NR 451 Week 7 Discussion, Healthcare Economics (GRADED A)

NR 451 Week 7 Discussion, Healthcare Economics (GRADED A) Health care costs are on the rise. What is an example of wasted health care dollars in your clinical practice & how do you propose improving the utilization of these dollars? National health care spending has been on the increase in most countries in the world. The costs range from service charges, health insurance premiums & other underlying costs that come with production & delivery of medical services.Health service providers incur costs through the purchasing of medical equipment’s, pay for expert services amongst others.Governments on the other hand incur similar costs through public spending & other budgetary allocations. The increasing healthcare costs are however not reflective in the types of services offered to the public resulting in what may be called as wasted health care dollars. The different health care service providers for example charge different services for the same services. An example of the wasted health care dollars in this regard is reflected in the disparities between the value & the prices paid for the service. Most of the quoted prices for the medical goods & services are not reflected in their true value in improving health. Expensive surgeries & other medical operations do not necessarily provide long lasting solutions to the health conditions of those seeking the healthcare services. Angioplasty for example describes an operation to reopen narrowed or blocked blood vessels of the heart but it does not in any way prevent heart attacks or reduce angina in any better way than drug treatment alone. A patient thus incurs a double pay since they have to be on drug treatment before they get the surgery. The angioplasty is however several times higher in terms of pricing relative to drug treatment & yet both have near similar effects.It is thus imperative that government, healthcare providers & other authorities harmonize the prices for all equally viable options that fetch the same value in terms of service offered.