USP 143 Final questions n answers
graded A+ updated
public good - correct answer ✔✔"A good which all enjoy in common in the sense that each
individual's consumption of such a good leads to no subtractions
from any other individual's consumption of that good"
non-rivalrous public goods - correct answer ✔✔one media product can be shared by many
people. Goods that can be inexpensively copied and distributed, allowing many consumers to
enjoy product at the same time.
non-excludable public good - correct answer ✔✔a public good that individuals cannot be
excluded (physically prohibited) from consuming
consumer goods - correct answer ✔✔goods that satisfy Hyman wants
rivalrous consumer goods - correct answer ✔✔My consumption of the
good reduces the amount available to you,
unless there is an increase in supply
excludability consumer goods - correct answer ✔✔There are mechanisms
- including physical access barriers and
price barriers - to prevent consumption
of the good
incentive - correct answer ✔✔Something, especially money,
,that encourages a person or organization to do something:
insurance - correct answer ✔✔a contractual
relationship that exists
when one party (the
insurer), for a
consideration (the
premium), agrees to
reimburse another party
(the insured) for loss to a
specified subject (the risk)
caused by designated
contingencies (hazards or
perils).
entitlements - correct answer ✔✔Federal program or provision of law that
requires payments to any person or unit of
government that meets the eligibility criteria
established by law.
law - correct answer ✔✔elected body
regulation - correct answer ✔✔administrative rules to implement laws
contributory insurance example - correct answer ✔✔MEDICARE: 65+ and have paid in to the
Medicare
, Trust Fund over time
non contributory insurance - correct answer ✔✔MEDICAID: Meet income guidelines, regardless
of
tax payments (a form of public assistance)
important note about entitlements - correct answer ✔✔"Entitlements constitute a binding
obligation
on the part of the Federal Government, and
eligible recipients have legal recourse if the
obligation is not fulfilled."
fee for service - correct answer ✔✔PAYMENT PER PROCEDURE or ACTION; who has control?
What is the incentive?
PAYMENT PER EPISODE (or illness/event): - correct answer ✔✔"DIAGNOSTIC RELATED GROUP"
OR "DRG"
CAPITATION: - correct answer ✔✔PAYMENT PER INDIVIDUAL SERVED (per capita)
USUALLY associated with "Health Maintenance Organizations" or HMOs, with a strong incentive
to reduce how much each
person's care costs AND how much time each person takes
- "Risk-adjusted capitation:" treating populations differently based on health needs
salary - correct answer ✔✔payment for a providers time
**PAYMENT FOR OUTCOMES: - correct answer ✔✔ACCOUNTABLE CARE ORGANIZATIONS or
CONTRACTS
graded A+ updated
public good - correct answer ✔✔"A good which all enjoy in common in the sense that each
individual's consumption of such a good leads to no subtractions
from any other individual's consumption of that good"
non-rivalrous public goods - correct answer ✔✔one media product can be shared by many
people. Goods that can be inexpensively copied and distributed, allowing many consumers to
enjoy product at the same time.
non-excludable public good - correct answer ✔✔a public good that individuals cannot be
excluded (physically prohibited) from consuming
consumer goods - correct answer ✔✔goods that satisfy Hyman wants
rivalrous consumer goods - correct answer ✔✔My consumption of the
good reduces the amount available to you,
unless there is an increase in supply
excludability consumer goods - correct answer ✔✔There are mechanisms
- including physical access barriers and
price barriers - to prevent consumption
of the good
incentive - correct answer ✔✔Something, especially money,
,that encourages a person or organization to do something:
insurance - correct answer ✔✔a contractual
relationship that exists
when one party (the
insurer), for a
consideration (the
premium), agrees to
reimburse another party
(the insured) for loss to a
specified subject (the risk)
caused by designated
contingencies (hazards or
perils).
entitlements - correct answer ✔✔Federal program or provision of law that
requires payments to any person or unit of
government that meets the eligibility criteria
established by law.
law - correct answer ✔✔elected body
regulation - correct answer ✔✔administrative rules to implement laws
contributory insurance example - correct answer ✔✔MEDICARE: 65+ and have paid in to the
Medicare
, Trust Fund over time
non contributory insurance - correct answer ✔✔MEDICAID: Meet income guidelines, regardless
of
tax payments (a form of public assistance)
important note about entitlements - correct answer ✔✔"Entitlements constitute a binding
obligation
on the part of the Federal Government, and
eligible recipients have legal recourse if the
obligation is not fulfilled."
fee for service - correct answer ✔✔PAYMENT PER PROCEDURE or ACTION; who has control?
What is the incentive?
PAYMENT PER EPISODE (or illness/event): - correct answer ✔✔"DIAGNOSTIC RELATED GROUP"
OR "DRG"
CAPITATION: - correct answer ✔✔PAYMENT PER INDIVIDUAL SERVED (per capita)
USUALLY associated with "Health Maintenance Organizations" or HMOs, with a strong incentive
to reduce how much each
person's care costs AND how much time each person takes
- "Risk-adjusted capitation:" treating populations differently based on health needs
salary - correct answer ✔✔payment for a providers time
**PAYMENT FOR OUTCOMES: - correct answer ✔✔ACCOUNTABLE CARE ORGANIZATIONS or
CONTRACTS
