In a standard economic analysis, setting a higher copayment rate per day of hospital care 1) Has the beneficial effect of discouraging unnecessarily long stays 2) Has the harmful effect of subjecting the consumer to more financial risk 3) Shifts some of the costs of care from the insurance premium to out-of-pocket payments 4) All of the above
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Q) In a standard economic analysis, setting a higher copayment rate per day of hospital care
1) Has the beneficial effect of discouraging unnecessarily long stays
2) Has the harmful effect of subjecting the consumer to more financial risk
3) Shifts some of the costs of care from the insurance premium to out-of-pocket payments
4) All of the above
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- Which option is the most effective for companies and employees: a standard fee-for-services health care insurance option or a high-deductible health insurance plan.The question scenario is: Cost of care = $10,000 Annual deductible = $1000 Coinsurance = 20% Copayment = $20 Catastrophic care threshold = $25,000 Previous out-of-pocket payment ($, this year) = 0 What is the out of pocket payment in this scenario with different health insurance policies? Assume that copayments will not count toward deductible but will count toward the maximum out-of-pocket (catastrophic care)threshold. And Explain your general approach. Use step-by-step if - then statements.How do economic evaluations in Healthcare inform policy and other decision makers
- There are many ways to define and measure the benefits and costs that go into the GPI. How do you think a person with a biocentric worldview would measure these differently from a person with an anthropocentric worldview? Whose GPI for the year 2005 would likely be higher?When the outcomes are the same for all of the interventions being studied, then the economic analysis method that can be applied is: A. Cost-minimization analysis B. Cost-consequence analysis C. Cost-utility analysis D. Cost-effectiveness analysisThe size of the uninsured and underinsured population in the United States has become an indication of the access problems in the US healthcare system.TrueFalse Health economics can be defined as An examination of factors that impact healthcare An explanation of theories, models and tools that can be applied to understand costs, access, and quality One way to understand how best to compare and contrast alternatives Help healthcare leaders understand the costs and consequences of options All of the above
- Consider two treatments. Treatment 1 saves one year of life at a cost of $10,000. Treatment 2 saves ten years of life at a cost of $1,000,000. Which treatment is more cost-effective? Why? Consider two treatments. Treatment 1 saves six years of quality adjusted life at a cost of $90,000. Treatment 2 saves three years of quality adjusted life at a cost of $60,000. Which treatment is preferred from a cost utility analysis perspective? Suppose Jay has been experiencing back pain and that there are two options for back pain: Treatment Regimen Total Cost Pain Reduction Do nothing $0 0 units Cortisone injections $600 30 units Calculate the ICER between cortisone injections and doing nothing. Jay says he is willing to pay $10 for a per unit of pain reduction. Should he choose cortisone injections? Another treatment is discovered. It costs $700 and reduces pain by 25 units. Should he choose the new treatment?Q4. If the cost expended in an intervention is 160m, cost saved due to averted diseases is 35m, cost saved due to productivity lost averted is 23m, outcome of health intervention is 65 and outcome of health without intervention is 24. Determine; Cost effectiveness ratio ii. Cost saved iii. Net health outcome iv. Net costThe impact of changing economic realities in the healthcare setting. Consider the customer perspective, organizational perspective, and provider perspective.
- H applied for a individual major medical policy. When H filed a claim within the first year of coverage and the underwriter noticed that the H's age on the claim form was different than what was listed on the application. The insurer will take which of the following actions regarding H's claim? A: Deny the claim and refund premiums B: Deny the claim, cancel the policy and keep all premiums C: Pay the claim in full and keep the policy as is D: Adjust the claim benefit amount to the insured's correct ageWhy would payers want to add shared savings components to PMPM or enhanced FFS payments to primary care clinicians?QUESTION 5 When the outcomes are the same for all of the interventions being studied, then the economic analysis method that can be applied is: A. Cost-minimization analysis B. Cost-consequence analysis C. Cost-utility analysis D. Cost-effectiveness analysis