Essay on Supply And Demand Economic Theory As It Applies To Costs For Diagnosis And Treatment Of Obesity-Related Disease
For this Assignment, you will review the demand for health care services within the context of patient obesity and expenditures by each state for related health care services. How does obesity impact federal and state resources that are available for health care services?
1.Discuss supply and demand economic theory as it applies to costs for diagnosis and treatment of obesity-related disease.
2.Discuss the impact on State funds of Medicare and Medicaid expenditures. See Table 1, Estimated Adult Obesity-Attributable Percentages and Expenditures, by State (BRFSS 1998–2000).
3.Speaking as a healthcare economist, what actions or initiatives would you recommend to contain or reduce costs for your particular state of residence?
In the recent years, obesity has grown to be a major epidemic in the United States, with a third of the adult population diagnosed for obesity in the country (Boero, 2012). The situation has developed to worsen the health care situation in the country and considering health care is a fundamental economic good, the obesity scenario in the US is a major threat to economic development of the country. The health of people in a country has a positive relation with economic health of country and therefore, a healthy population would always means a healthy economy. Several researches have confirmed that obesity negatively, affects the economy of United States, in a great way and this has resulted to a lot of concern among policy makers (Chan and Woo, 2010). Obesity is associated with various economic costs such as direct medical costs, human capital costs and productivity costs, whose intensity can be detrimental to an economy of a country (Hammond and Levine, 2010).
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