MHA 710 Exam 1 2024-2025
Opportunity cost basically is a measure
of foregone opportunities and value based on the alternative not chosen.
The opportunity cost of investing in a new lithotripter-a machine that pulverizes kidney
stones with sound waves-is defined by the next best use of the money invested in the
equipment.
What percent of Americans believed the total repeal of the Patient Protection And
Affordable Care Act of 2010 was a good thing?
40 percent
By 2020, what was the projected percent of health care spending paid by individuals?
10.4 percent
The "invisible hand" according to Adam Smith's terminology refers to
market forces operating through the price mechanism.
Recent public opinion polls indicate that what percent of Americans are satisfied with
the quality of the medical care they receive?
70 percent
According to economic theory what is the optimal percent of GDP to be spent on
medical care?
There is no generally accepted way to determine the optimal percent.
Which of the following statements is based on positive analysis?
,People without health insurance have less access to physicians' services than people
with health insurance and The high cost of health insurance puts U.S. firms at a
competitive disadvantage with their foreign competitors.
Public option
A public health insurance plan similar to Medicaid, that would compete with private
insurance.
Uncertainty
A state where multiple outcomes are possible but the probability of any one outcome is
not known.
Premium
A recurring payment required in order to purchase an insurance policy.
Group insurance
A plan in which all members of a group are insured under a single policy. The insurance,
in fact is issued to the head of the plan, usually an employer or association.
Medicare
Health insurance for older persons provided under an amendment to the Social Security
Act.
Medicaid
,Health insurance for the poor funded jointly by federal and state governments.
Flexner Report
A 1910 report published as part of a critical review of medical education in the United
States. The response of the medical establishment led to significant changes in the
accreditation procedures of medical schools and an improvement in the quality of
medical care.
Collective bargaining
The negotiation process whereby representatives of employers and employees agree
upon the terms of a labor contract, including wages and benefits.
Cost shifting
Shifting the cost of free care for the uninsured or discounted care for those served by
Medicare and Medicaid to other patients-usually those with health insurance-by
charging them higher prices
Certificate of need (CON)
Regulations aimed at preventing the costly duplication of services in the hospital
industry. Providers must obtain a certificate of need before initiating any major
expansion of facilities or services.
Employee Retirement Income Security Act (ERISA)
, Federal law enacted in 1974 that established minimum standards for employee benefit
plans, including pensions, health insurance, and disability. The federal statute protects
employee interests concerning benefit eligibility. The law also shields employers from
some forms of state regulation. States are barred from regulating self-insured plans.
Further, no state may require that employers provide health insurance for their
employees.
Entitlement programs
Government programs in which benefits and eligibility are based on a person's meeting
certain specific criteria, such as age, health status, and/or income. Examples of such
programs are Social Security, Medicare, Medicaid, TANF, and many more.
Prospective payment
The amount of payment is predetermined before the services are delivered. Prospective
payment is typical of most managed care systems and is often based on capitation.
Capitation
A method of payment that pays providers a fixed, per capita amount for a defined
medical benefits package. Providers agree to provide services to a defined population
for a fixed sum of money paid in advance on a per capita basis regardless of the actual
services provided to each individual.
Diagnosis-related group
A system of classifying patients based on specific demographic, diagnostic, and
therapeutic criteria developed by Medicare and used to reimburse hospitals.
Relative-value scale
Opportunity cost basically is a measure
of foregone opportunities and value based on the alternative not chosen.
The opportunity cost of investing in a new lithotripter-a machine that pulverizes kidney
stones with sound waves-is defined by the next best use of the money invested in the
equipment.
What percent of Americans believed the total repeal of the Patient Protection And
Affordable Care Act of 2010 was a good thing?
40 percent
By 2020, what was the projected percent of health care spending paid by individuals?
10.4 percent
The "invisible hand" according to Adam Smith's terminology refers to
market forces operating through the price mechanism.
Recent public opinion polls indicate that what percent of Americans are satisfied with
the quality of the medical care they receive?
70 percent
According to economic theory what is the optimal percent of GDP to be spent on
medical care?
There is no generally accepted way to determine the optimal percent.
Which of the following statements is based on positive analysis?
,People without health insurance have less access to physicians' services than people
with health insurance and The high cost of health insurance puts U.S. firms at a
competitive disadvantage with their foreign competitors.
Public option
A public health insurance plan similar to Medicaid, that would compete with private
insurance.
Uncertainty
A state where multiple outcomes are possible but the probability of any one outcome is
not known.
Premium
A recurring payment required in order to purchase an insurance policy.
Group insurance
A plan in which all members of a group are insured under a single policy. The insurance,
in fact is issued to the head of the plan, usually an employer or association.
Medicare
Health insurance for older persons provided under an amendment to the Social Security
Act.
Medicaid
,Health insurance for the poor funded jointly by federal and state governments.
Flexner Report
A 1910 report published as part of a critical review of medical education in the United
States. The response of the medical establishment led to significant changes in the
accreditation procedures of medical schools and an improvement in the quality of
medical care.
Collective bargaining
The negotiation process whereby representatives of employers and employees agree
upon the terms of a labor contract, including wages and benefits.
Cost shifting
Shifting the cost of free care for the uninsured or discounted care for those served by
Medicare and Medicaid to other patients-usually those with health insurance-by
charging them higher prices
Certificate of need (CON)
Regulations aimed at preventing the costly duplication of services in the hospital
industry. Providers must obtain a certificate of need before initiating any major
expansion of facilities or services.
Employee Retirement Income Security Act (ERISA)
, Federal law enacted in 1974 that established minimum standards for employee benefit
plans, including pensions, health insurance, and disability. The federal statute protects
employee interests concerning benefit eligibility. The law also shields employers from
some forms of state regulation. States are barred from regulating self-insured plans.
Further, no state may require that employers provide health insurance for their
employees.
Entitlement programs
Government programs in which benefits and eligibility are based on a person's meeting
certain specific criteria, such as age, health status, and/or income. Examples of such
programs are Social Security, Medicare, Medicaid, TANF, and many more.
Prospective payment
The amount of payment is predetermined before the services are delivered. Prospective
payment is typical of most managed care systems and is often based on capitation.
Capitation
A method of payment that pays providers a fixed, per capita amount for a defined
medical benefits package. Providers agree to provide services to a defined population
for a fixed sum of money paid in advance on a per capita basis regardless of the actual
services provided to each individual.
Diagnosis-related group
A system of classifying patients based on specific demographic, diagnostic, and
therapeutic criteria developed by Medicare and used to reimburse hospitals.
Relative-value scale
