Healthcare Economics

Healthcare Economics

Book- Henderson, James.W ,health economics and policy 6th ed.

Read chapter 11 and 12 and choose one question to answer below.

Select one of the following critical analysis and discussion questions and post your answer. Please write out the question at the top of your answer.

a. View the video entitled, “Professor Warren Debunks A Few Healthcare Myths.” (The link may be found in the Content section.) U.S. Senator and Harvard Professor, Elizabeth Warren, debunks a few healthcare myths and presents some shocking statistics about our healthcare. For example, one of the myths is that having health care means we’re all protected and safe. Professor Warren says “75% of the families who ended up in bankruptcy in the aftermath of a serious medical problem had health insurance at the onset of the illness or accident that ultimately landed them in bankruptcy.” After watching the video, briefly summarize and discuss these myths of health care system as explained by Professor Warren.

b. Is it important to characterize such social problems as alcoholism and drug abuse as diseases rather than behavior disorders? What are the implications of treating other social problems as diseases? What about obesity? Domestic violence? What are the economic implications for the medical care system of the proliferation of these new “diseases”?

c. “It is impossible to place a dollar value on life. In other words, life is priceless.” How does this view create a dilemma for social decision making and effective resource allocation?

d. The United States takes pride in free market system, freedom, and individual achievements, yet one of the major problems in dealing with any welfare program is the tension between individual and social responsibility – Medicare is no different. Should adult children be responsible for the medical expenses of their parents? Where does individual and family responsibility end and social responsibility begin? Discuss the main issues surrounding the high cost of Medicare and Medicaid and what can be done to contain the cost in coming years.