The basic economic laws of supply and demand do not work the same way in the health care industry as they do in other industries. A few of the contributing issues include: demand cannot be restricted to only those with an ability to pay since health care is considered a basic human right (need versus demand); demand is increased due to a third party (insurance or government) that pays for the service; and our supply is limited based on a highly skilled human resource variable (physicians). In this assignment, you will consider these contributing issues and others that you identify in your research as they relate to the free market. Compare and contrast the laws of supply and demand of the health care industry with that of the automobile industry and explain how the economic structure of the health care industry is different from other industries. Review the media piece Health Care Supply and Demand.

1. Compare and contrast the demand of health care services with the demand of an automobile (Competency 2).

a. Identify the key contributing factors that determine demand of health care services.

b. Identify the key contributing factors that determine demand of an automobile.

c. Compare and contrast the similarities and differences of the demand curve of these two industries.

2. Compare and contrast the supply of health care services with the supply of an automobile (Competency 2).

a. Identify the key contributing factors that determine supply of health care services.

b. Identify the key contributing factors that determine supply of an automobile.

c. Compare and contrast the similarities and differences of the supply curve of these two industries.

3. Discuss current legislative trends that influence the supply and demand of health care (Competency 1).

a. Explain how Medicare and Medicaid impact supply and demand of health care services.

b. Discuss the impact of the uninsured population on the supply and demand of health care services.

4. Analyze reimbursement methods that influence the supply and demand of health care services (Competency 3).

a. Identify the stakeholders who pay for health care services.

b. Analyze the impact of different reimbursement methodologies and payment models on the supply and demand of health care services.

5. Write clearly and logically with correct use of spelling, grammar, punctuation, and mechanics; correctly format citations using APA style (Competency 5).

a. Determine the proper application of APA formatting requirements and scholarly writing standards.

b. Apply the principles of effective composition.

c. Determine the proper application of the rules of grammar and mechanics.

d. Assess the relevance and credibility of information sources.

Submission Requirements

• Written Communication: Prepare a paper free of errors that detract from the overall message. Writing is clear, precise, and scholarly. Concepts flow in a logical order.

• References: At least three references from peer-reviewed journals, in addition to your text.

• Length: 5 page paper.

• APA: Correct use of APA style and formatting.

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