...HCS 440 Economic Issues Simulation University of Phoenix, Axia Date: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Instructor: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Economic Issues Simulation: Constructit Constructit is a company that currently does not have any employer paid health insurance. This company consists of 1,000 people and they are willing to pay up to $4,000 per person for their annual premium. The group of people is compromised of 550 men and 450 women ranging in age from 26 to 45 years old. Fifty-seven percent of the workers range from high activity to moderate activity level while the remaining forty-three percent are in predominately sedentary positions. One factor to consider when determining which type of insurance to offer the group is the amount of health risk factors that affect the entire group of people. Thirty-eight percent of the workers have been determined to have no major risk factors at all. However; almost eighteen percent of the workers are smokers and 13.50 percent of them suffer from some type of respiratory disease or illness. One of the biggest risk factors affecting this group of people is obesity. Obesity affects thirty-nine percent of these workers which increases the risk for obesity related diseases and illnesses. These can include heart disease, hypertension, hyperlipidemia, and diabetes. This will increase the utilization of many healthcare services including prescription medications, diagnostic imaging and services...
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...Economic Issues Simulation Understanding Economic Issues for HMO’s Castor Collins Health Plan is a regional Health Maintenance Organization that has been contracted to provide health care coverage for Constructit and E-Editors. Castor Collins has to expand the coverage for another employee group by the name of Dearden. It is Castor Collins Health Plan’s goal to provide the necessary coverage, and still make a profit. At the time of renewal, Dearden’s policy will need to be reviewed and modified to add coverage and update if indicated to be profitable. The management team responsible for this review and implementation of coverage consists of the CFO, the Chief Medical Officer, and the Executive Vice President of planning and development, and the Vice President of strategy and financial planning. Constructit The management team reviewed Constructit and its need for coverage. This company needs coverage for 1,000 employees and is willing to pay $4,000 in premium. The age group is 26-45 with 43% in a sedentary work style. The other 57% is active, either moderately or severe, in the workforce. The workforce under the age of 30 is 40%. The biggest obstacle for this group as there is a 39% obesity rate among the employees. The team reviewed both standard and enhanced policies for this group and decided that the customized policy best fits the need of Constructit. Under the Castor Enhanced minor policy, the basic needs of medical services under inpatient and hospital...
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...Economic Issues Simulation Budget constraints increasingly determine the provision of health care services. One of the promises of cost-effectiveness analysis is that it can demonstrate how to maximize the health care benefits attainable within a specific budget.1,2 Despite this promise, cost-effectiveness analysis has been criticized for setting health care priorities in a way that violates people's values.3-5 For example, many people value equity in the distribution of health care resources, yet equity is not accounted for in cost-effectiveness analyses.6-13 A basic assumption of cost-effectiveness analysis is that one should always prefer a health care intervention that provides a population with more benefit per dollar than another intervention. However, sometimes budget constraints make it impossible to offer the most cost-effective intervention to everyone in the population, raising issues of equity.14 For example, suppose one has a fixed budget of $200,000 with which to screen a specific population for colon cancer. Test 1 costs $200,000 to offer to everyone in the population and prevents 1000 deaths from colon cancer. Test 2 costs $400,000 to offer to everyone and prevents 2200 deaths from colon cancer. Because of the budget, it is impossible to offer test 2 to everyone. However, it is possible to offer it to half the population, thereby exhausting the $200,000 budget and preventing 1100 deaths from colon cancer. Test 2 is more cost effective than test 1, because for...
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...Economic Issues Simulation Paper/ Constructit Ruby Medders HCS/440 March 16, 2015 Lori Geddes Economic Issues Simulation Paper/ Constructit The research was done on determining which insurance policy would be better for a striving company. My decision was to research Constructit; I will give you my reasons behind choosing this company, benefits that will help the employees of this company and why I think this was the better choice for this company. (Getzen, 2013) Profile The companies name is Constructit, it employees 1000 people. The demographics for this company is ages 26-45 years old, there are 406 people between the ages of 26-30, 314 people between the ages of 31-35, and 82 people between the ages of 41-45. The total count for this company is 550 men and 450 women and 60% of the people are married. The physical condition of the people who work for Constructit shows that 32 % of the employees are involved in great physical activity, 25% is involved in a moderate physical activity, and the rest of the employees which is 43% are involved in sedentary activities. The health risk of the employee has been rated moderately high for health risk in this group. The good part of the research showed that 35% of the group has no major health risk, although 18% of the people who work for this company are smokers. (Getzen, 2013) According to report some of the major causes of work absenteeism at Constructit are injuries, respiratory system diseases, digestive disorders...
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...Economic Issues Simulation Paper Health maintenance organizations (HMO) are organizations that provide or organize health insurance, self-funded health care benefits plans, individuals, and other entities for the United States as a liaison with health providers or hospitals on a prepaid basis. In this simulation a virtual organization Castor Collins Health Plans presented three HMO options to two organizations. I will review one of the company’s demographics, discuss the HMO choices, explain the differences in the choices presented, and why I chose the plan I chose. The Health Maintenance Organization Act of 1973 required employers with 25 or more employees to offer federally certified HMO options if the employer offers traditional healthcare options, this is way today you are given more than one option for health care. Company: Constructit Constructit consist of a 1000 employees (550 men and 450 women) ranging from ages 26 through 42 and 60 percent of them are married. Constructit has to consider in the number of employees that would covers their spouses or children for insurance coverage. Thirty-two of the workers are physical active and 25 percent are moderately physically active. There are 170 men and 210 women approximately 38 percent with no health issues. Ten percent of men and 8 percent of the women are heavy smokers. Obesity rate is also a problem with 39 percent being obese causing a heavy absenteeism for reason of high blood pressure, diabetes, heart issues, and...
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...Health Care Reform Project, Part I Team HCS 440 Class University of Phoenix Online March 5, 2012 Health Care Reform Project, Part I Within the United States are many concerns about health care economics. Health care costs are continuing to rise and it contributes to the impact of providing the older population with medical care. “The aging of the U.S. population is translating into many more visits to doctors' offices and hospitals, a reality that is taxing weak spots in the health-care system” (The Associated Press, 2008, para. 1. Within this paper, the economic impact of providing the older population with medical care has on the provision of health care services to the public will be addressed. Also articles that support medical care to the older population will be addressed along with possible solutions to the economic impact of providing medical care to an older population. Economic Impact of Providing Medical Care to an Aging Population The world’s population is continuing to age, and the older people are the more likely he or she to seek medical care. The larger proportion of the hospital in-patient case load is represented by the older population. The older population has more complications and doctors have to perform more tests and procedures on them. According to Cauchon (2008), “the cost of health care and retirement benefits of an aging population threatens to bankrupt the nation...
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...Learning Styles and Personality Types Kelton Simon University of Phoenix 13 May 2011 Dr. Sara Barry Learning Styles and Personality Types I took two learning surveys to find more about myself. Taking the surveys I came to a conclusion that I have three distinctive learning styles. They are: Logical-mathematical, Intrapersonal, and Bodily-Kinesthetic. The three learning styles working together make me a more effective communicator by identifying my strengths and weaknesses. The personality survey revealed that I am an organizer, giver, and a thinker. The three personality types revealed the strong side of my character. My plan is to take what I have learned and re-evaluate my weakness and improve them to make them my strengths. My three different learning styles that help develop effective communications and collaborations. The first style is logical-mathematical. In my profession I’ve learned practical thinking will never fail you. Using what you have learned from regular math, science, and question and answer will help an individual achieve their desired output. Second, Intrapersonal is always a needed style. I can elevate the group with my own ideal and thoughts. Meaning before the group receive together I have mapped the things I would like to discuss. Most people have ideals what to bring to the group, but a need for more suggestions to break the ice and relax all members to project thoughts. Third, I would like to discuss about bodily-kinesthetic...
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...Economic Issues Simulation Paper Introduction The Economic Issues Simulation Paper is about Castor Health Plans. This health plan was founded in 1999 as a Regional HMO in the state of Pantome. The main purpose of Health Maintenance Organizations (HMOs) is to provide health care services and health insurance to enrollees through a statewide network of hospitals and physicians. The HMOs complete this by using a capitation model in which it pays its large network of health providers. Caster Health plan has thousands of enrollees throughout the state and is looking towards increasing the amount. As a representative for the Castor my responsibilities is to maximize profit and minimize risk for the company. Other responsibilities that I would need to help with are including plenty of interaction with any new clients and formulating health plans in that would suit the client’s needs, on top of all that this would also include pricing plans and setting insurance premiums. It’s never an easy job making any sort of financial Making any types of financial and economic decisions; making decisions for a business is a lot harder because one has to realize what is and will do best in order for the business to make profits and to grow. Castor will need to choose between two types of companies it will want to help cover with their health plan. The two companies that have been put in front of their health plan company are that of Constructit or E-editor. The simulation has a couple...
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...Health Care Economics Issues HMO Simulation Name University of Phoenix Economics: The Financing of Health Care HCS440 instructor date Health Care Economics Issues HMO Simulation Castor Collins is a health insurance company that offers health maintenance organization (HMO) to organizations. This health insurance company was founded in 1999 in Pantome. Two organizations are trying to seek coverage for their employees and have chosen to see what Castor Collins has to offer them. The two companies are Constructit and E-editor that are seeking policies for their employees. Each one of these companies has provided the demographics, health risks and maximum premiums they are willing to pay. The insurance company has three different plans they have to offer for these two companies .Castor Collins will review the company’s information and decided which plan is best for which company to see if they will be able to meet the companies’ needs. Castor Collins will also make sure their financial liability will not be too high. The three insurance plans Castor Collins has to offer is castor standard, castor enhanced, and castor enhanced minor. The castor plan and the castor enhanced plan offer the same type of services with little price different. The biggest difference between these two plans is the castor standard plan does not cover pre-existing conditions and the castor enhanced plan does cover pre-existing conditions. The castor enhanced minor plan is different from...
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...Economic Issues Simulation Paper HCS/440 University of Phoenix Individuals are encouraged to get insured, which serves as their proactive assurance of the possible risks that they may face in the future. By getting insurance, the person is able to minimize these risks. For instance, one may opt to buy insurance in order to have a fall back in case of a large loss or casualty, thus they can still be secure of a regular premium. Quite ironically, insurance has been one of the profit avenues of some companies. Profit can be gained in the insurance business because gaining the premium from the probability of a certain loss will still have a higher possibility of the same event to reoccur. Castor Collins Health Plans The main idea of insurance is letting the consumers or buyers give up a part of their money on a regular basis as their way of preparing for probable risks or losses. The clients of Castor Collins can choose between two plans of the company. The Standard plan will not cover the previous conditions, while the Castor Enhanced Plans can be used to cover up for the prior conditions of the client. Recently though, with the new Chief Financial Officer of the company, Helen Feuerman, the insurance company has come up with a better strategy that can provide them with greater profits. This is called the Castor Enhanced Minor. This new program basically eliminated all the company services that have a high...
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...Executive Summary The purpose of writing this report is to evaluate and provide sound advices to the company, Venture Simulation Ltd on its business simulation game, Sim Venture. Several recommendations will be given for future improvements based on the main business areas of the company. In recent years, the business simulation industry is growing rapidly. With outstanding product design and feature, more and more educational institutes and commercial organizations demand the business simulation to provide their students and staffs quality business and entrepreneurship learning. Since there is a potential market opportunity for the product, it is necessary to introduce a new product and implement an aggressive marketing strategy in the existing and new market in order to obtain sustainable competitive advantage for larger market shares. For scaling the venture, the owners emphasize the long lasting customer relationships to enhance the customer loyalty to the product. Effective intellectual property protection strategy must also be executed in order to prevent others from copying the simulation. Finally, several innovative strategies including effective marketing strategy, introduction of new product, penetrations of new markets are strongly recommended for better future business growth. Table of Contents Executive Summary Table of Contents 1. Introduction 1 2. Background of the Company 1 3. Market Opportunity 2 4. Product...
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...The online business simulaTion game ThaT makes learning fun! Player manual Contents game basics Starting a game Finding your way around 2 3 Core activities Ordering product Making sales Increasing your sales Hiring staff game score Key Indicators Game characters 4 6 Checking progress Current week Stock levels Purchase reporting systems Check effect of promotions Financial reports Customer comments options a-Z system requirements faQ: game sites 7 8 8 9 The online business simulaTion game ThaT makes learning fun! Game basics The Small Business Game is an educational game where you run your own sport franchise store (The Sports Store). Each full game starts at week 1 and moves through to week 52 when the game ends. You can leave and come back at any time – we will save the game from your last week of inputs. A game week is pretty much like any week in a retail sports store business. Each week customers come in, browse and (maybe) buy a product from you. Each week you need to make sure that you have enough stock for people to buy, manage your cash and keep you eye on what is happening. starting a game During the registration process you assigned a team. This selection will set up the branding to be used in the game. Once you have been registered for the game, to get started, follow these steps. Click, ‘play now’ from any screen in the web site. To start a new game, click on the ‘new game’ button. To restart...
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...REAL-TY-COON Alternative method of teaching is a very important tool to encourage students to learn in a fun and meaningful way. Simulation game is one of the ways to achieve that. A simulation game is a dramatic view of real life situations for the serious purpose of learning about real experiences in a controlled environment. Students of CEC from IIM Raipur created and conceptualized a simulation game, REAL-TY-COON. The main objective of the game is to replicate real life scenario of construction business. The game is based on the concept of demand and supply and how market prices of products are determined. The game consisted of 5 set of teams. 4 set of teams played the role of suppliers and 1 played the role of builders. The division of teams was done as follows: Team Type | Teams | No. of Players | Builders | 5 | 4 | Cement Suppliers | 3 | 2 | Sand Suppliers | 3 | 2 | Stone Suppliers | 3 | 2 | Steel Suppliers | 3 | 2 | The game has 5 rounds. In each round, builders have to build a specific building allocated to them. To build any of the buildings, they have to buy adequate amount of cement, stone, steel and sand from the suppliers. They will be provided with fixed initial amount of cash. Builders can approach bank to get additional cash at a fixed rate of 10% which will be applicable for that round only, carrying forward loan for each extra round will attract an additional 5% rate per round. In case the builders are not able to get a deal from the...
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...應 用 經 濟 論 叢 ， 89 期 ， 民 國 100 年 6 月 −153− The Dynamics Analysis and Simulation of the Macro Economic Behavior of Taiwan’s Invigorating Economy Consumption Voucher Wen-Chin Wei∗ Abstract Given the severe global economic downturn, countries are using a variety of possible economic policies to try to help their economies recover. This study adopts system dynamics from the dynamic perspective to investigate how Taiwan’s decision to issue time-limited consumption vouchers will influence macro economical behaviors. The simulation led to following primary results. First, in regard to the highest marginal propensity to consume (MPC = 0.3) and the lowest substitution rate of consumption (SR = 0.6741), the distribution of the consumption voucher will generate the biggest multiplier coefficient (0.6830) and Y (GDP). Second, as SR increases by 1%, the multiplier effect decreases by 0.44%. Third, the contribution percentages of consumption vouchers on the first, second, third, and the accumulated total of these three quarters of private consumption in 2009 ranged from 2.13-2.55, 0.25-0.30, 0.19-0.22, and 0.86-1.02 of a percentage, respectively. Meanwhile, the contribution percentage of consumption vouchers in the first, second, third and the accumulated total of these three quarters of GDP in 2009 ranged from 1.36-1.63, 0.15-0.18, 0.11-0.13, and ∗ Assistant Professor, Department of Public Finance & Taxation in National Kaohsiung University of Applied Sciences, Taiwan, Republic...
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...PERU E. M COLLINS COMMUNICATIONS SKILLS TERM PAPER ARGUEMENTATION STUDENT ID NO: D33/34238/2010 AN ARGUMENTATIVE RESEARCH PAPER ON RESEARCH TOPIC: WHAT IS SCIENCE? TOPIC: Dispelling Misconceptions; Physical and Natural Sciences are not superior over Social Sciences. TABLE OF CONTENTS Abstract. 3 Introduction 4 Recommendations 22 REFERENCES 25 Abstract. Science in general is a great and highly developed human enterprise. Its intricacies are clearly not limited to the scientists alone, but it is essential for the entire human race. If we think of science as a space within the larger space of society then it is at the interfaces between these two spaces that human beings are involved with science. To see this interface clearly from the space of science is not the same as seeing it as a mere collection of facts that should be construed to be true and nothing but the truth. Science is beyond facts, ideals and thoughts. It is a process and a model that has undergone tests, been tried, reviewed and accepted as a true representation of the processes and occurrences in the natural world However, due to the broad nature of science, and the work, time and resources involved in pursuit of knowledge in different science fields which entails different interests, and thereby different values too; and the different...
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