering treatment for a condition. Healthcare financing is mobilization, utilization, and allocation of funds to cover the health needs of individuals. Therefore, financing healthcare is one of the core elements of the health system. Healthcare financing in the United States has evolved and a clear portrait is seen in personal health expenditures.
The year 1970s
In the 1970s, growing health care expenditure carried on with being an issue to the administration. Medicare became law and national health expenditure increased by 30%.
Consequently, medical costs began to grow when Medicare and Medicaid were implemented.
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