Discuss the role of each sector in the health care industry and the economy.

Consider the following major sectors within health care:

• Health care equipment
• Health care services
• Pharmaceuticals, biotechnology, and related life sciences

Based on insights that you have gained throughout the course and this week’s lesson, write a paper of 6–7 pages that discusses the following:

• Summary: Discuss the role of each sector in the health care industry and the economy.
• Analysis: Discuss the impact of each sector on the health care industry and the economy.
• Evaluation: Discuss the impact of the economic practices of these sectors on the industry globally.

Ensure that you integrate economic terms, frameworks, and models throughout the review.

Finally, recommend policy updates, changes, and revisions to each sector that will address the opportunities and challenges within the industry.

Gibson, J. L. (2013). Pharmaceuticals and medications industry. Salem Press Encyclopedia. Retrieved July 30, 2015 from Research Starters database in the CEC Library.

The Economist. (2015, January 3). Going large. The Economist. Retrieved July 30, 2015, from Gale Biography in Context database in the CEC Library.References

PR Newswire. (2015, January 22). Global long-term care software (nursing homes, home health agencies, assisted living facilities) market – forecast to 2019. Retrieved July 30, 2015, from the Biography in Context database in the CEC Library.

PR Newswire. (2014, March 23). Profiles of 11 top-tier home health care companies in new in-depth market research report. Retrieved July 30, 2015, from the Biography in Context database in the CEC Library.Reference

The state of the pharmaceutical industry [image]. (2012). Retrieved from the Visual.ly Web site: http://visual.ly/state-pharmaceutical-industry

References

MarketLine. (2014). Global health care equipment & supplies, 1–30. Retrieved July 30, 2015, from the Business Source Complete database in the CEC Library.

MarketLine. (2014). Health care equipment & supplies in the United States, 1–34. Retrieved July 30, 2015, from the Business Source Complete database in the CEC Library.References

Devereaux, P., Heels-Ansdell, D., Lacchetti, C., Haines, T., Burns, K. E. A., Cook, D. J., et al. (2004). Payments for care at private for-profit and private not-for-profit hospitals: A systemic review and meta-analysis. Canadian Medical Association Journal, 170(12),1817–1824.

For-profit hospitals are costlier than non-profits. (2004, June 7). Retrieved from the Physicians for a National Health Program (PNHP) Web site: http://www.pnhp.org/news/2004/june/forprofit_hospitals.php

For-profit hospitals deliver inferior care at inflated prices and cost Medicare an extra $5.2 billion annually. (1999, August). Retrieved from the Connecticut Coalition for Universal Health Care Web site: http://cthealth.server101.com/pnhp_nejm_for_profit_hospitals.htm

Shahpoori, K. P., & Smith, J. (2005, June 29). Wages in profit and nonprofit hospitals and universities. Compensation and Working Conditions Online. Retrieved from http://www.bls.gov/opub/cwc/cm20050624ar01p1.htm

References

Caraceni, A. (2014, January 2). EAPC early vision to future challenges in palliative care: The importance of research. Retrieved from the EAPC Blog Web site: http://eapcnet.wordpress.com/2014/01/02/eapc-early-vision-to-future-challenges-in-palliative-care-the-importance-of-research/

Boughton, B. (2009, April 15). New growth and new challenges in palliative care: An expert interview with Porter Storey, MD. Medscape Medical News. Retrieved from http://www.medscape.com/viewarticle/591101

Murray, S. A., Mason, B ., & Donaldson, A. (2010). What are the key challenges facing palliative care internationally in the next 10 years? International Journal of Palliative Nursing, 16(7), 316–319.