The Most Important Question to be Answered in the Current U.S Healthcare Market?
The most crucial question in the U.S is, how can the high healthcare costs in America be lowered? The first way to reduce the continually increasing costs is citizens demanding transparency in healthcare costs and seeking value-based healthcare (Lawrence, 2019). Unfortunately, most Americans are not informed nor involved in the issues of health. Americans can begin being involved once they learn how to hold the leadership accountable.
The Texas Public Health Department (TPHD)
The THPD has numerous policies, especially in the consumer protection division, to ensure that consumers get safe products. Ideally, this division is concerned with overseeing the service providers, and consumer health goods producers warrant public safety (THHS, n.d). The division uses oversight and compliance activities, licensing, standards, and rules, technical communication and advice, and several characteristics of disaster response and preparedness. Consumers are, thus, convinced that the products they consume are safe through the efforts by TPHD. Don't use plagiarised sources.Get your custom essay just from $11/page
Approaches for Determining the Value of Life
The human capital approach indicates that time is the best representation of the various aspects of human life. Therefore, people with vital and distinct skills should get higher compensation for their time as compared to those without the characteristics as mentioned earlier (Kuchyna, 2015). On the other hand, the willing-to-pay approach works on the assumption that there is no market capable of providing prices for whole lives. The willing-to-pay approach is generally higher than the human capital because it does not consider the distinct and vital skills that an individual has. Instead, this approach is based on the amount that people are willing to pay to minimize the risk of death.
References
Kuchyna, P. (2015). Problems Associated with Value of Life. ScienceDirect. Retrieved from pdf.sciencedirectassets.com/282136/1-s2.0-S2212567115X00086/1-s2.0-S2212567115007480/main.pdf?X-Amz-Security-Token=IQoJb3JpZ2luX2VjEGsaCXVzLWVhc3QtMSJGMEQCIGgAxeetjiY8YiGrmGqZwb5ocJb%2BTDefkODkSkLikQtHAiB4OU5tf%2FQxpGJynD3nkO3gFvyAQg8cDe6OzMiDaCUOByq0AwgTEAIaDDA1OTAwMzU0Njg2NSIMn00VxVOq5bX%2BQIwKKpEDkOM64hTY%2BtEeMP8leqvQcUg54R%2BI3Kphj0438mvcg0XJ4FwFkQpoN3bgddN5weHD2sz8GoUk5gUcI2ctlJS6V9F%2FP8cL5aMgQrNBk%2B%2BZmj5yM4qp18YFdaf8ZKAYrRzw044D9UhxekIEBrwqj0vO7GfJG63%2FoXSH74ts2O5h2pqJ0EQv85UkM8PnWuhOmSyWiPk5rr1eOSXisxn8Y4zxCkZODoAWNLgVIk1VX4WbgHTgPFFyXJR3%2FQfuoFw7XeT4fCckItnPJQ8HG5JUcSX7iXvay3CpYl1n7sioe8qF0b4Nj2PhVgiLBNo8Lyrf5mMDQ5NH4OYvyHRA9rAkS08QYyeFx9m3jvNQdGgQHaTNAQ44wKYOlIJ8Xn0LGl5KwxYyFJNDR0sT2xAslIKBHZ9jStFh64juhjvrmR1VT9KsOr2maUKgz5CoMfpbZy3p5APyZ5oyfpgShimr8Bd09vqM04zTUlQYqH7mzzc1EQatfKL4fQi1D8omY4j%2BhN9NKqWzu46qCtOjtsT4WzFbUtDckV8wwvrP8QU67AE1eK8IsAy3gccx6wC3u6lNWnFYj9hJF3Hn3Fnhp6LEOs83TF%2FfbgnC1zcp8Lnemg%2BYkgCXQu9bC2Mm1S9Tvi2fYo6G34AhpLzNKvYng2pl%2BcK19%2BMZQy1T%2B3%2BB8vPcVWdnhjAW72Ho%2BXjZZkyXE6RHx9XE3lWLI%2BMV67NNqRES61KAZ8g%2FV%2BFewxekfmDsnIOzkOryKz7HciK%2BkC5tV6tY0SMBEZ%2BZPXDni9c4UIaFNGEN0TF73oOP6QyqP8590M7%2FkXVrjRomjqld8mb9QeV%2Bc2GotEnXLDYp6XXAJ9QROJSTqv5bvL7HL4U%2BTw%3D%3D&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Date=20200131T105731Z&X-Amz-SignedHeaders=host&X-Amz-Expires=300&X-Amz-Credential=ASIAQ3PHCVTYYGYISZDQ%2F20200131%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Signature=65f2fdb6ba9309724413740f28974cbf972ce8cd985865d18d499d6bdd8b832e&hash=90d6d9e9744fb214b109e9996dc192a4300a93ab268b3c1cda0786807058c913&host=68042c943591013ac2b2430a89b270f6af2c76d8dfd086a07176afe7c76c2c61&pii=S2212567115007480&tid=spdf-a98c4009-9e7f-4b80-b73b-f6a17dc74d40&sid=d2e4f9002c4398432a793e09f6cfdb800609gxrqb&type=client
Lawrence, H. (2019). 2 Ways To Lower America’s High Health Care Costs. Forbes. Retrieved from hwww.forbes.com/sites/nextavenue/2019/04/05/2-ways-to-lower-americas-high-health-care-costs/#61479b4a13cc
Texas Health and Human Services (THHS). n.d. Consumer Protection Division. Retrieved from www.dshs.texas.gov/consumerprotection.aspx