UMUC HMGT435 2021 October Assignments Latest (Full)

HMGT435 Healthcare Economics

Assignment 1

Applying Economic Concepts Relevant To Health Care Spending

As you learned in Week 1, health care spending is growing faster than overall growth in the economy (as measured by GDP) and by 2026 is expected to consume 20 percent of GDP.  In Week 2, the article by Hartman (et. al.) states that “the trade-offs required to finance health care spending have become increasingly challenging for both private and public payers.”

Given what you have learned from the course material in Week 1 and 2, discuss these trade-offs and how to evaluate them from an economic perspective.

Specifically, do the following:

From an economic perspective, explain why health care spending cannot grow greater than overall growth in the economy for an extended period of time without adverse consequences.

Identify what economic constraints overall and in the healthcare industry will occur if this happens.

Identify TWO Economic concepts that can be used to evaluate the trade-off between health care and other economic goods and services. In doing this:

Define the economic concept completely

Apply the economic concept to the current issue of rising health care spending and trade-offs

Evaluate the unique characteristics in health care that complicate this analysis.

This briefing report should be at least four double-spaced pages. Reference and cover pages are not part of the page count.  In writing your report, you should rely largely on reference material in the course readings and summary slides in Week 1 and Week 2.

 

HMGT435 Healthcare Economics

Assignment 2

Economic Analysis of the Demand for a Product/Service in Healthcare Sector

You just started working as a Health Service Manager within one of the following health care industries.  First choose an industry below to discuss the questions that follow:

Ambulatory Surgery Center

Pharmacy

Physician’s Office

Cosmetic Surgery Center

Laser Eye Center

Dental Office

Your manager has asked you to write a report detailing how the demand for your product(s) is impacted by various economic factors.  In writing your report, be sure to clearly identify the health care entity you chose above. In order for your manager to easily review your report, please include section headers to correspond to the questions below.

Answer the following questions relying primarily on the course readings and other resource material presented in this class (do not cite any other outside sources).

Describe a product or service your company provides to your patients.

Evaluate the demand curve for your product and relationship between the price of your service/product and the quantity demanded.

In this evaluation, be sure to identify:

Whether demand is sensitive (e.g. elastic) or less sensitive (e.g. inelastic) to changes in the price and

Evaluate why this relationship might occur.

Include a discussion of how the existence of health insurance would impact the elasticity of demand.

Define “substitute” goods and identify potential substitutes for your product/service. Evaluate how does the existence of a substitute impact the demand for your product/service.

Define “complement” goods and identify potential complements for your product/service. Evaluate how does the existence of complement goods impact the demand for your product/service.

Identify and discuss the economic factors that might lead to a shift in the demand curve for your product/service?

 

HMGT435 Healthcare Economics

Assignment 3

Economic Analysis of Supply and Market Structure of Healthcare Industry

You just started working as a Health Service Manager for a health care company within an industry below.  First choose an industry below to discuss the questions that follow:

Pharmaceutical (generic drugs)

Pharmaceutical (patented drug)

Any physician specialty (e.g. cardiology, ophthalmology, etc.)

Hospital (National Network)

Small rural hospital

Your manager has asked you to write a report detailing the factors impacting the supply of your product or services and how the market structure of your impacts the quantity supplied and the pricing of your product or service. 

Answer the first four questions (and Q6) below relying primarily on the course readings and other resource material presented in this class. You can use external UMGC library resources to research Q5  below in order to research government regulations impacting your industry.  Cite and refer all resources used whether internal or external.

Describe the product or service you supply to your patients.

Identify the market structure of your industry and the analyze the key characteristics of your industry that lead to your identification of this market structure.

Given this market structure, evaluate how prices charged for your services/products are determined.

Evaluate how does the existence of private and public insurance influence the revenues you receive for this service/product.

Given the government regulations impacting the health industry that have been discussed in this class, identify and discuss a government regulation that has been implemented in this industry.

Identify a market failure(s) discussed in class that the government regulation attempted to address.

In writing your report be sure to identify the health care entity you chose above. In order for your manager to easily review your report, please include section headers to correspond to the questions below. The report should be at least 4 double-spaced pages (excluding the cover and reference pages).

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