Managerial Economics– MBA-540-MB01 February 2, 2015 Interwest Healthcare Corp. This paper will use the case of Interwest Healthcare Corp. as an attempt to analyze how management decisions have an impact on employee’s behavior. Conversely, once employee’s behavior is understood individual attitudes can be explained and addressed to correct or to motivate employees. This paper will address the problems presented in this case study as well as its potential sources. Furthermore, this student will present recommendations to address the problems that exist on the case of Interwest Healthcare Corp as well as provide a commentary regarding how personal views on the problem could drive the proposed suggestions regarding the case of Interwest Healthcare Corp. Interwest Healthcare Corp. is a nonprofit organization in the healthcare sector that operates 10 hospitals in three different states (Brickley, Smith, & Zimmerman, 2009).
In this journal, I will be reflecting about how insurance companies, hospitals, and patients can use Cost-benefit analysis for sustaining a life. First and foremost, Insurance companies routinely use cost-benefit analysis in healthcare to set policies and decide whether to approve claims. Many companies have blanket policies on general treatments, to either approve or deny them. If the cost is unacceptably high and the benefit is marginal or low, the company may deny treatment. In the event of an appeal, it can perform a more rigorous analysis of the situation.
Nonprofit versus for-profit healthcare and organizations analyze the characteristics of each type of organization and the factors that impact operations: “As tax-exempt organizations, nonprofit healthcare providers have a duty of serving communities and providing care without regard for a patient's ability to pay. The financial bottom line of nonprofits is covered by charging more to patients who can pay bills, to cover those who can't. For-profit providers look at healthcare as a business, with a financial bottom line that produces profits distributed to shareholders. There is no clear evidence that nonprofit hospitals or for-profit hospitals as a whole are better than the other. A 2002 Canadian study of 26,000 U.S. hospitals, found that for-profit hospitals had a 2 percent higher mortality rate than nonprofit hospitals.
Interwest Healthcare provides a good to the public. Brickley, Smith and Zimmerman (2009) define goods as “the things that people value” (p. 22). In the case of Interwest Healthcare CFO Singh and CEO Manzoni value the data contained in the management information system while the hospital administration and staff value patient services; the data or patient services are the utility which the individuals in each group are seeking. In order to offer solutions to correct the discrepancies between the two groups, the CFO and CEO and the hospital employees, a consultant would need to analyze several aspects of the situation and could utilize several types of analysis. An consultant could look at economic choice, marginal costs and benefits or the opportunity costs associated with each choice the individuals make.
Nonprofits are allowed to make a profit but it can only be used for the operation of the organization. When a nonprofit organization goes out of business its liquidated assets proceeds are given to another nonprofit organization whereas in a profit organization the liquidated assets proceeds are split among the shareholders and owners. . (Fritz, 2013) Not-for-profit hospitals are organized under the Section 501 (c)(3) of the Internal Revenue Service (IRS) tax code, and as such, are exempt from federal and state taxes and generally from local property and other taxes. Not-for-profit hospitals also have access to tax-exempt bond financing and have tax-deductible status for gifts and contributions (Barton, 2010) According to Heleni Smith private hospitals can classify as profit or non-profit, however nonprofit makes up the majority of hospitals in the United States.
Culture, employee moral, authenticity, innovation, and environmental issues are all things that are focused on in their values. 2. What keeps other companies from having the commitment to environmental sustainability that NBB has evidenced? NBB has observed that other companies fail in having the commitment to environmental sustainability by overlooking the opportunity to recycle glass. NBB attempted to develop an idea for a bill known as the “bottle bill” that would promote glass recycling by adding a deposit on purchases that would be returned to the consumer upon return of the bottles.
The specialists are paid for on a salary basis. All of these salaries are taken from the taxes that UK citizens pay. The general practitioners provide a gatekeeper role and they have a strong financial incentive to not refer you to a specialist, meaning that sometimes you may not receive the healthcare that you actually need. (G. John Chen & Steven R. Fieldman) One economic advantage of the free healthcare in the UK is that it discourages privatisation. If the UK had a private healthcare system like it does in the US then many health problems would be left untreated as individuals may not have the finances to fund the respective healthcare.
Data Visualization and Healthcare Lutalo O. Madzimoyo University of Maryland University College Turnitin Score 7% Abstract This research will examine the impact of data visualization as a megatrend on the delivery of healthcare. Information technology will have a profound impact on the healthcare industry in the digital age. Data visualization tools and methodology represent a reimagined way for individuals who receive healthcare to connect with data that will substantially change the way they will understand their health, maintain wellness, and receive healthcare services. Data visualization tools will also impact how patient information is shared, diagnoses rendered and treatments designed based on model integrated visual data models. Information technology is at the center of technological change and the healthcare services will be a major part of that change in an enduring way.
Assignment 2: Competition, Marketing Mix. And Pricing name professor HSA 305 date Determine the key characteristics of the users of the products and/or services of the health care provider you selected. Aetna uses three principles to help drive out of the box thinking: innovation, integration, and information. To keep the creative juices flowing, Aetna assigns dedicated innovation officers. Aetna hires a dedicated innovation officer to drive new ideas in each of its major department (e.g., care management, product development, pharmacy).
The term “Universal Healthcare” refers to equal health coverage for all residents of a nation “funded by the government under [a] single-payer system” (Cummings). The United States currently does not utilize universal healthcare; its health insurance is provided mainly through employers and by private companies. This consumer-driven system is harmful to the residents of the United States who are unemployed and cannot afford expensive private insurance. It also facilitates the need for welfare and, even then, those on public assistance receive a lower quality of care. Universal Healthcare would lower the mortality rate in the United States by solving the problem of the uninsured and the underinsured, as well as halt rising healthcare costs in the U.S.