Value (Ch.1) Answer: -Firms are asked to deliver higher level of quality at the same cost
-The same level of quality at a lower cost
-Higher quality at a lower cost
Iron triangle Answer: Refers to the difficulty of seeking to improve quality of care, improve access to care, and...
Value (Ch.1) Answer: -Firms are asked to deliver higher level of quality at the same cost
-The same level of quality at a lower cost
-Higher quality at a lower cost
Iron triangle Answer: Refers to the difficulty of seeking to improve quality of care, improve access to
care, and reduce the cost of care simultaneously.
Bending the cost curve Answer: This refers to reducing health spending relative to projected trends
in spending
Three health policy goals Answer: 1. Improve quality of care
2. Improve access to care
3. Reduce cost and cost acceleration
Health systems Answer: Arrangements among hospitals, physicians, and other provider
organizations that involve direct ownership of assets on the part of the parent systems
Challenge of rising healthcare costs Answer: 1. Technology and its broad application to new patients
and patient indications
2. Insurance
Rising of healthcare cost Answer: 3-4% annually for the past 6 decades
, Supply-side drivers Answer: -Provider market power
-Technology and its diffusion
-Geographic variations
-Excess capacity
-Fee-for-service payment services
-Provider market power
Demand-side drivers Answer: -Tax treatment of healthcare benefits
-Third-party payment system
-Breadth and depth of insurance coverage
-Moral hazard
-Rising national income
-Poor health behaviors
Value chain Answer: Refers to the interlinked activities among a set of organizations whereby
suppliers provide raw material inputs to manufacturers who process them and produce outputs for
downstream markets
Bureaucracy Answer: Government by bureaus or offices. More generally, it refers to an organization
structured on bureaucratic principles with clear roles, lines of authority and accountability, procedures
and rules
Why changing the healthcare system is so difficult Answer: 1. Industry is heavily regulated at both
the state and federal levels by myriad agencies and professional associations.
2. Consumerism is a newcomer to healthcare.
3. Healthcare delivery is heavily influenced by medical profession, which controls up to 85% of all
spending
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