Affordable care to patients
Question Description: Description
Identify and briefly define 1 of the following concepts:
Opportunity cost
Sunk cost
Cost–benefit analysis
Based on the concept that you have selected, respond to each of the following:
What are the basic steps for the application of your chosen concept in resource allocation?
Provide an example of how this concept can be applied in a specific healthcare resource allocation.
How will the application of this concept impact the structure of a healthcare institution when allocating resources?
Ensure that you integrate economic terms, frameworks, and models throughout the review.
Cost-Benefit analysis and Cost-Effectiveness Analysis
Write two seperate journal entry about your experience with the organization you have chosen to study. 2-3 (800-1200 words each) single spaced each, 12 point font. These entries are up to you in terms of content — they can be good, bad or neutral experiences as long as they reflect upon the organization of your focus. Please feel free expansive in your interpretation of these guidelines.