The Economics of Healthcare

Paper Summary:

This paper discusses healthcare budgeting process as it impacts the economics of the industry relevant to the government rules and regulations that define the overall process. Of particular importance are the Medicaid and Medicare programs and how recent changes in policies and the regulatory environment have impacted the healthcare industry. Overall, the regulatory environment of the Medicare and Medicaid government programs has made healthcare budgeting and economics a much more problematic endeavor.

From the Paper:

"While most administration officials view the economics of healthcare budgeting to be nothing more than a specialized version of the normal business budgeting process, in the healthcare industry, this viewpoint can be problematic. The core activities of the healthcare budgeting process are fairly straightforward and can be largely automated through specialized industry software. But the economic impact on the wider community that this process engenders is an extremely important consideration because the budgeting process determines pricing for services, taking into consideration insurance and government restrictions, and this process impacts affordability. Within this process are such line items as staffing requirements, workload activities, as well as a host of variables."

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