...Economics is a chief importance in a household and country what a person chooses and how it may operate properly. Economics includes the study of labor, land, and investments, of money, income and production, and of taxes and government costs. “Economists seek to measure well-being, to learn how well-being may increase over time, and to evaluate the well-being of the rich and the poor. The most famous book in economics is the Inquiry into the Nature and Causes of The Wealth of Nations written by Adam Smith, and published in 1776 in Scotland. ("What is economics,”) With healthcare increasing in the country and insurance agencies providing consumers with the proper coverage for care these conditions are becoming a stress. But within this tension agencies are finding ways to merge and accommodate all aspects of consumers need financially and providing the care needed. According to the “Competitive Effects Analyses of Hospital Mergers” over the past decade, there have been more than 500 hospital transactions and realignment is expected to continue in 2014 and beyond. (Guerin- Calvert, 2014) Economically to control the flow, smaller independent hospitals are being advised to affiliate themselves with larger facilities to better contain their businesses as well as their patients. Innermost concern that patients have is the cost of coverage for the care that will be provided to them. And the trends in network to diminish a patient and their finances benefits are designed...
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...The History of Healthcare Economics Stephanie Creech HCS/440 December 12, 2011 Bert Munoz The History of Healthcare Economics When healthcare first began just about anyone could practice medicine, and it stayed this way in the United States until 1806 when the first licensing laws were passed in New York (Wellness Directory of Minnesota, 2003). Since then healthcare has evolved; changes in technology, organization, and payment structures just to name a few are constant. Keeping up with them, and understanding how they affect healthcare economics can be challenging to say the least. Although, there are many factors that contributed to these changes perhaps the biggest factor was the technological advances and changes in the quality of medical care. To be able to prosper now, and plan the future one must study the past. Healthcare mangers must fully understand the history and flow of funds in healthcare economics to be effective in their positions. Although, it seems obvious it is important to remember that the driving force behind any organization including healthcare is money. Money is vital because without it the organization would have to close. “Formalized medicine in America began in the 1800’s and continued until the 1930’s. This helped to establish the medical profession through both expanded duties and formal education” (Wasley, 2011para4). When doctors or physicians first began some would barter with their less fortunate patients to ensure payment...
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...Legal, Safety, and Regulatory Requirements Angelica Leadabrand HCS 341 September 26, 2011 Norman Greene Legal, Safety, and Regulatory Requirements In the healthcare industry there is a wide range of staff members who have a variety of specialties and responsibilities. Maintenance, Housekeeping, Medical staff, and Administration are all examples of positions available in hospitals or clinics. It is easy to see that staff in Administration may not have the same needs as staff members in Housekeeping. Healthcare organizations are regulated by different regulations that affect how patients are handled, paperwork is processes, and how chemicals are handled. Human Resources departments are responsible for how many of these regulations are addresses and followed. Failure to adhere to the many regulations placed upon healthcare organizations can result in costly fines and litigation. Some examples of regulations healthcare organizations are required to follow are Health Insurance Portability and Accountability Act of 1996 (HIPAA) (US Department of Health and Human Services, 2011) . HIPAA regulates how healthcare organizations protect the privacy of patients, access to medical records for patients and other healthcare organizations, and other aspects of insurance (US Department of Health and Human Services, 2011). Occupational Safety and Health Administration (OSHA) was enacted in 1970 (United States Department of Labor, 2011). OSHA regulates the work environment for staff...
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...| Communication in Health Care | Salina, Martin | HCS/320 | Concepcion Vargas | September 20, 2012 | | Communication is important in the health care field because we need to be in the same page with others that we are trying to accomplish something with. We have to communicate every day; we need to know the importance of good communication to be successful in anything. We must have good communication with or husbands or wives to have a good relationship and a peaceful household. If we do not communicate effectively with our families, then problems will occur. That is when divorce is the only option. In whatever field we work in now or in the future, we have to communicate effectively because we need to keep our job. Effective communication is a culture of inclusion, collaboration, and partnership of purpose (Atufunwa, 2009). When communicating effectively the message is being transmitted effectively. There are four basic elements of communication which are sender, message, receiver, feedback. The sender is the person talking and trying to communicate something to the other person. The message itself that the person is trying to put forward. The receiver is the person that is getting the message. The feedback is what the receiver gives in return. A provider might be more opened to talk to the patient, have better bed side manners. Some doctors have poor bed side manners and make the patient consciously or sub-consciously shy away from them. There should be...
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...The Financial Environment: Questions & Problems Questions 2.1, 2.2, 2.3, 2.6, 2.8; Problems: 2.1, 2.5 2.1 The three primary forms of businesses are: Proprietorship, Partnership, and Corporation. Benefits: Proprietorship: Easy to create form a legal perspective, inexpensive to create, subject to few governmental regulations Partnership: Low cost and easy to form, income is taxed as personal and not corporate. Corporation: Corporations have unlimited life, easy to transfer ownership, owners have limited liability. Disadvantages of proprietorship and partnership: Selling interest is difficult, owners have unlimited liability, the life of the business is limited to the life of the owners, restricted to small business status. Disadvantages of Corporations: Double taxation, time consuming and costly to set-up the corporation and file periodic reports. 2.2 Differences: Investor owned vs. not for profit: Investor owned: Individulas become owners when they purchase shares of common stock, shares can be either publicly held or privately held, stockholders have the right of control, a claim to residula earnings, and a claim on liquidation proceeds. Not-for-profit corporations: are tax exempt, run exclusively for the public - profits are not used for private gain, no single body...
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...Nursing Home Administrator Nicole Hejl University of Phoenix Axia HCS/320 Erin Being a nursing home administrator with in a nursing home, excellent communication is a necessity. Communication is how care providers determine the quality of care that is given and needed for the patients. By being a nursing home administrator, it is my job to make sure that the HIPPA rules and regulations are being used by all employees. By making sure that HIPPA rules and regulations are being upheld, the nursing home is providing quality care to the patients. When a change happens at a nursing home there can be confusion and conflict with everyone involved. While following the chain of command can be long and even boring, it is needed to keep the communication process smooth and effective. The chain of command does help reduce the risk of a communication breakdown. If a communication breakdown is developed it can cause commotion in any health care facility which could jeopardize everyone involved. With being the nursing home administrator, the first job that I would need to do is have a full understanding of the new policies and procedures. I would need to know how the policies and procedures were put into place and how exactly this will affect the patient’s in the nursing home. In order to do this I would want to speak with the board members so my concerns could be addressed. In order to address these issues I could meet with the board members face to face, use social media, or by electronic...
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...Explain how the patient Bill of Rights applies to this case: According to [ (The American Cancer Society) ], the patient bill of rights seeks “to help patients feel more confident in the US health care system. The Bill of Rights: assures that the health care system is fair and it works to meet patients' needs, gives patients a way to address any problems they may have, encourage patients to take an active role in staying or getting healthy, stress the importance of a strong relationship between patients and their health care providers, to stress the key role patients play in staying healthy by laying out rights and responsibilities for all patients and health care providers.” The essential goal is to let patients know the treatment options proposed by the medical professional tending to them so that the patient can consent to treatment that they feel is right for them. Under the bill of rights, patients the right to talk privately with health care providers and to have your health care information protected. According to [ (The AGS Foundation for Health in Aging) ], “Except under extraordinary circumstances, you have the legal right to make decisions about your body and your medical care. Ideally, these decisions should be made by capable, informed patients after discussion with their physicians and other health care providers.” Identify and explain at least three ethical considerations: The ethical considerations are that the Nurse Nancy is taking it upon herself to give...
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...Nursing Home Administrator HCS/320 Nursing Home Administrator Excellent communication within a health care faculty is essential! It is the communication exchange among staff members which determines the quality of care given to the patient’s. As a nursing home administrator my duties are to ensure the HIPPA rules and regulations are being upheld by members of the health care. By ensuring that HIPPA rules and regulations are upheld the health care faculty is ultimately providing the patient’s with quality care. Change within a nursing home can bring about much unwanted conflict and confusion among all parties involved. Following the chain of command can be a tedious task, there are many T’s that need to cross and I’s that need to dotted to ensure that the communications process is running smoothly and effectively, which in-turn reduces the risk of a communication breakdown. Developing a communication breakdown can much turmoil within a health care faulty ultimately jeopardizing all parties involved in the communication cycle. As the nursing home administrator my first line of duty is to get a clear understanding of the new policies and procedures being put in place and exactly how they will affect the patience’s in the nursing home. To accomplish this task I must address the new broad members with my concerns. Some of the methods I can use to address these concerns are through a traditional meeting, electronic communication, and...
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...RTT1 Task 3 Juanita Mortensen Western Governors University RTT1 Task 3 A1. Country comparison The healthcare systems of Switzerland and the United States are quite similar in some aspects and vastly different in others. In Switzerland, the healthcare is universal and available to all. It is provided by private individual insurance companies and subsidized by the government when needed. Basic health insurance is required to be purchased within 3 months of residency or after birth and is an individual’s choice as to what carrier they choose. Of course, there are exceptions to this mandate but they are very few.("Healthcare in Switzerland," “n.d.”, para. 1) Because of this requirement, 99.5% of the population in Switzerland has healthcare coverage.(Roy, 2011, para. 13) The basic health insurance is purchased by the consumer with the option of purchasing supplemental plans to the basic health plan. The supplemental plans are how the insurance companies make a profit.("Healthcare in Switzerland," “n.d.”, para. 12) A few commodities that are covered by the basic health plan are: outpatient and emergency treatment, medications that are on an official government list, maternity care including childbirth, and abortions up to 12weeks gestation. The supplemental plans have a wide range with some consisting of private or semi-private beds, dental care, and eye care.("The Swiss Healthcare System," “n.d.”, para. 7 & ll) The price and benefits of medical treatment, hospitalizations...
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...If I were the CMO of P&G, India * Company Background The Procter and Gamble company is the world’s largest and most profitable fast moving consumer goods company headquartered in downtown Cincinnati, Ohio, US. In 2012, we have recorded $64billion in net sales and $10billion in net income. Out of the 50 leadership brands that are most common and powerful household names, 25 brands are our Billion dollar brands, each generating more than $1 billion in annual sales. * P&G and Indian Market Summary Out of the 3 subsidiaries of P&G in India, two are listed. They are Procter and Gamble Hygiene and Health Care Ltd. and Gillette India. The other one is no listed and is a 100% subsidiary of US parent Procter and Gamble Home Products. The brands touching people’s life everyday with a pledge to make it better are Vicks, Ariel, Tide, Whisper, Olay, Gillette, Ambipur, Pampers, Pantene, Oral-B, Head and Shoulders, Wella and Duracell. India plays a pivotal role in FMCG market share due to several reasons. * It’s GDP(PPP) is the third highest in the world. * It houses one of the largest growing population of the world. * Rising disposable income at hand. Therefore, our market research should be thourough, our strategies impeccable and our implementation methodical. * Current Indian market scenario 38% of the total P&G sales comes from the Developing countries while India has one of the smallest market with $1 billion sales. P&G has been...
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...the face of an emergency situation we are seeking to plan for restoration of business services as quickly as possible and transfer operations to other facilities in our hospital system as needed. We have reviewed some possible emergency scenarios and developed a business contingency plan to encompass all aspects of disaster recovery, including clean up from the emergency, communication with the public and our associates, emergency medical care for anyone that needs it, restoration of normal patient care operations and temporary transfer of operations and procedures as necessary. The Compass Park Hospital network is a healthcare network comprised of five full service hospitals and numerous surgery centers and clinic. In addition to helathcare facilities they also operate patient transportation services (EMS vehicles and non-emergency patient transportation) and a home medical equipment supply company. The Compass Park Hospital Network has hired an independent contract service to analyse the structural stability of each of their facilities and requested improvements to any facility that they are leasing from the landlord. They have reviewed the report and begun to make multiple safety improvements throughout the facilities that they own. They have made sure that all walkways are safe and free of structural obstructions such as damages sidewalks and flooring. They have also ordered newly designed railing for patient care areas of the hospitals to assist patient that are having...
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...|The Case For Single Payer, Universal Health Care For The United States | | | | | | | | | |Nicole Jones | |April 2011 | |HS 544 Health Policy and Economics | |Fowler | | | Table Of Contents Page Section 1: Executive Summary …………………………………………….. 3 Section 2: Introduction …………………………………………….. 4 Section 3: Literature Review ……………………………………………… 5 Section 4: Problem Analysis ……………………………………………… 10 Section 5: Solutions and Implementations ………………………………………… 17 Section 6: Justification ……………………………………………… 18 Section 7: References ……………………………………………… 20 Executive Summary Almost four decades ago, Canada and the United States had very similar health care systems. Today, they are very different. The...
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...GlaxoSmithKline company profile Francis Weyzig Amsterdam, October 2004 Summary Business description GlaxoSmithKline (GSK) is one of the world’s largest research-based pharmaceutical corporations that discovers, develops, manufactures and markets branded human health products. Headquarters: UK, with additional operational headquarters in the USA Global presence: about 160 countries Primary markets: USA, France, Germany, UK, Italy and Japan Employees: approximately 103,000 GSK key figures for 2003 (in £ million) Sales 21,441 Materials and production costs 4,188 Marketing and administration 7,563 R&D expenditures 2,770 Operating income 6,920 Net profit 4,765 GSK has two main business divisions, pharmaceuticals and consumer healthcare. This profile deals with the pharmaceuticals division, which generates 85% of GSK’s sales. The five largest selling GSK products are Seretide/Advair for asthma and Chronic Obstructive Pulmonary Disease (COPD); Paxil/Seroxat and Wellbutrin, both antidepression drugs; Avandia/Avadamet for type 2 diabetes; and the antibiotic Augmentin. Each of these drugs generated above £800 million of sales in 2003. GSK produces a broad range of products of special importance to developing countries, including: Anti-malaria drugs Zentel (albendazole), for de-worming and the prevention of lymphatic filariasis Pentosam, against leishmaniasis Anti-retrovirals (ARVs) for the treatment of HIV/AIDS Tuberculosis drugs Vaccines for developing countries Corporate...
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...The Continuing Evolution of the Pharmaceutical Industry: Career Challenges and Opportunities December 2007 Michael Steiner, CFP®, CPA David H. Bugen, CFP®, MBA Brian Kazanchy, CFP®, CFA, MBA William T. Knox IV, CFP®, CFA, JD Margaret V. Prentice, MBA Lauren Goldfarb Mark P. Hurley Steven E. Cortez Christine L. Boudreaux Benjamin J. Robins Yvonne N. Kanner Shehzad Sippy Adam L. Bartkoski Ana M. Avila RegentAtlantic Capital, LLC Michael Steiner is a Wealth Manager and Principal with RegentAtlantic Capital, LLC, and head of the firm’s Pharmaceutical Executive Services Group (PESG). David H. Bugen is a Wealth Manager and Principal, and Brian Kazanchy is a Wealth Manager. William T. Knox IV is a Wealth Manager and Principal. Margaret V. Prentice is the Chief Marketing Officer and Principal, and Lauren Goldfarb is the Business Development Coordinator. Fiduciary Network, LLC Mark P. Hurley is President and CEO of Fiduciary Network, LLC. Steven E. Cortez is Executive Vice President. Christine L. Boudreaux is Director of Adviser Communications, and Benjamin J. Robins is General Counsel. Yvonne N. Kanner is Executive Vice President and COO, and Shehzad Sippy is a Research Analyst. Adam L. Bartkoski is Director of Adviser Operations and Development, and Ana M. Avila is an Intern. © Copyright Fiduciary Network, LLC, 2007 This material is for your private information, and we are not soliciting any action based upon it. Opinions expressed are our current views only, at the...
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