• MGMT CICs made mgmt. agree to easily for the deal → maybe invite to an auction to increase price? (Disadvantages: 1. who will buy the company? Maybe not a strategic buyer 2. If the auction does not go through?
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.
Product As stated above, the product is the physical products and services in which the hospital provides. Products and services are important to hospital because should cater to the target customers. The product is considered the “platform” of the marketing plan, according to Pralea. Decisions about products and services in a health care facility may involve brand name, functionality, quality, safety, packaging, and repairs and support. Every hospital does not provide all services.
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).
Not only is it important for healthcare providers to construct and implement a treatment plans, but also to involve patients in medical decision making about their treatment. To determine effectiveness, healthcare providers must assess how treatment of the illness effects the patient in addition to their own evaluation of treatment. The dictionary definitions of effective are (a) adequate to accomplish a purpose, producing the intended or expected result; (b) in operation or in force, functioning; (c) producing a deep or vivid impression; (d) prepared and available for service; and (e) a member of the armed forces fit for duty or active service (“Effective”, n.d. a). According to Stedman’s Medical Dictionary (2006), the medical definitions of effective are (a) the extent to which a treatment achieves its intended purpose; (b) A measure of the accuracy or success of a diagnostic or therapeutic technique when carried out in an average clinical environment. According to Wikipedia (n.d. b), the usage of effective includes (a) mathematics, can be used as a synonym of
Analysis of the Case ▪ What changes do you recommend to CVS’s existing pharmacy fulfillment process? What information technology (IT) changes, if any, are required to implement those changes? (200–400 words) ▪ How can you be sure that the new process you propose will be an improvement over the existing one? How can you be
“The second prong of the strategy was directed toward the hospitals and was focused on improving efficiencies in basic health care and outpatient services” (Blanchard & Thacker, 2013, p. 51). The External Environment of MHC and how the Strategy Aligns The external environment of MHC operates in accordance with the governmental regulations and insurance required procedures. The government was pressuring health care institutions to reduce their fees. “The federal and state governments were putting increasing pressure on health care institutions to reduce costs” (Blanchard & Thacker, 2013, p. 51). Many of the patients that were receiving treatment at MHC were doing so as an outpatient; which meant beds were going unused.
Examine EHR applications used in the clinical setting 5. Analyze the benefits of an EHR related to cost, access, quality, safety, and effectiveness 6. Evaluate stakeholder perspectives and key issues that affect EHR adoption 7. Explore future directions for EHR adoption and integration KEY TERMS Ancillary system, 95 Bar Code Medication Administration (BCMA), 93 Clinical documentation, 94 Computerized provider order entry (CPOE), 92 Data integrity, 99 Disruptive technology, 100 Electronic health record (EHR), 88 Electronic medical record (EMR), 88 Electronic Medication Administration Record (eMAR), 93 Health Information Technology for Economic and Clinical Health (HITECH) Act, 90 Niche applications, 95 Radio frequency identification (RFID), 94 Stakeholders, 97 ABSTRACT Over the past decades the electronic health record (EHR) is one of the most significant innovations introduced in healthcare.
Its Primary purpose is to ensure quality patient care and managing the cost of that care. Its secondary purpose as defined by the Institute of Medicine (IOM) deals with individual users for education, regulations, policies and public health from data entered, verified, corrected or analyzed directly or indirectly. Homeland Security has recently been added to the list of users, including patient care providers, managers and staff, coders and patients themselves. Patients can make changes as necessary. Other users might include lawyers, employers, law enforcement and researchers.
How might competition impact the services provided to the patient? How does the improvement upon the resources, tools, and competency of medical staff personnel involve the element of competition? If we were to consider how far modern medicine has evolved within the last several decades, it is obvious that the competition for further improvement has allowed the health care industry to evolve exponentially. The services provided to the patient, the resources available to the patient, the tools utilized during patient treatment, and the level of knowledge and expertise of the medical staff all impact the proficiency and reputation of the health care organization. As a patient we place the utmost faith and fidelity within the hands of those providing treatment, we are entrusting personal information about ourselves with the unanimous understanding that our best interests will always remain a priority, and we expect successful treatment regardless of the reason or purpose for the visit.