Terms Comparison Paper Hcs 552

Terms Comparison publisher HCS/552 February 4, 2013 John J. Schibler Terms Comparison Paper Health sustenance economic science involves making plenty of choices. Individuals, groups, businesses, and organizations choose how to usance resources . Economics and wellness c argon argon linked, because wellness c atomic number 18 professionals apply economics in their passing(a) professional activities. They argon able to do this through resource allocation. all health electric charge organization has to plan out how they will use their resources to their advantage. Health plow economics ar able to incorporate legal injury kindred cost, quality, and resources.In this paper, I will compare these wrong as they preserve to health finagle economics. In this paper, I will similarly apologize how they differ from one another. Resources are considered to be any physical affair or virtual element that has limited availability. A resource gutter also be anything that is utiliz e to help people earn a living. There are different types of resources such as human resources, and instinctive resources. In economics, human resources refer t human capital or employees in an organization (Getzen, 2007).Many times resources are considered to be a performer of factors of production. When health care organization is in production of something, natural resources are being used. Resources are usually limited, and most organizations have to look for shipway of allocating resources that they need. Resources in health care concocts that all materials and funds are used to provide health care for people. The term resource has comparable meaning in health care and economics. When used in health care, it gist that all materials and funds are used to provide health care.When referring to the economic portion of health care, resource means that they are the personnel, the funds, facilities, or any material used in production. Another similarity is that resources are lim ited and they have value. For example, funds, as well as personnel are limited, and they may hinder delivery of health care services and productivity. most(prenominal) people prefer to have quality health care. Quality may also have many a(prenominal) different meanings. Quality in health care economics means the superiority of something. This can also mean the outperform of something.Quality in health care can be goaded by determining if the health care is a great foregather for the person. Quality of health care can be considered as the advanced treatment for the beneficial illness, and also delivering health care at the right time. Quality in health care economics means to give way the exceed health care possible. Getzen (2007), states that medicine often involves life and demise situations (p. 12). In these situations, quality is crucial and quantity is irrelevant (Getzen, 2007). Quality cannot exclusively be added up or multiplied to arrive at a total spending limit .In medical care, get more ounces or pounds or boxes or whatever is usually not very important, but getting higher quality is. When referring to health care economics, cost refers to the funds that are used to deliver health care to patients. Cost can also mean the amount of funds used to access health care or to deliver health care (Getzen, 2007). It is applied in many different ways such as, health care professionals applying economic principles like cost benefit analysis, or cost effect analysis to particularize if the choice is good or bad.The principles help the government to provide the best intervention in health care (Getzen, 2007). In conclusion, all the terms are interlinked when discussing health care economics. This is so and will unceasingly be so, because health care professionals always apply economic principles in health care. All of these terms help when deciding how to cook up and provide the clear up interventions when making difficult decisions. When referri ng to resources, it has the same meaning when dealing with health care as well as economics alone.It means, materials, funds, employees and the facilities used in achieving goals tidy sum by the health care organization. While the term cost means something differently when separating health care and economics it all ties in when they are applied together in an organization. Cost means the funds used to deliver health care or when a patient is move to access health care. Costs can also be jilted when making decisions about health care. Quality means to give the best possible when delivering care to a patient as well as when making decisions about a health care organization.All of these terms are the same in making health care economical decisions. We count on on all the terms in this paper when trying to make an ethical decision as it relates to health care and health care organizations. The essence of health care economics is simply trade or making a buck (Getzen, 2007). Its foc al point will always be the market and the place where buyers and sellers exchange dollars for goods and services (Getzen, 2007). References Getzen, T. E. (2007). Health, economics, and financing (3rd ed. ). Hoboken, NJ Wiley & Sons. http//www. healthcarefinance. org/HEtext_files/chap01. pdf