Economics For Healthcare Managers
4th Edition
ISBN: 9781640550483
Author: Robert H. Lee
Publisher: Health Administration Pr
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Chapter 4, Problem 8E
To determine
Explain whether the person will accept the offer or not.
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Assume you work at an insurance company.
Suggest a change you would bring to your
boss as a managed-care control aimed at
reducing the amount the company has to
pay out via reimbursements.
How can you use Microsoft Excel and your agility and problem solving skills to understand the level of risk involved in selecting the appropriate insurance to achieve your goals. How will problem solving, productivity, technology, and agility help you achieve your personal and professional goals?
Insurance needs change throughout a person’s lifecycle because people’s needs change.
True or False
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- Describe some healthcare situations in which an agent has taken advantage of a principal. Then describe some healthcare transactions that have not taken place because of fears about asymmetric information.arrow_forwardWhat is an insurance premium?arrow_forwardSuppose you have $5,000 as a gift from your parents just after you graduate. You have a car, your great grandfather’s rare World War I commemorative badge collection and you quickly found a place to rent for a while. You work in a factory that has a history of workplace injury and you work near the conveyor belts and other giant machines. You are single and live by yourself. Based on this information, what types of insurance would you need to purchase? List each type you would need and explain in 1-2 sentences why.arrow_forward
- insurance is pure liability coverage over and above the coverage provided by other types of policies.arrow_forwardAuto insurance can protect you while you are walking on the street or riding a bicycle. True or Falsearrow_forwardYour firm has a new strategy that will make its established product obsolete. However, it will take a year before you are ready to implement the new strategy. If you announce your plan in advance, profits will disappear because many customers will delay purchase until the new product is released. If you don't announce the new plan, customers will continue to buy the established product, but others may end up not doing business with you in the long run. What would you decide to do?arrow_forward
- Differentiate between MDGs and SDGsarrow_forwardEconomics Was it ethical for Tesla to hire a PR firm to monitor its employees? Yes or No? Write a paragraph to explain your answer. discussionarrow_forwardYou start an insurance company as your first entrepreneurial venture after graduation. Your main product line is malpractice insurance for dentists. After exhaustive research, you learn that settling malpractice claims against careful dentists costs $2,000 and settling malpractice claims against reckless dentists costs $7,500. Individual dentists know whether they are reckless or careful, and your research shows that approximately 20% of dentists are reckless. How much do should you charge for malpractice insurance to break even?arrow_forward
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