The difference between retrospective versus prospective reimbursement is that: a.Prospective reimbursement is cost-based and payments are based on each healthcare services/goods done or given; retrospective reimbursements are based on set standards such as DRGs in the case of hospitalizations. b.Retrospective reimbursement is cost-based and payments are based on each healthcare services/goods done or given; prospective reimbursements are based on set standards such as DRGs in the case of hospitalizations. c.Both payment systems practically mean the same thing since it is a way to reimburse providers of health care services on the services they have already given to patients. d.None of the choices are correct

Retrospective Payment Framework A framework wherein repayment is made to the supplier dependent on a predetermined repayment level as opposed to on actual charges after the services have been given. Retrospective payment framework. A framework wherein repayment is made to suppliers after medical care administrations have been given. Prospective Payment System (PPS) is a technique for repayment wherein Medicare installment is made dependent on a foreordained, fixed sum. The installment sum for a specific help is inferred dependent on the order arrangement of that assistance (for instance, finding related gatherings for long term emergency hospital services).Option C is correct because, Prospective payment plans have various advantages. Since provider get a similar installment paying little mind to quality of care, some may be moved to offer less intensive and less customized services. Retrospective payment plans pay medical services provider dependent on their real charges.

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ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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The difference between retrospective versus prospective reimbursement is that:

	a.	Prospective reimbursement is cost-based and payments are based on each healthcare services/goods done or given; retrospective reimbursements are based on set standards such as DRGs in the case of hospitalizations.
	b.	Retrospective reimbursement is cost-based and payments are based on each healthcare services/goods done or given; prospective reimbursements are based on set standards such as DRGs in the case of hospitalizations.
	c.	Both payment systems practically mean the same thing since it is a way to reimburse providers of health care services on the services they have already given to patients.
	d.	None of the choices are correct

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