Health EconomicsEssay Preview: Health EconomicsReport this essayHealth economics is a subdivision of economics central to issues correlated with the effectiveness, significance and performance in the structure, production and utilization of the healthcare industry–and the evaluation of numerous categories of calculated financial information including: measured value, consumer costs and industry expenditures. In general terms, health economists analyze the health effects of behaviors–the finances, efficacy and operations of health care systems –and the competitive symmetry in the five health markets. The five health markets generally studied are:
Health care financing marketPhysician and nurses services marketInstitutional services marketInput factors marketProfessional education marketWhile the current quality or condition to change in healthcare as a private benefit is preserved, in the last three markets, market failures result in the financing and delivery markets because accurate information about product price is not a pragmatic conjecture–and various limits of access exist in the financing markets; such as the monopolistic structure of the health insurance industry.
Medical technology is generally classified as an Institutional Services Market and encompasses of all aspects involved in the treatment of disease–which includes the utilization of medical devices, and surgical and pharmaceutical interventions–and is of vital importance in relation to individual health and, as a result, for general wellbeing. Progress and advanced developments in medical technology transmit a vista of both enhanced public health and increased universal welfare. However, due to extensive governmental regulations concerning the healthcare goods and services markets; the developments, improvements and utility of medical technologies essentially differs from non-medical technological progress and improvements. (Grossman, Lindgren, & Bolin, 2011)
The Medical Research & Treatment sector has its core competency to support the development of a wide range of technological and scientific contributions to biomedical research. However, it needs to evolve a more sophisticated and comprehensive view into its own scientific development. This transformation will require an understanding of the many processes, processes, and technologies involved, including the interaction between the medical and medical science sectors. The basic framework of medicine and science sectors is outlined below, in order to enable their interconnectivity and to provide a complete knowledge base for the new role that science and medicine are currently co-extensively engaged in.
First Steps for a New Role: Reaching a Third World and Understand the Dynamics of Science and Technology.
Italics in the title are intended to serve as clarifications of the important distinction between the physical sciences. In order to understand how science and medicine interact and develop a broad understanding of the potential consequences of technology, many of the above questions and their associated concepts have to be put to practical action. The first step of this process, however, is to develop a fundamental knowledge base about a wide range of biological, technical, physical and cultural aspects. This should be accompanied by the application of a range of research strategies such as:
Initiabilis: a framework with practical insights that will enable future researchers to conduct research and conduct further scientific research without having to rely on specialized staff or a professional background in the field of biomedical research. Relevant fields have to be selected, implemented, and mapped, for example, for research ethics, ethics of physical medicine, ethics of chemistry, biomedical ethics, bioengineering, biomimetic biology, or biomedical ethics of human origin.
Ego: a reference to the nature of physical interactions on the field of natural sciences, using the language of science. Examples of such resources are: materials theory, mechanical and electronic engineering, electrical engineering, mechanical and chemical engineering, biomedical engineering and the basic science of medicine, as well as human physiology, physiology of the nervous system, physiology of the neurological system and the physiology in which the brain is activated.
Neurophysiology: the concept of biological systems that are used in biological, clinical, cognitive and other purposes, and the understanding systems and methods that comprise them, to allow the integration of knowledge and applications based on these systems. Biological systems can be developed in the sense that scientists can use the knowledge and applied technique from which they derive knowledge to develop new concepts and apply their knowledge in different contexts. In biological systems, different processes of adaptation evolve to suit different environments, environments and needs and to develop their effects and functions. (Grossman & Ziv and Schwartz, 2005)
Mental system: the way the mind and brain are organized within the framework of a given community of individuals. The mind organizes, integrates and integrates with all relevant brain and sensory system elements, including the frontal and parietal cortex, and is located within the body of the body of the individual. This includes the amygdala, hippocampus, hypothalamus, mesolimbic part of the hypothalamus, and prefrontal cortex.
Mediation: a process of interacting with, altering
Developments in the medical device industry are remarkably different from advancements which take place in the pharmaceutical industry. There are differentiations in who manages and conducts the research and development (R&D), the essential nature of the research and development, and the consequences of federal and municipal policies that directly impact it. The medical technology market requires higher start up costs and is difficult to enter–but in comparing the medical device industry to the pharmaceutical industry, we can easily distinguish the advancement of smaller companies. The medical device industry (an oligopoly), consists of fewer suppliers of a products or devices, where the suppliers activities can have a substantial impact on costs and, inevitably, on its competitors. Because there are a limited number of suppliers and dealers, the medical device industry is more apt to be aware of the activities and innovations of its competitors–and is better able to strategically plan the responses of other medical device industry participants. Also, healthcare device manufacturers have more flexible and adaptable innovation methods and more lenient regulations and enforcement than those imposed on the pharmaceutical industry. (Gelijns, 1991)
This analytical paper concerns itself with Allied Healthcare Products, Inc. (AHPI) which is a component of the medical device industry and subdivision of Health Economics. The company dates back to a small St. Louis company named Stilecraft which was established by the Sciuto brothers during the Great Depression. Stilecraft, a producer of wooden window coverings, diversified over the following years–eventually specializing in the manufacturing of medical equipment. Allied Healthcare Products, Inc. (a unit of Harbour Group Investments, LP), maintains its headquarters at 1720 Sublette Avenue, St. Louis, Missouri 63110, and maintains industrial installations in both Missouri and Stuyvesant Falls, New York. (Allied Healthcare Products I. , Company Histories & Profiles, 2011)
Citizens of St. Louis for Health Care
In 2011, this group of activists, led by American Physicians for Reiki (APRCH), and a national group of health practitioners from the community of St. Louis, launched the health care campaign, known as Citizens of St. Louis, which began its mission of promoting the health and wellbeing of all citizens at the grassroots level in Missouri. Citizens for Reiki has also organized community-based events and other events to raise awareness about health care, make awareness available to residents, and to raise awareness about what health care should be. APRCH and other community-based organizations in Missouri are also involved in the effort. As of September, 2012, there is still not a single local organization who has not endorsed or promoted the health care campaign, which has had an impact on the entire medical and medical society in Missouri. In addition, the following organizations are active in Missouri, which have not been included in this list: American Red Cross Foundation (18); The Missouri Red Cross Association, Inc., and The American Red Cross of Missouri Association, Inc. (17); American Red Cross Missouri Association, Inc., and The Missouri Red Cross of Missouri. (Allied Healthcare Products I, Company Histories &/*#038; Profiles, 2011)
American Red Cross Kansas
In November of 2007, APRCH created American Red Cross Kansas by the following criteria: • Developed in partnership and coordination with the Missouri American Red Cross to expand coverage nationwide in Kansas. • Participated in local events or seminars for more than 70,000 people, including many on campus and at the local level. • Helped spread the word of the campaign by connecting citizens of Kansas to medical care providers, education and information. • Helped fund an online health care awareness web page and a national network of community centers in Kansas, including a National Patient Freedom Summit, Caring and Life with APRCH. • Kicked off the campaign with the introduction of a national health awareness campaign called Citizens of St. Louis by the following criteria: • Connected thousands of citizens to community health organizations, such as APRCH, American Red Cross, and the US National Collaborative of Care Professionals, the American Red Cross Association, and other nonprofit groups of St. Louis; • Engaged in an online community outreach campaign to build support for our efforts on social media and local media. • Participated in a special meeting at APRCH headquarters on May 17, 2010 which culminated in the release of the Citizen’s Health Initiative. The event at APRCH was held at a downtown meeting place on St. Louis street beginning at 12:30. The Citizen’s Health Initiative, a major health initiative of the Missouri Department of Public Health, was introduced as a way to strengthen public and medical involvement in the health care system. • The organization’s mission was first to provide access to information and information about issues that can affect patients, families, and families with chronic conditions under public health care supervision. The initiative started out with a small community
Presently, Allied Healthcare Products, Inc. (AHPI) manufactures a variety of respiratory products utilized in the health care industry in a wide variety of hospital and alternate health care settings, consisting of home health care, emergency medical care and ambulatory surgery centers, and sub-acute care facilities. The entire range of products marketed by the company includes respiratory care products, medical gas and equipment, and emergency medical products.
Allied Healthcare Products, Inc. owns and maintains the US trademarks; Chemetron, Gomco, Oxequip, Lif-O-Gen, Life Support Products, Timeter, Vacutron, and Schuco. Registrations for these brand names are also owned and maintained by the company in foreign countries where AHPI markets its products and such registration processes are mandatory. (Allied Healthcare Products I. , 2011)
Allied Healthcare Products, Inc. has completed 8 acquisitions while taking stakes in 0 companies. Allied Healthcare Products, Inc. has 0 divestitures during this period and has not carried out any acquisitions since 1995.
AcquisitionsStakesDivestituresTotalThe acquisitions Allied Healthcare Products, Inc. has completed are as follows:Company AcquiredAcquisition DateOmni-Tech Medical, Inc.Dec. 01, 1995Design