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Question: Why are economic analyses of clinical and healthcare operations important? How can a healthcare leader apply this to their operations?

20 Oct 2022,5:22 PM

 

 

Part 1

Include the two questions that you selected to discuss at the top of your initial posting.
What conditions must exist for a firm to be able to price discriminate? Provide an example.
How do economists use the Hirschman -Herfindahl Index? Provide an example.
Why are economic analyses of clinical and healthcare operations important? How can a healthcare leader apply this to their operations?
What factors allow a firm to have monopoly profits? What should a healthcare manager need to know?
What are the pros and cons of merger activity? Why would the government want to prevent mergers?
What are the characteristics of monopolistic competition? Provide an example.
Why is understanding market structure important in health economics, what does it impact?
APA Requirements -Include Scholarly Evidence: Include at least TWO APA formatted references with correlating in-text citations.


Required Reading Materials :
Read the UMGC Library eBook: Economics for Healthcare Managers, Fourth Edition.
o Required Chapters to Read: and Chapter 15 (pages 237 - 253)
eBook UMGC Library Permalink: http://ezproxy.umgc.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=2144510&site=eds-live&scope=site
APA 7th Edition Formatting for eBook: Lee. R. (2019). Economics for healthcare managers. (4th ed.). Health Administration Press.
· Read the UMGC Library eBook Health Policy Issues: An Economic Perspective, Seventh Edition.
o Required Chapters to Read:
Chapter 15 (pages 235 - 245), Chapter 16 (247-259) and Chapter 21 (pages 335 - 353)
eBook UMGC Library Permalink: http://ezproxy.umgc.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&db=e025xna&AN=1907359&site=eds-live&scope=site
APA 7th Edition Formatting for eBook: Feldstein, P. (2019). Health policy issues: An economic perspective. (7th ed.). Health Administration Press.

Part 2

Staying abreast of issues, trends, and research in healthcare is important to the success of the healthcare professional and the community at large. For this activity, you will:
Locate a current article related to healthcare and specific to the healthcare sector that you are most interested in. Ensure that the article comes from a credible source of information.
After reading the article in detail, write 1-2 paragraphs that will serve as a summary of the information contained in the article and your analysis of that information. This should demonstrate an understanding of the material, independent analysis, and critical thinking skills.
Spend some time locating a group on LinkedIn that is specific to your area of interest or the sector of healthcare that you are wanting to work in. Join that group.
Share the article, along with your 1-2 paragraph analysis, on LinkedIn to the group you joined. You should have a LinkedIn profile already set up but if not, you will need to do this (Theme 1).
Finally, share a direct link to the LinkedIn group within your post that includes your article and the summary.

Expert answer

 

There are a number of reasons why economic analyses of clinical and healthcare operations are important. First, they can help to identify inefficiencies and areas of waste. Second, they can provide insight into which interventions or strategies are likely to be most effective in improving outcomes. Finally, they can help to inform decision-making about resource allocation.

 

As healthcare leaders, it is important to be aware of these issues and to consider how they might apply to your own operations. By understanding the economic drivers of clinical and healthcare operations, you will be better positioned to make decisions that improve outcomes and reduce costs. In addition, by applying economic principles to your own operations, you may be able to identify opportunities for improvement that would otherwise be missed.

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