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Running head: HEALTH CARE INDUSTRY PAPER1Health Care Industry PaperJennifer EdwardsHCS/449July 29, 2015Janine Lewis
HEALTH CARE INDUSTRY PAPER2Health Care Industry PaperHealth expenditures have been growing rapidly for many years. There are reasons of rapid growth and it comes at the expense of where we are as a society (finances), the economy and technology. These three focuses on how and why health care is the way it is today. The health care system ten years ago was declared broken. Promises to fix the system have been a hassle and remain stagnate for growth. When problems grew with patient satisfactory even greater challenges continue to grow and worsen with technology and how efficient treatment andthe cost of treatment will be for many. Some employers begin to eliminate benefits for new hires;other companies provided insurance for themselves only. With so many uninsured citizens, there had to be a change. Looking on from the past, present and the future of the health care industry in relation to technology, finance and the economy, one would begin to see some resolution but no change, until the Obama Care (Affordable Care Act).The Past Health Care IndustryMany changes in the past of health care gone over looked. One would see at first sight theway medicine was taught. It was taught and learned by physicians with diagnostic skill and their innovative mindset which led other practioners to lend a hand to finding a cure and having a focus on what is health. Driving many of the diagnostic testing was reimbursement. When the government took control offering physicians to handle payment and coding reviews, many physicians thought it was a great idea. This was a great way to pay for expensive equipment purchases, even hire some employees to keep watch over databases. It was streamlined and was the system of many providers who could control model of care. Callahan (2008), “Largely due tothe use of medical technology, those costs are now increasing at an annual rate of 7% a year. The Medicare program as a consequence is projected to go bankrupt in nine years, and overall health
HEALTH CARE INDUSTRY PAPER3care cost to go from its present $2.1 trillion annually to $4 trillion in 10 years. Those rising costs are an important reason why the number of uninsured keeps going up. Business finds it harder and harder to pay for employee health benefits, and only 61% of employers even provide them