Fusion of market and social justice 9. Quest for integration 10. Legal risks influences practice 5. Why is the US health care market referred to as” imperfect”? The US health care market is referred to as “imperfect” because the prices are determined by health plans rather than the interaction of the forces of supply and demand.
in 1978 and proposed that profit was less important than fairness in the relationship. According to Hatfield (2011) “According to Equity theory, people feel most comfortable when they are getting exactly what they deserve from their relationships—no more and certainly no less” Exchange Theory is more concerned with under-benefit as a disadvantage but Equity Theory places a greater emphasis on both under-benefit and over-benefit. Under-benefits are likely to provoke a sense of anger and resentment and over-benefits are likely to provoke a sense of guilt. The Equity model suggests that a person would be driven to restore the equity within an unbalanced relationship by either reducing their input or increasing their outputs and it is the inability to reach balance that can lead to the breaking of the relationship. Investment theory focusses on the extent to which commitment is determined by investment in a relationship rather than solely satisfaction or reward.
Caledonia Products Integrative Problem Fin/370 Caledonia Products Integrative Problem 1. Why should Caledonia focus on project free cash flows as opposed to the accounting profits earned by the projectwhen analyzing whether to undertake the project? Caledonia should focus on free cash flow rather than accounting profits because the free cash flow is what the organization receives, which can then be reinvested. Through thoroughly analyzing the free cash flow, Caledonia would be able to determine the actual benefit or the cost involved. The organization should primarily focus on the incremental cash flow because the incremental cash flow holds a marginal benefit from the project.
Grantham University HSN511 HSN511 – Health Services Management Professor Michael Snell Written Assignment 2 – Income, Risk and Consumer Demand for Health Care Why is the depreciation of capital good a cost of society? Capital good is defined as goods that are used in the creation of other goods to include tools, raw materials and even the factories that help create the goods for use. Capital goods depreciate because of physical wear and tear or technological change. Depreciation is not necessarily considered negative for society. Utilizing depreciation in health care high ticket items can be expensed over its projected life.
Value and cost of information. Competent marketing researchers show concern for estimating the value of information against its cost. Value/cost evaluation helps the marketing research department determine which research projects to conduct, which research designs to use, and whether to gather more information after the initial results are in. Research costs are typically easy to quantify, while the value is harder to anticipate. The value depends on the reliability and validity of the research findings and management's willingness to accept and act on its findings.
A punishment through the P4P system can end in the reduction of compensation or other penalties. These forms of incentives or punishments are important to the health care since the entity relies on the financial disbursement for the services provided. The health care entities can do beyond the projected financial goal or can sink lower than the projected goal. The organization can thrive or it can go under as a result of the P4P
What were the problems in the health care system that the Affordable Care Act of 2009 sought to address? What was the public option, and why did it not pass? How would the new health care program be paid for? What were some of the provisions of the Affordable Care Act? Some of the things that the Affordable Care Act of 2009 wanted to address were to make it possible for every American citizen to have insurance coverage; another problem they wanted the act to address was the help reduce the soaring cost of Medicaid.
What do statistics reveal? Statistically significant? 4. Alternate explanations? Bias in research- refers to beliefs that interfere with objectivity Placebo effect- a fake treatment, an inactive substance like sugar, distilled water, or saline solution can sometimes improve a patient’s condition simply because the person has the expectation that it will help them.
I agree with the reductions in costs, even in a medical error. I liked the way they conducted the research and how they handled their findings, yet when they found that EMRs did not really prevent medical errors and to not increase patient safety, I had to disagree. If an EMR is correctly formatted and records are kept precisely and consistently, then the safety of a patient would have to increase. EMRs keep track of medication allergies, mental disorders, chronic illnesses, current and pat medications and procedures, all this would be a tool to correctly prescribe, treat and care for a patient, reducing medical errors just by having knowledge of their
Assignment 1: Health Care Economics HSA510 Feb 26, 2014 1.Assess the value of healthcare professionals and decision makers understanding the discipline of health economics. The results of an economic evaluation of a health intervention may also vary depending on the choice of comparator. With regard to the outcome measures, efficacy usually differs from effectiveness. Factors such as adherence rate, dose adjustment, length of treatment, use of concomitant medication etc. may explain the difference (Moore 2010).