Feldstein (2012) indicates that the hospital is the most important institutional setting for the delivery of medical services because it represents “the largest single health care expenditure category,” and it has been “the beneficiary of much federal and state legislation” (p. 292).
For this assignment, prepare an economic analysis brief that describes the role and impact of hospitals in the healthcare industry in the United States or abroad to demonstrate an understanding of Module 5. Discuss and synthesize key elements from at least two recent scholarly articles (found in the CSU-Global Library) that address one of the following points:
Determine the performance of the hospital industry.
Apply economic models, theories, or assumptions.
Offer objective methods for attempting to predict future market behavior in response to events, trends, and cycles.
Assess economic policy recommendations for healthcare stakeholders.
THE ROLE AND IMPACT OF HOSPITALS
The Role and Impact of Hospitals
The health industry is considered as one of the key industries in the world that ensure the well-being of individuals within the society. Health organizations, in this case, encounter changing circumstances that are increasing the need for more services. The United States health industry is known for its capacity to consider more of the nation`s expenditures as compared to other healthcare industries within other developed nations. An instance of this is evident in the US health industry`s consumption of close to 18.0% of the country`s gross domestic product.This has seen several stakeholders within the industry such as healthcare professionals, citizens, and the federal government establishes effective approaches of breeding methods aimed at enriching the performance and productivity of these institutions in regards to the services provided by health care organizations (Bardach et al 2012). This paper seeks to conduct an analysis on the role and impact of the hospital industry in the United States. The a