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HEALTH & MEDICAL
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Health & Medical
Student’s Name:
Course Number:
Date
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HEALTH & MEDICAL
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Introduction
Undoubtedly, increasing healthcare costs have emerged as a major issue nowadays,
mainly when the cost of living is appreciably high. Day by day, patients are losing their lives
since they cannot afford medical services. Again, the cost of insurance premiums are increasing
at an all-time high and is becoming an upward trend. In such critical circumstances, there is a
need for overall healthcare organizations to come up with strategies that can help mitigate rising
costs. Healthcare systems that take appropriate strategies and control over operating costs have a
greater probability of success than those that do not (Tong et al., 2018). This assessment will
analyze a financial issue in the healthcare industry, economic trends, challenges for healthcare
services in terms of supply and demand, and why healthcare costs are increasing, regulatory
issues, strategies, and recommendations.
Economic trends of the health care payment system
Typically, economic trend refers to the overall direction in which healthcare systems'
economy is moving. It is imperative to analyze the economic trends to both plans and costeffectively provide quality healthcare services. Additionally, there are numerous economic trends
of the healthcare payment system, including rapidly increasing healthcare costs. Increasing
healthcare costs has become a key concern for many individuals, societies, and nations as well
(Arya, 2020). The ability to cope with this issue is unbearable, and its implications are a huge
blow, especially to the low-class people. Various aspects contribute to increased healthcare
costs—for example, the increasing cost of prescription drugs and increased technologies in the
medical industry. The increasing number of chronic illnesses, the elde...
