HCMG Exam 1 (100% Accurate)
Who are the three major parts of the healthcare system? - ANSWERSPayers,
providers, and patients
Who are the payers? - ANSWERSGovernment (via taxpayers), employer-sponsored
insurance, individual insurance, out-of-pocket
Who are the providers? - ANSWERShospitals, nursing homes, physicians, dentist, etc.
Who are the patients? - ANSWERSyoung/old, working/nonworking, insured/uninsured
Does a central government agency control the healthcare system? - ANSWERSno
is there a vast patient choice in terms of providers and subsequent insurance
arrangements? - ANSWERSyup! sure is!
What is the US access determined by? - ANSWERSinsurance and patients
ability/willingness to pay
Spillovers: - ANSWERSwhen patients do not bear the full cost of their choices
moral hazard: - ANSWERSpatients are more likely to take a risk because they will not
feel the high cost (insurance will pay for it); results in over-utlization
under-utilitalization: - ANSWERScare is not provided where the expected benefit of
improved health would exceed the full cost
over utilization: - ANSWERSCare is provided where the benefit of improved health is
not worth the full cost of providing the care
What is health endowment? - ANSWERSpeople are born with some level of health
stock, some more than others. Very difficult to change
What are the standard determinants? - ANSWERS1. education
2. endowment
3. behavior
4. medical care
What is the cost-benefit analysis formula? - ANSWERSbenefits/costs = x
when 1>x, it is efficient
Who are the three major parts of the healthcare system? - ANSWERSPayers,
providers, and patients
Who are the payers? - ANSWERSGovernment (via taxpayers), employer-sponsored
insurance, individual insurance, out-of-pocket
Who are the providers? - ANSWERShospitals, nursing homes, physicians, dentist, etc.
Who are the patients? - ANSWERSyoung/old, working/nonworking, insured/uninsured
Does a central government agency control the healthcare system? - ANSWERSno
is there a vast patient choice in terms of providers and subsequent insurance
arrangements? - ANSWERSyup! sure is!
What is the US access determined by? - ANSWERSinsurance and patients
ability/willingness to pay
Spillovers: - ANSWERSwhen patients do not bear the full cost of their choices
moral hazard: - ANSWERSpatients are more likely to take a risk because they will not
feel the high cost (insurance will pay for it); results in over-utlization
under-utilitalization: - ANSWERScare is not provided where the expected benefit of
improved health would exceed the full cost
over utilization: - ANSWERSCare is provided where the benefit of improved health is
not worth the full cost of providing the care
What is health endowment? - ANSWERSpeople are born with some level of health
stock, some more than others. Very difficult to change
What are the standard determinants? - ANSWERS1. education
2. endowment
3. behavior
4. medical care
What is the cost-benefit analysis formula? - ANSWERSbenefits/costs = x
when 1>x, it is efficient
