1. Why have economic analyses of clinical and administrative innovations become

Question

1. Why have economic analyses of clinical and administrative innovations become more important?

2. A clinic finds that by eliminating appointments it can reduce costs. The clinic is able to eliminate some telephone staff, and physicians become more productive. Patients wait until the physician is available, so there is virtually no down time. Does this analysis adopt a societal view of costs? Why might this analysis result in a bad managerial decision?

3. Treating a patient with congestive heart failure with tPlex rather than Isother increases average life expectancy to 12.3 years from 11.5 years. The added cost of therapy is $14,000. What is the cost per life year?

4. What does it mean to have market power? Are firms with market power extremely profitable?

5. Why might banning advertising drive up prices?

Explanation / Answer

1.Economic analyses of clinical and administration innovation has become important since these are the two factors that are concerned with the population and are of major use as in clinical innovations directly links up with the life of a person and so as administration innovation is linked up in major administration issues.

2.Yes this analysis involves societal view of cost since there is change in expense due to change in policy of clinic.This decision result in bad managerial decision since there will be lack of management in this case sinnce in absence of appointments everyone will arrive at random times and there will be cases when there will be rush at the same time and hence this will create problem for clinic.

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