The Role of Supply and Demand in the Healthcare Economy

 
During the COVID-19 pandemic, people saw major disruptions to supply lines throughout the country. Nowhere was this more evident than in the healthcare industry. Among the biggest impact was the disruption in supply lines related to personal protective equipment (PPE) and patient care needs (e.g., beds, ventilators, and medications). Use your text as a resource to complete the following assignment as well as one other resource from the library. Please cite your sources.

Describe the concept of supply and demand and how it relates to the provision of healthcare.
Once the concept of supply and demand has been explained as it relates to healthcare explain how the pandemic contributed to major shortages of needed supplies and equipment.
Imagine yourself as a leader of a provider group of some type (e.g., surgery center, orthopedic group, general practitioner’s office). Indicate some of the supply shortages that your group may see in a similar scenario in the future. How can these be offset or averted?
Determine a strategy that healthcare leaders can implement to avoid supply chain disruption in the future.

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