Most hospitals and nursing homes, and some insurance companies, do not aim to maximize profit but aim instead to maximize other more altruistic goals such as the number of covered lives. Group of answer choices True False

Q: A clinic uses doctors and nurses optimally and is servicing the maximum number of patients given a…

A: Answer- Given in the question- A clinic uses doctors and nurses optimally and is servicing the…

Q: Ranells is a company that offers one-fifth or more ownership in a cruise ship for a price beginning…

A: The answer is - Option 3. High involvement purchase that involves extended problem solving.

Q: Which problem is not an issue in a universal public insurance Moral hazard Adverse…

A: Answer is none of the above. Reason:moral hazard is issue as there is assymetric information…

Q: A way to help overcome adverse selection is to ...    require a deductible be paid before benefits…

A: Adverse selection refers to the situation when one of the parties has relatively more information…

Q: Besides the common practice of charging copayments, health insurers have no successful strategies…

A: Moral hazard refers to the risk associated with one part facing problems due to misleading…

Q: Economically, price refers to a dollar value but not time taken sitting in the health clinics…

A: In economics, price is the term that is used to show the monetary value of any good or services at…

Q: Identify the FALSE statement: Players will only cooperate if they know when a game will end. A…

A:

Q: Which primary care physician compensation scheme from the list below will lead to the highest level…

A: When talking about health insurance, it can be said that their are different types of plan for…

Q: Indicate whether each statement is true or false, and justify your answer.Insurance mandates do…

A: False, because mandates are legal requirement and that everyone in a population buy an insurance…

Q: Asymmetric information can lead to adverse selection which means: a. Only a specific subset of a…

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: Indicate whether each statement is true or false, and justify your answer.There is no such thing as…

A: The given statement is false.

Q: Given one procedure or service provided by certain hospital, all different payers would be charged…

A: In the healthcare system, the price of any service or procedure is determined y the demand and…

Q: In order to remain competitive, insurance companies must successfully address:     A. Adverse…

A: Moral Hazard refers to undesirable change in behaviour of person as he knows that their risk is…

Q: Health systems focused on insurance markets. promoting equity typically have purely private True…

A: The correct answer is given in the second step .

Q: elect three services ?one high in search attribute,one high in experience attribute,and one high in…

A: Goods are described as items or commodities that can be seen, felt, or touched i.e tangible, and are…

Q: Assume a pool of 10 people in an insurance pool (a group of people insured through community…

A: Given data, Number of Insured Anticipated Heath Costs/Year/Person 3 $1,400 2 $1,500 3…

Q: In order to remain competitive, insurance companies must successfully address:     A. Adverse…

A: Adverse selection refers to th situation where one party know more information than the other party…

Q: In Bismarck systems, patients are charged premiums based on their risk rating. True False

A: The Bismarck Model is a limited health-care system in which patients pay a fee to a fund, which then…

Q: rue or False (Justify your answer briefly) (a) Potential outcomes are never observed. (b) Let Y0i…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: True or False. There is no such thing as “too much competition” in the private hospital market. Be…

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: Indicate whether each statement is true or false, and justify your answer.Cost-sharing is used to…

A: In this case, the cost – sharing like deductibles and coinsurance are controls moral hazard in a way…

Q: Indicate whether the statement is true, false, or unclear, and justify your answer.Moral hazard is…

A: False, because moral hazard can occurs in any insurance contract, even exterior the perspective of…

Q: allowing healthcare to practice at the top of their licenses would... A:  - increase barriers to…

A: In the healthcare sector government provides licences to the healthcare providers because this…

Q: Suppose there are three types of used cars that consumers are willing to purchase: “Good”; “OK”; and…

A: It is given that the buyers are willing to pay $10,000 for a good car, $7,000 for an OK car and…

Q: The discount for an automobile anti-theft mechanism installed in a motor vehicle insured for…

A: An insurance market is one where buyers and suppliers have n incentive to make negotiations based on…

Q: The primary purpose of he Coordinalion of Benefits provision found in most group Major Medical…

A: Coordination of benefits is an arrangement in the insurance agreement that applies when an…

Q: Indicate whether the statement is true or false, and justify your answer.In an actuarially fair…

A: The given statement is true.

Q: may arise. This is when _____.    A. Bismarck; insurers seek out healthy customers.  B. Beveridge;…

A: The Bismarck and beveridge are two popular health care systems where the two different methods of…

Q: analyze and critique the article below and identify what Ethical Principles had been violated in the…

A: Ethical Principles: Ethics is extremely critical in the realm of business. It is the investigation…

Q: Emergency Medicine plays a vital role in the health care continuum across the world. Michael…

A: In 1980, Michael Porter introduced a model of competitive strategy to explain an industry’s position…

Q: Hospital has the following treatment options to reduce the incidence of Ventilator-Associated…

A: Hospital has the following treatment options to reduce the incidence of Ventilator-Associated…

Q: 1.Surveys of income and wealth frequently do not release the top values in a distribution in order…

A: Maintaining the anonymity of the citizens is an important factor to be considered while surveying.…

Q: Individuals will prefer to fully insure against a potential adverse event if A. individuals are…

A: In a market, people have individual differences and different behaviour to make an exchange based on…

Q: Define the characteristics of a vulnerable consumer. Considering ethics, should there be greater…

A: Ans. A vulnerable consumer is one who is yielded readily to damage or loss due to his/her financial,…

Q: If the insurance premium rate is 10%, the accident rate (probability of a loss) is 10%, the amount…

A: Meaning of Risk-Averse: The term risk-averse is that situation under which the investor takes…

Q: Whcih of the following could help overcome the problem of adverse selection in the used car market?…

A: The answer is - The government could enact disclosure laws requiring that potential buyers be told…

Q: The difference between retrospective versus prospective reimbursement is that:   a. Prospective…

A: Retrospective Payment Framework A framework wherein repayment is made to the supplier dependent on a…

Q: Which one is an option for health insurance market     Universal public insurance     Compulsory…

A: Health insurance- It covers the medical and surgical expenses of the individual who is insured.

Q: It was felt that liability insurance would undermine the tort system, which has as its central…

A: Liability insurance:- The word "liability insurance" denotes to such an insurance policy which…

Q: Viable organs, while scarce, are readily accessible to extremely wealthy patients for a high price.…

A: viable organs, while scarce, are readily accessible to extremely well the patients for a high price.…

Q: High deductible plans in the U.S. reduce adverse selection.

A: Adverse selection occurs when one party has more information than the other in case of a…

Q: Which of the following would help an insurance company to overcome the adverse selectic problem?…

A: Adverse selection is the situation in which sellers have more information than that of the buyers.

Q: Which two phenomena relate to physicians overprescribing treatment? Select 2 correct answer(s)…

A: In the healthcare sector, overprescribing treatment refers to the situation when physician recommend…

Q: The purpose of the coordination of benefit clause found in group policies is to:    A: promote over…

A: The Coordination of Benefits (COB) clause in group policies is included to eliminate duplication of…

Q: Which type of coverage has the highest number of enrollees in US: Medicare Medicaid…

A: The employer-sponsored health insurance is the insurance provided by the employer which involves the…

Q: As it applies to insurance, the adverse selection problem is the tendency for:        those most…

A: Asymmetric information refers to the phenomenon in which one of the two, or more parties involved in…

Q: Which best describes workers’ compensation insurance?     It is federally mandated but administered…

A: Workers' compensation, or "workers comp," is a government-mandated programme that pays benefits to…