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Implications of health economic concepts for health care | HSA 510 – Health Economics | Strayer University

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you will examine how health care professionals and decision makers evaluate health care economics to understand the economic dynamics of health care systems. Consider the complexity of providing health care and the intricate relationship between the fundamentals of economics and the elements of health care systems. Understanding this relationship is vital for informed decision making and optimization of health care systems. Making a clear understanding about health economics in relation to health care professionals, delivery, and government and private sector involvement.

Assessing the value of health care professionals and decision makers understanding the discipline of health economics.

Defending or critiquing the importance of considering the complex nature of health and health care when examining the economic principles related to health care delivery.

Analyzing the primary potential benefits of learning about health economics related to government involvement in health care economics, financing, and delivery.

Analyzing the main potential benefits of learning about health economics related to private sector involvement in health care economics, financing, and delivery.

Please make sure these points are included in the paper:

 

explaining what health economics is and how it relates to healthcare, discussing  specific economic principles discussing public payers like Medicare, Medicaid, the VA, and for private payers you will discus the private employers based insurers. paying close attention to the quality outcomes, spending, and financing for each of the models as part of your discussions for the public and private payers.

Some economic principles include supply and demand, the cost curve, determinants of health, capitation and payer mix, and elasticity

Sources:

 

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5600717/

https://www.rand.org/content/dam/rand/pubs/monograph_reports/2005/MR1355.pdf

https://www3.paho.org/hq/index.php?option=com_content&view=article&id=2973:health-financing&Itemid=2080&lang=en

https://www.brookings.edu/research/a-dozen-facts-about-the-economics-of-the-u-s-health-care-system/

https://www.who.int/health-topics/health-financing#tab=tab_1

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7237575/#:~:text=During%20the%20period%20of%20study,on%20economic%20growth%20(18).

https://www.frontiersin.org/articles/10.3389/fpubh.2020.00156/full

http://www.patientnavigatortraining.org/healthcare_system/module2/4_publicpayers.htm

http://www.patientnavigatortraining.org/healthcare_system/module2/3_healthinsurancepayersplans.htm

https://healthpayerintelligence.com/news/how-capitated-payments-prompt-payer-provider-innovation

https://www.kff.org/medicare/issue-brief/the-facts-on-medicare-spending-and-financing/

https://jamanetwork.com/journals/jama/fullarticle/2762309

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6697357/

https://www.rand.org/pubs/periodicals/health-quarterly/issues/v4/n3/09.html

https://journalofethics.ama-assn.org/article/complex-relationship-between-cost-and-quality-us-health-care/2014-02

Employer strategies to reduce health costs and improve quality through network configuration

https://www.commonwealthfund.org/publications/issue-briefs/2015/nov/evaluating-impact-health-insurance-industry-consolidation

How Much More Than Medicare Do Private Insurers Pay? A Review of the Literature

https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2774583

https://www.acponline.org/about-acp/about-internal-medicine/career-paths/residency-career-counseling/resident-career-counseling-guidance-and-tips/understanding-capitation#:~:text=Capitation%20is%20a%20fixed%20amount,delivery%20of%20health%20care%20services.&text=In%20many%20plans%2C%20a%20risk,percentage%20of%20the%20capitation%20payment.

http://www.ihi.org/resources/Pages/Changes/MeasureandUnderstandSupplyandDemand.aspx

https://www.cambridge.org/core/journals/health-economics-policy-and-law/article/need-demand-supply-in-health-care-working-definitions-and-their-implications-for-defining-access/DCA6075231537BB4EFC57793B33879F0

https://saylordotorg.github.io/text_microeconomics-theory-through-applications/s19-01-supply-and-demand-in-health-ca.html

https://www.healthknowledge.org.uk/public-health-textbook/research-methods/1c-health-care-evaluation-health-care-assessment/measures-supply-demand

https://www.intechopen.com/online-first/77622

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6131959/

https://www.healthypeople.gov/2020/about/foundation-health-measures/Determinants-of-Health

https://www.verywellhealth.com/capitation-the-definition-of-capitation-2615119

https://tdi.dartmouth.edu/news-events/3-examples-how-economics-affects-health-and-health-care

https://www.researchgate.net/publication/12038803_Applying_Economic_Principles_to_Health_Care

https://onlinelibrary.wiley.com/doi/pdf/10.1111/jocn.12454

https://wwwnc.cdc.gov/eid/article/7/2/70-0282_article

https://www.sciencedirect.com/science/article/pii/S221210991500103X#:~:text=Health%20economic%20studies%20provide%20information,and%20consequences%20of%20different%20interventions.

https://www.sciencedirect.com/science/article/pii/S1532046411001067

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4754218/

https://jamanetwork.com/journals/jama/fullarticle/2676095

https://www.ncbi.nlm.nih.gov/books/NBK221227/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5394993/

https://scholar.harvard.edu/files/mankiw/files/economics_of_healthcare.pdf

https://www.thoughtco.com/pros-and-cons-of-government-healthcare-3325379

https://www.sciencedirect.com/topics/nursing-and-health-professions/health-care-financing

https://www.healthaffairs.org/doi/10.1377/hlthaff.2020.01560

https://pmj.bmj.com/content/79/929/147

https://www.healthknowledge.org.uk/public-health-textbook/medical-sociology-policy-economics/4d-health-economics/principles-he

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July 1, 2023
    

 

 

21.Arch Associates reports the following comparative balance sheets and income statement information.    The amount of cash revenue received from customers during 2014 was:   

A. $66,000.

 

B. $62,000.

 

C. $74,000.

 

D. $70,000.

 

 

22.Arch Associates reports the following comparative balance sheets and income statement information.    The amount of cash paid for inventory purchases during 2014 was:   

A. $40,000.

 

B. $32,000.

 

C. $22,000.

 

D. $36,000.

 

 

23.Arch Associates reports the following comparative balance sheets and income statement information.    Which of the following cash flows would be included under the operating activities section of the cash flow statement? (Assume the direct method is used.)   

A. Cash received from issuing bonds payable.

 

B. Cash paid to purchase equipment.

 

C. Cash receipts from dividends.

 

D. None of these.

 

 

24.The following account balances are for Curran Company:  Additional data for 2014:(1) Sales on account for the period were $100,000.(2) Salary expense was $14,000.(3) Rent expense was $12,000.Based on this information, what was the net cash inflow from operating activities for 2014?   

A. $88,000.

 

B. $84,000.

 

C. $98,000.

 

D. $74,000.

 

 

25.Erie Company began the accounting period with $27,000 in accounts receivable. The ending balance in accounts receivable was $10,000. If the credit sales during the period were $44,000, what is the amount of cash received from customers?   

A. $27,000

 

B. $44,000

 

C. $81,000

 

D. $61,000

 

 

26.The following income statement was drawn from the annual report of Gibbons Company:  The amount of cash flow from operating activities is:   

A. $37,200.

 

B. $26,000.

 

C. $36,000.

 

D. $24,800.

 

 

27.Pace Associates, a small consulting firm, charges all of its expenses on accounts payable. On January 1, 2014, Pace's accounts payable balance was $1,500 and, during the year, an additional $13,500 of expenses were charged on account. The ending accounts payable balance was $3,500. What is the amount of cash paid for expenses during 2014?   

A. $17,000

 

B. $11,500

 

C. $10,500

 

D. $15,500

 

 

28.The 2014 income statement of Winter Co. reported wages expense of $160,000. The December 31, 2013 balance sheet showed a balance in wages payable of $16,000 while the December 31, 2014 balance sheet showed a balance in wages payable of $22,000. What amount of cash was paid for wages in 2014?   

A. $176,000

 

B. $166,000

 

C. $154,000

 

D. $144,000

 

 

29.When preparing a statement of cash flows, in which section is it permitted to use either the direct method or the indirect method?   

A. Operating activities

 

B. Investing activities

 

C. Financing activities

 

D. All of these answers are correct.

 

 

30.The 2014 income statement of Collins Co. reported total sales revenue of $115,000. The December 31, 2013 balance sheet showed a balance in accounts receivable of $17,500, while the 2014 balance sheet showed a balance in accounts receivable of $25,000. The cash inflow from customers for 2014 would be:   

A. $107,500.

 

B. $132,500.

 

C. $115,000.

 

D. $122,500.

 

 

 

default image
July 1, 2023
    

 

 

21.Arch Associates reports the following comparative balance sheets and income statement information.    The amount of cash revenue received from customers during 2014 was:   

A. $66,000.

 

B. $62,000.

 

C. $74,000.

 

D. $70,000.

 

 

22.Arch Associates reports the following comparative balance sheets and income statement information.    The amount of cash paid for inventory purchases during 2014 was:   

A. $40,000.

 

B. $32,000.

 

C. $22,000.

 

D. $36,000.

 

 

23.Arch Associates reports the following comparative balance sheets and income statement information.    Which of the following cash flows would be included under the operating activities section of the cash flow statement? (Assume the direct method is used.)   

A. Cash received from issuing bonds payable.

 

B. Cash paid to purchase equipment.

 

C. Cash receipts from dividends.

 

D. None of these.

 

 

24.The following account balances are for Curran Company:  Additional data for 2014:(1) Sales on account for the period were $100,000.(2) Salary expense was $14,000.(3) Rent expense was $12,000.Based on this information, what was the net cash inflow from operating activities for 2014?   

A. $88,000.

 

B. $84,000.

 

C. $98,000.

 

D. $74,000.

 

 

25.Erie Company began the accounting period with $27,000 in accounts receivable. The ending balance in accounts receivable was $10,000. If the credit sales during the period were $44,000, what is the amount of cash received from customers?   

A. $27,000

 

B. $44,000

 

C. $81,000

 

D. $61,000

 

 

26.The following income statement was drawn from the annual report of Gibbons Company:  The amount of cash flow from operating activities is:   

A. $37,200.

 

B. $26,000.

 

C. $36,000.

 

D. $24,800.

 

 

27.Pace Associates, a small consulting firm, charges all of its expenses on accounts payable. On January 1, 2014, Pace's accounts payable balance was $1,500 and, during the year, an additional $13,500 of expenses were charged on account. The ending accounts payable balance was $3,500. What is the amount of cash paid for expenses during 2014?   

A. $17,000

 

B. $11,500

 

C. $10,500

 

D. $15,500

 

 

28.The 2014 income statement of Winter Co. reported wages expense of $160,000. The December 31, 2013 balance sheet showed a balance in wages payable of $16,000 while the December 31, 2014 balance sheet showed a balance in wages payable of $22,000. What amount of cash was paid for wages in 2014?   

A. $176,000

 

B. $166,000

 

C. $154,000

 

D. $144,000

 

 

29.When preparing a statement of cash flows, in which section is it permitted to use either the direct method or the indirect method?   

A. Operating activities

 

B. Investing activities

 

C. Financing activities

 

D. All of these answers are correct.

 

 

30.The 2014 income statement of Collins Co. reported total sales revenue of $115,000. The December 31, 2013 balance sheet showed a balance in accounts receivable of $17,500, while the 2014 balance sheet showed a balance in accounts receivable of $25,000. The cash inflow from customers for 2014 would be:   

A. $107,500.

 

B. $132,500.

 

C. $115,000.

 

D. $122,500.

 

 

 

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July 1, 2023
    

Overview

The final project for this course is the creation of a six-month merchandise plan for the women’s dresses department. The final product represents an authentic demonstration of competency because it provides an authentic experience of completing a buying plan. The final deliverable will be the completion of the Six-Month Plan Workbook and a presentation of the summary using the Final Project Presentation Template, and the final product will be submitted in 
Module Seven.

In this assignment, you will demonstrate your mastery of the following course outcomes:

· Apply concepts of retail merchandise planning by analyzing relevant data for informing merchandise decisions

· Explain merchandising strategies for addressing real work issues based on results of data analyses

· Design plans for merchandising that maximizes profit

Prompt

When the buyer for the women’s dresses department started to develop the merchandise plan for the spring season, they reviewed the six-month plan in Figure 35 from your textbook. Use the Six-Month Plan Workbook to complete the calculations for this project.

Buyers begin the planning process well in advance of buying for the next season. The Six-Month Plan Workbook spreadsheet represents the dress department’s spring six-month plan. 
Last year’s results are as follows:

· Net Sales amounted to $4,500 million. (Note that all sales on all reports are in millions of dollars.)

· Cumulative markup percentage was 68.5%, and markdowns for the season were $1,914, representing a journalized markdown percentage of 42.5%, which resulted in a gross margin of 55.1%.

· Turn for the season was 0.96.

The numbers that were achieved represent the department’s performance last year for a fast-selling and up-trending department. The buyer was given the following information to plan for the upcoming spring season:

· Percent increase/decrease average of planned sales: +6.8%

· Planned markdown percentage: 46.1%

· Planned turnover: 0.98

· Cumulative markup percentage: 68.7% 

For next spring, the buyer has to take into account a shift in Easter selling. Last year, Easter occurred on the first Sunday in April. Therefore, pre-Easter sales happened the last two weeks in March. This year, Easter falls on the third week of April. Based on the sales success this department has experienced over the last two years, the buyer is concerned about keeping that trend going.

Specifically, you must address the 
critical elements listed below. Most of the critical elements align with a particular course outcome (shown in brackets).

I.
Analysis: Create an Excel spreadsheet. Acting as the buyer for the activewear department and using the spring season’s six-month plan as a template, create a spreadsheet and formulate the plan, markdown percentages, and beginning-of-month (BOM) stock needed
. You will want to use the table above to help you do the calculations.

a.
Sales Last Year: Calculate each month’s percentage of sales for last year. Note: Your response should be in percentages and rounded to the nearest tenth.

b.
Sales Next Year: Calculate the total planned season sales by month for the next year. Note: You will want to account for the Easter shift.

c.
Planned Markdown Dollars: Calculate the planned markdown dollars and percentage by month.

d.
BOM Stock: Calculate the BOM stock needed by month.

e.
Purchase Dollars: Calculate the purchase dollars in retail (also known as receipt dollars needed to achieve the BOM stock).

II.
Summary: Summarize the six-month plan and add recommendations for enhancing the department’s overall success in the long run. Include the following:

a.
Planned Monthly Sales: Explain the rationale behind the monthly percentages calculated for the planned monthly sales.

b.
Planned Markdown Percentages: Explain the rationale behind the planned markdown percentages by month.

c.
Inventory: Evaluate whether there is sufficient inventory at the beginning of each month to achieve your sales plan, and explain why or why not.

d.
Slowing Down: Explain how the buyer should address their concern regarding sales potentially slowing down. Use data and examples to support your response.

e.
Increase in Sales: Explain how the buyer should address inventory levels with an increase in sales. Use data and examples to support your response.

f.
Gross Margin: Examine the potential effect of a higher markdown percentage on gross margin.

Milestones

Final Submission: 
Merchandise Plan
In 
Module Seven, you will submit your final project. It should be a complete, polished artifact containing 
all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. 
This submission will be graded with the Final Project Rubric.

What to Submit

The “Analysis” section of your merchandise plan must be submitted as an Excel document, and the “Summary” section must be submitted as a PowerPoint file and written in APA format. The Excel document should provide the equations you used to complete each calculation. The target audience is a business professional audience. Visit the 
Software for Students, Faculty, and Staff page for additional information about PowerPoint access.

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