Sensitivity Analysis :, Cabg, And Pci

The impact this rise is going to have on heath care as well as heath insurance is very dramatic. Most health insurers, private sector employers and consumers can expect increases in insurance premiums. This includes both traditional types of insurance and managed care programs, or HMOs. Some health insurance plans may also reduce benefits to keep their plans affordable. This may include increasing cost-sharing responsibility of members and the amount members pay out of pocket for certain services, such as prescription drugs.

Rising health insurance premiums have made healthcare unaffordable in the United States. Health insurance premiums in this country have undergone a steady rise over the past few years while incomes have remained the same. More than 50% of individuals with low incomes holding private insurance in the United States are unable to afford their healthcare costs (Collins, Gunja, Doty & Buetel, 2015). In addition, costs related to healthcare are equally unaffordable to 25% of working-age individuals who hold private health insurance policies (Collins et al., 2015). According to the Kaiser Family Foundation/Health Research and Educational Trust (Kaiser/HRET) survey on employer health benefits, employer-sponsored health insurance plans have also had moderate rises in premiums in 2013 for both individuals and family coverage (Claxton et al., 2013). While

A., & Fonkych, K. (2008). Hospital pricing and the uninsured: Do the uninsured pay higher prices? Health Affairs, 27(2), 116-122. Retrieved from doi: 10.1377/hlthaff.27.2.w116

There are many factors that have influenced the changes of health care economics. Money and technology has definitely been the reason for the change of health care economics over the years. Money is want makes the economy evolve. There will be advancement in technology and there needs to be people are managing these to keep up with the changes. The U.S. has definitely progressed as far as influencing factors to change in new advancement of technology and medical care. Having a good financial manager in your organization will prepare for these upcoming advancements and changes. Money drives these advancements in

CMS will be rewarding the top performing hospitals by increasing to their payment for Medicaid patients. HCAHPS survey is sent out within six weeks of the patients discharged, there is 27 questions relating to communication with the staff, cleanliness, pain management, communication about medicines, discharge information and if they would recommend the hospital. The data is to Premier Incorporated to categorize the date, and then place this information on the website http://.wwwhospitalcompar.hhs.gov and available to the public. Health Quality Alliance and Center of Medicare and Medicaid Systems have awarded over eight million to hospitals who have shown improvements in the care of their patients.

1 Kaiser Family Foundation Report on the Uninsured. Available at http://www.kff.org/uninsured/7451.cfm. 2 Danzon, P., et al. “The Impact of Price Regulation on the Launch Delay of New Drugs.” Health Economics, 2005; 14(3): 269-292. Available at http://hc.wharton.upenn.edu/danzon/html/Journal_Articles.htm. 3 The Boston Consulting Group. “Ensuring Cost Effective Access to Innovative Pharmaceuticals – Do Market Interventions Work?” April, 1999. Available at http://www.bcg.com/impact_expertise/publications/files/Ensuring_Cost_Effective_Access_Innovative_Pharmaceuticals_Apr1999.pdf 4 Thorpe, K. et al. “Differences in Disease Prevalence as a Source of the U.S.–European Health Care Spending Gap.” Health Affairs (Web Exclusive) Oct. 2, 2007. Available at www.healthaffairs.org.

One of the key aspects that lead to the financial hardships of Americans when it comes to healthcare coverage is the expensiveness of the coverage. The expensiveness of the coverage can be attributed to quite a few factors that directly and indirectly raise the cost. The number and type of technology used in hospitals, clinics, and other medical institutions absolutely affect the rising cost in healthcare (Ferlie &

The changing landscape of the current health care system in the United States has caused new methods of insurance to gain in popularity. The High-deductible health plan (HDHP) is increasingly favored by employers and offered on the exchanges created under the Affordable Care Act (ACA). According to the Centers for Medicare & Medicaid Services (CMS) a HDHP is “a plan that features higher deductibles than traditional insurance plans. High deductible health plans (HDHPs) can be combined with a health savings account or a health reimbursement arrangement” (2015). In the HDHPs premiums are lower, offset by the higher deductible. The health reimbursement arrangement (HRA) the employer contributes to a fund for medical expenses while in the health savings account (HSA) which employees pay into but is not required of the employer (Shi & Singh, 2012, p. 208). The growing popularity of these plans is important as it will have effects on the healthcare costs as well as how consumers use healthcare.

Beyond the case study, the cost curve is bending slightly due to many factors. First economic downturn in 2008 and 2009 saw many individuals lose employment and many lost employer sponsored plans. Many minimized the utilization of healthcare, while others simply did not seek healthcare because they could not afford to do so. Also, as health costs have increased over the years, individuals have demanded more transparency from their employer and healthcare provider regarding costs. Individuals are seeking information about the costs associated with procedures before they occur. Historically, when high deductible plans were the exception, individuals were less likely to calculate the cost of care prior to having procedures done, but now with high deductible plans being the norm, some individuals look for alternative cost effective care.

Calculations for setting the inpatient capitation rate with-in the hospital system is based on expected usage and charges set by the fee-for service method, rather than underlying

All of the quality indicators are important for hospital quality but the in-patient quality indicators for mortality rates are essential for better care. Research has shown that mortality indicators varying across different hospitals and suggests there could be deficiencies in quality of care that is causing this wide range. Therefore the mortality rates as quality indicators are important to provide better quality of care across our

Outcome measurements are used to evaluate the health status of patients following the care he/she has received in a given hospital. The measurements look at both the intended and unintended effects such care might have had on the health status of patients and general function. They also help evaluate the level to which a hospital is achieving its goals as they relate to the care being provided to a patients. Outcome measurements usually include traditional measures such as mortality, morbidity, and issues that are related to quality of life. They incorporate patient satisfaction reports related to the healthcare services they have received. These measures are important to patients looking for a hospital as he/she may seek the opinion of persons who have previously received medical care in a given hospital (Jha &Epstein, 2010).

Since 1993, the Truven Health 100 Top Hospitals program has used both independent and objective research to guide hospital and health system performance. In this process, they analyze public data sources to compare hospitals to similar organizations. The 100 Top Hospitals program uses a balanced scorecard that incorporates public data, proprietary, peer-reviewed methodology and key performance metrics to arrive at an objective, independent analysis of hospital or health system performance. This research measures performance, organizational alignment, progress

The PCI compliance project involves evaluation of internal control policies and procedures to reduce risk of losing credit card information. As a company that maintains millions of credit card information, PCI compliance was a key to organization’s success. First step in PCI compliance project is to identify gap between existing internal control policies and procedures to requirements set by PCI DSS standards. Once gaps are identified, risk mitigation plan and solutions are applied to ensure compliance with PCI. Overall, PCI project yield following results:

The current research programs in the Centre for Health Economic at Monash University took my interest as the university is providing a wide range of research areas in the field of Health Economics. Furthermore, the researches are mainly centred on economic evaluation, health outcomes and performance in the health care system which help me to get a comprehensive knowledge and understanding of micro econometrics and other statistical methods, while focusing on Health Economics. In addition to my postgraduate experience, during my volunteer work at King Edward Memorial Hospital and Multiple Sclerosis Society of Western Australia, I have acquired experience in designing questionnaires in relation to ongoing health programs and analysed the surveys’ data focusing on pre-and post-health outcomes. All these academic and extracurricular activities enhance my interest in Health Economics and therefore I am willing to go for further studies to have a sound knowledge of in this specific field.