Economic Terms and Healthcare History Advent of Managed...

Jpz777 03/20/2013 Order # A2088759 Introduction Within the capitalistic economic structure that defines American commerce, the delivery of healthcare has largely shifted from an emphasis on public service to the pursuit of commoditized profit generation, but because good health is unlike any other product on the market the evolution of healthcare economics has been muddled by the advent of managed care. While the law of supply and demand reigns supreme in the exchange of traditional goods and services, emergency surgical procedures, prescription medications, and in-patient care are all provided through a relatively competition-free environment. The traditional model in which a Primary Care Physician (PCP) served the vast majority of his or her local community, providing the full spectrum of basic healthcare services from the delivery of infants to annual immunizations, precluded consumers from exercising that fundamental right guaranteed by capitalism: the ability to shop for the best deal. Despite the high costs associated with t he microeconomics of the PCP model, Americans largely tolerated the proverbial monopolization of healthcare delivery because they invested a tremendous amount of trust in their PCPs, who in many small- to medium-sized towns developed lifelong relationships with patients, assisting their births, providing pediatric care, administering adult physical examinations, and even providing convalescent and end-of-life care to members of their community.Show MoreRelatedStrategic Analysis for Pfizer Company4528 Words   |  19 PagesStrategic Analysis for Pfizer Incorporated Strategic Analysis Competition, typically the most powerful external force, is increased by the advent of globalization. The number of companies and the number of countries where these companies operate and the way governments are dealing with the impacts of globalization is accelerating. 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