Cunygrad

Hunter-Bellevue
School of Nursing
CUNY Graduate Center

The Economics of Health Care

Raymond R. Arons, Dr. P.H, M.P.H
March 24, 2009

The Economics of Health Care Hunter-Belleview School of Nursing 2

Hunter-Bellevue School of Nursing
The CUNY Graduate Center

The Economics of Health Care

Raymond R. Arons, Dr. P.H, M.P.H., M.E.
April 24, 2009

Topics to be Covered
Historical Economics of Health Care
Current Economics Of Health Care
– Definition of GDP
– GDP Trends
– GDP Components
Health Care GDP Trends
– Expenditures
– Employment
– Professional Distribution
– Patient Demographic
– International Comparisons
– Distribution of Nations Health Care Dollars
– Governmental Comparisons

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Copyright © 2009 Raymond R. Arons, Teaneck, NJ, USA


Historical Economic of Health Care

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http://ublib.buffalo.edu/archives/img/almshouse_townsend.jpg

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www.poorhousestory.com/NEW%20YORK.htm

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Bellevue Hospital Ambulance, New York Times, 1895.JPG

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Current Economic of Health Care

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Definitions of the Gross Domestic Product (GDP)

The nations income and product
accounts (NIPA’s) are the
comprehensive set of accounts that
measure the total value of final goods
and services (gross domestic product, or
GDP) produced by the U.S. economy.

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J. Steven Landefeld , Director, Bureau of Economic Analysis, GDP: One of the Great Inventions of the
20th Century, Survey of Current Business ,January, 2000
http://www.bea.gov/scb/pdf/beawide/2000/0100od.pdf

Bank of America-NY

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General Motors

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2008 GDP

$ 14,200,000,000

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Source: Bureau of Economics
http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

U.S. Gross Domestic Product (GDP)

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14.2
14
12
10 9.2
1900
$ Trillions 8 1929
6 1999
2008
4
2 0.73
0.29
0
Year

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Source: Bureau of Economics



http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

1997 Major Components of the U.S.A GDP
Manufacturing
Retail Trade
Health Care and Social Assistance
Art, entertainment, recreation, accommodation and
food services
Financing, insurance, real estate, rental and leasing
Government
– Federal
– State and Local

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Source Bureau of Economic Analysis is an agency of the U.S. Department of Commerce.
http://www.bea.gov/industry/gdpbyind_data.htm

. Steven Landefeld , Director, Bureau of Economic Analysis, GDP: One of the Great Inventions of
the 20th Century, Survey of Current Business ,January, 2000



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Forbes Top 2007 U.S. Corporations
NAME 5-YEAR TOTAL RETURN % SALES ($BIL) NET INCOME ($MIL) INDUSTRY

Bank of America 9.2 122.6 19,970 Banking

Chevron 24.8 207.2 17,585 Oil & Gas Operations

JPMorgan Chase 15.9 114.2 16,920 Banking

Microsoft 6.3 54.1 14,876 Software & Services

Toyota Motor 17.0 205.5 13,927 Consumer Durables

Berkshire Hathaway 14.1 116.4 13,852 Diversified Financials

AT&T 10.7 104.5 10,753 Telecommunications
Services

Procter & Gamble 13.9 77.9 10,721 Household & Personal
Products

Johnson & Johnson 5.6 58.8 10,370 Drugs & Biotechnology

Wells Fargo 9.0 52.2 8,987 Banking

GlaxoSmithkline 9.7 43.2 8,296 Drugs & Biotechnology

Cisco Systems 13.6 36.3 7,930 Technology Hardware &
Equip

Hewlett-Packard 22.5 104.3 7,264 Technology Hardware &
Equip

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http://www.forbes.com

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U.S. Treasury

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http://www.federalbudget.com/



References
Rosenberg CE The Care Of Strangers: The Rise of America’s Hospital System, The Johns
Hopkins University Press, Baltimore, 1987.
U.S. Department of Health and Human Services, CMS Financial Report, Fiscal Year 2007
Washington, D.C, November 2007.
Centers for Medicare and Medicaid Services, An Overview of the U.S. Health Care System
Chart Book, January 31, 2007.
2008 Annual Report of the Board Of Trustees of the Federal Hospital Insurance and Federal
Supplemental Medical Insurance Trust Funds, Washington, D.C, March 25, 2008.
The Congress of the United States, Congressional Budget Office, Key Issues in Examining
Major Health Insurance Proposals, Washington, D.C, December, 2008.
Commission on Hospital Care, Hospital Care in the United States, The Commonwealth Fund,
New York, New York, 1947.
Feldstein PJ, Health Policy Issues, An Economic Perspective, 4th Edition, Health
Administrative Press, Chicago, 2007.
National Bureau of Economic Research, Recent Economic Changes, Volume I and II, Report
of the Committee on Economic Changes of the Presidents Conference on Unemployment,
Herbert Hoover, Chairman. McGraw-Hill , New York, 1929.

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