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Theoretical Analysis Of The Macro Environment Within The Health Care Industry.

1476 words - 6 pages

There are numerous forces within the macro environment that can bear impact on any given industry. These components can influence when, how, and what strategic decisions are made, and thus, revolutionize the industry as a whole, as we know it. This paper will take a closer look into how these factors are currently influencing the increasing cost of thehealth care industry.Economic forces, in theory and as fact as seen within the last 15 years, do indirectly affect the health care industry. Economic decline, high interest rates, changes in currency exchange rates, inflation, and deflation have been a major unseen cause that propels forward the #1 cause of death of Americans: Heart disease. In response, health care has been required to make startling and abrupt changes keep up with the treating, preventing, and educating of working class Americans, a large percentage of whom do not have the luxury of health insurance.As our economy has intermittently teetered on the verge of recession over the years, the overall health of the American public has severely diminished. During such times, people must work harder and longer hours to maintain job status to accomplish their companies' goals due to economic stagnancy and increased competition for their product or service. This, in effect, results in higher levels of stress, poorer nutrition, and decreased time and energy for exercise and health maintenance.Increased interest rates may also have a part in the overall decrease in health that plagues so many working class Americans. In times like these, it becomes harder for consumers to pay their bills, particularly on major items that are financed, such as a home or car. Companies can also be negatively affected by the decreased demand for their product, and the increased competition among other firms and decreased economic growth that accompanies it. As mentioned before, all people must work harder and longer; whether it is to pay their bills or to keep their jobs and insure their company's status. They can't even think about taking the time off work for a visit with their physician. Many do not even have health insurance, and the last thing they need is one more bill. Again, this causes immense mental and emotional stress, which takes it toll on a person's heart in the long run.Changes in currency x-change rates can also have an effect. When other currencies fall against our dollar or the value of the dollar rises against another country's, the import of products from that country will increase. That country gains a huge competitive advantage. As seen in the steel industry, buying steel from the Japanese was cheaper than producing our own. Lay offs were inevitable. Govt. subsidies saved U.S. steel companies, but what about other major industries? When currency exchange rates are not favorable for U.S. car manufacturers, for example, they quickly realize in the name of fierce competition that they can move production to where they can increase output...

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