Healthcare Industry

Question 1

Generally, companies in the healthcare industry make money through the following (3):

Answer 1

1. Products
2. Healthcare Services
3. Health Insurance

Question 2

The healthcare industry consists of different sub-industries such as (5)

Answer 2

1. pharmaceuticals,
2. biotechnology,
3. equipment,
4. facilities, and
5. managed health care.

Question 3

Five (5) mutually reinforcing categories of activities [core activities] that health systems can implement to enhance integration:

Answer 3

1. assistance,
2. adjustment,
3. alignment,
4. advocacy, and
5. awareness.

Question 4

are mainly concerned with improving the provision of individualized care to patients based on data regarding their social risks and conditions that may reduce or eliminate such.

Answer 4

Assistance and Adjustment

Question 5

The roles that the healthcare industry play in influencing and funding social care resources at the community level are related to

Answer 5

Alignment and Advocacy

Question 6

Includes companies that manufacture equipment and supplies, ranging from the basics such as crutches and bandages to advanced equipment like MRI machines.

Answer 6

Healthcare Equipment and Supplies

Question 7

Includes companies that own and operate healthcare facilities– hospitals, rehabilitation centers, nursing homes, and animal shelters.

Answer 7

Healthcare Provider and Services

Question 8

Includes companies that engage in research and development (R&D), as well as analyzing data to innovate current healthcare practices.

Answer 8

Healthcare Technology

Question 9

Includes companies that perform research and development or manufacturing that are generally
derived from living organisms.

Answer 9

Biotechnology

Question 10

Includes companies that develop and produce drugs and vaccines that are generally derived from a chemical basis.

Answer 10

Pharmaceuticals

Question 11

Includes companies that study living things and provide analytical tools, clinical testing services, and general contract research services.

Answer 11

Life Sciences Tools and Services

Question 12

are the individuals who receive the care or the goods and services offered in the healthcare industry.

Answer 12

Patients

Question 13

They refer to healthcare professionals offering medical services

Answer 13

Healthcare providers

Question 14

They conduct diagnosis and treatment of diseases, teaching, research, and training.

Answer 14

Hospitals and other medical centers

Question 15

Offer short- and long-term care services. Short-term care may include rehabilitative care after surgery, illness, or injury, like
physical therapy, occupational therapy, or speech-language therapy. Long-term care, on
the other hand, is offered to the sick, elderly, and disabled.

Answer 15

Nursing homes and rehabilitative centers

Question 16

Physicians and other health professionals who provide
outpatient medical services or non-hospital-based care.

Answer 16

Ambulatory service providers

Question 17

refer to individuals, government agencies, and private companies
who pay for the goods and services offered in the healthcare industry.

Answer 17

Payers or health financiers

Question 18

refers to payments from the government.

Answer 18

Public source

Question 19

is where the government acts as both payer and provider. In this kind of system, the government itself funds and operates a national network of public hospitals that all citizens can access, mostly free of charge.

Answer 19

National health system

Question 20

is where the government covers the bulk of healthcare spending through a public insurance program. Most providers are private as opposed to government-operated but receive payment for services through government insurance.

Answer 20

National health insurance

Question 21

pay providers through claims against insurance policies, which can be employer-funded or purchased directly by individuals.

Answer 21

Private health insurers

Question 22

refers to any costs not covered by the government or private insurance in which patients directly pay to providers.

Answer 22

Out-of-pocket spending

Question 23

involve companies that provide medical supplies such as specialized equipment and pharmaceutical treatments by making drugs and other chemical products. It also includes biotechnology firms that conduct research and development, healthcare technology companies that engage in research and development (R&D), as well as analyzing data to innovate current healthcare practices

Answer 23

Suppliers and pharmaceuticals

Question 24

set standards to regulate and
license health facilities and services such as hospitals, clinics, birthing facilities, laboratories, and other health establishments.

Answer 24

Health Facilities and Services Regulatory Bureau (HFSRB)

Question 25

is responsible in the development of standards for radiation facilities and devices used in medicine, dentistry, veterinary medicine, industry, education, research, anti-crime, military, and consumer applications.

Answer 25

Bureau of Health Devices and Technology (BHDT)

Question 26

is in charge of four major areas: (1) Center for Drug Regulation and Research, (2) Center for Food Regulation and Research, (3) Center for Cosmetics Regulation and Research and (4) Center for Device Regulation,

Answer 26

Food and Drug Administration (FDA)

Question 27

is mandated to develop policies, standards, and guidelines for the practice of various traditional medicine modalities and the manufacture, marketing, and quality control of traditional medicine products.

Answer 27

Philippine Institute of Traditional and Alternative Health Care (PITAHC)

Question 28

are in charge with the provision of Mayors permit to operate and sanitation permit, and establishment of various health ordinances.

Answer 28

Local Government Units (LGUs)

Question 29

administers, implements, and enforces standards for health personnel regulation. It also administers examinations to certify medical professionals and has the capacity to revoke license.

Answer 29

Philippine Regulation Commission (PRC)

Question 30

is in charge with the licensing of health human resource as a requirement in providing a license of health facilities.

Answer 30

Health Human Resource Development Bureau (HHRDB)

Question 31

regulatory mandate is on accreditation of health facilities and professionals and protect the National Health Insurance Program (NHIP).

Answer 31

Philippine Health Insurance Corporation (PhilHealth)

Question 32

administers other certifications that ensures quality healthcare services like the Milk Code implementation, Mother-Baby Friendly initiative, TB DOTS, and Anti-smoking.

Answer 32

Department of Health (DOH)

Question 33

monitors and ensures environmental compliance.

Answer 33

Department of Environment and Natural Resources (DENR)

Question 34

Risks in the Healthcare Industry (4)

Answer 34

1. Human Risk 2. Process Risk 3. Technology Risk 4. Compliance Risk

Question 35

a. Misdiagnosis and prescription errors b. Inadequate follow-up or long-term management c. Handoff miscommunication

Answer 35

Human Risk

Question 36

a. Lack of clinical process guidelines b. Lack of safeguarding policies c. Inadequate patient safety protocols

Answer 36

Process Risk

Question 37

a. Data privacy/security breaches b. Inability to access electronic records c. Data entry and barcoding errors

Answer 37

Technology Risk

Question 38

a. Failure to meet regulatory quality standards b. Non-compliance with waste legislation c. Breaches of medication safety and regulatory controls

Answer 38

Compliance Risk

Question 39

Accounting Standards distinct to the industry

Answer 39

1. Revenue Recognition (IFRS 15) 2. Leases (IFRS 16) 3. Government Grants (IAS 20)

Question 40

This sub-industry provides an efficient production and distribution of drug products that are safe, effective, and affordable which contributes to attaining the goal of the healthcare industry.

Answer 40

Pharmaceuticals

Question 41

This sub-industry aims to develop, manufacture and market novel, patented medicines.

Answer 41

Biotechnology

Question 42

In this sub-industry, companies manufacture healthcare equipment and medical devices such as medical instruments, drug delivery systems, cardiovascular & orthopedic devices and diagnostic equipment.

Answer 42

Equipment

Question 43

This sub-industry comprises health care providers where medicines are delivered to patients and professionals such as doctors practice medicine. Companies offer a variety of health care and social services through hospitals, doctors’ offices, nursing homes, and other facilities.

Answer 43

Facilities

Question 44

This sub-industry is also known as the health insurance industry which aims to reduce the cost of providing health benefits while improving the quality of the services. In the Philippines, there are health maintenance organizations (HMOs) that provide health insurance plans.

Answer 44

Managed Healthcare

Question 45

Recent Developments (Sec A)

Answer 45

1. Telemedicine and Virtual Healthcare Services 2. Wearables and Remote Monitoring Devices 3. Cybersecurity 4. Big Data and Healthcare Analytics 5. Immersive Technologies

Question 46

Recent Developments (Sec B)

Answer 46

1. Slowing down Alzheimer’s 2. Gene therapy for muscular dystrophy 3. mRNA vaccine to treat pancreatic cancer 4. AI aids in detecting breast cancer 5. Neuro Sensor Feedback for Controlling Artificial Limbs 6. Virtual Reality in Surgery

Question 47

This drug removes the amyloid plaques that build up in the brains of people with Alzheimer’s.

Answer 47

Lecanemab (Brand Name: Leqembi)

Question 48

Due to a faulty gene, people with this muscle-wasting disease don’t make the protein dystrophin, which helps keep muscle cells intact. The therapy helps the body produce a version of the missing protein

Answer 48

Duchenne muscular dystrophy

Question 49

a tool created by Kheiron Medical Technologies and Imperial College London, was able to identify 13% more cases of early breast cancer.

Answer 49

Mia

Question 50

This can monitor a patient's health, tracking metrics like heart rate, blood pressure, and physical activity. Along with remote monitoring tools, these devices prove valuable in dealing with chronic conditions by offering real-time data to healthcare providers.

Answer 50

Wearables