Consider a healthcare decision of a personal or professional nature

Consider a healthcare decision of a personal or professional nature that you, a family member, or colleague had to make that was influenced by economics. Then reflect on what role economics had on the decision that was made. Finally, think about how economics impacted the delivery of healthcare due to the decision that was made. (1page max)

You are presenting a leadership orientation on the topic of economics looking through the lens of healthcare. To begin the Assessment, create a pamphlet describing the following concepts to which members of leadership can refer after the presentation. Be sure when addressing each of the items below to include references and examples to help demonstrate the concepts: Additionally, .gov (government expert sources) are a quality resource option. Note: Internet and .com sources do not meet this requirement.

1. Explain the definition of each of the concepts for Healthcare Economics: cost benefit analysis; cost effectiveness; quality-adjusted life year; value of life (payments). Pamphlet provides at least one specific example of how each of these concepts apply to their specific healthcare setting or one in which they are familiar. Pamphlet includes references to relevant academic/professional resources.

2. Explain why these economic concepts are important to healthcare administrators as it relates to healthcare spending and current healthcare economic policies to control spending. Pamphlet provides specific examples of how healthcare administrators apply economic concepts and policies to control healthcare spending. Pamphlet includes references to relevant academic/professional resources.

3. Describe the role of supply and demand in healthcare as demonstrated through use of an example of good, services, and labor markets. Why would a supply and demand analysis be a useful tool as a healthcare administrator? Pamphlet includes the demonstration of supply and demand in healthcare through the use of more than one example of goods, services, and labor markets. Pamphlet includes references to relevant academic/professional resources.

4. Medicaid provides price subsidies that increase service utilization among low-income populations. Describe the relationship between income and healthcare utilization. Pamphlet includes a specific example to illustrate the relationship between healthcare utilization and low-income populations and the impact of this relationship on the delivery of care. Pamphlet includes references to relevant academic/professional resources.

5. Describe how the PPACA (Patient Protection and Affordable Care Act) has impacted the economics, supply and demand, and the cost to individuals for healthcare coverage. Pamphlet includes a specific example to illustrate how PPACA impacts economics, supply and demand, and cost to healthcare organizations as well individuals. Pamphlet includes references to relevant academic/professional resources.