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Explain Why Health-Care Cost Management Has Become Important

question 147

Essay

Explain why health-care cost management has become important.Discuss several strategies available for controlling costs.


Definitions:

Opportunities

Situations that present possibilities for achieving positive outcomes or advantages.

Constraints

Limitations or restrictions that affect decision-making or the ability to pursue certain actions.

Economic Beings

Individuals or entities that make decisions based on the maximization of utility or profit, considering factors like scarcity, resources, and preferences.

Market Failure

A situation where the allocation of goods and services by a free market is not efficient, often justifying government intervention.

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