Analyze the current economic shift from volume-based health care to value-based health care. What economic principles (macro and micro) are driving this shift?
Evaluate implications of this volume to value shift. How has this shift affected how you work or how you or a family member has been treated for a medical condition?
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The current economic shift from volume based health care to value based health care has been driven by several economic principles. The total demand for health care has been growing steadily. Also, there has been a shortage of high quality health care in the market. The demand is higher than the supply and this has pushed the prices of health care. The shortage has been so high that Americans and businesses have been priced out of being able to afford care. Macroeconomic drivers have been the weak economy, decreasing incomes, and higher levels of unemployment. The volume of the volume based health care was purposely being kept low so that rate hikes could be implemented. This means there were increases in the price of health care. The increase in price of health care manifested itself in several ways. For example, insurance policy holders were given limited coverage and if they had a pre-existing condition they were denied insurance cover. The new payment structures created have been drivers for delivering value based care(a). Further, there is demand for high-value ...
This solution explains issues relating to volume to value based shift in healthcare. The sources used are also included in the solution.