Healthcare Economics and Policy bundled exams 2023 with 100% correct answers

Who Are the Financiers of the American Health Care System? correct answersPrivate households are the main financiers. State and Federal governments receive money from private households through taxes. Which Healthcare Programs Are Funded with State Budgets? correct answersState funding goes to Me...

Perfect Agent correct answersIf a physician were a perfect agent, They would Prescribe care based on a patient's medical needs, ability to pay, and preferences Imperfect Agent correct answersPhysicians are believed to behave differently when their income is adversely affected. If the physicians ...

Where and when was the first state board of nursing created? correct answersNorth Carolina - 1903 When was the National Council of the State Boards of Nursing created? correct answers1978 What does NCSBN stand for? correct answersNational Council of the State Boards of Nursing True or False...

opportunity cost is a measure of correct answers1. foregone opportunities 2. value based on the alternative not chosen the opportunity cost of investing in a new lithotripter is correct answersdefined by the next best use of the money invested in the equipment the "invisible hand" using Ada...

Managed care correct answersa delivery system that originally integrated the financing and provision of medical care in one organization. Medicare correct answershealth insurance for the elderly provided under an amendment to the social security act, divided into two parts: mandatory hospital ins...

What is health economics? correct answersApplication of various micro-economic tools to health issues and problems. Promotes a better understanding of health care problems so that corrective health policies can be designed and proposed. Health care resources correct answersMedical supplies (latex...

Why should we be concerned about the percent of GDP spent on healthcare? correct answers20% of GDP is spent on healthcare on healthcare. If you think about spending 20% of your paycheck on something, it is major and it matters. Production Function correct answersThe relationship between inputs an...

Community hospital correct answersShort-stays; provides general and specialty care; classified by control or ownership such as non profit/for profit; Non profits make up 58% of all; 86% of nonfederal hospitals are community hospitals Physician-owned Facilities hospital correct answersThe # of phy...

Uncertainty correct answersThe expected value of a random variable X is the sum of all the possible outcomes of X weighted by each outcome's probability Uncertainty and Risk Aversion correct answers- Same expected outcome or payout - Even when expected value is the same most people prefer certa...

What is the hallmark of the American Model of health insurance? correct answersIt is a mix of private and public insurances: private insurance is typically obtained from employers public insurance is provided to vulnerable subpopulations T/F: Employer-sponsored health insurance is free to empl...

Why has health care spending increased as a share of GDP over time? correct answers-Share of NHE was 17.8% of GDP. Expected to rise. Reasons this share has increased over time? 1.) more health care services are being bought. 2.) higher quality services using the latest technology are being pu...

American Model correct answersUnique - U.S. stands almost entirely alone among developed nations that lack universal health care American Model Characteristics correct answersPrivate Insurance Markets - Nonelderly & non-poor seek insurance on the private market, which is centered around employer...

A new treatment for 1,000 patients costs $1,000,000. The life expectancy of each patient who got the new treatment increased by 2 years. What is its cost per life year? correct answers$500 A surgeon charges $5,000 for a procedure. His contract with your insurer sets an allowed fee of 80 percent o...

Factors that Affect Demand for HC correct answers-Price of good -Time it takes to use good -income -quality of product -health status -education -age -tastes and preferences -insurance status -lifestyle Substitution Effect correct answerschange in quantity of a good consumed due a chang...