The Situation You are working for a prominent consulting firm. The firm has rece

Question

The Situation You are working for a prominent consulting firm. The firm has received a contract to provide an economic evaluation of a health care topic/issue designated by a contractor. Your role is to provide the economic analysis of the health care issue/topic. Select one of the following topic/issues for the Project. Analyze the topic using one of the ten themes that provide the basis of economic theory. The themes are: (1) Scarcity and Choice; (2) Opportunity; (3) Marginal Analysis; (4) Self-interest; (5) Markets and Pricing; (6) Supply and Demand; (7) Competition; (8) Efficiency; (9) Market Failure and (10) Comparative Advantage or you may wish to analyze the topic/issue using one of the economic models discussed in the Text. For example: Demand, Supply, Competitive, Economizing and Utility. Topics/issues for the Applied Project Medicare OR Social Security Amendments such as Title V; Title XXI Project Requirements Preparation: Describe the selected topic/issue. The approach to the topic/issue may be using one of the economic models from the Text: Demand, Supply, Competitive, Utility and Economizing, from an eclectic economic evaluative process or from the perspective of one of the economic themes presented previously in this Performance Guide. *** I am looking for a good place to start. I am not sure how to approach this assignment so anything would help. Thank you. ***

Explanation / Answer

I would suggest you start with the basic demand supply equation in light of health care industry and understand the bottleneck in the industry in that particular geography. Then analyze the margins and opportunity with respect to competition as a starter.

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