05 Jun Question CDHPs A new type of third-party-reimb
Question
CDHPs
A new type of third-party-reimbursement healthcare payment plan is emerging in the United States. CDHPs strive to control costs and improve quality of care by requiring consumers to take control of their own healthcare decisions. Consumers decide how they want to spend their healthcare dollars, depending on what is important to them. CDHPs are geared to encourage participants to enroll in some type of wellness program and improve their lifestyles. Specific types of CDHPs are health reimbursement accounts (HRA), flexible spending accounts (FSA), and health savings accounts (HSA).
However, there are concerns about CDHPs. The consumer may neither understand nor have the education and the tools to manage his or her own healthcare appropriately. This may have long-term ramifications on the whole healthcare system and whether CDHPs can be successful for the consumer, the employer, the physician, and the healthcare facilities, as well as the insurers. Answer the following questions in regard to this development:
Are CDHPs more geared toward the healthier and younger population?
Are they effective for patients with chronic illnesses?
Will they discourage the use of preventative care and cause increased healthcare costs in the future?
After examining the above questions in your analysis, work around the following instructions and create a 8- to 10-page Microsoft Word document:
Summarize the history of when, how, and why CDHPs were developed.
Explain HSA, HRA, and FSA with examples.
Examine different segments of the population. Describe which socioeconomic group is likely to benefit the most from CDHPs.
Explain the types of incentives to providers for efficiency in the delivery of healthcare services. Explain who bears the financial risk—the provider, the patient, or the CDHP.
Offer your recommendations for patients considering a CDHP, including which types are appropriate for which patients. Include your recommendations for each, to accept or decline, and also include your rationale behind such recommendations.
Support your responses with examples.
Cite any sources in APA format.
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Price Elasticity
You are advising the stakeholders of a small firm that is one of a handful of manufacturers of disposable contact lenses, wetting solution, and other products related to eye care. The stakeholders are wrestling with a proposal to implement a price increase for some, all, or a large number of their products. They all agree that doing so can help offset recent cost increases the firm has experienced, but there the agreement ends.
Some favor a small price increase for products across the board, noting that, from the standpoint of the market, demand for healthcare products is relatively inelastic. Others believe that strategy could backfire, hurting more than helping. Instead, they argue, there are a number of factors to consider—the strength of the economy, their competition, trends in the market for specific types of products, and so on. They believe, therefore, products or types of products should be considered on a case-by-case basis: while a price increase for one product might yield positive results, a price increase for another might wipe out any gain achieved by the first.
What would you say to these stakeholders? Formulate your advice, drawing on course readings, other scholarly sources, and the concept of healthcare price elasticity. Be sure to explain and support your advice by citing sources and providing examples.
Instruction:
To support your work, use your course and text readings and also use outside sources. As in all assignments, cite your sources in your work and provide references for the citations in APA format.
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