Ethical and economic challenges related to policy decisions

Ethical and Economic Challenges Related To Policy Decisions
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Ethical and Economic Challenges Related to Policy Decisions
Decision making concerning policy formulation tends to be associated with many commercial and ethical difficulties. It requires the final decision to consider economic and moral implications. Health care takes a significant lead in the analysis and decision making based on their economies (Moore, 2018). The 2010 Medicare treatment scheme that incorporated the province of drugs raised eyebrows from the primary stakeholder, not forgetting the general public. The ethical concern in the decision was the cost consideration by the Medicare policy. However, the Provenge drugs were too expensive (Guindo et al., 2012). This case provides a clear example of how economic and ethical issues affect the decision-making process in the health sector.
Even though it is unethical for Medicare to be affected by cost, it is uneconomical for the government to cater to the massive bill associated with cancer drugs. Currently, the USA has one of the most expensive health sectors in the world (Briggs, Scarborough & Wolstenholme, 2018). This forces the government to adopt a cost-cutting strategy. Including the cost of treating prostrate could increase the value of medicine to each patient to $90000. This implies an increase in taxation, and, hence, it is extremely expensive for the government to sustain.
In conclusion, medical health decision in policy formulation tends to be controlled by both economic and ethical factor.

Even though the provision should not be constrained by cost due to moral integrity, it becomes difficult to sustain such expenses that are demanded by the health sector service provision. In this case, economic constraints have to be a limiting factor in the policy formulation by the stakeholders in the health sector and the government of the USA. It balances the ability of government to plan with the resources available.
References
Briggs, A. M., Scarborough, P., & Wolstenholme, J. (2018). Estimating comparable English healthcare costs for multiple diseases and unrelated future costs for use in health and public health economic modelling. Plos ONE, 13(5), 1-14. doi:10.1371/journal.pone.0197257
Guindo, L. A., Wagner, M., Baltussen, R., Rindress, D., van Til, J., Kind, P., & Goetghebeur, M. M. (2012). From efficacy to equity: Literature review of decision criteria for resource allocation and healthcare decisionmaking. Cost Effectiveness and Resource Allocation, 10(1), 9.
Moore, G. A. (2018). Why Universal Healthcare Is A Trend In The U.S. International Journal Of The Academic Business World, 12(1), 103-106.