In this assignment, consider the following questions related to long-term care facilities:  ? What are the factors that make long-term care unique compared to a hospital?  ? What is the effect of Certificate of Need (CON) on the economics of long-term care economic decision making and how is this different from that of a hospital? ? What does the forecast of supply and demand for the long-term care industry look like for the next 25 years and how should that impact decision making?  ? Should the U

Factors That makes long-term healthcare  different from hospital

        Long-term care refers to any form of individual assistance that a person receives based on the long term; this might be mainly due to some chronic disorders that hinder their normal functioning. The most common example of long-term care is personal care which refers to daily activities such as bathing and dressing. Unlike hospitals, long-term care is unique in that it might be offered in several settings, such as the personal home or at hospitals, with the help of health care officials(Chun& Nam 2019). The 0ther settings are where some people might also spend some time in rehabilitation centers before returning to their honesties in need of this care are mainly require coordination of health care services to curb different arising needs.

Effect of certificate of Need

       Certificate of need programmers are preserved or maintenance of health care costs and enable coordination planning of new programs and construct of facilities. It’s believed that more capacity facilitated by the construction of several health care facilities results in inflammation of health care price. This inflation results from difficulties faced by health care while filling their beds, leading to higher charges to the already occupied beds. The challenge on the certificate of need programs on health care has created controls on the supply to these health care facilities. The cost of long-term health care has been increasing due to the high demand for these facilities.

Forecast of demand and supply For The Long-term care industry

            The long-term care departments predict the demand mainly by the following methods. Past results and experiences are used to indicate the trends in techniques (Einav and Finkelstein 2018). Past occurrences from marketing areas are used to predict demand, sales made can also be used to estimate need, and econometric are used in demand prediction. The following procedures can predict supply: Previous information from the suppliers, how available the operations factors are, the quality and the number of commodities, and the market characteristics. The organization predicts long-term desire and the supply to predict its market position and to predict future profits. These procedures benefit the organization by promoting correct decision-making strategies. If an organization indicates that its demand will reduce, then it constructs proper production factors. It might spend most of the times training employees for the betterment of their organization. The firm will make an appropriate arrangement of capital or borrow at lower rates to increase its supply.

US Government Cover on Elderly Cost

            The United States should cater to the costs of elderly in both the middle and the upper classes of living to enhance integrity. Scholars show that the wealthy in the united states, despite having good health than the needy, are the biggest buyers of health care facilities. Researches also point that the needy people are generally healthier and have a shorter lifespan than the Rich people; in previous years, they are the group of people with the lowest expenditure per capitate. Rich people spend primarily on health care, and they require government support to save their income. Many insurance plans charge this group of people higher rates, leading to healthcare being expensive. In conclusion, both long-term health care and the hospital are not much far different because they all deal with administering treatment to patients who are suffering from various disorders through long-term health care involves treatment of patients suffering from complex disorders.