DHA 721 Health Economic Terms Assignment – Online Nursing Essays

DHA 721 Health Economic Terms Assignment
DHA 721 Health Economic Terms Assignment
DHA 721 WEEK 2 Health Economic TermsEconomics defines terms and concepts in a very specific way. In some cases that may be different from the way the terms are used in everyday writing and speaking.
Select four terms from the list below.
SupplyDemandOpportunity CostEconomy of ScaleDivision of LaborProductivityProduction FunctionHorizontal and Vertical EquityWrite a 350- to 700-word paper in which you discuss each term’s traditional economic definition. Also, compare and contrast the use of each term from the traditional economic sense to a health care setting.
Format your assignment according to APA guidelines.
Submit to the Assignment Files tab.
DHA 721 WEEK 2 Health Economic Terms

DHA Health Economic Terms Assignment
This glossary aims to familiarise you with some of the terminology used in Health Technology Assessments (HTAs). HTAs evaluate new drugs and devices in relation to cost, efficacy, utilisation, etc., and their future impact on social, ethical, and legal systems. This is a growing field and is central to government policymaking for new technologies.
The glossary is adapted from glossaries provided online by the All Wales Medicines Strategy Group and the US National Library of Medicine.
ADHA 721 Health Economic Terms AssignmentAcquisition costThe purchase cost of a drug to an agency, person, or institution.
Allocative efficiencyOccurs when, given the existing income distribution, resources cannot be reallocated so that they make one person better off (in terms of gaining greater satisfaction from the goods and services they consume) without making at least one other person worse off. This is also known as Pareto efficient.
Average costTotal cost divided by the number of units of output.
BBenefitAnything that results that is of value.
CDHA 721 Health Economic Terms AssignmentCapital costThe cost to purchase the major capital assets required by the programme (for example, equipment, buildings, and land).
CapitationA fixed amount of payment per patient, per year, regardless of the volume or cost of services each patient requires.
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