Case study: Pricing Decisions

/in /by

Chapter 1 Case study: Pricing Decisions.This chapter introduces usto the concept of elasticity, or more particularly, point elasticity of demand, as it applies to health care.Therefore, I would like to explore a small, quantitative exercise that introduces us to how a point elasticity of demand is estimated to help a medical service provider make an economic decision. Because elasticity is such an important concept in economics, we will explore it and related concepts in greater detail in later chapters.More detailed directionsand comments:Here is more on the case study: Pricing Decisions. Consider ananesthesiology group that provides medical services to local hospitals in a metropolitan area and also a rural part of TN. The director of this group is considering price increases foranesthesia services forboth of these areas. Assumefor this example that this group has some degree of pricing power,implying and that thismarket structure can be characterized by imperfect competition (remember that perfect competition implies no pricing power, making those firms “price-takers.”)Although pricing decisions don’t always translate to consumers for a medical procedure involving anesthesia, assume for this example that hospitals have discretion in their ability to react to price changes.To help the director make her decision, she obtains sample market data on their customers about its market and whether or not this program will increase its revenues. Using the data provided in the excel file entitled Chap 1 Econ of Health Case Study Elast (Student). As part of preparing for this case study, you may want to review the tutorial videos and tutorial journals on regression entitled Intro to Regression video for the Econ of Healthcare and anextension tutorial journal (not a video) entitledIntro to Regression video part 2, which includes an example using excel. Finally, a the tutorial video made explicitly for this case study entitled Chap 1 Econ of Health Case Study Elast. is available also.

What is the taxpayer’s gross income in each of the following situations?

/in /by

Part 1: What is the taxpayer’s gross income in each of the following situations?

1.Darrin received a salary of $50,000 in 2013 from his employer, Green Construction.

2.In July 2013, Green gave Darrin an all-expense-paid trip to Las Vegas (value of $3,000) for exceeding his sales quota.

3.Megan received $10,000 from her employer to help her pay medical expenses not covered by insurance.

4.Blake received $15,000 from his deceased wife’s employer “to help him in his time of greatest need.”

5.Clint collected $50,000 as the beneficiary of a group term life insurance policy when his wife died. The premiums on the policy were paid by his deceased wife’s employer.

6.Peggy won $4000 in the state lottery.

Part 2: Determine the effect of the scholarship on gross income of Sally (for question 1) and then determine the effect of the scholarship payments on the gross income of Willy (for question 2).

Sally was an all-state soccer player during her junior and senior years in high school. She accepted an athletic scholarship from State University. The scholarship provided the following:

1.Tuition and fees $15,000

2.Housing and meals 6,000

3.Books and supplies 1,500

4.Transportation 1,200

Sally’s brother, Willy, was not a gifted athlete, but he received the following:

1.$8,000 from their father’s employer as a scholarship during the year. The employer grants the children of all executives a scholarship equal to one-half of annual tuition, fees, books, and supplies.

2.Willy also received a $6,000 scholarship (to be used for tuition) as the winner of an essay contest related to bioengineering, his intended field of study.

Requirements:

Clearly identify the requirements being addressed. Show all calculations within the cells of the provided Excel spreadsheet. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well. No hard coding of solutions. Submit a single MS Excel file for grading.

What details did the patient provide regarding her personal and medical history?

/in /by

Select a patient that you examined during the last three weeks. With this patient in mind, address the following in a SOAP Note:

  • Subjective: What details did the patient provide regarding her personal and medical history?
  • Objective: What observations did you make during the physical assessment?
  • Assessment: What were your differential diagnoses? Provide a minimum of three possible diagnoses. List them from highest priority to lowest priority. What was your primary diagnosis and why?
  • Plan: What was your plan for diagnostics and primary diagnosis? What was your plan for treatment and management, including alternative therapies? Include pharmacologic and nonpharmacologic treatments, alternative therapies, and follow-up parameters, as well as a rationale for this treatment and management plan.
  • Reflection notes: What would you do differently in a similar patient evaluation?

What was your plan for diagnostics and primary diagnosis? What was your plan for treatment and management including alternative therapies?

/in /by

Select a patient that you examined during the last 3 weeks. With this patient in mind, address the following in a SOAP Note: Subjective: What details did the patient provide regarding his or her personal and medical history? Objective: What observations did you make during the physical assessment? Assessment: What were your differential diagnoses? Provide a minimum of three possible diagnoses. List them from highest priority to lowest priority. What was your primary diagnosis and why? Plan: What was your plan for diagnostics and primary diagnosis? What was your plan for treatment and management including alternative therapies? Reflection notes: What would you do differently in a similar patient evaluation?