Study guides, Class notes & Summaries

MHA 710 - Healthcare Economics - Exam 3 with Complete Solutions 2024 In order to be a successful price discriminator, a provider must have a degree of market power (depicted by a downward-sloping demand curve) and meet what other condition(s)? a. Customers cannot know that different prices are being charged. b. Markets must be segmentable, identifying differences in ability to pay. c. Demand for services must be relatively price elastic. d. Profitable service expansion opportunities must be...

MHA 710 Exam 1 Questions with Correct Answers 100% Verified Graded A% 2024 What is "economics"? - Correct Answer A Map for decision making. Economics analyzes the allocation of scarce resources. What are some of the specific challenges faced by managers in healthcare? - Correct Answer 1. The central roles of risk and uncertainty 2. The complexities created by insurance 3. The perils produced by information asymmetries 4. The problems posed by not-for-profit organizations 5. The r...

Research indicates that the 2014 expansion of Medicaid has led to a number of unintended consequences including: - ANSWER higher per capita spending on the expansion population than anticipated. Of the four categories of the Medicaid-eligible population, which of these could benefit by opening up the health exchanges to some degree of privitization? - ANSWER Adults

because resources are scarce, what are the 3 important questions to ask - ANSWER 1- WHAT shall we produce (or not) 2- HOW shall we produce it 3- WHO gets what produced cost - ANSWER the value of a resource in its next best use marginal or incremental cost - ANSWER the cost of producing an additional unit of output rational decision making - ANSWER choosing the course of action that offers the best outcomes, given the constraints one faces

What is the name of the health care reform feature where employers can either provide health care coverage to their employees or pay a payroll tax to fund government-provided insurance? - ANSWER Play-or-pay Which of the following countries placed highest on the healthcare access and quality (HAQ) index? - ANSWER Switzerland

Economics is best defined as the study of how to run a business most profitably. True or False. - ANSWER False Exhaust from a factory that increases health risks for people living near the factory is an example of an externality. True or False. - ANSWER True In 2008 and 2009, the U.S. economy experienced a deep economic downturn. If there is a short- run trade-off between inflation and unemployment, to combat the high unemployment, President Obama should have pursued an inflationary policy...

Which of the following is the best synonym for "marginal" in economics? - ANSWER additional A recurring theme in economics is that people - ANSWER Have unlimited wants, but limited resources. As a consequence of the problem of scarcity: - ANSWER Individuals have to make choices from among alternatives

Which of the following statements is true about the Medicaid program? a. The majority of total outlays are for the elderly and disabled. b. Eligibility standards are uniform across all states. c. Everyone in the poverty-level population is eligible for benefits. d. Federal tax revenues provide 100 percent of the program's funding. e. The law places a ceiling on state per capita spending for enrollees. - ANSWER a. The majority of total outlays are for the elderly and disabled

Which of the following represents the largest category of health care spending in the United States? - ANSWER Hospital Care The direct effect of a shortage of hospital beds in a hospital services market is: - ANSWER Upward pressure on the price of a hospital stay. All of the following will cause a shift in the medical care supply curve, except: - ANSWER A change in the percentage of the population with health insurance.

Chapter 11 Key Concepts - ANSWER All healthcare managers need to understand how to maximize profits. Most healthcare organizations are inefficient, so cost reductions can increase profits. To maximize profits, firms should expand as long as marginal revenue exceeds marginal cost. Marginal cost is the change in total cost associated with a change in output.

MHA 710 - Healthcare Economics - Exam 3 with Complete Solutions 2024| A+ In order to be a successful price discriminator, a provider must have a degree of market power (depicted by a downward-sloping demand curve) and meet what other condition(s)? a. Customers cannot know that different prices are being charged. b. Markets must be segmentable, identifying differences in ability to pay. c. Demand for services must be relatively price elastic. d. Profitable service expansion opportunities m...

MHA 710 Exam 1 Questions and Answers 100% Pass What is "economics"? - Correct Answer ️️ -A Map for decision making. Economics analyzes the allocation of scarce resources. What are some of the specific challenges faced by managers in healthcare? - Correct Answer ️️ -1. The central roles of risk and uncertainty 2. The complexities created by insurance 3. The perils produced by information asymmetries 4. The problems posed by not-for-profit organizations 5. The rapid and confusing...