This week, we are going to discuss a broad overview on healthcare economics. We
This week, we are going to discuss a broad overview on healthcare economics. We we hear economics, tend to think about supply and demand. We we are going to review production of healthcare services and continue our discussion on supply and demand. We will discuss what causes shifts in the cost curve. Specifically, we will review factors like technology to provide patient care. Electronic medical record implementation is a good example of how the cost curve can shift. This technology is expensive to implement and we see a shift in the cost curve, however since implementation of electronic medical records we have see an improvement in patient health outcomes. Think about an example to share with us in the discussion this week. The supply curve can shift due to many factors as well. This could be regulatory and compliance changes along with labor costs. When labor costs increase, we would see a shift in the supply curve. Demographics for patients and healthcare workers also can cause a shift in the supply curve. For example, a nursing shortage could mean that a hospital may offer a sign on bonus to recruit nurses. Please think about an example to share with us this week. This week, we are going to discuss a broad overview on healthcare economics. We we hear economics, tend to think about supply and demand. We we are going to review production of healthcare services and continue our discussion on supply and demand. We will discuss what causes shifts in the cost curve. Specifically, we will review factors like technology to provide patient care. Electronic medical record implementation is a good example of how the cost curve can shift. This technology is expensive to implement and we see a shift in the cost curve, however since implementation of electronic medical records we have see an improvement in patient health outcomes. Think about an example to share with us in the discussion this week. (Answer this question) The supply curve can shift due to many factors as well. This could be regulatory and compliance changes along with labor costs. When labor costs increase, we would see a shift in the supply curve. Demographics for patients and healthcare workers also can cause a shift in the supply curve. For example, a nursing shortage could mean that a hospital may offer a sign on bonus to recruit nurses. Please think about an example to share with us this week.

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