Describe cost of the visit from the perspective of patient

Assignment Help Business Economics
Reference no: EM131076405

A patient visits a clinic. He incurs $5 in travel costs and has a copayment of $25. The clinics total charge is $75. The clinic spends $10 to bill the insurance company for the visit and uses resources worth $45 to produce the visit. The insurance company pays the clinic $35 and spends $8 to process the claim. Describe the cost of the visit from the perspective of the patient, the clinic, the insurer, and society. Fill in the table.

Reference no: EM131076405

Questions Cloud

Determine the optimal quantities and price in each period : Consider a durable good monopolist whose product is usable for only 2 periods. However, each consumer can benefit from the product only for one period. The quality of the product does not diminish over time and thus those who bought the product in pe..
Movements in cross-exchange rates : Last year a dollar was equal to 7 Swedish kronor, and a Polish zloty was equal to $.40. Today, the dollar is equal to 8 Swedish kronor, and a Polish zloty is equal to $.44.
The first-order taylor series approximation : Consider an rv X with mean m and standard deviation s, and let g(X) be a specified function of X. The first-order Taylor series approximation to g(X) in the neighborhood of m is
Describe cost of the visit from the perspective of patient : A patient visits a clinic. He incurs $5 in travel costs and has a copayment of $25. The clinics total charge is $75. The clinic spends $10 to bill the insurance company for the visit and uses resources worth $45 to produce the visit. The insurance co..
What is the least-cost input combination for remodeling : Suppose that the production function for Hannah and Sam’s home remodeling business is Q = F(L, K) = 10L0.2K0.3. If the wage rate is $1,500 per week and the cost of renting a unit of capital is $1,000 per week, what is the least-cost input combination..
An exponential distribution with parameter : Let U have a uniform distribution on the interval [0, 1]. Then observed values having this distribution can be obtained from a computer's random number generator.
Computing the annuity interest rate : Your parents just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for $14,217.56 that will pay them $2,500 per year for 15 years.
Write an inorder traversal algorithm for this array-based : Depict the array in an array-based implementation for the binary search tree in Figure 15-14 a of Chapter 15 . Assume that tree items are strings.

Reviews

Write a Review

Business Economics Questions & Answers

  Q in 1999 mercedes- benz usa assumes a new pricing policy

q. in 1999 mercedes- benz usa assumes a new pricing policy which it called nfp negotiation- free process that sought to

  Zinc also copper monopolists every set a price

The zinc also copper monopolists every set a price, believing that the other monopolist will not change its price. Conclude the equilibrium price of brass.

  What is the reliability of this part with such a design

Assume that the following data are known for a mechanical part under design: Load Stress is Normally distributed with ?s=15,000 psi and ?s=4,000 psi Strength of part is also normally distributed with ?ST=30,000 psi and ?ST=3,000 psi What is the safet..

  Administration was worried about a lingering recession

In 1992, thirst Bush administration was worried about a lingering recession. The administration announced that households would receive a reduction in their taxes for the year 1992. However, this was not accompanied by a reduction in tax rates, and t..

  Elucidate how do taxes influence the before-tax cash flow

Discuss the influence of taxes on the results of the above analyses. Elucidate how do taxes influence the before-tax cash flow compared to the after-tax cash flow results.

  The current price floor in the agricultural lettuce market

The current price floor in the agricultural lettuce market is $1 per head. The price floor makes it such that the price of lettuce is 25% higher than equilibrium price and 100 heads of lettuce are demanded at the price of $1. Assuming that the elasti..

  Supplier to the furniture producer

If you were a supplier to the furniture producer, would have chosen to see the analysis performed in physical sales units rather than dollars of revenue.

  Q1 investment account holders iah depositors take the same

q1. investment account holders iah depositors take the same risk that is assumed be bank shareholders. yet they have no

  What is the present worth of the payments

An engineering company just purchased a new CAD software for $8000 now and annual payments of $500 per year for 6 years starting 2 years from now for annual upgrades. What is the present worth of the payments if the interest rate is 6% per year?

  Q1 suppose that you can schedule a worker up to four hours

q1. suppose that you can schedule a worker up to four hours per day. the benefit function is given by bh 500h - 22.5h2

  What price should firm charge to realize targeted profit

An auto-service establishment has estimated its monthly cost function as follows: What price should the firm charge to realize the targeted profit? What would be its (cost-based) markup ratio? Now suppose the demand curve the firm faces is: Q = 3000 ..

  What is the approximate opportunity cost of producing

If the economy is currently producing 40 units of cotton and 6 units of wheat, then what is the approximate opportunity cost of producing 10 more units of cotton?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd