Everything that happens within health care is all

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entrepreneurial concerns” (Kluge, 2007). Everything that happens within health care is all thanks to practice. Each result is not guaranteed because each situation is different and will have various factors, most of which are beyond the controls of a health care provider. Economics is a behavioral science and there are two propositions that can be said about human behavior. “First, human behavior is purposeful or goal directed, implying that persons act to promote their own interests. Second, human desires and demands are unlimited; however, resources are limited and cannot meet unlimited demands” (Scott, Solomon, & McGowan, 2001). Every health care organization has the bigger goal of getting the most out of the limited resources that are available. Regardless of whether they are patients themselves, a hospital administrator, an insurer, or the society as a whole. Using and applying economic thinking in health care is going to give challenges to researchers therefore making them come up with different ways to approach analysis. One such challenge is when it comes to patients and measuring how productive their hospital care was because of the fact that the patient is considered both an input and output in the overall productive process. For example, “the patient's health is a function of factors determined outside the hospital, such as lifestyle and genetics. Precise and accurate information from hospital epidemiology is critical to understanding the resources needed, and thus the economic impact, of caring for hospitalized patients” (Scott, Solomon, & McGowan, 2001). Use of Economic Principles Healthcare administrators should keep informed of new, cost-effective treatments that can reduce healthcare costs and improve outcomes. Managing the costs of care associated with chronic conditions is of primary concern for hospitals and health systems responding to reform -- driven
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9-1 Final Project 7 pressures to lower their overall costs of care” (Amir, 2014). Moffitt has been transforming cancer care over the past 30 years with exponential growth, through service, science and partnership. “With more than 5,400 employees, [Moffitt] is fueling our local [Florida] economy, generating more than $88 million a year in grants and public and private partnerships” (Florida Trend, 2017). There are over 150 interventional clinical trials initiated by Moffitt researchers, with more than 400 others that are active. Last year, Moffitt treated over 56,000 outpatients, and they boast “an economic impact of more than $2.1 billion annually and a passion for research that's bringing more jobs, new technologies and better cancer care for everyone. That will ultimately make survival rates better for future patients” (Florida Trend, 2017). Moffitt's “economic and fiscal impacts in Florida results from its ongoing research and patient care activities and annual capital investments” (List, 2015). Moffit has a direct indirect, induced, and public impact on the economy.
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  • Spring '17
  • Moffitt, 9-1 Final Project

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Christopher Reinemann
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