Compare and contrast the use of various economic models to explain the role of economics in healthcare and how the concept of the

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Compare and contrast the use of various economic models to explain the role of economics in healthcare and how the concept of the market equilibrium works in healthcare.

The United States healthcare system is influenced by shifting political climate, constant economic development, rapidly evolving technological innovation, diffusion and social values, and demanding workforce issues and demographics trends. Also, the United States system is different from the systems of other countries on many dimensions: no central governing agency, limited coordination, high cost buy only yields average health outcomes, imperfect market conditions, private sector is the dominant market, multiple organizational forms and players, market goals and social justice are in conflict, etc.

 The concern over the economic future of healthcare systems revolves around three broad issues: cost, quality, and access. Gaps in coverage, combined with the upward trends in medical care spending over the past several decades, add to the commonly held belief that the United States healthcare systems are in crisis.

Write a 1,750- to 2,100-word paper addressing the following:

• Describe the economic foundation of the United States healthcare delivery system and the role of economics in healthcare.
• Compare and contrast the use of various economic models to explain the role of economics in healthcare and how the concept of the market equilibrium works in healthcare.
• Assess the role of production of health and demand and supply for medical care and health insurance, and the relation of income and demand for healthcare.
• Evaluate the responsiveness of demand for healthcare with respect to time, price, and income.
• Compare the economic benefits and challenges of individual versus population health.
• Assess the international comparisons of health among the United States and other developed countries (cost, quality, access to care, and any other relevant measure).