Module 9 questions & answers graded A+ 2023/2024

Module 9What are critical resources for functional healthcare organization? - correct answer -Personnel (usually the biggest expense) -Fiscal support -Physical settings -Technology -Time to do the expected work resources translates to: $$$ Budgeting Facts - correct answer •National healthcare spending projected to grow at an average rate of 5.4% from 2019 to 2028 to reach $6.2 trillion* - lots of money spent on healthcare, yet we are not doing so hot in positive results •Projected to grow faster than gross domestic product by 1.1% per year •By 2028 health care spending will account for about 20% of the US GDP • •This growth of expenses is placing significant pressure on organizations to control expenditures •This poses unique challenges for nursing, as it is usually the largest labor force in the hospital (not the most costly) Basic Medical Economics 101 - correct answer Money in (insurance) - money spent (supplies, healthcare bill, basic costs of maintaining a building etc.) = money leftover (profit) Basic Economics - Supply - correct answer -People -Supplies/technology -Time Basic Economics - Demand - correct answer -Number of people in a health care system