HSCI 206 || WITH 100% CORRECT ANSWERS.
grand utility possibility frontier function correct answers measures the utility and maximizing
benefit
Pursuit of Efficiency- difference in equity and efficiency correct answers efficiency is an
objective goal that can be judged on strictly positive grounds,
equity involves normative judgements that go beyond economics
Hurley's WFM characteristics (health care) correct answers demand for health care
externalities
information asymmetry
uncertainty
vulnerability to the integrity of a person
who actually pays for health care correct answers taxes, insurance premiums and wage cuts
finance the public and private insurance pools which then throught fee for service bundled per
case and capitation peer patient per yeaer support providers of care
Financing correct answers the activity of raising funds (from individuals) to pay for the operation
of the health care system
- direct out-of-pocket payments, private insurance premiums, social insurance contributions, and
taxes
funding correct answers Funding (and remuneration)
- the activity of allocating those funds to alternative activities within the health care sector
- fee-for-service, capitation, budgetary allocations
is private or public sector financing health care more correct answers public (gov)
, Types of Efficiency correct answers
efficiency in raising revenue correct answers Technical efficiency and cost effectiveness demand
that, other things equal, the chosen financing method minimizes the administrative costs per
dollar of revenue raised.
pure market economy correct answers an economic system with no government so that private
firms account for all production
technical efficiency correct answers Producing the maximum possible amount of output from the
inputs used, given the chosen production method.
cost-effectiveness efficiency correct answers Producing a good using the least-cost method of
production from among all technically efficient methods.
why is public insurance more cost effective than private correct answers becausee they are
supporteed by taxes from gov and beneficiareiees not private sectors
single payer and multi payer predictions correct answers single payer: one set of rules therefore
less costs however multi payer: different rules by different insurers (increased adminstrative
costs because need different resources for different people's needs) not one set way/process
efficiency responding to risk preferences correct answers Allocative efficiency requires that
consumption of health care insurance conform to people's preferences about risk and the income
transfers associated with insurance.
allocative efficiency correct answers Using limited resources to produce and distrib-ute goods
and services in accord with the value individuals place on those goods and services.
cons of efficiency to risk preferences correct answers allocative inefficiency dur to risk pooling
(taking advatnage)- adveresee selection and cream-skimming
grand utility possibility frontier function correct answers measures the utility and maximizing
benefit
Pursuit of Efficiency- difference in equity and efficiency correct answers efficiency is an
objective goal that can be judged on strictly positive grounds,
equity involves normative judgements that go beyond economics
Hurley's WFM characteristics (health care) correct answers demand for health care
externalities
information asymmetry
uncertainty
vulnerability to the integrity of a person
who actually pays for health care correct answers taxes, insurance premiums and wage cuts
finance the public and private insurance pools which then throught fee for service bundled per
case and capitation peer patient per yeaer support providers of care
Financing correct answers the activity of raising funds (from individuals) to pay for the operation
of the health care system
- direct out-of-pocket payments, private insurance premiums, social insurance contributions, and
taxes
funding correct answers Funding (and remuneration)
- the activity of allocating those funds to alternative activities within the health care sector
- fee-for-service, capitation, budgetary allocations
is private or public sector financing health care more correct answers public (gov)
, Types of Efficiency correct answers
efficiency in raising revenue correct answers Technical efficiency and cost effectiveness demand
that, other things equal, the chosen financing method minimizes the administrative costs per
dollar of revenue raised.
pure market economy correct answers an economic system with no government so that private
firms account for all production
technical efficiency correct answers Producing the maximum possible amount of output from the
inputs used, given the chosen production method.
cost-effectiveness efficiency correct answers Producing a good using the least-cost method of
production from among all technically efficient methods.
why is public insurance more cost effective than private correct answers becausee they are
supporteed by taxes from gov and beneficiareiees not private sectors
single payer and multi payer predictions correct answers single payer: one set of rules therefore
less costs however multi payer: different rules by different insurers (increased adminstrative
costs because need different resources for different people's needs) not one set way/process
efficiency responding to risk preferences correct answers Allocative efficiency requires that
consumption of health care insurance conform to people's preferences about risk and the income
transfers associated with insurance.
allocative efficiency correct answers Using limited resources to produce and distrib-ute goods
and services in accord with the value individuals place on those goods and services.
cons of efficiency to risk preferences correct answers allocative inefficiency dur to risk pooling
(taking advatnage)- adveresee selection and cream-skimming
