Healthcare Economics

 Baby boomers consist of those persons who were born between the years of 1946 to 1964; the rapid birth rate during this period has resulted in the United States economy consisting of over 25% of these elderly persons, which means a major need for healthcare. Economics surrounding this era has resulted in more need for retirement healthcare, which means long-term care for the needs of the elderly. Healthcare economics for the elderly address both the needs of men and woman but it is usually the man that retires first. Statistically proven, women not only live longer than men, but they also work many more years and therefore do not need to retire as early. The economic industry surrounding the healthcare sector therefore has to take drastic measures in order to provide efficiently enough for our well-respected and loved elderly people.

The problem with healthcare economics does not primarily lie with the baby boom generation; it also lies with the cost of medical expense. Doctors’ consultations, medications, prescriptions and hospital fees are extremely expensive, and for persons who do not have health and medical insurance, paying out of the pocket may possibly entail not being able to buy food for the month. Secondly, there are many arguments that have been brought forth that state doctors’ prescribe medication but make constant re-appointments to see their patients over and again, this may be necessary on some occasions but having to pay repeatedly for consultations not only increase healthcare economics, but it also makes one poorer. So how can the country as a whole improve overall healthcare economics? There have been many suggestions made but the underlying factor should be to consider everyone at the same time, both the doctors’ and the patients. Taking for example a doctor or a GP, they only make money when people are sick, and considering the world in which we live, there are bound to be several patients per month. Secondly, many people do not want to visit GP’s or doctors because of their large expense, the solution should therefore be one that benefits all. Instead of doctors charging ridiculously high prices and patients only visiting their doctors when necessary, healthcare economics can be improved with smaller fees and visits that are more regular.

Patients are keener to visit specialists when the price is affordable, in this manner; they are also more likely to return for checkups. Concerning the doctor, instead of having a few patients who are paying a lot, why not rather use the expertise you have gained on a large number of patients at a cheaper and more affordable rate. Healthcare economics will just continue to increase if one person is trying to win over the next, instead, as an economy, people should rather try to help each other and in the same token, they will be helping their country too.