Essay on "Healthcare Industry/Medical Laboratories"
Essay 4 pages (1805 words) Sources: 4
[EXCERPT] . . . .
"A fall in the price elasticity of the demand for medical services raises the prices of medical services. That the price elasticity of demand may fall is not only suggested by the change in average health status." The relationship of the doctor toward the patient is expected to become more important in the future through persistence in the program. "The effect of this persistence is also lower price elasticity enabling physicians to collect higher margins on the services they provide (Daron 2008)." Ageing is driving up health expenditures.Conclusion
As healthcare business continues to grow at a steady rate, medical laboratories must strategically plan ways in which to remain current with new technologies and competitive within the marketplace (Anna 2005). Laboratories must explore new technologies and implement those that are found to be advantageous to patient care and profitable to perform. To this end, laboratories should explore avenues in which to increase production without increasing cost considerably (Eddy 2007). Full automation of the laboratory is one way in which this goal could be accomplished, and it should be aggressively explored as an option. The prices charged for laboratory services will need to be adjusted accordingly in order for existing laboratories to remain competitive should the market structure change. Prices will be raised, and more training incentives should be implemented in order for the medical professionals to be available to meet the demand for the future. Prices will also have to increase as part of the incentive plan (Daron 2008).
References
Daron Acemoglu, David Cutler, Amy Finkelstein, and Jos
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Daron Acemoglu and Amy Finkelstein. Input and Technology Choices in Regulated Industries: Evidence From the Health Care Sector. Journal of Political Economy, 116(5):837{880, October 2008.
Eddy M.M. Adang and George F. Borm. Is There an…
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Quoted Instructions for "Healthcare Industry/Medical Laboratories" Assignment:
“Economic Tools and Concepts Paper
• Write a 1,050- to 1,400-word paper that uses two to three economic tools and concepts to evaluate a current issue or situation that exists in today’s health care industry. Some examples of economic tools and concepts are supply and demand curves, marginal analysis, and elasticity. Include a narrative summary for any charts, graphs, and figures that are used. Consider searching Web sites to view national charts, graphs, and figures that may provide you data concerning economic tools.
How to Reference "Healthcare Industry/Medical Laboratories" Essay in a Bibliography
“Healthcare Industry/Medical Laboratories.” A1-TermPaper.com, 2011, https://www.a1-termpaper.com/topics/essay/healthcare-industry-medical-laboratories/4240. Accessed 6 Jul 2024.
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