Test 4

Question 1

The branch of economics that focuses on efficiency, effectiveness, and behavior in the production and consumption of healthcare goods and services

Answer 1

healthcare economics

Question 2

The study and science of how much needs are perceived in relationshi pto the available supply of health care.

Answer 2

healthcare economics

Question 3

Unique differences between healthcare economics and other types of economics

Answer 3

involvement of government
intractable uncertainty
barriers to accessing services
role of third party agents in brokering and managing funds

Question 4

Based on what one has to give up to buy a good or service, also based on available dollars and need

Answer 4

Price

Question 5

The amount that is available at a specific price

Answer 5

supply

Question 6

Includes all healthcare workers, the physical facilities for patient care, materials, equipment, technology, financial assets, and the time resources required to provide health services

Answer 6

supply

Question 7

Includes those items that are used once and then discarded

Answer 7

material supplies

Question 8

affected by the types of services provided, the access to supplies, and the cost of supplies

Answer 8

material supply levels

Question 9

A significant supply resource that is often overlooked

Answer 9

time

Question 10

generated by the number of consumers who desire the available goods at a certain price

Answer 10

demand

Question 11

the desire to own a good or service

Answer 11

demand

Question 12

demand is influenced by:

Answer 12

available resources
prices of related goods
number of interested buyers
consumer’s preferences

Question 13

As price increases, the demand for a good or service __-

Answer 13

decreases

Question 14

As the quantity of good or supple increases, the price ____

Answer 14

decreases

Question 15

5 Resource categories:

Answer 15

human, fiscal, material, technology & time

Question 16

Type of resource that includes those individuals who provide direct patient care as well as those who support patient care processes

Answer 16

human resources

Question 17

comprehensive management of HR includes:

Answer 17

the recruitment, management, and retention of human resources

Question 18

based on the defined or anticipated needs for services

Answer 18

recruitment

Question 19

An ___ ___ ____ negatively affects the supply and demand cycle

Answer 19

ineffective recruitment process

Question 20

5 retention concepts implemented by Hinson and Spatz:

Answer 20

onboarding
employer rounding
social networking
employee recognition
developmental stretch assignments

Question 21

The early proceses of socializing nurses into the owkrplace to achieve optimal employee engagement.

Answer 21

onboarding

Question 22

regular rounding in work areas to identify employees’ most critical needs, safety issues, and clinical concerns

Answer 22

employer rounding

Question 23

specific social activities to support team building, seasonal challenges, and common needs

Answer 23

social networking

Question 24

Acknowledgment of outstanding behaviors, communication, accountability, valuing diversity, delivering excellence, and teamwork.

Answer 24

employee recognition

Question 25

Assignments to improve employee satisfaction and engagement through autonomy and leadership practices.

Answer 25

developmental stretch assignments

Question 26

The payment of premiums to provide coverage for insured individuals

Answer 26

financing

Question 27

The vehicle to manage risk across populations

Answer 27

insurance

Question 28

Provision of healthcare services by providers, hospitals, diagnostic clinics, and suppliers

Answer 28

delivery

Question 29

the process of reimbursement to providers for services rendered

Answer 29

payment

Question 30

The current US financial system for health care includes:

Answer 30

financing, insurance, delivery, and payment

Question 31

The major financiers of health care are:

Answer 31

state/federal government & private insurance companies

Question 32

___ ____ include those items needed for the environment and supplies and equipment to provide the required patient care.

Answer 32

material resources

Question 33

Strategies for time management:

Answer 33

self-assessment Develop a personal plan Review/assess results

Question 34

A long-standing quantitative measure of the efficiency of the use of specific resources.

Answer 34

productivity measurement

Question 35

A ratio comparing what is produced to what is required to produce it.

Answer 35

productivity

Question 36

A measure of output from a production process, per unit of input.

Answer 36

productivity

Question 37

Performed to determine the worth or value derived from expending resources

Answer 37

cost-benefit analysis

Question 38

5 types of value analyses that should be considered when expending resources:

Answer 38

``` Cost-minimization analysis Cost-consequences analysis Cost-effective analysis Cost-utility analysis Cost-benefit analysis ```

Question 39

Emphasis is on keeping costs as low as possible Only costs are evaluated Clinical outcomes are assumed to be the same Example: practice guidelines for thrombolytic therapy via TPA

Answer 39

Cost-minimization analysis

Question 40

Consequences of two or more alternatives are measured as well as the costs, but costs/consequences are listed separately. Ex: Comparison of early D/C of low birth weight infants whose care was managed by advanced practice nurses compared to traditional physician care

Answer 40

Cost-consequences analysis

Question 41

Outcomes are measured in the same units between alternatives. Ex: evaluation of pain management interventions for patients with chronic arthritis

Answer 41

Cost-effectiveness analysis

Question 42

Special type of CEA that includes measures of both quantity and quality of life. Individual preferences for different health outcomes are sought and included. A difficult comparison; the goal is to compare expenditures to quality adjusted life-years

Answer 42

cost-utility analysis

Question 43

Outcomes are measured according to some monetary unit. A single dollar figure, representing cost minus benefits, is calculated. Ex: Is the cost of a pain management clinic covered by the amount of revenue generated? Cost: $500 revenue: $750 = 50% return on investment

Answer 43

Cost-benefit analysis

Question 44

In a well functioning system, the creation of ______ should be the factor that determines which rewards are received by all others in that healthcare system.

Answer 44

value for the patient

Question 45

Porter states that the overarching goal of healthcare delivery is:

Answer 45

delivery of high-quality value for every dollar spent.

Question 46

Healthcare is shifting from a ___ model to a ___ system

Answer 46

quantitatively oriented, financial | Value-driven

Question 47

____ can be conceptualized on the basis of what the specific caregiver role contributes to the overall organizational outcomes.

Answer 47

Value

Question 48

One of the foundational principles of negotiation

Answer 48

win-win

Question 49

Essential principles for a positive negotiation:

Answer 49

``` understand your own position collect data on the other's position concession is a strategy, not a loss the solution must be mutual expect to be surprised exchange must be thought fair by stakeholders ```

Question 50

Stages of a negotiation:

Answer 50

``` Readying for negotiation Establishing a framework Intensive interaction Bargaining Closing the interaction Implementing the agreement ```

Question 51

____ is always the source of power in the negotiation process.

Answer 51

Information

Question 52

Preparation for negotiation should be free from ___

Answer 52

emotion

Question 53

BATNA

Answer 53

Best alternative to a negotiated agreement

Question 54

negotiation is a ___ not an, ___

Answer 54

process; event

Question 55

Refers to when early agreements on a particular issue of conflict can provide the floor for subsequent clarity and agreement on more difficult issues.

Answer 55

chunking

Question 56

Proposals in negotiation should be:

Answer 56

broad based, open ended, and exploratory

Question 57

Occurs when the negotiator attempts to bargain in a way that supports his or her position as the most correct

Answer 57

positional bargaining