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LSUS MHA 710 ch 1 &2 Exam Questions And Accurate Answers
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LSUS MHA 710 ch 1 &2 Exam Questions AndAccurate Answers
opportunity cost is a measure of what?
forgone opportunities, value associated with the alternative not chosen
what is the opportunity cost of investing a a new lithotripter?
the next best use of money invested in the equipment
what percent of Americans considered the repeal of the patient protection and ACA a
good thing?
40
by 2020, what was the forecasted percent of HC spending paid by individuals?
10.4
adam smith defines the invisible hand as
market forced working through the price mechanism
what percent of Americans are satisfied with the quality of care they recieve?
70
what is the optimal percentage of GDP to be spent on HC?
there is no widely accepted way to determine a percentage
public option
,public health insurance plan comparable to Medicare, competes with private insurance
uncertainty
a state where multiple outcomes are possible but their likelihoods are not known
group insurance
entire group is covered under one policy. Insurance is actually issued to the plan holder
- usually an employer or association
Flexner report
1910; reports criticized medical education in US. Accreditation procedures changed
and quality of care was improved
Collective bargaining
bargaining between representatives of employers and employees reach an agreement
regarding the terms of a labor contract, including wages and benefits
cost shifting
practice of charging higher process to one group of patients in order to provide free of
discounted care to those on Medicare or Medicaid
certificate of need
Regulations that attempt to avoid the costly duplication of services in the hospital
industry.
Employee Retirement Income Security Act - ERISA
U.S. statute that established minimum uniform standards to ensure that employee
benefit and pension plans are established and maintained in a fair and financially sound
manner.
entitlement prgram
, Government programs for which eligibility to receive the program service(s) is
determined by a predetermined criteria, often based on factors like age, health status,
and degree of income. Programs within this designation include, but are not limited to
Social Security, Medicare, Medicaid, TANF, and many others
capitation
fixed, per capita payment is made for a specified medical benefits package
Diagnosis-related groups
Government support programs in which entitlement is determined by designated
criteria which include age, health status, as well as level of income. Examples include
Social Security, Medicare, Medicaid, Temporary Assistance for Needy Families (TANF),
as well as many more
relative value scale
index that assigns weights to different medical services used to calculate the relative
fees assigned to those services.
managed care
A delivery system that initially combined the financing and delivery of medical care into
one organization. Today, the term includes a variety of arrangements aimed at
coordinating services and containing costs.
indemnity insurance
person experiencing an economic loss was paid an amount equal to the size of the loss
horizontal integration
-merger of 2 or more firms that produce ethe same good/service
vertical integrations
expansion to secure elements of the supply chain to ensure availability of resource to
produce the good
moral hazard
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