Economics of Health and Medical Care is an introduction to population-based health economics as well as the traditional, market-oriented approach to health care economics. The book examines economics through the lens of descriptive, explanatory, and evaluative economics. The Seventh Edition is an extensive revision that reflects the vast changes that have been occurring in the health care industry and in the economy, most notably in the areas for payment systems and quality improvement. Additionally, the text offers expanded discussion of the impact of the Affordable Care Act on the demand for healthcare services and health insurance, particularly regarding Medicare and Medicaid programs. Evolving issues in healthcare as well as discussion of the implication for efficiency in the production and consumption of healthcare services are covered throughout the text. Key features: * Revised introduction provides an overview of why health economics, explaining the economic approach to understanding health care issues and problems. * Updated data to reflect changes in the healthcare system, along with new and expanded empirical studies illustrate the use of economics and healthcare. * Helpful links to additional online sources further support and clarify chapter concepts * Updated and expanded glossary that incorporates new and additional terminology in healthcare and now incorporates definitions of basic economic terminology.