How Consumer Demand Plays A Role In The Health Care Industry
Demand Versus Supply Paper
October 28, 2013
University of Phoenix
Demand Verses Supply Paper
The United States has a great consumer demand for health care services. Health care services are quickly becoming a focal point of consumers due to the implementation of the Affordable Care Act (ACA). More people than ever are receiving health care benefits and the increases are supposed to come without a compromise in care. This instantly prompts questions about supply and demand with medications, equipment, staffing, technology, etc... This paper will explore the medication shortages in the United States and how consumer demand plays a role in the health care industry.
Demand in Health Care In health care, demand for products and services have a different meaning than that of typical products and services. Patients receive medical care because it is a necessity not because it is a fun thing to have or just because it is the cool new thing out. Health care is derived demand. The demand is derived from the fact that patients need to be healthy in order to function on a daily basis. Patients rely …show more content…
Unfortunately, this is not a perfect world and all medications have a cost and availability is limited. An ongoing issue in the medical field is that medication companies produce drugs that are very successful and the demand increases very rapidly. This, in turn, causes supply shortages and leaves patients without access to the medications that are necessary to keep them healthy. According to policymed.com (2012) “the government 's oversight of manufacturing safety and quality is unnecessarily contributing to shortage problems.” Along with shortages, high costs of medications can leave patients empty handed. The Affordable Care Act is aimed at making every aspect of health care more affordable including the costs of
October 28, 2013
University of Phoenix
Demand Verses Supply Paper
The United States has a great consumer demand for health care services. Health care services are quickly becoming a focal point of consumers due to the implementation of the Affordable Care Act (ACA). More people than ever are receiving health care benefits and the increases are supposed to come without a compromise in care. This instantly prompts questions about supply and demand with medications, equipment, staffing, technology, etc... This paper will explore the medication shortages in the United States and how consumer demand plays a role in the health care industry.
Demand in Health Care In health care, demand for products and services have a different meaning than that of typical products and services. Patients receive medical care because it is a necessity not because it is a fun thing to have or just because it is the cool new thing out. Health care is derived demand. The demand is derived from the fact that patients need to be healthy in order to function on a daily basis. Patients rely …show more content…
Unfortunately, this is not a perfect world and all medications have a cost and availability is limited. An ongoing issue in the medical field is that medication companies produce drugs that are very successful and the demand increases very rapidly. This, in turn, causes supply shortages and leaves patients without access to the medications that are necessary to keep them healthy. According to policymed.com (2012) “the government 's oversight of manufacturing safety and quality is unnecessarily contributing to shortage problems.” Along with shortages, high costs of medications can leave patients empty handed. The Affordable Care Act is aimed at making every aspect of health care more affordable including the costs of