Healthcare Market

Topics: Health care, Insurance, Health care in the United States Pages: 3 (853 words) Published: February 11, 2013
Health Care Market

Health Care Market
The healthcare industry is experiencing degrees of stress on many of the services provided. This is due to a many reasons. The aging population or baby boomers will continue to place expense pressures on the industry as they age creating increased needs related to basic maintenance care leading to potential for placement in long-term care. Currently the government on the state and federal levels is trending toward decreased reimbursement for services provided. Currently the United States is the largest spending country per capita in developed countries related to healthcare spending without outcomes supporting the expense. Further complicating the industry is the insurance industry as stakeholders limiting risk pools to protect optimum profitability. Government intervention within the healthcare industry in 2011 with the idea of supporting high risk pools and mandating insurance will provide funding for the industry, yet the long-term outcomes are yet to be realized. Baby boomers impact on the healthcare industry over the next 10-40 years will likely place the most pressure on the overall healthcare industry. With this large projected increase in the elderly population in the country there will be a great deal of demand placed on the industry and likely the supply of everything from physicians, nurses, specialists and care givers will be in increased demand. Medical equipment such as diagnostic machinery and other services such as labs and supplies will be in great demand to support the needs of the United States population. Current medications which have flooded the market in the last 10-15 years will also be cycling out of their patents during peak times of the boom placing them into a generic status which may bring a reprieve to burgeoning costs elsewhere within the industry.

“Three main explanations for the increase in pharmaceutical expenditures observed among US seniors: increased utilization of prescription...

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O 'Neill, C., Hughes, C. M., Jamison, J., & Schweizer, A. (2003). Cost of Pharmacological Care of the Elderly: Implications for Healthcare Resources. Drugs & Aging, 20(4), 253-261.
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