Exam (elaborations)
WEEK ONE: DEMAND FOR HEALTH CARE QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
- Course
- Institution
WEEK ONE: DEMAND FOR HEALTH CARE QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
[Show more]
Content preview
WEEK ONE: DEMAND FOR HEALTHCARE QUESTIONS AND ANSWERS WITH
SOLUTIONS 2024
Does evidence suggest consumers are price sensitive or price insensitive when it comes to health? -
ANSWER Demand for healthcare has been found to be relatively inelastic meaning the quantity
demanded for health care is only affected by large changes in price.
Consumers are relatively price sensitive to health care.
Describe the RAND-HIE experiment - ANSWER RCT
Randomly assigned 2,000 families from 6 American cities to one of several health insurance plans (plans
with different copayment rates):
0% copayment (free)
25% copayments
50% copayments
95% copayments
Define 'copayment rate' - ANSWER the fraction of the medical bill for which patient is responsible
Describe the Oregon Medical Experiment (OME) - ANSWER Compared two groups of low-income adults:
Lottery WINNERS: opportunity to apply for Medicaid and thus more likely to be covered by Medicaid
Lottery LOSERS: were not given a chance to apply for Medicaid
What is 'price' in health care? - ANSWER Marginal cost that patients pay when consuming a fixed amount
of care e.g. copayment rates
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Performance. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80202 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now