HCMG-2020; FINAL EXAM REVIEW;
QUESTIONS WITH DETAILED VERIFIED
ANSWERS
1800s-WWII: Formative Stages - correct answer- Less
emphasis on R&D
1940s-1970s: Golden Age - correct answer- Low
hanging fruit
Penicillin
Science-driven model of drug development
Supported by gov't entities (ex. NIH)
1970s-1990s: Biotechnology Revolution - correct answer-
Explosion of public funding for health-related research
Increased commercialization
,IP rights
2000s-2010s: Winter of Discontent - correct answer-
Arms race in terms of extending patents and finding new uses
for existing drugs
Diminishing marginal returns to innovation
Accountable Care Organization (ACO) - correct answer-
Payment model for primary care delivery
Group of providers agree to treat a set population in exchange
for capitation payment
Medicare beneficiaries
Attentional Bias - correct answer- selective attention
to specific information and specific inattention to others
Barriers to Entry - correct answer- Monopoly on
resources
, Government regulations
Production process (natural monopoly)
Barriers to Entry: Physicians - correct answer- Medical
school (expensive, selective)
Residency
Additional training for specialties
Benefits of Consolidation - correct answer- Quality
improvements (larger size allows for more costly investments)
Cost savings
Centers for Disease Control and Prevention (CDC) - correct
answer- HHS Agency
Preventable health problems
QUESTIONS WITH DETAILED VERIFIED
ANSWERS
1800s-WWII: Formative Stages - correct answer- Less
emphasis on R&D
1940s-1970s: Golden Age - correct answer- Low
hanging fruit
Penicillin
Science-driven model of drug development
Supported by gov't entities (ex. NIH)
1970s-1990s: Biotechnology Revolution - correct answer-
Explosion of public funding for health-related research
Increased commercialization
,IP rights
2000s-2010s: Winter of Discontent - correct answer-
Arms race in terms of extending patents and finding new uses
for existing drugs
Diminishing marginal returns to innovation
Accountable Care Organization (ACO) - correct answer-
Payment model for primary care delivery
Group of providers agree to treat a set population in exchange
for capitation payment
Medicare beneficiaries
Attentional Bias - correct answer- selective attention
to specific information and specific inattention to others
Barriers to Entry - correct answer- Monopoly on
resources
, Government regulations
Production process (natural monopoly)
Barriers to Entry: Physicians - correct answer- Medical
school (expensive, selective)
Residency
Additional training for specialties
Benefits of Consolidation - correct answer- Quality
improvements (larger size allows for more costly investments)
Cost savings
Centers for Disease Control and Prevention (CDC) - correct
answer- HHS Agency
Preventable health problems
