HCMG EXAM 1 QUESTIONS AND
ANSWERS 100% ACCURATE
Who are the three major parts of the healthcare system? - ANSWER-Payers, providers,
and patients
Who are the payers? - ANSWER-Government (via taxpayers), employer-sponsored
insurance, individual insurance, out-of-pocket
Who are the providers? - ANSWER-hospitals, nursing homes, physicians, dentist, etc.
Who are the patients? - ANSWER-young/old, working/nonworking, insured/uninsured
Does a central government agency control the healthcare system? - ANSWER-no
Conventional economic theory: - ANSWER-the expected benefit is determined by the
patients willingness to pay
Spillovers: - ANSWER-when patients do not bear the full cost of their choices
moral hazard: - ANSWER-patients are more likely to take a risk because they will not
feel the high cost (insurance will pay for it); results in over-utlization
is there a vast patient choice in terms of providers and subsequent insurance
arrangements? - ANSWER-yup! sure is!
What is the US access determined by? - ANSWER-insurance and patients
ability/willingness to pay
What does the Affordable Care Act do? - ANSWER-expands Medicaid to give premium
subsidies based on income for private coverage
National Health Expenditures - ANSWER-total value of all spending on healthcare in the
US
What does the National Health Expenditures consist of? - ANSWER-health services,
govt. administration, public health, and investment
we squeeze out inefficacy to drive up what? - ANSWER-access and quality
what are the leading types of health spending? - ANSWER-medicaid/medicare and
private health insurance
ANSWERS 100% ACCURATE
Who are the three major parts of the healthcare system? - ANSWER-Payers, providers,
and patients
Who are the payers? - ANSWER-Government (via taxpayers), employer-sponsored
insurance, individual insurance, out-of-pocket
Who are the providers? - ANSWER-hospitals, nursing homes, physicians, dentist, etc.
Who are the patients? - ANSWER-young/old, working/nonworking, insured/uninsured
Does a central government agency control the healthcare system? - ANSWER-no
Conventional economic theory: - ANSWER-the expected benefit is determined by the
patients willingness to pay
Spillovers: - ANSWER-when patients do not bear the full cost of their choices
moral hazard: - ANSWER-patients are more likely to take a risk because they will not
feel the high cost (insurance will pay for it); results in over-utlization
is there a vast patient choice in terms of providers and subsequent insurance
arrangements? - ANSWER-yup! sure is!
What is the US access determined by? - ANSWER-insurance and patients
ability/willingness to pay
What does the Affordable Care Act do? - ANSWER-expands Medicaid to give premium
subsidies based on income for private coverage
National Health Expenditures - ANSWER-total value of all spending on healthcare in the
US
What does the National Health Expenditures consist of? - ANSWER-health services,
govt. administration, public health, and investment
we squeeze out inefficacy to drive up what? - ANSWER-access and quality
what are the leading types of health spending? - ANSWER-medicaid/medicare and
private health insurance
