Based on your finding please recommend 3 policies to improve hospital performance, use the final model for your recommendation.   1st Model: Run a linear model and predict the difference between hospital beds (use the bed-tot) and hospital’s ownership on hospital net-benefit? Discuss your finding, do you think having higher beds has positive impact on the hospital net benefit? What about mlpthe ownership?     Model 1a   Hospital Characteristics Coef.  St. Err   Hospital beds 1459 1221   Ownership       For Profit -3075968 1935886   Non-for profit -3675084 2305366   Other -2451322 1747404   N 3030     R-Squared 0.1521       2nd Model: Now, estimate the impact of being a member of a system on hospital net benefit? And discuss your finding (nor more than 2 lines)? Is it significant?      Model 2   Hospital Characteristics Coef.  St. Err   Hospital beds 13729 1266   Ownership       For Profit -2815003 1933547   Non-for profit -3749384 2301021   Other -284763 175411   Membership       System Membership 5240455 1479757   N       R-Squared 0.05259       3nd Model: Now, include the ratio of ratio-Medicare-discharge and ratio-Medicaid-discharge in your model? How do you evaluate the impact of having higher Medicare and Medicaid patients on hospital revenues?     Model 3   Hospital Characteristics Coef.  St. Err   Hospital beds 153608 10017   Ownership       For Profit 49564 14816446   Non-for profit -3654294 17620991   Other -19967782 136746 94   Membership       System Membership 18972235 11396582   Socio-Economic Characteristics       Medicare discharge ratio -5858718 392663   Medicaid discharge ratio -1240015 606833   N       R-Squared 0.1909

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
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Based on your finding please recommend 3 policies to improve hospital performance, use the final model for your recommendation.

 

1st Model:

Run a linear model and predict the difference between hospital beds (use the bed-tot) and hospital’s ownership on hospital net-benefit? Discuss your finding, do you think having higher beds has positive impact on the hospital net benefit? What about mlpthe ownership?

 

 

Model 1a

 

Hospital Characteristics

Coef. 

St. Err

 

Hospital beds

1459

1221

 

Ownership

     

For Profit

-3075968

1935886

 

Non-for profit

-3675084

2305366

 

Other

-2451322

1747404

 

N

3030

   

R-Squared

0.1521

   

 

2nd Model:

Now, estimate the impact of being a member of a system on hospital net benefit? And discuss your finding (nor more than 2 lines)? Is it significant? 

 

 

Model 2

 

Hospital Characteristics

Coef. 

St. Err

 

Hospital beds

13729

1266

 

Ownership

     

For Profit

-2815003

1933547

 

Non-for profit

-3749384

2301021

 

Other

-284763

175411

 

Membership

     

System Membership

5240455

1479757

 

N

     

R-Squared

0.05259

   

 

3nd Model:

Now, include the ratio of ratio-Medicare-discharge and ratio-Medicaid-discharge in your model? How do you evaluate the impact of having higher Medicare and Medicaid patients on hospital revenues?

 

 

Model 3

 

Hospital Characteristics

Coef. 

St. Err

 

Hospital beds

153608

10017

 

Ownership

     

For Profit

49564

14816446

 

Non-for profit

-3654294

17620991

 

Other

-19967782

136746

94

 

Membership

     

System Membership

18972235

11396582

 

Socio-Economic Characteristics

     

Medicare discharge ratio

-5858718

392663

 

Medicaid discharge ratio

-1240015

606833

 

N

     

R-Squared

0.1909

   

 

 

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