{"id":132717,"date":"2024-07-29T09:08:44","date_gmt":"2024-07-29T09:08:44","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=132717"},"modified":"2024-07-29T09:08:48","modified_gmt":"2024-07-29T09:08:48","slug":"lsus-mha-710-exam-123-and-4-healthcare-economics-complete-course-newest-actual-exam-questions-and-correct-detailed-answers-verified-answers-already-graded-a","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2024\/07\/29\/lsus-mha-710-exam-123-and-4-healthcare-economics-complete-course-newest-actual-exam-questions-and-correct-detailed-answers-verified-answers-already-graded-a\/","title":{"rendered":"LSUS MHA 710 EXAM 1,2,3 AND 4 HEALTHCARE ECONOMICS COMPLETE COURSE NEWEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+"},"content":{"rendered":"\n

LSUS MHA 710 EXAM 1,2,3 AND 4 HEALTHCARE ECONOMICS COMPLETE COURSE NEWEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+<\/p>\n\n\n\n

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LSUS MHA 710 EXAM 1 HEALTHCARE
ECONOMICS NEWEST 2024-2025 ACTUAL EXAM
COMPLETE 100 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
What is “economics”? – ANSWER- A Map for decision making.
Economics analyzes the allocation of scarce resources.
What are some of the specific challenges faced by managers in
healthcare? – ANSWER- 1. The central roles of risk and uncertainty<\/p>\n\n\n\n

    \n
  1. The complexities created by insurance<\/li>\n\n\n\n
  2. The perils produced by information asymmetries<\/li>\n\n\n\n
  3. The problems posed by not-for-profit organizations<\/li>\n\n\n\n
  4. The rapid and confusing course of technical and institutional change
    What does asymmetric information mean? Can you give an example? –
    ANSWER- When one party in a transaction has less information than<\/li>\n<\/ol>\n\n\n\n

    2 | P a g e
    the other party. For example, physicians and other healthcare providers
    usually understand patients’ medical options better than patients do.
    Unaware of their choices, patients may accept recommendations for
    therapies that are not cost-effective or, recognizing their vulnerability to
    physicians’ self-serving advice, may resist recommendations made in
    their best interest.
    What is adverse selection? – ANSWER- A situation that occurs when
    buyers have better information than sellers. For example, high-risk
    consumers are willing to pay more for insurance than low-risk
    consumers are. (Organizations that have difficulty distinguishing highrisk from low-risk consumers are unlikely to be profitable.)
    What is the problem of scarcity? – ANSWER- Demand for a good or
    service is greater than the availability
    What does it mean to say people are assumed to make choices
    rationally? – ANSWER- focuses on individuals’ efforts to best realize
    their goals, given their resources.
    What does it mean to says resources are scarce? – ANSWER- Anything
    useful in consumption or production that has alternative uses.
    What is opportunity cost? – ANSWER- Potential loss from a missed
    opportunity. Passing up the next best choice.<\/p>\n\n\n\n

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    What does “marginal” refer to? – ANSWER- The examination of the
    costs and benefits through a small change in the production of goods
    What does efficiency refer to? – ANSWER- No way to rearrange
    production of goods in a way that makes one person more better off
    without making somebody else worse off. How well an economy uses
    scare resources to meet the needs\/wants of their customers
    How do positive economic statements differ from normative economic
    statements? – ANSWER- Positive economics is objective while
    normative economics is subjective. Facts\/ What is vs What should be
    How can economics be applied to the health sector? – ANSWERDescribe, Explain, Evaluate, Plan
    As we progress through the chapters, think about the special
    characteristics that apply to the health sector that might limit the
    applicability of traditional economic models. – ANSWER- Social
    determinants of health, few insurance companies that providers rely on,
    not a perfectly competitive market
    How are healthcare products both outputs and inputs? Can you give an
    example? – ANSWER- Products (goods and services are considered
    products) are commonly both inputs and outputs. For example, a
    surgical tool is an input into a surgery and an output of a surgical tool
    company. Similarly, the surgery itself can be considered an output of the
    surgical team or an input into the health of the patient.
    get pdf at https:\/\/learnexams.com\/search\/study?query=<\/a><\/p>\n\n\n\n

    1 | P a g e
    LSUS MHA 710 EXAM 2 HEALTHCARE
    ECONOMICS NEWEST 2024-2025 ACTUAL EXAM
    COMPLETE 100 QUESTIONS AND CORRECT
    DETAILED ANSWERS (VERIFIED ANSWERS)
    |ALREADY GRADED A+
    Which of the following would likely lead to the greatest
    improvement in the health status of the population in the United
    States? – ANSWER- Improved lifestyles changes
    The accompanying diagram depicts the relationship between
    health status and medical care spending for a particular country.
    Assume the current spending level is S1 on TP1. All of the
    statements below are true? – ANSWER- S1 levels of spending
    are often described as spending on the flat of the curve
    When measuring the effectiveness of a treatment, surrogate
    measures reflect clinical efficacy and include: – ANSWERbone-mass density (BMD)
    The direct costs in an economic evaluation include all of the
    following except: – ANSWER- reduced productivity at work<\/p>\n\n\n\n

    2 | P a g e
    Under which of the following circumstances is the principalagent relationship likely to be most problematic? – ANSWERBetween surgeons and patients
    Kindig and Stoddart (2003) defined population health as “health
    outcomes of an entire population, including the distribution of
    such outcomes within a group of individuals.” – ANSWER- True
    Which of the following is not the World Health Organization
    (WHO) index to measure health system performance? –
    ANSWER- Morbidity
    Which of the following is not part of the three dimensions of
    health care delivery known as the “triple aim”? – ANSWERExpanding health insurance
    Mortality rate and morbidity are the most popular metrics used
    to evaluate population-based health outcomes – ANSWER- True
    From 2001 to 2011, life expectancy for the total U.S population
    increased from: – ANSWER- 77.2 to 78.7 years
    Whites have experienced an increase in life expectancy that is
    more than twice that of Blacks – ANSWER- False<\/p>\n\n\n\n

    3 | P a g e
    Which ethnic group has the highest life expectancy in the United
    States? – ANSWER- Hispanics
    People with higher income are less likely to have better health
    outcomes and have a higher mortality rate – ANSWER- False
    The rate at which members of a group are newly diagnosed with
    a disease is called – ANSWER- morbidity rate
    Teen pregnancy is a concern among public health officials and
    policy makers because of the follow associated problems except
    for – ANSWER- poverty
    Obesity prevalence in the United States is the highest in the
    developed world and has worsened since the 1960s – ANSWERTrue
    The United States has the highest rate of low-birth-weight
    infants than other developed countries – ANSWER- False
    Perinatal mortality is defined as late fetal death plus deaths in
    the first __ days after birth – ANSWER- 30
    get pdf at     https:\/\/learnexams.com\/search\/study?query=<\/a><\/p>\n\n\n\n

    1 | P a g e
    LSUS MHA 710 EXAM 3 HEALTHCARE
    ECONOMICS NEWEST 2024-2025 ACTUAL EXAM
    COMPLETE 100 QUESTIONS AND CORRECT
    DETAILED ANSWERS (VERIFIED ANSWERS)
    |ALREADY GRADED A+
    Which of the following would increase the supply of physicians?
    a. Increasing the cost of attending medical school
    b. More scholarships and grants to cover medical school tuition
    c. Increasing the medical school entrance requirements to include 15
    hours of economics
    d. Making it easier for plaintiffs to prove medical malpractice claims
    e. Paying medical schools to eliminate residency opportunities in some
    specialties – ANSWER- b. More scholarships and grants to cover
    medical school tuition
    Which of the following statements about the distribution of physicians
    among specialties is true in the United States?
    a. The majority of physicians specialize in general\/family practice.
    b. There are twice as many generalists as there are specialists.
    c. There are twice as many specialists as there are generalists.<\/p>\n\n\n\n

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    d. The specialty distribution in the United States is similar to that of the
    rest of the world.
    e. None of the above. – ANSWER- c. There are twice as many
    specialists as there are generalists.
    According to surveys by the Medical Group Management Association,
    the average primary care physician earned approximately _<\/em><\/strong> in
    2010.
    a. $125,000
    b. $150,000
    c. $185,000
    d. $200,000
    e. $225,000. – ANSWER- d. $200,000
    Surgical specialists earn more than general\/family practice physicians.
    Which of the following statements is not true regarding this income
    differential?
    a. Surgeons earn more because their practice costs, including medical
    malpractice insurance is higher.
    b. Surgeons earn more to compensate them for the extra years spent as
    residents.
    c. Physicians’ incomes are determined to a large extent by supply and
    demand conditions with respect to each specialty.
    d. Surgeons will always earn more than general practitioners because
    they are smarter than general practitioners.<\/p>\n\n\n\n

    3 | P a g e
    e. Surgeons earn more than general practitioners because cutting into
    people is messy. – ANSWER- d. Surgeons will always earn more than
    general practitioners because they are smarter than general practitioners.
    The rate of return on an investment in medical education
    a. is inversely related to the length of time spent in formal schooling.
    b. is inversely related to income.
    c. will increase with an increase in the availability of student loans.
    d. is much higher than the rate of return on an undergraduate business
    degree.
    e. is inversely related to the number of years in the profession. –
    ANSWER- e. is inversely related to the number of years in the
    profession.
    Physicians who own their own diagnostic testing facilities tend to order
    more tests, charge higher fees for them, and have higher total bills to
    patients. This practice of self-referral is an example of
    a. moral hazard.
    b. adverse selection.
    c. res ipsa loquitur.
    d. physician-induced demand.
    e. cognitive dissonance. – ANSWER- d. physician-induced demand.
    The observed variations in practice patterns in different regions of the
    country are difficult to eliminate<\/p>\n\n\n\n

    4 | P a g e
    a. because of the many alternative treatment options available for most
    ailments.
    b. due to the localized nature of most medical practice.
    c. because it is difficult to change the preferences of physicians and
    patients.
    d. the observed variations are so minor that they are of little concern to
    policy makers.
    e. a, b, and c are true. – ANSWER- e. a, b, and c are true.
    To address the shortage of physicians on the horizon, it will be necessary
    to
    a. build more medical schools.
    b. provide more grants and scholarships for medical education.
    c. allow the admission of more foreign-educated physicians.
    d. all of the above. – ANSWER- d. all of the above.
    In 2010, the medical specialty that earned the highest rate of return on
    investment was
    a. general primary care.
    b. Internal medicine.
    c. Pediatrics.
    d. orthopedic surgery.
    e. none of the above. – ANSWER- d. orthopedic surgery.
    get pdf at     https:\/\/learnexams.com\/search\/study?query=<\/a><\/p>\n\n\n\n

    1 | P a g e
    LSUS MHA 710 EXAM 4 HEALTHCARE
    ECONOMICS NEWEST 2024-2025 ACTUAL EXAM
    COMPLETE 100 QUESTIONS AND CORRECT
    DETAILED ANSWERS (VERIFIED ANSWERS)
    |ALREADY GRADED A+
    The standard cut-off for cost per quality-adjusted life year
    (QALY) used by most governmental decision makers is set in
    terms of multiple of national per capita income. The value of the
    threshold is usually what percent of national per capita income?<\/p>\n\n\n\n