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Unit 16 > Current Trends in Healthcare > Flashcards

Current Trends in Healthcare Flashcards

1
Q

Name the three things economic is a study of

A

how goods and services are distributed

how many types of services and goods are produced & consumed

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2
Q

typical economic market how is price set?

A

supply and demand and the value the consumer attaches to it

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3
Q

in healthcare how is price set?

A

by third party, not the person consuming it therefore payment is NOT generally tied to value being delivered

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4
Q

in a typical economic market, the price a buyer is willing to pay is determined by _____

A

value

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5
Q

the national economy influences quality of life through what?

A

macroeconomic policies

  • monetary policy influencing the supply of money and the interest rate
  • fiscal policy influencing taxes and government spending
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6
Q

name all the parts of this equation

GDP = C + I + G + (X-M)

A

GDP = consumption + investment + government spending + (exports - imports)

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7
Q

_____ is the monetary measure of the value of all final goods and services produced in a period

A

GDP

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8
Q

analysis of the effects of macroeconomic policies on individual industries like healthcare or hospitals

A

microeconomics

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9
Q

helps predict how markets will respond to macroeconomic policy and other influences

A

microeconomics

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10
Q

micro vs. macroeconomics

A

micro: individual industries
macro: national economy influences

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11
Q

the value or cost of choosing one product over another

A

opportunity cost

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12
Q

measure of satisfaction an individual gets from the consumption of comodity

A

utility

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13
Q

the ability of a seller to make the good or service more efficiently than another; can lead to specialization

A

comparative advantage

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14
Q

too many demands (wants) with limited supply

A

scarcity

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15
Q

the gains and losses of production of any goods is called what

A

economic cost

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16
Q

what is something you want to keep in mind if you want to operate at a positive economic cost?

A

opportunity cost: value of choosing one product over another (surgery vs. opioid)

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17
Q

______ _______ gives the ability for a seller to have less cost in production

A

comparative advantage

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18
Q

what is a good example of comparative advantage

A

technology: minimally invasive surgeries being less expensive.

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19
Q

availability of a good or service in a given economy is what

A

supply

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20
Q

needs and wants for a good or service in a given economy is what

A

demand

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21
Q

where supply meets demand is what? what does this have to with price in a perfect market

A

break even point: this is where the price will be set

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22
Q

in a perfect market there is a shift in ____ or ____ to change the price

A

supply or demand

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23
Q

healthcare scarcity is geographical and related to what?

A

uneven allocation of resources (insurance)

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24
Q

policies made on the macro or micro economic level are made to resolve scarcity issues in healthcare

A

macro

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25
Q

explain healthcare scarcity in the middle of a city

A

rural areas will have high demand and not enough supply

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26
Q

having more supply than demand

A

surplus (can be customer or producer surplus)

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27
Q

______ relationships involve consumers, producers, and payers and a subject is not evaluated in isolation

A

economic relationships

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28
Q

price has less influence on demand in healthcare, why?

A

the relationship btwn the buyer and seller is indirect

29
Q

why is value based care in healthcare not the way price is set?

A

it is difficult for the consumer to judge the technical quality of the goods and services they recieve

30
Q

true or false: in healthcare payment is generally tied to the value of the product being delivered

A

false! third party payers (insurance) so consumers don’t really get to weigh in on the value of it

31
Q

two things that are characteristics of demand in healthcare

A

irregular

modulated by type of health insurance or lack there of

32
Q 
price
time
income
quality 
health status 
education
age 
insurance

are all factors of what

A

factors affecting demand

33
Q

supply in healthcare has what kind of services? We know it is variable depending on insurance coverage, geographical area etc, but as far as reaching the customer

A

direct and indirect services

direct: doctors, hospitals
indirect: pharmaceuticals, electricity for operations etc/

34
Q

value = ________/ _______

A

value = outcomes/cost

35
Q

value is measured how?

A

outcomes achieved rather than the volume of services; this is the shift towards value based services.

36
Q

economic evaluation method that measures the cost of a program or intervention and its effectiveness

A

cost effective analysis

37
Q

CEA stands for what?

A

cost effective analysis

38
Q

trend of opioids sold

A

still increasing although no change in the amount of pain americans report

39
Q

the greatest indirect costs of opioid crisis

A

lost earnings and productivity from overdose death

40
Q

overdose related healthcare costs since 2014

A

risen because medicare expanded. So deaths are less but costs are more

41
Q

which direction is the cost of the opioid epidemic strending

A

up! still on the rise!

42
Q

cost of the opioid epidemic places the largest burden on what kind of plans

A

individual private sectors: younger population

43
Q

in general, the demand for PT is going which direction?

A

up

44
Q

medical tourisms on the rise or fall?

A

rise: effectiveness and value of other countries is greater than USA

45
Q

is telehealth on the rise or fall?

A

rise! 51% of respondents identified telemedicine as a top priority at their organization

46
Q

telehealth related to supply or demand?

A

both!

47
Q

is telehealth reimbursable for PT?

A

no!

48
Q

for healthcare in general is reimbursement for telehealth inclining or declining?

A

inclining

33% growth in medicare claims

28% increase in medicare payments

49
Q

where is competition for medical supplies coming from

A

amazon

50
Q

we’re trying to decrease the growth rate of spending, is it working?

A

no there is a predicted 5.4% growth rate on how much we’re spending

51
Q

direct reimbursement pressure is referring to what

A

high deductible plans: giving more of the cost to employer and the actual consumer

52
Q

OP volumes increasing or decreasing?

A

increasing! Overall the growth factor is much higher in OP than IP

53
Q

inpatient volumes toward what pt population?

A

neurosurgery

54
Q

what kind of inpatient services are decreasing drastically?

A

cardiac!

55
Q

orthopedic services are shifting IP or OP?

A

OP

56
Q

what is happening to SNF and inpatient rehab setings?

A

decreasing, everything is shifting to OP

57
Q

technology trend

A

increasing duh

58
Q

retail clinic trending?

A

upwards!

59
Q

emergency care trend?

A

out of ED and into minute clinic/urgent care center

60
Q

urgent care is now being used more as what kind of care?

A

primary care than primary care physicians

61
Q

employer based insurance programs, what shift is happening here and what is the cost to the consumer?

A

high deductible plans

this really shifts the cost to the employees/customer rather than the insurance

62
Q

what happened with premiums and deductibles?

A

lower premiums (paying for plan)

higher deductibles

63
Q

employers continue to offer what kind of plans?

A

high deductible health plans (HDHP)

64
Q

increase or decrease in the demand for healthcare?

A

increase due to baby boomers

BUT

decrease due to large out of pocket expenses leading to deferral of care across services

65
Q

explain seasonality shift

A

reaching OOP maximums at end of year

66
Q

Trend in collections

A

reduced because of pts inability to pay OOP

67
Q

increase or decrease of shopping around by patients

A

increase! price comparisons, shifting preferences to lower priced providers etc. patients get better value in OP (hospitals have a ton of overhead)

68
Q

network plans are expanding or narrowing?

A

narrowing! only able to go to certain facilities (consumers can also vy for being reimbursed for where they would like to go; out of network authorizations can happen but it takes a lot of leg work)

Unit 16 (8 decks)

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