Assignment 1: Implications of Health Economic Concepts for Healthcare

Due Week 4 and worth 200 points

Select at least five (5) economic concepts covered in the first four weeks’ readings, and discuss the primary manner in which these concepts impact the world of health care economics. Some examples of selected concepts are health demand and supply, elasticity, resources, health measures, and costs.

Write a four to six (4-6) page paper in which you:

1. Assess the value of healthcare professionals and decision makers understanding the discipline of health economics.
2. Defend or critique the importance of considering the complex nature of health and healthcare when examining the economic principles related to healthcare delivery.
3. Analyze the primary potential benefits of learning about health economics related to government involvement in healthcare economics, financing, and delivery.
4. Analyze the main potential benefits of learning about health economics related to private sector government involvement in healthcare economics, financing, and delivery.
5. Use at least five (5) current references. Three of these references must be from current peer-reviewed sources to support and substantiate your comments and perspectives. 

Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

• Explain how selected economic principles apply to the health care market and the provisions of health care services.
• Analyze the factors that are influencing the demand and supply of health care services in the U.S.
• Assess current economic trends that influence the cost, quality, and access to care.
• Use technology and information resources to research issues in health economics.
• Write clearly and concisely about health economics using proper writing mechanics.

 

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Read the case study titled “Missed Opportunities”, attached. 

Write a four to six (4-6) page paper in which you:

1. Examine the pros and cons from the perspective of Crestview Hospital of the placement of its new billboard directly adjacent to Briarwood Medical Center. Interpret the reaction of customers and other community stakeholders to the billboard postings.
2. Use competitive marketing entry strategies to suggest the action that Briarwood Hospital should undertake to counter the messages in the new Crestview Hospital Billboard postings.
3. Recommend the marketing communication strategy or strategies that both Crestview and Briarwood Hospitals should employ. Justify why the Governing Board of both hospitals should take a proactive role in promoting and implementing effective marketing strategies.
4. Assess the value of the various marketing research tool(s) that Briarwood and Crestview hospital could use to promote effective marketing communication strategies. Justify your response.
5. Use at least five (5) quality academic resources. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. 

The specific course learning outcomes associated with this assignment are:

• Evaluate marketing research tools involved in the marketing process.
• Formulate competitive market entry strategies based on analysis of global markets that comply to initiatives in the health care industry.
• Determine the marketing communications strategy used in health care services.
• Use technology and information resources to research issues in health services strategic marketing.
• Write clearly and concisely about health services strategic marketing using proper writing mechanics. 

 

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Please respond to the following: “Competition Model”

• Justify the fundamental reasons that marketers should closely monitor the actions of rivals in order to proactively address developing issues, events, and circumstances. Provide one (1) example of such successful close monitoring to support your rationale.
• Evaluate the value afforded by Lehmann and Winer’s Level of Competition Model as an instrument for engendering the accurate identification and understanding of competition within the health care industry. Provide at least two (2) specific examples of Lehmann and Winer’s Level of Competition Model that apply within a health care organization with which you are familiar.

 

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Please respond to the following: “Course Completion”

• Identify the most significant political, economic, and social forces that you believe are influencing changes in health care marketing today.
• Identify three (3) key marketing skills you have gained from this class and suggest how each will benefit you in your current or future career.

 

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“Economic Evaluation of Health and value Judgment and Evaluation”  Please respond to the following:

• Evaluate the efficacy of major types of health clinical outcomes one can use in economic evaluation analysis. Provide at least one (1) example to support your response concerning clinical outcomes (e.g., infant mortality, average longevity, leading chronic disease, etc.) that one can use in order to conduct economic evaluation.
• From the United States Department of Labor website, compare and contrast alternative healthcare delivery arrangements in terms of their efficiency. Determine the primary ways in which an established market for health insurance can be efficient, especially when individuals carry less than adequate medical insurance coverage. Provide a rationale for your response.

 

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