This paper stresses that the cost of healthcare facilities has become a major issue in most of the countries. Treatment cost is greatly influenced by the increase in research and development in the medical sciences. The technological advancement requires more funds from the government. Cost is directly related to the quality of services; for instance, in order to acquire improved quality services patients have to spend more money on their healthcare. Similarly in this case also patients have to pay more for better quantity of healthcare. Subsequent increase in the cost of healthcare has put additional stress over the management of medical service providers and also on the government and household budgets.
This report makes a conclusion that the trade-off between quality, quantity and cost basically revolves around the preference of patients and the way they are served by the medical service providers. The trade-off is usually between quality and cost, in order to avail best quality health care services patients pay more to the service providers hence they forgo the cost to avail the quality benefits while on the other hand they save cost and compromise on the quality which is a rare case. The healthcare service providers seek to charge customers with increased cost while maintaining the same quality and quantity. This further adds to the discomforts of the patients. The trade-off scenario can be easily solved by maintaining a balance between cost and quality in addition to eliminating the extra charges which are frequently imposed on the patients. ...Show more