Chat with us, powered by LiveChat Insurance companies today have consumers paying a percentage of the total cost of health care through coinsurance. Thu | WriteDen

Insurance companies today have consumers paying a percentage of the total cost of health care through coinsurance. Thu

Read the scenario and answer in prompt 1 and 2

  • Scenario 1: External influences play a significant role in the success of any industry. In 2008, a plastic surgery center opened in a large city and the center expected a high volume of patients. The economy took a downturn, and consumers no longer spent money on non-essentials, such as elective surgery. When the economy recovered, the plastic surgery business grew by leaps and bounds. The success and failure of plastic surgery centers was directly reflected by the external factor of the economy. 
  • Prompt 1: Describe how another health care product or service may be influenced by a different external factor. Provide an example of a health care product or service that failed because of an external factor.
  • Note: Your example can include a product that completely failed or initially failed but was later a success.
  • Scenario 2: Insurance companies today have consumers paying a percentage of the total cost of health care through coinsurance. Thus, the consumer must be more conscious of costs. The Centers for Medicare & Medicaid Services (CMS) provides “report cards” for many health care areas, including pricing and quality of care for providers and various health care facility types. This data transparency shown to the consumer has allowed the consumer to make better choices by comparing products and services. Facilities have had to consider the external factor of competition more than ever before. 
  • Prompt 2: Research the CMS website and compare at least 2 dominant differences seen within at least 2 facilities. Navigate to the left side of the CMS page to review various facilities (hospitals, hospice centers, etc.) and the “report cards.”

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