Health & Medical

Opportunity cost
Sunk cost
Cost-benefit analysis
Based upon the concept that you have selected, respond to each of the following questions:

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 health care resource allocation.
How will the application of this concept impact the structure of the health care institution when allocating resources?
Ensure that you integrate economic terms, frameworks, and models throughout the review.

Be sure to follow APA style page formatting, and provide at least 4 peer reviewed references from health care journals published in the past 5 years.

Moreover, operators always seek for new techniques to extend the economic lives of the reservoir also a safe way to solve various challenges connected to aging well, where Weatherford Company offers all the Innovative technology and high quality services to confront these challenges.
Weatherford Provides different services in drilling and formation evaluation, well construction, completion and stimulation, also production.
To begin with drilling services and formation evaluation, which contain different categories, for example laboratory services, reservoir solutions, surface logging system, and wireline services.
Having considered the services provided by the company, it is also reasonable to look at the different categories and their definitions, start with the first category laboratory services.
Weatherford laboratories deliver a set of basic core analysis services with a whole necessity test required to help the costumer more in improving reservoir estimates, recover their reservoir forming, also identify and correct any damage to the formation of the reservoir.

Moreover the advanced tests provided by the Weatherford labs are particularly designed to evaluate different properties such as Petrophysics, Fluid Flow Properties, Rock Mechanics, Enhanced Oil Recovery, and others.
The second category is about reservoir solutions, this category generally discuss about the oilfield challenges and the solution that the company offer to the clients for several difficulties that the operators faced.
Coming to third category surface logging system, is mostly talking about the extraction of fluids from the underground and determining the amount of sufficient gases present in the reservoir by means of specific measurements and Techniques. Inadequate fluid extraction or using unsuitable devices can cause an error in the measurements also reduce the accuracy of the analysis.

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