PHMD 5250 Exam 3 Questions and Answers 100% Solved
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Course
PHMD
Institution
PHMD
PHMD 5250 Exam 3 Questions and
Answers 100% Solved
what is the primary purpose of for-profit organizations? - to provide a
financial return on a shareholder's investment
are most corporations and privately-held businesses for-profit or not-forprofit? - for-profit
name 4 examples of for-profit ...
describe risk transfer in insurance - ✔✔the risk is transferred from an
insured to an insurer, which is typically in a better financial position to bear
the risk than the insured because of large numbers of members in the risk
pool
describe indemnification in insurance - ✔✔- reimbursement to the insured if
a loss occurs
- ex. when the insurer pays the insured, or the provider, in whole or in part
for the services rendered related to their illness or injury
what are the two main challenges with establishing risk pools? - ✔✔1)
adverse selection
2) moral hazard
describe the adverse selection challenge associated with establishing risk
pools. what was done to avoid this challenge? - ✔✔- individuals who are
more likely to need health services are more likely to purchase health care
- if adverse selection goes unchecked, costs can be driven up for all
members in the risk pool
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