Suppose that one course of treatment costs $500,000. If given to patient A, it will increase life expectancy by one month; for patient B, by two months; for patient C, by three months; and for patient D, by four months. The marginal cost per additional year of life for the patient most likely to benefit is and the marginal cost per additional year of life for the patient least likely to benefit is $500,000; $2 million $1.5 million; $6 million $200,000; $500,000 $2 million; $500,000 $6 million; $1.5 million 0000
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- Question 11 Assume that a "bundle" of health care goods is indexed to $100 in 1950, and a "bundle" of all goods is also indexed to $100 in 1950. Furthermore, assume that the medical care consumer price index (CPI) grows at 6% per year, while the general CPI grows at 4.2% per year. After 5 years, approximately how much does does the bundle of health care goods cost? $130 $100 1/1 pts $134 $123improvement in technology usually result in lower cost of production or new and improved consumer goods and services .Assume that an improvement in medical technolgy result in an increase in life expectancy for people 65 years and older . How would this technolgical advance be likely to affect expenditure on health care?Suppose that a course of chemotherapy costs $100,000. If given to patient A, it will increase life expectancy by one month; for patient B, by six months; for patient C, by two month; for patient D, by five months; and for patient E, by four months. The marginal cost per additional year of life for the patient most likely to benefit is and the marginal cost per additional year of life for the patient least likely to benefit is $100,000; $100,000 $100,000; $1,200,000 $200,000; $100,000 $200,000; $1,200,000
- 4 discuss the importance of comparing the best alternatives in economics for health care managersdiscuss the dominant cost components of health care.Weigh the pros and cons. How would changing Medicaid financing to a block grant or per capita cap be an advantage or disadvantage for millions of low-income children and adult participants?
- What are some financial impact that COVID made in the health care industry?There are many ways to define and measure the benefits and costs that go into the GPI. How do you think a person with a biocentric worldview would measure these differently from a person with an anthropocentric worldview? Whose GPI for the year 2005 would likely be higher?For 11-18: GIVEN TREATMEN T CHOICES Treatment COST LIFE Treatment D $15,000 31 Treatment $17,000 29 W no treatment EXPECTANCY Treatment B $7,000 18 Treatment C $11,000 26 Treatment Y $9,000 19 Treatment X $13,000 23 Treatment A $3,000 10 Treatment Z $5,000 16 $0 2 11. Which of the following is true? A) X OD C B) W is OD by C C) COD W D) W is OD by D B) X only C) X and W D) W only years years years years years years years years years E) all the choices are true 12. Identify all the obviously dominated treatments A) A and Z 13. Name all the obviously DOMINATING treatments. (only the treatments that obviously dominate other treatment(s) A) Y and B B) X and W C) C only D) C and D E) A,Z,B,Y,Z,D: all these treatments that are not obviously dominated, obviously dominate some treatment
- Preventive care is not always cost-effective. Suppose that it costs $100 per person to administer a screening exam for a particular disease. Also suppose that if the screening exam finds the disease, the early detection given by the exam will avert $1,000 of costly future treatment. a. Imagine giving the screening test to 100 people. How much will it cost to give those 100 tests? Imagine a case in which 15 percent of those receiving the screening exam test positive. How much in future costly treatments will be averted? How much is saved by setting up a screening system? b. Imagine that everything is the same as in part a except that now only 5 percent of those receiving the screening exam test positive. In this case, how much in future costly treatments will be averted? How much is lost by setting up a screening system?Given the future and developments in health, are the benefits more significant than the costs that in bring to society? Why and How?Approximately __________ million Americans are without health insurance.