Specific Terminology Found in the Health Care Environment - Essay Example

 Specific Terminology found in the Health Care Environment Abstract This research was carried out to give a better comprehension as to how economic terms are used effectively in the healthcare system today. Word usage such as microeconomics, macroeconomics, elasticity, and regular economics are given profound meaning in this researched literature to allow for others who are unfamiliar with the terminology to gain a better cohesive understanding. The conclusion of the research sums up by stating how each of the various words that are defined in the research play a part in improving and regulating the healthcare system and its technology today. Specific Terminology found in the Health Care Environment Today With every New Year that passes there is a vast new array of health care terminology that pops up of which researchers and medical professionals have to become accustomed with. To do this they have to understand the meaning of the words used by studying them and searching for the most accurate definition available that brings collaboration between other economic areas in society and health care in particular. The following terms are directly applicable to the health care system today and in fact play an influential role in maintaining a proper medical environment because they are used to describe various needs of medical professionals, societal issues, and also lean towards what is needed with regard to costs and supplies in the medical environment. For instance when we think of economics we normally concentrate on business or issues such as home design, and other social areas that are separate from the health environment. However, economics actually is applied to the medical world by the social interactions that are involved. For example, economics becomes a part of the nursing environment in particular when they are trying to increase disease awareness in the community (Moffatt 2006). By focusing on a social aspect of healthcare such as what it takes to maintain a healthy lifestyle then the medical intent becomes one of an economic means that affects the whole of a society. This is what economics of healthcare can mean but it isn’t the only area that can be affected by the term. Cost of health care can become economic as well if there is a balance of cost versus health care to the public being adjusted in the management area of health care. So the term is actually multifaceted to reach many areas of the healthcare field but basically has a strong focus in the area of needed resources. Now, macroeconomics while similar to the basic economics of healthcare is still indeed different. When a person hears the term “macroeconomics” crop up in discussions concerning areas of healthcare the assumption about it is initially different than what it actually is implied to mean. Macroeconomics comes into play when medical professionals are trying to work on plans to decrease problematic areas in health care and make areas become more efficient to the generalized public. It in fact is a term that is often communicated when the cost of healthcare is being discussed as well as when an immediate need for an increased efficiency of care becomes a necessity within certain health care sectors. Microeconomics is even more similar to macroeconomics than the regular terminology of economics itself is though they all interlace with one another. Although microeconomics within itself will not be of assistance to doctors in reaching specific diagnosis’s, the terminology does play a crucial role when trying to acquire a more fluid understanding of this principle as well as ones relative to it. This is due to the fact that a better understanding of various economic principles can help medical professionals search for more logical methods to improve quality health care in a timely and cost efficient manner to the public. It can also help to find ways of managing resources that are needed more comprehensively. So it is easily seen how various economic terms are seriously put to use in the health care arena (Folland et al, 1997). The terminology of supply and demand is pretty easy to comprehend in the area of healthcare because these are common words that are utilized everyday within the practice of nursing, emergency care, and health care management. When the idea of elasticity emerges in healthcare it actually is referring to what the extent of the demand for a certain product or procedure is that exists (Phelps 1992). Elasticity also weighs the dependent and independent variables of a product or a procedure in that it looks to see how these areas would be affected if the costs were raised or increased in various ways. For example if the cost of an item goes up past the point of its need then it would lose its pertinence in healthcare but if it is at a cost that is considered to be efficient then it has a higher productivity in the health care area. Furthermore, this is a common term too but for those initially entering into the profession of healthcare it might be a new type of word usage that they are not wholly familiar with so it is good to study the various references of supply and demand that there can be. Inelasticity of course describes the demand of certain products even more clearly than elasticity does although the principle surrounding it is slightly different. For instance emergencies such as car accident victims, people suffering with broken limbs, and those who have illnesses that produce chronic pain would want immediate care and products that would meet their needs efficiently. This is when items and other essential tools in health care meet an inelastic type of mentality. The demand is higher, and therefore it is imperative that medical professionals can efficiently and adequately meet these patients need in an economic manner that is fair, equal, timely, and cost efficient. However, because the services required would be based on an emergency need there would not be heavy emphases on the cost of the service as there would be on the efficiency and quality of it. So the differences between elasticity and inelasticity are that elasticity refers to the cost of the product meeting the demand for it while inelasticity refers to the quality of the service needed with little regard for the cost at the time of the service. Through all of this it is seen how the terminology of economics, microeconomics, macroeconomics, elasticity, inelasticity, and the main idea of supply and demand come into play in healthcare more fluidly than before. In finality these all lead to the gross national product of specific services and medical necessities in healthcare. Depending upon the need, cost, and the efficiency of it determines what the gross product amount is going to be. Countries that are on a Universal health plan find it easier to equivilate the gross demand for health care products and services but countries such as the United States have a more difficult time because they are still ran by a private health care program. For instance in 2004 it was found that the US spent 16 % of the gross product on health care while other countries did far better in keeping costs in this area down to a minimum without affecting the quality of healthcare services. To conclude the research has given clear identifiable definitions of the terminology in question. It has shown the impact of economics in health care and how these various economic terms have an important role in the discussion and determination of needed services and products among healthcare patients and those in society with medical prescriptive needs as well. If there were any questions about the roles of the discussed word usage’s beforehand then they should now be comprehensively clear. References Folland, S. & Goodman, A. & Stano, M. (1997). The Economics of Health and Health Care. New Jersey: Princeton Hall Publications. Moffatt, Mike. (2006). Economics of the Flu. Retrieved June 25, 2006 from the World Wide Web: http://www.economics.about.com/od/healthcareeconomics/a/flu/_pandemic.htm Phelps, C. (1992). Health Economics. New York: Harper Collins. Read More