Health Care Essay Sample Paper on Health Economics

Health Economics

            In both countries, i.e. Canada and Ukraine, there was a decline in the health care funding in 1990s, which significantly affected the health economics of these countries. This was due to the Soviet Union in 1991 for the Ukraine and economic recession for Canada, which resulted to significantly low cutting measures of expenditures as far as health and health care expenditures are concerned. In the same period of time both Canadian and Ukraine’s GDP fell due to economic recession in Canada (Refworld, 2013). In Canada, over the past decade, the life expectancy was 75.8 years among men and 81.4 years for women as compared to Ukraine which was 62.2 years for men and 73.3 years for women this was because poor healthcare systems. In Canadian, the decrease in tobacco and alcohol consumption facilitated the increase in life expectancy among men and women. In 1990s, the same life expectancy in Ukraine fell to 71.4 for men and 79.0 for women and consequently, this lead to a population decrease (Holtz, 2008). In Canada most of the people waiting to be served in the health centers where many and waited for quiet along time this was due to physicians and nurses to the patient ratio. Unlike in Canada, the Ukrainian health centers and units where determined by the population and the healthcare market was well distributed in a bid to meet the healthcare needs of the people. In the recent years, Ukraine has had a larger number of physicians per capita compared to Canada (Refworld, 2013).

            The effect of Patient Protection and Affordable Care Act (PPCA) or the celebrated Obamacare will significantly affect Panama economics stance as well as the overall global health market. In particular, the people of Panama will be able to enjoy not only cheap and affordable but also quality health care services with others able to access free or low cost health insurance. The act seeks to work in a manner of shifting the system towards quality over quantity. The health market will be characterized in a manner that health care spending in Panama is significantly reduced to ensure accessibility and affordability of health care services. The act demands that health insurance companies ought to cover sick people and certainly, this augments the insurance cost of covering every individual patient (Antos, 2013). Besides, because of the fact that the Patient Protection and Affordable Care Act concentrates highly on ensuring that many people receive health insurance covers, the act does not clearly explicate the implication of this initiative as far as costs are concerned. In other words, Panama and the global health market could become expensive in the long run due to the need to compensate the huge costs incurred in covering each individual patient. As such, because of the enormous costs, some insurers may easily boycott certain places, as they have to make plans in a bid to deal with subsidies and extra taxes in boroughs where they operate. Doctors or physicians on the other hand will be more disadvantaged than advantaged because of the fact that they will be subjected to tremendous pressure from government due to hefty rules and regulations that will simply make their work extra harder (Antos, 2013). Therefore, this burden will eventually be reflected in the health market making it even more expensive than expected.

References

Antos, J. (2013). Obamacare’s impact on insurance companies: Antos on Fox Business’ ‘Markets Now’. Washington, DC: American Enterprise Institute.

Holtz, C. (2008). Global Health Care: Issues and Policies. New York: Jones & Bartlett Learning.

Refworld. (2013). Ukraine: the structure and administration of the health system. UKR104121.E .