Economic Issues Flashcards
Is healthcare a right or privilege in the USA?
Privilege
What are the 2 main economic issues of health care?
- Lack of equity in health care need
- Lack of equity in health care resources
What is the difference between macro-allocation, and micro-allocation?
Macro: How does the “system” distribute care
Micro: How is care distributed to individuals
What are the 3 methods of macro-allocation?
- Free-market
- Mixed
- Egalitarian
Which macro-allocation method is the traditional US system?
Free-market
What is the free-market system?
- Based on exchange of resources
- Get care that you can pay for through private funds or insurance
What is the mixed system of macro-allocation?
- Partial free-mark or 2-tiered system (medicare)
- A minimum level of care is guaranteed with ability to pay for more if you choose
What is the egalitarian system of macro-allocation?
Everyone receives the same level of care with no option to acquire additional care
Where is the egalitarian system in place?
Canada and Europe
What are the pros and cons of the free-market?
Pros: Foster innovation and competition
Cons: There are haves and have nots
What are the pros and cons of mixed system macro-allocation?
Pros: Everyone gets a minimum level of care
Cons: Still haves and have nots
What are the pros and cons of the egalitarian system?
Pros: Everyone receives the same quality of care
Cons: May not be as sophisticated as care received on free-market
What percent of civilians were uninsured in the US in 2006?
15 % or 47 million
What is the US’s ranking in the world “Health System Performance”?
37th
What percentage of GDP did healthcare costs represent in the US in 2007?
16.2% (Projected to be 20% by 2015)
