Economics and Human Resources (Research Paper Sample)

Economics and Human Resources
Name
Institution
Economics is a social science which dictates how people utilize the limited resources to manufacture, allocate and consume goods and services so as to fulfill their unlimited desires and needs. Microeconomics and macroeconomics are the most prominent disciplines in the fields of economics. Instinctively, it is well known that if a nation is healthy, they are capable of delivering labor to the market thereby avoiding absenteeism and in the process improving the productivity of the nation. The discussion under this context examines United Health Care in relation to economics and human resource, legality and ethnicity and social responsibility.
Current Micro and Macro Environment
Both disciplines of economics apply the same concept; however, microeconomics tackles people’s close snapshots, non-profit organizations and businesses within economies whereas macroeconomics trends the broader picture within economies. The benefit of economic health workforce on advanced productivity is encouraged by micro level evaluation in developing and developed countries. Conclusions can be drawn by preventative interventions which avoid illnesses. The evaluation of microeconomic is documented in both developing and developed countries. Through microeconomic assessment, evidence points out that economic growth rates constitutes better health with increased life expectancy. The relationship between macroeconomic assessment and better health takes place through various channels such as improved living and sanitation conditions, more nutritious food, improved access to health care and the general connection between an income and good health (Oxley & MacFarlan).
Relating to the above discussion, it can be implied that vaccination is a very essential tool in the prevention of infectious diseases in society. Health providers should therefore invest mostly in vaccination since it provides a broader range of economic benefits; some being immediate while others take time to materialize. Vaccines are significant, not only because they keep diseases at bay, but also reduce health care expenditure hence encouraging health care savings. Most microeconomic evaluations are derived from the health cost savings. Vaccine prevention should be embraced since most things are achieved through improved health outcomes; which then promulgates to changes in human capital accumulation, thereby multiplying the benefits realized in the higher macro level. Pre-pandemic flu vaccination programs are the best vaccines which impacts both macroeconomic and micro and short term parameters. Attempts have been made to create a long-term effect of pandemic on a nation’s economic growth through decreased wages, increased poverty and decreased high school graduates.
More evidence of the wider benefits of vaccines connected to improved health conditions is that the vaccine is likely to impact the attainment of education rejuvenating to greater lifetime earnings. It is therefore evidenced that vaccines analysis should be more than just a simple microeconomic evaluation to establish the total profit. Assessments on economics provide a number of macro and micro evaluation tools used to establish economic benefits. It is however important to note that microeconomic vaccine is the commonly used economic evaluations for its cost-effectiveness (Oxley & MacFarlan).
Impact of Economic on United Healthcare
Inflation, gross domestic product (GDP) and population has for many years has been outpaced by the growth rate in health care spending; more so in developed countries such as the U.S. According to research, the increased health care spending might have a negative impact on the U.S economy. Increased spending on health care influence the economy in complex and diverse ways and the influence can vary across population groups and economic sectors. For instance, commentators have realized that health care spending might interfere with the broad economic growth and stimulate economic prosperity and growth in some economic sectors. In the U.S economy, the GDP devoted to health care and health care spending have raised negative impact on health care cost inflation. Increased health care spending affects key economic indicators such as inflation, unemployment and per capita GDP, with the effects being experienced across economic sectors such as households, businesses and governments.
All these sectors are interrelated and are prominent in the provision, financing and consumption of health care. For instance, governments, state and federal assemble taxes from households and enterprises to finance insurance on public health programs and offer health care to households. Enterprises render employment to households and provide employees with health insurance. From the circle, households are the final beneficiaries of health care and at the same time incur health care costs. Health care costs effect on a single sector affects the general outcome in other sectors. Consider an instance in which the government is subjected to increased health care costs; such a government might be tempted to lower health spending by lowering eligibility for public health insurance and in the process decreasing the rates of insurance rate. An increased health care cost furthermore prompts the government to hike taxes, reduce investments or increase borrowing under critical sectors such as infrastructure and education. The increment in taxes stagnate economic growth and thereby affecting households and businesses.
Impact of Human Resource
Pertaining to health care, human resource refers to the varying types of non-clinical and clinical staffs answerable to both an individual and public health intervention. Human resource management is the increased centre of attention within several health care systems around the globe. Apart from capital and physical consumables, human resource is also among the prominent inputs of health system. It is argued that the most inputs of health system, the benefits delivered by healthcare system and performance greatly depends on the motivation, skills and knowledge of people who are responsible in health care delivery services. The cost of health care consumables such as prostheses and drugs are astronomically rising, and in turn increase heath care costs. Expenditures systems which are funded by the government affect the hiring and sustenance of effective practitioners. Human resource management practices should be developed so as to find the effective and efficient workforce supply in both the employer-paid and government funding systems. Workforce without efficient tools is inefficient, and is the same as having tools without a workforce.
Various general human resources questions and answers arise when analyzing global health care systems. Some of the human resource issues include the distribution and contribution of health care workforce, migration of health workers, workforce training issues, size, economic development level, and cultural, socio-demographic and geographical factors. Size variation, composition and distribution are an alarming concern within a country’s health care workforce. For instance, the figure of health workers present in a country is a clear indication of the country’s capacity to offer interventions and delivery.
It is important for the human resource personnel to consider health workforce composition with regard to training levels and skills categories. When analyzing global health care systems, migration of health care workers is a major cropping issue, since mobility of workforce creates an extra imbalance which needs improved workforce planning, pay and reward issue to improve workforce management. It is evidenced that an essential positive correlation in the number of human resource for health and a country’s economic development. Countries with increased gross domestic product spend extra amount on health care than their counterpart countries with reduced GDP, but possess larger health workforces. Also on health issues, demand for health personnel and health services leads to increased ageing population.
Strategic Use of Human Resource for a Competitive Advantage
It is of great use and importance to explore human resource impact on health sector. Despite the varying trends of health care reforms in different countries, main trends such as equality, equity and efficiency objectives are easily identified. To begin with, different human resources initiatives are deployed to increase efficiency. Fixed labor expenditures have been converted into variable costs by outsourcing of services as a method of improving efficiency. Secondly, most of health sector human resources initiatives attempts to multiply fairness and equity. A major goal of human resource profession is to use the allocated measures to raise equity standards in their nation. Last but not least, patients’ satisfaction and quality services are improved by human resource in the health sector.
Legal and Ethics; United Healthcare Code of Ethics
Relationship attention between health and socio-economic, a growing emphasis on population health and emerging infectious diseases have raised moral concerns in public health services. In relation to health care, public health ethics primarily derive its contents from three moral approaches thinking. The approaches contribute and shape public health ethics development. The first approach is the values inherent in public health practice, which is derived from the inherent ethical values in public practice of professional health. The codes of ethics such as nursing and medical professions explicate measure of am individual standard of professional behavior and statements of professional value. Currently, the code is helpful in the starting points for the basis of moral public hea...