Economics 2 Economic Issues Simulation Paper People understand that insurance is important, which is why they use it to assure coverage of the risks in the future. Minimizing these risks becomes easier with the purchase of insurance. A good example can be a person purchasing insurance for the sake of having something to fall back on during a major loss. This allows for the person to be confident of having a normal premium. Many companies have insurance to be a form of profit, which is rather ironic. Insurance can be full of profit. The premium gained out of the probability from one loss can bring on a high possibility of the same event occurring. Castor Collins Health Plans Insurance is meant to allow consumers to pay regularly for preparation in the case of risks or losses. Two plans are available to the Caster Collins clients. The first plan, the standard plan, does not cover prior conditions. The second plan, the Castor enhanced plan, offers coverage for the client’s prior conditions. Helen Feuerman, chief financial officer at Castor Collins, brought on changes to the strategy in hopes of bringing in more profit. The change is known as the Castor enhanced minor. With this new program, any service with high utilization no longer existed. The excitement level coming from Castor Collins is unpredictable. People want to learn how the new policies within the company will bring on more profit while lowering the overall costs of the company. The premium and benefits of the policy are the major things that attract consumers. With this being the case, it can be found important to understand the company’s measurement on these factors. Changes in premium will highly impact the amount of customers that the company has. Making the premiums higher will lower the amount of customers knowing that many people will not agree to the importance of higher priced health plans. The company also faces consequences
HCS/440 Week 3
Everything listed for Week 3 is Included in Purchase!
Learning Team:Funding Health Care Services
Includes Option #1: 1,508 words! A+ work!
Includes Option #2: 1,817 words! A+ work!
Includes Option #3: 1,490 words! A+ work!
Includes Option #4: 1,149 words! A+ work!
Research health care services (e.g., preventive screenings and preventive services, wellness programs, diet/food and nutritional services, and long-term care services) offered by non-profit and forprofit health care facilities.
Write a 1,050- to 1,250-word paper that addresses the following:
• Analyze the historic trend of the sources of revenue of the health care services.
• Address the types of new services hospitals and providers have added or put an
increased focus on in the past two decades to increase their overall revenue.
• Analyze the billing and reimbursement processes of health care services.
• Explain how the triangular relationship between patient, insurance company payer, and
the health care provider is different than a business transaction in other industries. How
does this affect how much and how long it takes for a health care provider to be
• Explain the economic impact of non-profit vs. for-profit health care services.
• Explain the advantages and disadvantages of being a non-profit health care facility
compared to one that is operated for profit.
Format your paper according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
Benchmark Assignment—The Demand of Health Care Services
Workshop Proposal Part l
Includes Option #1: 1,702 words! A+ work!
Includes Option #2: 1,333 words! A+ work!
Includes Option #3: 1,205 words! A+ work!
Includes Option #4: 1,435 words! A+ work!
Imagine you have been asked to deliver a two-part informative workshop at a local health care expo by your Director of Community Outreach. Before he approves your workshop, you have to submit a proposal for each workshop that thoroughly discusses the content you
would like to present. The first half of the workshop will inform the expo attendees of the demand of health care services as well as the cost of the services, expenditure to the health care industry, and payment sources used by the health care industry. It is important that
consumers are aware of these concepts as they consider available health care services; therefore, you will want emphasize how the information you are sharing makes them better consumers.
Proposal Part l
Write a 1,050- to 1,400-word paper in which you present the content you would like to discuss in the workshop to help increase overall consumer awareness regarding health care services.
Include the following in your paper:
• Analyze the demand for health care services.
• How does the demand for health care services differ from other consumer purchases?
• What are the relationships between:
• Changes in the cost of treatment or medicines and the demand for health care
• Consumer/patient need and the demand for health care services?
• How do changes in the behaviors of the consumers increase and/or decrease the
demand for health care services?
• Why is it important for consumers to understand the demand for health services?
• Analyze the cost structure for the delivery of health care services.
• How do different markets (large city vs. rural area) affect the cost of health care
• What impact do specialized services (e.g., cancer or orthopedic centers) have on health
• How do specialized service centers differ from traditional hospitals?
• How are the objectives different for a for-profit vs. a non-profit health care organization?
• Why is it important for consumers to understand the cost structure for the delivery of
health care services?
• Analyze the major sources of health care spending.
• How has the trend of health care costs regarding the overall economy changed over
the past several decades?
• What impact does technology have on health care costs?
• Why is it important for consumers to know the major sources of health care spending?
• Analyze the various payment sources and mechanisms in the health care industry.
• What sources are used to pay the costs of health care services other than self-pay and
private health insurance?
• What impact does the government have on payment sources for health care services?
• Why is it important for consumers to know the payment sources for health care services?
Cite four textbook, peer-reviewed, scholarly, or similar references to support the assignment.
Format your assignment according to APA guidelines.
Click the Assignment Files tab to submit your assignment.