Exam (elaborations)
MHA 707 CH 6
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Exam of 12 pages for the course MHA 707 CH 6 at MHA 707 CH 6 (MHA 707 CH 6)
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MHA 707 CH 6____ is like no other sector of the economy. - -healthcare
-Even after a millennium of observation and study, our knowledge about the
human body, disease, and medicine is very much ____. - -incomplete
-In arrows explanation, the special economic problems of medical care can
be explained by adaptations to ____. - -uncertainty in the incidence of
disease and in the efficacy of treatment
-The physician nearly always has more medical knowledge, patients
generally know more about their own history, so there is usually a significant
___. - -information asymmetry between patient and provider
-Economists refer to situations in which an individual's behavior changes
when he or she is able to shift the risks of decisions to others as ____. - -
moral hazard
-If an accident costs a person $2,000 but insurance pays $1,500 the insured
person has less incentive to avoid the accident than if the insurance paid
only $500. This is an example of: - -moral hazard
-because the United States lacks a ____, how the money is paid to the
providers of health care has become very complicated a situation that health
care reform policies have not reduced. - -single national health care
payment system
-what is asymmetry information? - -occurs when one party to an economic
transaction possesses greater material knowledge than the other part
-The risks that are inherent in medicine and medical practice are really
nonmarketable in that ___. - -you can't put a price on it and you can't get
paid back creating a lot of issues
-___ is behaving differently when you know someone else is taking the risk
(induced demand). ex. people don't stop smoking even though they know it
leads to cancer bc they know the health insurance will pay for it. - -moral
hazard
-____ is the idea that sicker people likely want more insurance (the healthier,
want less insurance). - -adverse selection
-___ is the idea that sharing risk proportionately among many is a basic
insurance concept. - -pooling of risk
, -In response to this, financing health care in the United States is a complex
matter of ____. - -workarounds, redundancies, and contradictions
-Since 1964, the U.S. Department of Health and Human Services (DHHS) has
published data annually on total health expenditures for the United States,
called the ____. - -National Health Expenditure Accounts (NHEA)
-The NHEA are the official estimates of health care spending in the United
States. The goal for the NHEA is to____. - -measure spending on health care
consumption and health care investment in the medical sector
-NHEA statistics are usually published _____after the date you would have
liked to have them. - -three or four years
-THE NHEA have the following benefits for understanding the healthcare
sector spending: - -comprehensive, multidimensional, and consistent
-The NHEA are comprehensive because - -they contain all of the main
components of the healthcare system within a unified mutually exclusive and
exhaustive strusture
-The NHEA are multidimensional, encompassing not only expenditures for
medical goods and services, but also ____. - -the payers that finance these
expenditures
-The NHEA are consistent because they ___. - -apply a common set of
definitions that allow comparisons among categories and over time
-The NHEA produces the ___. - -National Health Expenditures
-The National Health Expenditures includes _____. - -all healthcare
consumption and investment in medical structures and equipment and
noncommercial health services and biomedical research
-The NHE includes ____. - -Health Consumption Expenditures
-The difference between National Health Expenditures and Health
Consumption expenditures is - -the costs of investment in the medical sector
-The HCE include all ___. - -personal health care spending, government
administration and net cost of private health insurance, and public health
activities
-The net cost of private health insurance is the difference between - -
premiums received by the insurance company and claims paid out
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