Economists are often the ones who dictate the prices of commodities based on complex equations and realities like current prices of goods, and the remaining stock of raw materials. The same can be said about the healthcare industry. While people are claiming that the United States has one of the most expensive healthcare systems in the world, health economists can justify the prices. According to Steven Rindner, health economists help determine prices across the healthcare sector. Here are some examples of the goods they impact.
Medical services
Hospitals, clinics, and other healthcare facilities all offer services. Medical treatments, consultations, hospital stays, emergency room admittance, and therapy sessions are just a few of the many services hospitals have to offer. Of course, physicians have to be paid, as well as the support staff. Likewise, utilities have to be managed. Health economists help hospital management come up with reasonable rates to charge patients to keep the hospital afloat.
Pharmaceuticals
While the pharmaceutical industry is one of the biggest moneymaking businesses in the US today, health economists are actively trying to curb practices that allow business owners to exploit the prices of key products like EpiPen. For example, in the US, generic EpiPen can cost up to $300 while in the UK, a single dose goes for about $40. Besides prices, Steven Rindner states that health economists also conduct behavioral studies on smoking and vaping, fasting and diets, and other health-related activities.
Steven Rindner is a business executive with a strong background in business development and growth strategy in media, technology, real estate services, and healthcare. For similar reads, visit this blog.
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Image source: verywellhealth.com
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Image source: clevelandclinic.org
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Hospitals, clinics, and other healthcare facilities all offer services. Medical treatments, consultations, hospital stays, emergency room admittance, and therapy sessions are just a few of the many services hospitals have to offer. Of course, physicians have to be paid, as well as the support staff. Likewise, utilities have to be managed. Health economists help hospital management come up with reasonable rates to charge patients to keep the hospital afloat.
Pharmaceuticals
While the pharmaceutical industry is one of the biggest moneymaking businesses in the US today, health economists are actively trying to curb practices that allow business owners to exploit the prices of key products like EpiPen. For example, in the US, generic EpiPen can cost up to $300 while in the UK, a single dose goes for about $40. Besides prices, Steven Rindner states that health economists also conduct behavioral studies on smoking and vaping, fasting and diets, and other health-related activities.
Steven Rindner is a business executive with a strong background in business development and growth strategy in media, technology, real estate services, and healthcare. For similar reads, visit this blog.
