Shortages in Healthcare: Why? How Do We Fix Them?

  Рет қаралды 2,135

AHealthcareZ - Healthcare Finance Explained

AHealthcareZ - Healthcare Finance Explained

Ай бұрын

Why Are There Shortages in Healthcare and How Do We Fix Them?
There will be a shortage of 21,000 - 55,000 primary care physicians by 2033. Additionally, there are 195,000 vacancies for nursing positions in America every year because of the nursing shortage.
Shortages in healthcare are determined by the Law of Supply and Demand. In a normal market situation, supply and demand reach an equilibrium price and an equilibrium quantity. As a result, there is NO Shortage.
However, if the price is set artificially low, then not enough will be supplied relative to demand and there will be a shortage.
In the case of labor, the 'price' of labor is the wage. The 'quantity of labor' is the number of people and the number of hours worked in that profession.
If there is a shortage, by definition there must be Rationing. Rationing comes in two forms:
1) Queue Rationing, i.e. a 'Waiting List'
2) Price Rationing, i.e. rationing based on ability to pay
Healthcare has both forms of rationing, ranging from trauma surgery weekend coverage (Queue Rationing) to Lasik eye surgery (Price Rationing).
Both forms have their Pros and Cons, which can be debated forever. The point is not which is 'better' or 'worse,' but rather that shortages in healthcare are 1) explainable, 2) have straightforward consequences and 3) can be addressed differently in different situations by different groups of people.
There is no 'One Solution' and that's ok.
Sources:
www.health.harvard.edu/blog/w...
www.nursingworld.org/practice...
lpeproject.org/blog/the-econo...
www.forbes.com/sites/johngood...
AHealthcareZ is 400+ Healthcare Finance Educational Videos.
💥 BOOK: Check out Dr. Bricker’s Book 16 Lessons in the Business of Healing here: www.ahealthcarez.com/healthca...
AHealthcareZ Viewers Include: Employee Benefits Professionals, HR, CFOs, Insurance Brokers, Benefits Consultants, Doctors and Nurses in Leadership Roles, Hospital and Health System Administrators, Health Insurance Carrier and PBM Professionals, Pharma and Med Device Professionals, Academic Professors and Students in Healthcare Administration and Public Health.
90,000+ Views Per Month Across All Platforms.
Visit AHealthcareZ.com to Subscribe to the Healthcare Finance Video Newsletter.

Пікірлер: 50
@komilakarimova8919
@komilakarimova8919 Ай бұрын
I just started watching your videos and honestly impressed! You deliver information in a simple way and with a high quality! It's very rare today to find a person with this unique ability. Appreciate your work a lot!
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for your feedback.
@TheRoland444
@TheRoland444 Ай бұрын
Outstanding informational insight on "everything medical as its relates to human involvement & effort" within the "real world" challenges & constraints, the business of healthcare.
@silviagarcia8254
@silviagarcia8254 Ай бұрын
Apply the same laws to dentistry--there is no shortage of dentistry, why? they're all cash pay and you can get a tooth issue basically whenever you want. Dental insurance is extremely limited and costly and a business for the insurance company to lure the patient by covering some basics but not the complex. If primary care stopped accepting third party payment en masse, we'd see a stabilization of pay and supply, more doctors would choose this field because it would be an attractive lifestyle. Right now it is atrocious pay, abuse from employers and patients, and very limited concierge practices. So noboy is rushing into family practice or internal med, sadly. They want dermatology and ophthalmology.
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for sharing your thoughts.
@tannermurphree8247
@tannermurphree8247 26 күн бұрын
Thank you
@claashorst
@claashorst 29 күн бұрын
Tip Top! Shared in the discussion in Germany and Switzerland via Linkedin & FB. Thank you very much.
@ahealthcarez
@ahealthcarez 29 күн бұрын
Thank you for sharing.
@mdaverde
@mdaverde Ай бұрын
Great video, surprised you didn't talk about the reduced doctor headcount due to residency funding
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for watching and for your feedback.
@carlwattjr
@carlwattjr Ай бұрын
Limited spaces in med school by ama. Limited salary of nurses by hospitals
@ahealthcarez
@ahealthcarez Ай бұрын
Hospitals have monopsony power in nursing labor market. Nurses likely to become more unionized to counter.
@carlwattjr
@carlwattjr Ай бұрын
@@ahealthcarez what about the limits on supply of doctors, a much bigger cost factor? No limits on nursing schools so it seems like mainly the increasing stress of the job is limiting supply because the job can’t compete with other options. But again, thanks for raising and explaining all these details of healthcare. Really appreciated.
@carlwattjr
@carlwattjr Ай бұрын
@@ahealthcarez you might consider an episode on how the difference in quality management between healthcare and all other industries has left healthcare weak on the ability to improve to lower cost. ISO 9000 and other qms in all other industries requires working process improvement. Healthcare seems to just be audited to regulations, leaving healthcare largely passively waiting for regulators to tell them how to change. I am an expert on lean in aerospace if you ever want free advice in that area.
@concernedcitizen780
@concernedcitizen780 Ай бұрын
Making medical school cost lower would help. I see medical students $ 500,000 in debt.
@user-hx8lt9fk9d
@user-hx8lt9fk9d Ай бұрын
Same thing is happening with public school teachers
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for sharing your thoughts.
@haddadda
@haddadda Ай бұрын
They should open more med school spots
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for sharing your thoughts.
@Koru-Health
@Koru-Health Ай бұрын
Partially correct, but the underlying culprit (for MDs) is the GME funding that pays for residency programs. This funding, primarily through the Social Security Administration (CMS) is a set pool of funds controlled by congress. With a fixed and rarely increasing funding pool for residency programs the number of residency positions available in the US each year is restricted. It would not make sense for a university to graduate more MDs than they can place in residencies.
@concernedcitizen780
@concernedcitizen780 Ай бұрын
Maybe cutting the cost of Nursing, medical school and expand those schools. I know medical students $500,000 in debt and nursing students $90,000 in debt
@brianree2220
@brianree2220 Ай бұрын
Thank you for creating these videos. You breakdown the information so its easy to understand!
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for watching and for your feedback.
@tannermurphree8247
@tannermurphree8247 26 күн бұрын
I am an RN who returned to my former career after year in the hospital. There’s a shortage because the job sucks, endless meetings and anxiety over pleasing the regulators.
@ahealthcarez
@ahealthcarez 26 күн бұрын
Thank you for sharing your experience.
@shanap7491
@shanap7491 Ай бұрын
There are a lot of Uber-like nurse staffing companies that are cropping up. I would like to hear more about this.
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for your suggestion.
@TraderZeta
@TraderZeta Ай бұрын
Great video. You have great presence. I am very fascinated on your thoughts on how the university system could have some impact on the situation.
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for watching and for your feedback.
@briansweeney5759
@briansweeney5759 Ай бұрын
Of course some practitioners can afford to buy their own equipment (eg a LASIK machine) and be somewhat ‘affordable’- however more complex areas - eg neurosurgery, transplant surgery, dialysis- require more equipment, theatres, ICU beds, nurses, therapists - which individual specialists could not provide or bill for…
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for sharing your thoughts.
@otiliapopescu9264
@otiliapopescu9264 Ай бұрын
That's a great video, thank you, I observed you only depict facts, but why not solutions on them?
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for watching and for your feedback.
@SpecialK711
@SpecialK711 Ай бұрын
From Artificial Pricing to Artificial Care => Robo-doc in-a-box here we come. Would be great to hear you speak about the various business venture opportunities being forged as a result of the shortages.
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for your comment.
@NANA-nd1kq
@NANA-nd1kq Ай бұрын
Will you discuss Singapore model of care provision? Hybrid of government-subsidized catastrophic care and self-pay using tax-advantaged HSAs.
@ahealthcarez
@ahealthcarez Ай бұрын
Great suggestion. Thank you.
@komilakarimova8919
@komilakarimova8919 Ай бұрын
So to have enough nurses and primary care physicians should their wages be increased? Why do you think it never be solved?
@ahealthcarez
@ahealthcarez Ай бұрын
Their pay is increased in a cash-pay environment where the customer pays the provider. It’s the 3rd party payment by government and insurance companies that creates the shortage because they suppress the wage below the market level.
@SpecialK711
@SpecialK711 Ай бұрын
​@ahealthcarez Yes, and they also add significantly to the administrative burden, which is causing many to drop out
@BurqueMD
@BurqueMD Ай бұрын
Have you thought about writing a book? I have found your videos so helpful!
@ahealthcarez
@ahealthcarez Ай бұрын
I have. ‘Healthcare Money Campfire Stories’ available on Amazon. 👍
@BurqueMD
@BurqueMD Ай бұрын
@@ahealthcarez great, I'm getting it. Thanks!
@iMeta4
@iMeta4 Ай бұрын
Health economics, I did not expect to see you so soon since that one class. This cannot be helped. 🤣 And I meant the topic, not shortages. Thank you US. 😒
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for watching and for your comment.
@azppmd
@azppmd Ай бұрын
Let me know your address and I'll ship you a microphone. Do you need 3.5mm input? On what device are you recording? I bounced after the first 3 seconds.
@ahealthcarez
@ahealthcarez Ай бұрын
Thank you for your feedback.
Healthcare Costs Are Too Low - $4.5 Trillion Per Year is Not Enough
8:48
AHealthcareZ - Healthcare Finance Explained
Рет қаралды 1,5 М.
Healthcare Costs in America:  Hospitals, Doctors, Medications and More
34:40
AHealthcareZ - Healthcare Finance Explained
Рет қаралды 14 М.
Китайка и Пчелка 4 серия😂😆
00:19
KITAYKA
Рет қаралды 3,7 МЛН
She ruined my dominos! 😭 Cool train tool helps me #gadget
00:40
Go Gizmo!
Рет қаралды 54 МЛН
Универ. 13 лет спустя - ВСЕ СЕРИИ ПОДРЯД
9:07:11
Комедии 2023
Рет қаралды 5 МЛН
Secret to Primary Care Profitability and Scale
11:03
AHealthcareZ - Healthcare Finance Explained
Рет қаралды 4,2 М.
Cure for Point Solution Burnout: How Employee Health Plans Should Pick the Right Vendors
15:40
AHealthcareZ - Healthcare Finance Explained
Рет қаралды 2,1 М.
Michael Porter on "Value Based Health Care Delivery"
1:08:47
Harvard Business School
Рет қаралды 147 М.
Why Does America Have So Few Doctors?
10:00
Med School Insiders
Рет қаралды 111 М.
Get Serious About Healthcare Costs
9:57
AHealthcareZ - Healthcare Finance Explained
Рет қаралды 3,6 М.
Medicare, Medicare Advantage, Part D, Medicare Supplement, Medicaid, Affordable Care Act Explained
25:57
AHealthcareZ - Healthcare Finance Explained
Рет қаралды 12 М.
Sauna Benefits Deep Dive and Optimal Use with Dr. Rhonda Patrick & MedCram
1:21:29
MedCram - Medical Lectures Explained CLEARLY
Рет қаралды 1,9 МЛН
Healthcare Finance 101 with Steve Febus
1:23:48
Pullman Regional Hospital
Рет қаралды 76 М.
8 Unexpected Ways We Self-Harm & How to Stop
23:06
Kati Morton
Рет қаралды 321 М.
Healthcare Innovation Catch 22: Best Customers are Hardest to Win
13:16
AHealthcareZ - Healthcare Finance Explained
Рет қаралды 920
凡事不要慌,看我如何靠智慧取胜!
1:00
侠客红尘
Рет қаралды 34 МЛН
Who will eat Nutella? 🥳 Challenge #shorts
0:18
Balashik show
Рет қаралды 18 МЛН
КАК ОН РАССТРОИЛСЯ СНАЧАЛА 😂😂😂 #пранк #юмор
0:36
СЕМЬЯ СТАРОВОЙТОВЫХ 💖 Starovoitov.family
Рет қаралды 988 М.
Popular Kids at Lunch Be Like 😒
0:46
Alan Chikin Chow
Рет қаралды 7 МЛН