Ch12.docx - Ch 12 Assignment 1 What is meant by the term...

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Ch. 12 Assignment 1. What is meant by the term “health care costs”? Describe the three meanings of the term “cost.” Cost in health care has three different meanings. First is price of health care services which includes consumers and finances which speak of the price of health care services as the cost of healthcare. Second is n ational health care expenditures which refers to how much a nation spends on health care services and reflects the consumption of economic resources in the delivery of health care. Thirdly there is p rovider perspective in which the cost refers to staff salaries, capital costs for building and equipment, rental of space, purchase of supplies and other costs of production. 2. Why should the United States control the rising costs of health care? The United States should control the rising costs of health care due to the large amount of money spent on health care. The increased costs of health care force
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