722 Wk3 Q1 part 2

How can I Analyze the effect of healthcare reform on the healthcare consumer who uses the Insurance company launching a new medical product for the health insurance exchange

You have been recruited as an expert in health economics to recommend what is the best therapy for a group of patients. In the image below you will find the decision tree showing the probabilities for different health states and outcomes for patients undergoing two possible treatments, No drug therapy and Drug therapy. Based on the expected cost, which therapy would you recommend as the least expensive? Explain how you arrived at your recommendation and show your calculations the space provided. No drug theraphy ? Drug theraphy ? HEALTH STATES PROBABILITIES Remain in Good Health 0.5 Develop disease A 0.2 Develop disease B 0.2 Die 0.1 Remain in Good Health 0.53 Develop disease A 0.16 Develop disease B 0.22 Die 0.09 OUTCOMES (Costs) $0 $400 $300 $200 SO $800 $500 $0

Payments for the same services differ greatly between Medicaid and private insurers. Explain whether differences in payments should lead to differences in access to services and the quality of care received.

One of the significant problems in medical care markets may be the information problem. Asymmetric information has led to two important defects in the medical marketplace. What are they? How do these defects affect medical markets?

Section 2.4 lists six trends in the US healthcare system. Which of these trends can best be attributable, in part, to the trend of rapid technological change?   Group of answer choices   Steady increase in the number of uninsured Americans   Slower growth of the inpatient sector   The shrinking share of direct consumer payments   The growing share of direct consumer payments

The information needed by health care organizations (such as commercial insurers) is often quite similar to that needed by public health entities. Please describe the types of information needed by both, as well as information that may be need by one but not the other.

Demand studies in health care have provided estimates of both income and price elasticity. Estimates of income elasticity are usually above +1.0. Estimates of price elasticity typically range between -0.1 and -.75 (with hospital services at the lower end and elective services at the upper end).     What information do these estimates convey?   What does the price elasticity of demand estimates imply for government policymakers, insurance companies, and medical providers' decisions?   What does the income elasticity of demand estimates imply for government policymakers, insurance companies, and medical providers' decisions?

What challengers are hospital managers likely to encounter while making efficient use of health resources

What is the effect of Certificate of Need (CON) on the economics of long-term care economic decision making and how is this different from that of a hospital?