MANAGERIAL ECONOMICS 407 1
ABSTRACT
This project encompasses a managerial economical view of a durable medical equipment company (DME), that is located in Spokane Valley, Washington. Within the project is a background of information regarding the company and the products and structure that define the company. It continues with some special considerations regarding the economics of sleep medicine, among other considerations. Finally, the conclusion draws the information together with the author’s opinion of how the business structure has been hugely impacted by extreme changes in the area of governmental reimbursement for products related to sleep medicine. In addition, the project includes several areas of economic principles and how they can
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The third branch is the focus of this project. In this location, I work as a Registered Respiratory Therapist who provides medical services and devices for sleep apnea patients. The devices are prescribed by a sleep physician and provide a variable pressure to the patient’s airway by a special mask, which is secured to the patient’s head by means of a headstrap. My job is to operate within my license to adjust the prescribed pressures in order that the patient’s sleep apnea be obliterated by forcing their airway open during sleep. By accomplishing this, the brain does not arouse scores of times during the night which does occur with a sleep apnea patient. These arousals cause the patient to be extremely sleepy during the day, as well as to cause their oxygen level in their body to diminish consistently. This can have major effects on all body systems as well as cause them to fall asleep during the daytime when doing such activities as driving or even talking with someone. I have seen several meat cutters with sleep apnea present in my office with missing fingers from falling asleep while cutting meat. The economical ramifications of the incidence of sleep apnea is insurmountable in …show more content…
MANAGERIAL ECONOMICS 407 7
They do exist. Increasing value added and patient surplus is paramount in receiving word of mouth advertising, which in my opinion is the biggest honor in business I can get.
Conclusion
In my opinion, the longterm prospects for Inspired Solutions is good. Even with reimbursement cuts and the craziness of dealing with Medicare and the other insurance companies, I think that with the increased demand and with the further technological advances making streamlining even more effective than it is now, the future will be more business with lower reimbursement rates. In other words, we will have to work harder for less reimbursement.
Profitability will have to be maintained by further decreasing our scale by not taking any more
Medicare patients, unless they are willing to pay out of pocket at higher levels that what
Medicare is offering. We will also have to decrease our avoidable costs when we can and keep our workforce lean, efficient and happy with where they
Medicare is not set up to handle the influx of medical treatments that these individuals will eventually have where in 2020 the program will only be able to cover 79% of hospital inpatient costs (Roy, Lesser and Pope, 2011, p. 375). This leaves individuals with having to pay for Part B sections of Medicaid that cover the extra costs like part time home care and deductibles for expensive procedures. These chronically ill individuals are then forced to use their life’s saving to help subsidize for their care like Dr. Janowitz (Living Old. 2006. PBS Frontline) who pays $150,000 a year for home care that he needs, rather than Medicare helping to cover costs. The only way an individual like Dr. Janowitz could get subsidized by the government would be if he used his entire savings to which he would then be eligible for Medicaid.
Dr. Avi Weisfogel is the founder of Dental Sleep Masters. He is highly experienced in the treatment of sleep and sleep disorders. Old Bridge Dental Care was his first established dental practice in 1999. After 15 years in office, he received tributes from the public. He has been the best-known dentist over a long time. He uses the opportunities that come his way in learning about how dentists and doctors help patients grieved with sleeping illnesses. He established a Dental Sleep Masters to assistance dentists through the aid of oral appliances. Through his company, he has been able to understand sleeping apnea. This information has helped dentists find latent patients and assist them in getting treatment. Dr. Weisfogel got his BA in biology
Discussing the nighttime routine, the patient states they go to sleep at 10 p.m. and does not use
In addition, the person lacks the sleep needed to function properly throughout the day. This may bring about fatigue, accidents at work, car accidents and more. Individuals with high blood pressure may find their condition worsens if they suffer from obstructive sleep apnea, and those with diabetes find they are more at risk of this condition. People who are overweight are more at risk of sleep apnea, and this condition makes it harder to lose the weight. These are only a few of the many dangers associated with this condition, thus treatment needs to be sought in a timely
Sleep researchers often attempt to uncover methods permitting humans to sleep less, but still function at an acceptable level. One example of researchers finding ways to cheat sleeping is the study of polyphasic sleep patterns. Research on polyphasic sleep patterns asserts that a person can break up their sleep into portions, thus having extra time to be productive. Articles that encourage polyphasic sleep also ambitiously play with the title’s diction, trying to spike interest, but instead misguides students to develop a delusion and assume sleep is unimportant. Even with scientists denouncing polyphasic sleeping as a myth, students still consider sleeping as a waste of time, and can be more productive by staying up all night doing homework. Although students misconceive that depriving sleep enhances work efficiency, not enough sleep is detrimental to health, because it stimulates loss of physical health and decreases brain function.
Sleep apnea is a subtle yet extremely dangerous condition that can cause many issues. It is a condition where the patient ceases breathing for periods of time during sleep (American Sleep Apnea Association). It is caused mainly by blockage of the larynx by overgrown tissue. Sleep apnea makes it difficult to enter deeper stages of sleep which in turn causes many issues. “Left untreated, sleep apnea can have serious and life-shortening consequences: high blood pressure, heart disease, stroke, automobile accidents caused by falling asleep at the wheel, diabetes, depression, and other ailments (American Sleep Apnea Association).” Sleep apnea can cause truly life threatening and shortening issues. Sleep apnea is difficult to diagnose. The disorder
Often people who struggle with sleep apnea have a tendency to be overweight. Studies have shown that many were overweight to begin with and that weight contributes to sleep apnea. It is also true, that sleep and oxygen deprivation slows down the metabolism and more effort is required to burn calories. In addition, people who feel sluggish tend to eat more and exercise less.
Split night polysomnogram protocol was explained upon the patients arrival. The patient is currently here to assess for sleep apneas due to symptoms such as daytime sleepiness, snoring as well as a a BMI of 34.37.
The sleeping disorder called Narcolepsy is defined as a neurological condition marked by uncontrollable sleep attacks, excessive daytime sleepiness, and cataplexy ( an abrupt loss of muscle tone) (Brandt and Laberge). It is the second most leading cause of daytime sleepiness and is a chronic brain disorder (Brandt and Laberge). The disorder affects over 200,000 Americans and is recognized when the individual experiences a sudden, uncontrollable need to sleep at any moment (“Sleep and Sleep Disorders”). Narcolepsy can occur in people who are born with it but most often seen sporadically. There are other factors that can cause the disorder like an infection, immune system deficiencies, stress, and change in hormones (Brandt and Laberge). Symptoms
The ramp feature can be pressed to gradually increase the air pressure to your prescription setting, to allow you fall asleep easily
Obstructive sleep apnea has found its way back into the headlines as it carries serious threats to health and impacts the daily lives of those affected.
Medicare’s enrollments have been significantly increasing with expected 70 million baby boomers to join its ranks. This poses the question of how to provide care for these new incomers in a time of bad economy. Medicare is very restrictive and imposes a lot of rules and laws for qualifications. Therefore, members may experience difficulty getting emergency or urgent care. Also, they have to follow plan rules to get covered care and any error would disqualify a patient from receiving assistance. Since not all hospitals or physicians accept Medicare, members are restricted in their choices of doctors, hospitals, other providers, locations and outpatient care. Although Medicare saves patients money, people are still encountering high costs and additional premiums on supplemental insurance. Hence, Median out-of-pocket health spending for the elderly and disabled on Medicare as a share of income has been rising, from about 12 percent in 1997 to more than 16 percent in 2006. There has evolved huge unexpected gaps in the Medicare coverage strategy. These gaps include incomplete coverage for skilled nursing facilities, incomplete preventive care coverage, and no coverage for dental, hearing, or vision care.
The efforts to improve quality of health care and outcome while bending the curve of health care must be a top national priority. Despite of progressing in reforming the health care market, still not very promising for America’s older adults or population as whole. While more than 90% population is currently insured, cost of Medicare and Medicaid will exhaust large shares of the US economy and federal budget in the next years ahead. Analyses of the employment market and the non-group market has confirmed the rising of premiums and deductibles. With that in mind, it is likely that the America population will encounter with higher rates of illness, disability and early mortality.
Managers and business owners always want to maximize productivity in the workplace. Many strategies and methods for improving efficiency and worker productivity are always being tried and implemented to ensure that the delivery of products and services to intended destinations is being handled in the most cost-effective and timely manner.
Rest & sleep were also addressed basing on the goal that was identified. Patient was constantly reminded to perform breathing exercises before bed to help promote relaxation. Patient also stated that he asked for his pain medication before going to sleep to help him sleep longer uninterrupted.