HEALTH ECONOMICS QUESTIONS! PLEASE ANSWER ALL QUESTIONS AND EXPLAINS, THANKS 1.
ID: 1117785 • Letter: H
Question
HEALTH ECONOMICS QUESTIONS! PLEASE ANSWER ALL QUESTIONS AND EXPLAINS, THANKS
1.What is July effect?
2.What are reasons of limited competition in hospital industry? Explain how each reason limits competition in hospital industry.
3. What are three observations one can make that indicate existence of adverse selection in a market?
4. Adverse selection can lead to collapse of health insurance market through adverse selection death spiral. Although adverse selection can be observed in any insurance market, we do not observe adverse selection in many cases. Name reasons why adverse selection may not occur in real markets. Explain each reason
5. What are three measures researchers use to measure hospital quality? How do they measure competitiveness in hospital industry?
6. What is medical arms hypothesis? What does the literature conclude on hospital competition’s effect? Is it in favor of medical arms hypothesis? Why?
Explanation / Answer
1. July Effect
In simple words, July Effect or the July phenomenon refers to the perceived increase in the probability of medical errors and complication in the month of July - the month in which the residencies of the United States medical school graduates begin. A study published in 2010 by the name 'Journal of General Internal Medicine study', analyzed medical errors in the USA hospital from 1979 to 2006 and found that medical errors and other complications increased by around 10% during the month of July at teaching hospitals in the US. This increase in medical errors in the month of July is known as the July Effect.
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