Lec 5 Flashcards
What is cost in economic term?
The health services activity impose patients and their families and other agencies
What’s the fixed cost?
The cost of production do not vary in time or the size of the production such as:
-the cost of building
-the benefits
-the fixed carde
-and the workers salaries
What is the variable cost?
The cost of production that vary in time and the size of production such as :
-supplies
-food
-medications
-paper
There’re 3 types of medical care cost ,mention them:
1- opportunity cost
2-marginal cost
3- friction cost
What’s the opportunity cost?
-the cost of not doing something ,sacrificing something for the benefit of another
-the value of forgone benefit
What’re the implications of opportunity cost?
-optimal service planning
-deciding to do A is deciding not to do B
What are the principles of opportunity cost?
-Whatever we do there’s always a trade offs
-scarcity and the limited resources are the reason
What’s the marginal cost?
The cost of producing one extra unit, in health terms the cost of delivering one extra item of service
What’s the friction cost?
—-The value of production lost due to the time lost during worker replacement and to retrieve the previous level
What’s the quality assessment?
The measurement of actual quality health care
What’s the quality assurance ,control?
The measurement of the quality of health care plus the effort to modify the provision of these services
What’s the macroeconomics?
The country’s entire health care system and the way that perform terms like : efficiency ,profit and loss
Macroeconomics is concerned in a large set of system issues concerning:
-the spending on employment and another health factors as a part of the economy
-biological health status:longevity , fertility and productivity
What’s microeconomic?
How individuals choose ,minimize costs,maximize profit ,wealth , utilities in a given trading system.
What’s the economic policy?
Coarse of actions the intended to influence or control the behavior of an economy
