Explain how an increase in Medicaid expenditure represents the economic problem and what economic principle it illustrates.
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Healthcare Industryâ??An Economic System Click http://vizedhtmlcontent.next.ecollege.com/pub/content/305ebf34-ed77-4950-8012-2fdd0fe670fb/SU_HCM3002_W2_A2.pdfhere to view the data on historical national health expenditures (NHE) for selected years from 1970 through 2009 (Centers for Medicare & Medicaid Services [CMS], n.d.). Based on the data for these years, answer the following questions: Table 1: Sources of National Health Expenditures presents a breakdown of the sources of national health expenditures for selected years from 1970 through 2009. Comment on the changes in the categories of expenditure sources (i.e., out-of-pocket, third-party payers, and types of third-party payers), both year-to-year changes and changes over the entire period. Table 2: Public Program Payments presents a breakdown of public program payments for selected years from 1970 through 2009. Describe the situation that the state and local budget officials are facing, in economic terms, as they construct expenditure plans for Medicaid and other programs. Remember that Medicaid expenditures (which approximately account for over 20% of state budgets) are increasing each year at a rate that exceeds the rise in other spending categories (such as elementary and secondary education, which approximately accounts for 22% of state budgets) and revenue projections are approximately 4â??5% over previous years. Explain how an increase in Medicaid expenditure represents the economic problem and what economic principle it illustrates. Compile your work and create a 2- to 3-page Microsoft Word document that includes answers to the above questions. Note: When analyzing such types of statistics, you will find it useful to present the data visually, such as by constructing a line graph or a bar diagram. A bar diagram will clearly show changes in values. You can also use a Microsoft Excel spreadsheet to construct a graph. Support your responses with examples. Cite any sources in APA…
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