Health Care Economics for Management
& Practice Comprehensive Final Exam
2024/2025 100% GUARANTEED PASS
Capitation - ANS >>a method of reimbursing providers (usually primary care providers, such as physicians
or nurse practitioners) in which the insurance company pays the provider a set amount of of money each
month to provide a defined set of health care services for the patient enrolled in the insurance
company's health plan. The payment is typically expressed as a per-member-per-month payment. The
defined health care services generally include preventative, diagnostic and treatment services
Centers for Medicare & Medicaid Services (CMS) - ANS >>The federal government agency that
administers Medicare and Medicaid
Diagnosis-Related Groups (DRG's) - ANS >>Refers to reimbursement for health care services based on a
predetermined fixed price per care or diagnosis in 468 categories
Effectiveness - ANS >>Production of a desired outcome; take the right action to achieve the expected
result
Efficiency - ANS >>The extent to which resources, such as energy, time, and money are used to produce
the intended result
GDP (Gross Domestic Product) - ANS >>The measure of the total value of goods and services produced
within a country; the most comprehensive overall measure of economic output; provides key insight to
the driving forces of the economy
Marginal - ANS >>an economic term that refers to a small or insignificant change in some variable (e.g.,
the number of tests performed).
& Practice Comprehensive Final Exam
2024/2025 100% GUARANTEED PASS
Capitation - ANS >>a method of reimbursing providers (usually primary care providers, such as physicians
or nurse practitioners) in which the insurance company pays the provider a set amount of of money each
month to provide a defined set of health care services for the patient enrolled in the insurance
company's health plan. The payment is typically expressed as a per-member-per-month payment. The
defined health care services generally include preventative, diagnostic and treatment services
Centers for Medicare & Medicaid Services (CMS) - ANS >>The federal government agency that
administers Medicare and Medicaid
Diagnosis-Related Groups (DRG's) - ANS >>Refers to reimbursement for health care services based on a
predetermined fixed price per care or diagnosis in 468 categories
Effectiveness - ANS >>Production of a desired outcome; take the right action to achieve the expected
result
Efficiency - ANS >>The extent to which resources, such as energy, time, and money are used to produce
the intended result
GDP (Gross Domestic Product) - ANS >>The measure of the total value of goods and services produced
within a country; the most comprehensive overall measure of economic output; provides key insight to
the driving forces of the economy
Marginal - ANS >>an economic term that refers to a small or insignificant change in some variable (e.g.,
the number of tests performed).
