Economics Of Healthcare at Universität Kassel | Flashcards & Summaries

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Lernmaterialien für Economics of Healthcare an der Universität Kassel

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1. What is economics? 

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  • Study of choices under conditions of scarcity 
  • Unlimited needs, limited resources


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2. Scarcity (relationship)


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...is related to the tension between unlimited needs and limited possibilities to fulfil those needs

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3. Allocation: Economics is thus concerned with the alocation

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Economics is thus concerned with the allocation of scarce resources among competing demands.

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4. opportunity costs

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All resource uses have an opportunity cost (= cost of the best alternative option)

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5. Choices

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Economists study society and the choices people make. 

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6. What economists do?

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They study the choices people make and what are the most efficient choices


  • Explain how our economic system works
  • Forecast the future of our economy
  • Suggest way to make the future even better
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7. What is health economics?

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  • Applied field of economics
  • Study the choices/behavior of individuals, health care providers, public and private organizations, and governments in health decision-making
  • Study of how (scarce) resources are allocated to and within the healthcare system
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8. What is healthcare economics? 

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  • The subject of analysis is the health (medical) care industry, not health
  • Health care influences health but also other commodities including nutrition, sanitation, leisure time, etc.
  • Arrow 1963 is regards as the birth of health economics ( => reference list case 1)
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9. Health economics is different

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  • demand for health care is a derived demand (for health)
  • existence of externalities (these refer to costs or benefits of consumption/production of a good for others than the direct users)
  • informational asymmetries between health care providers and patients
  • uncertainty with respect to both the need for and effectiveness of health care
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13. Government interference in health care

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  1. Presence of externalities (e.g. passive smoking; vaccination) => smoking bans
  2. High research and development cost => patent protection
  3. Market power (e.g. monopoly) => drug price regulation
  4. Nature of goods (e.g. collective goods such as public health program) => national vaccination program
  5. Uncertainty => insurance
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15. Some challenges for health care system

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  1. More demand for health care with rising healthcare expenditures challenges us to make choice
  2. medical and technological advancement challenges
  3. healthcare regulatory challenges
  4. increasing expectations from patients
  5. more healthcare demand puts the labor market under pressure and asks for innovation
  6. Institutions matter
  7. The proper role of market and government

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  • Importance of organizational innovation (4), of efficiency (case 3), and of patient involvement (case 6)
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16. The future of health economics

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To successfully meet new challenges, health economics need to consider new theoretical, empirical and methodological approaches.


--> behavorial economics and experimental economics





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  • 90950 Karteikarten
  • 2207 Studierende
  • 73 Lernmaterialien

Beispielhafte Karteikarten für deinen Economics of Healthcare Kurs an der Universität Kassel - von Kommilitonen auf StudySmarter erstellt!

Q:

1. What is economics? 

A:
  • Study of choices under conditions of scarcity 
  • Unlimited needs, limited resources


Q:
2. Scarcity (relationship)


A:

...is related to the tension between unlimited needs and limited possibilities to fulfil those needs

Q:

3. Allocation: Economics is thus concerned with the alocation

A:

Economics is thus concerned with the allocation of scarce resources among competing demands.

Q:

4. opportunity costs

A:

All resource uses have an opportunity cost (= cost of the best alternative option)

Q:

5. Choices

A:

Economists study society and the choices people make. 

Mehr Karteikarten anzeigen
Q:

6. What economists do?

A:

They study the choices people make and what are the most efficient choices


  • Explain how our economic system works
  • Forecast the future of our economy
  • Suggest way to make the future even better
Q:

7. What is health economics?

A:
  • Applied field of economics
  • Study the choices/behavior of individuals, health care providers, public and private organizations, and governments in health decision-making
  • Study of how (scarce) resources are allocated to and within the healthcare system
Q:

8. What is healthcare economics? 

A:


  • The subject of analysis is the health (medical) care industry, not health
  • Health care influences health but also other commodities including nutrition, sanitation, leisure time, etc.
  • Arrow 1963 is regards as the birth of health economics ( => reference list case 1)
Q:

9. Health economics is different

A:
  • demand for health care is a derived demand (for health)
  • existence of externalities (these refer to costs or benefits of consumption/production of a good for others than the direct users)
  • informational asymmetries between health care providers and patients
  • uncertainty with respect to both the need for and effectiveness of health care
Q:

13. Government interference in health care

A:
  1. Presence of externalities (e.g. passive smoking; vaccination) => smoking bans
  2. High research and development cost => patent protection
  3. Market power (e.g. monopoly) => drug price regulation
  4. Nature of goods (e.g. collective goods such as public health program) => national vaccination program
  5. Uncertainty => insurance
Q:

15. Some challenges for health care system

A:


  1. More demand for health care with rising healthcare expenditures challenges us to make choice
  2. medical and technological advancement challenges
  3. healthcare regulatory challenges
  4. increasing expectations from patients
  5. more healthcare demand puts the labor market under pressure and asks for innovation
  6. Institutions matter
  7. The proper role of market and government

--> 

  • Importance of organizational innovation (4), of efficiency (case 3), and of patient involvement (case 6)
Q:

16. The future of health economics

A:

To successfully meet new challenges, health economics need to consider new theoretical, empirical and methodological approaches.


--> behavorial economics and experimental economics





Economics of Healthcare

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