Question

Please write 4 paragraphs with each paragraph containing 50-60 words.

1. Is there a relationship between cost and price for any given product or service in healthcare? Should there be?

Answer 1

The direct relationship between cost and price for any product and service for the Health care sectors as in these modern times. This is due to the cost or the price that the patient has to pay for the healthcare is same that the institutions of health care have spent on their treatments.

The patients may have to pay out of pocket expenses for the healthcare service which may vary from person to person based on the disease or treatment that was been taken. This has been reduced for the Citizens of the US with the insurance for all citizens which was previously very different.

The cost of treatment is the price that is charged by any medical institution where the aspect of patent expenses are been kept low. The cost of treatment is the amount that the healthcare institute has spent on a patient while the price is what they get in return for the same. Healthcare is a social issue that is overlooked by the government to make sure the citizens get equal care irrespective of their economic condition.

Hence, there should be no difference in cost and price for the sector which is a sign of a healthy society where the people are the national asset. The healthcare is a not for profit institution where the cost and prices are both bourns by the government agencies like insurance to make sure the healthcare don’t differentiate between cost and price.