Healthcare Economy- Midterm

The setting of each of these questions is the nation of Freedonia, which includes Asclepius Hospital (one of many local hospitals), and the BBNW Insurance Company—which sends most of its patients to Asclepius for care. Please focus your answers on material covered through Module 5. Use economic terms as appropriate. Do not include arguments that are extraneous to course content.
1. Doctors at Asclepius have invented a novel cure for the extremely rare, very serious, acute, and completely unforeseeable condition of Economitis. They would like to sell it at a very high price. Explain to BBNW why they should include coverage of Economitis in their insurance packages.
2. Freedonia has passed a law that permits, but does not require, insurers to include maternity benefits in their insurance packages. What are the likely effects of this law on the insurance market? What are the implications for Asclepius?
3. The government of Freedonia has decided to implement a system of risk adjustment based on diagnosis codes in its health insurance system. How is the introduction of this process likely to affect the practices of BBNW and of Asclepius and the well-being of people in Freedonia?
4. Health insurance is becoming very expensive in Freedonia, and BBNW wants to raise coinsurance and deductibles to combat this. How are these changes likely to affect Asclepius? What evidence can you present that supports your argument?
MHA-GP 1853: Introduction to Health Economics
Midterm Exam Study Sheet
5. Freedonia contains some community hospitals and an academic medical center, staffed by the most experienced physicians. All the hospitals are operating at near capacity. The table below shows 30-day mortality outcomes (the fractions of patients who die) for otherwise identical patients seen at the two types of hospitals.
Academic Center High risk patient 30%
Low risk patient 5%
Community hospital 32%
6%
Fredonia is trying to decide where to send high-risk and low-risk patients. It is also considering funding a training program that will improve outcomes for high risk patients but can be conducted at only one of the hospitals. Where should it deploy its resources? Be sure to use economic terms and reasoning to make your argument.

Key Concept:

Don't use plagiarized sources. Get Your Custom Essay on
Healthcare Economy- Midterm
Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT!
Order Essay

•Demand and Supply, Opportunity Cost, Marginal Benefit/Cost
•Comparative and Absolute Advantage
•Maximizing behavior, indifference curves, budget constraint, market equilibrium, stable preferences
•Demand for and value of insurance
•Single product – pooling equilibrium
•Selection in a single product market
•Selection in a multi-product market (purple dot policies)
•Selection on insurance product components – mandates
•Responses to adverse selection
•Moral Hazard (asymmetric information)
•Complete contingent claims framework
•Welfare Effects of Moral Hazard
•RAND experiment and estimates
•Oregon lottery and estimates
•Response to moral hazard – i.e. coinsurance/deductables
•Value-based Health Insurance

Homework Market
Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Since all our papers are written from scratch, the papers we submit are plagiarism free and we strictly adhere to lecturer’s instructions. Our writers are highly qualified from all over the world and include graduates and professors from most of the largest and known universities in the world. Once you have assigned us your assignment, we select the most qualified and reliable writer to handle your assignment.

Money-back guarantee

Unlike other writing companies, we encourage clients to draw back their money at any stage of the writing process if they experience any uncertainties with the quality of generated content. However, you will hardly have to make this decision because of our business approach that suits your needs.

Zero-plagiarism guarantee

We have an advanced plagiarism-detection system that flags any work that fails to meet the required academic expectations. Our company thrives in honesty, and as such, you will be guaranteed to achieve a paper that meets your expectations.

Timely delivery of urgent papers

At homeworkpaper.org we have online agents that you can chat with to have your assignment taken care of with the little remaining time. Also, we have professional academic writers who will work on your assignment providing you with a high-quality paper at the same time. We can take care of your urgent assignments in less than 5 hours.

Privacy policy

We uphold confidentiality and privacy through our interactions with clients, an aspect that has enhanced our relationship with prospective customers seeking for assignment help. We do not disclose your information with third-parties; neither do we share your work with any other person apart from you.

We do not offer pre-written essays

We do not resell previously-done tasks delivered to other clients. When we deliver orders to our clients, we safeguard their privacy and confidentiality by ensuring the third party does not access the work. By writing the papers from scratch, we have managed to maintain a certain level of originality, which defines our business model. Our qualified editors proofread all submitted work to eliminate mistakes that can interfere with the credibility of the assignment.

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency