MHA 610 Final Exam Questions & Answers 2023/2024

MHA 610 Final Exam Questions & Answers 2023/2024 "What is meant by the term "health care costs" Give the 3 meanings - ANSWER-1. Billings and premiums that the patient pays 2.How much debt the nation is in for medical expenses 3. The cost of producing services such as supplies and equipment Rand Health - How does it show relationship of rising costs and third party reimbursement? - ANSWER-The experiment showed how people who paid out of pocket were less likely to utilize the services, making them spend less. Those who were covered used the services more. No difference in health status was noted How does an imperfect market have higher price and quantity than a highly competitive market? - ANSWER-A free market is driven by supply and demand. Our market is only partially a free market, and is driven by a multiple payers system, making it difficult to negotiate prices How is cost containment different in the US compared to other countries? - ANSWER-Other countries have a "top-down" cost control with a set budget on a single-payer system. In the US, we have a multiple-payer system with no direct control over costs, making it hard to contain. Discuss the effectiveness of CON - ANSWER-Certificate of Need laws were designed to give state funding to new equipment and investments that hospitals would apply for approval for. CON laws failed because of legal challenges and barriers to expansion. They also conflict with the ACA because they haven't been shown to reduce costs. Most states are ready to abandon them all together What are the 4 competition based cost containment strategies? - ANSWER-1. Demand-side Incentives 2.Supply-side regulation 3.Payer-driven competition 4.Utilization controls