BUSI 429 Healthcare Economics

Question: Topic: Rationing Medical Services -How Much Health Insurance? What are the benefits of plotting a marginal benefit curve? Answer: Introduction Rationing in the healthcare industry is the suppression of potentially favorable treatments from some particular individuals. Rationing cannot be avoided due to the scarcity of health resources while the needs are limitless. Rationing takes the form of health insurer rationing, self-rationing, and government rationing. Marginal Benefits Curve And Its Benefits Marginal benefits curves are essential when setting price points by healthcare services providers in order to be able to compete in the healthcare market. Marginal benefit refers to the benefits a consumer acquires from one unit to the next (Leung, 2016). As in the demand curve, the marginal benefits in healthcare decreases with any increase in unit quantity. The first unit refers to visiting the healthcare provider who owns the most benefit and considering that initially nothing has yet been done to the patient. The patient is starting from null and does not have any plans for treatment and no diagnosis has been made. The first visit will provide some answers or a solution to a patient, for example, the treatment plan or prescription. In the second visit, the verdict might emphasize that the customer is on recovery and in that case, the third visit might not be necessary. The importance of each visit decreases often referred to as the diminishing marginal benefit. Consumers allocate their finances based on the value associated with various needs, prices of their diverse picks, and their income. If the health providers ignore the capability of the patient, they might end up charging too high on their services forcing their clients to look for alternatives elsewhere or end up charging too low and thus fail to meet the service demand. In the modern world, there is no marginal benefit curve that matches the way in which God values humans. All individuals are equal in the eyes of God. Whether 99 out of 100 individuals have gained salvation, God would still sacrifice his beloved son to save the one lost person. In 1 Peter 1: 18, the bible tells us that it was not with perishable items such as gold and silver that we were saved, but through the blood of Jesus. References Leung, L. (2016). Health Economic Evaluation: A Primer for Healthcare Professionals. Primary Health Care, 6(223), 2167-1079.

Calculate the price of your order

Type of paper needed:

Pages:

You will get a personal manager and a discount.

Academic level:

We'll send you the first draft for approval by at

Total price:

$0.00

BUSI 429 Healthcare Economics

Calculate the price
of
your order:

Basic features

On-demand options

Paper format

Guaranteed originality

Affordable prices

Best experts

Calculate the price of your order

Expert paper writers are just a few clicks away

BUSI 429 Healthcare Economics

Calculate the price of your order:

Basic features

On-demand options

Paper format

Guaranteed originality

Affordable prices

Best experts

Calculate the price of your order

Expert paper writers are just a few clicks away

Calculate the price
of
your order: