...Business Research Methods, Part I Medicare is health insurance servicing people ages 65 or older, ages under 65 with certain disabilities, and any age with End-Stage Renal Disease (ESRD) or permanent kidney failure requiring dialysis or kidney transplant (Medicare, 2011). According to the US Census Bureau 65 years old and 85 years old population will increase significantly in 2030 and 2050 respectively. “The over 65 group will be twice as large. It will grow from 35 million, 12 percent of the US in 2000, to 71.5 million, and 20 percent of the total US population in 2030. The US Census Bureau projects that the population age 85 will grow from 5.3 million in 2006 to nearly 21 million by 2050” (Recht, 2009). In 2010 the U.S. Census Bureau reported an estimated population of 39 million for ages 65 and over (U.S. Census Bureau, 2012). Problem Statement The projected increase in the 65 years old and 85 years old population will have significant impact on Medicare. Will Medicare has enough resources or sufficient funding to cover the increase in the 65 years old population in 2030? Will Medicare has enough resources or sufficient funding to cover the increase in the 85 years old population in 2050? Research Questions Will the Medicare system be able to provide adequate funding to cover both age groups through 2050 and beyond? According to the 2011 Medicare trustee report (CMS.gov, 2011), Medicare has a higher rate of income than expenditures through 2020 under...
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...needs careful study because the protection should be shaped to the needs of the individual or the family. However, the task is simplified for many families because a foundation for their coverage is already provided by group health insurance at work. We begin the chapter by recognizing the importance of health insurance in financial planning and define health insurance. Then we analyze the benefits and limitations of the various types of health insurance coverage. Private and governmental sources of health insurance and health care are presented next, with a complete coverage of health maintenance organizations (HMOs). Then, we discuss the importance of disability insurance in financial planning and identify its resources. Finally, we explore why the costs of health insurance and health care have been increasing and what is being done to curtail them. |LEARNING OBJECTIVES |CHAPTER SUMMARY | After studying this chapter, students will be able to: |Obj. 1 |Recognize the importance of health |Health insurance is protection that provides payments of benefits for a covered sickness | | |insurance in financial planning. |or injury. Health insurance should be a part of your overall insurance program to | | | |safeguard your family’s economic security. Health insurance plans can be purchased...
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...1937 to 1942 the federal government collected a tax of $1 per ounce for such drugs” (Johnson, 2010, para 3). Today, the federal government has declared cannabis of all kinds illegal; however, 18 states have declared it legal for medicinal use only. Studies have been showing the impact legalization has been making on those legalized states, specifically Colorado and California are benefiting from medicinal marijuana by producing jobs, lowering state deficits, and showing a decreased crime rate. These findings offer an idea that the impact of national legalization of medicinal use marijuana may show true benefit to society. Since Marijuana is illegal at a federal level, if one is caught with this drug, it is a crime punishable by prison time. Attorney General Eric Holder made an announcement in October 2009 that the Department of Justice (DOJ) would work with the Non-Enforcement Policy (NEP) by stating they would no longer be enforcing the Federal regulations pertaining to the marijuana ban as long as those users were complying with state medical marijuana laws. This came as a relief to more than 400,000 users and their suppliers allowing them to feel confident and safe in their marijuana use (Mikos, 2011.). In 2007, a study showed individuals in jail from marijuana-related charges cost the United States prisons $1 billion annually (Armentano, 2007). Even if medical use marijuana were to be legalized nationally, does not mean this annual cost would disappear completely....
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...Health Improvement and Cost Reduction Plan (HICREP) Sammy Osei MPA/Healthcare Management Health Improvement and Cost Reduction Plan (HICREP) 2 INTRODUCTION Medicare, an entitlement program that provides healthcare benefits to seniors over 65 years old, patients with disability and those suffering from end stage renal diseases, contributes enormously to the rising cost of care in the United States. Key cost drivers within Medicare are the leading chronic diseases and its risk factors. This program plan institutes preventative educational and training programs to help minimize and alleviate ailments associated with major chronic diseases and its risk factors. The plan identifies demographic groups affected by leading chronic diseases, specifies target stakeholders, and justifies how their contribution impacts the program. This plan outlines program case statement detailing the mission, goals, objectives, organizational history and structure as well as plans devised for fundraising. The plan does a thorough problem analysis to identify unmet needs necessitating this intervention plan. This P Plan presents a financial statement that describes the tax status of the P-Plan and reports a year’s budget estimate with relevant financial policies that justifies and strategically integrates budget with objectives, goals and mission to ensure fiscal accountability and responsibility. A human resource structure is illustrated in this P-Plan detailing list of positions and job descriptions...
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...Group 3 Presentation TABLE OF CONTENTS Chapter l- Introduction Introductory paragraphs Statement of the problem Purpose Significance of the study Research questions Chapter ll- Background or Review of Literature Literature review Definition of terms Chapter lll- Methodology Restate purpose and research questions Population and sampling Instrumentation Procedure and time frame Analysis plan Validity and reliability Assumptions Scope and limitations Chapter lV Results Chapter V – Conclusions and Recommendations Summary Discussions Recommendations References Appendix Chapter I Introduction The Department of Human Services in Arkansas offers a variety of services. Group 3 will focus on five specific services. These services include: Transitional Employment Assistance (TEA), Medicaid, Supplemental Nutrition Assistance Program (SNAP) formerly known as food stamps, Child Care Assistance (CCAP), and AR Kids First. The Department of Human Services is required by state law to: help individuals and families meet financial, medical, and social needs; assist people to become self-sufficient; and help protect children and adults from abuse, neglect and exploitation. Group 3 researched these services to investigate qualifications and use of these services. Statement of the Problem The researchers of this study discovered that residents in Arkansas are becoming more dependent on government assistance. Because of the continuous growth in dependency, tax payers...
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...Bangor Family Physicians Case Study Executive Summary & Stakeholders Bangor Family Physicians is a partner based medical group practice located in Maine. The practice consists of four family practice physicians, and a medical support staff. The medical support staff is made up of a practice manager, two receptionists, four nurses, two medical assistants, two billing clerks, and a laboratory technician. Additionally, Bangor Family Physicians employs a CPA to assist with taxes and financial advising. The key stakeholders are the four family physician partners, in which each physician holds an equal stake in the practice. Bangor Family Physicians Reimbursement There are two determinants to reimbursement for Bangor Family Physicians: a monthly salary and yearly profits after accounting for reinvestments into the company. Since the foundation of Bangor Family Physicians in 1986, the practice has used an equal pay compensation model as the reimbursement scheme of choice. Profits that are above overhead costs at the end of the year are portioned out equally to each partner, thus determining the overall amount the physician receives for the year. While this type of compensation model discourages overutilization and allocates risk among all physicians, it negatively affects productivity and does not reward efforts to improve quality. Such a system can only work on the basis that all physicians have the same skill and productivity levels and are equally motivated to contribute...
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...Bariatric Surgery vs. Commercial Diets Odessa Whitehouse COM/155 May 26, 2013 Donna Jay An ABC 20/20 episode in 2012 states that there are about 108 million people on diets in the United States with dieters making four to five attempts at weight loss per year. The video also states that there is approximately $20 billion dollars in annual revenue in the weight loss industry, including diet books, diet drugs, and weight loss surgeries. Even though bariatric surgery is dangerous, it is comparable in cost and effectiveness to commercial diets, with proven, lasting results. According to the Obesity Action Coalition, “obesity is a rising health epidemic in our country”. More than 93 million Americans are affected by obesity, with an estimated 9 million considered severely obese. Over two-thirds (68.8 percent) of adults are considered to be overweight. Overweight is defined as more than normal in body weight after adjustment for height, body build, and age, or 10% to 20% above the person’s ideal weight, or having a body mass index (BMI) between 25.0 and 29.9. More than 1 in 20 (6.3 percent) adults are considered severely or morbidly obese. The prevalence of obesity is similar for both men and women (about 36 percent). About 3 of every 4 men are considered overweight or obese. Approximately 8 percent of women are considered severely or morbidly obese. Obesity is defined as an abnormal accumulation of body fat, usually 20% or more over an individual’s ideal body weight, whereas...
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...Loyola University Chicago’s Quinlan School of Business MBA in Healthcare Management program. He may be reached at dmoreno1@gmail.com. Hospitals have been looking for ways to improve quality and operational efficiency and cut costs for nearly three decades, using a variety of quality improvement strategies. However, based on recent reports, approximately 200,000 Americans die from preventable medical errors including facility-acquired conditions and millions may experience errors. In 2008, medical errors cost the United States $19.5 billion. About 87 percent or $17 billion were directly associated with additional medical cost, including: ancillary services, prescription drug services, and inpatient and outpatient care, according to a study sponsored by the Society for Actuaries and conducted by Milliman in 2010. Additional costs of $1.4 billion were attributed to increased mortality...
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...WELLPOINT About WellPoint WellPoint works to simplify the connection between Health, Care and Value. We help to improve the health of our communities, deliver better care to members, and provide greater value to our customers and shareholders. WellPoint is the nation’s largest health benefits company, with more than 33 million members in its affiliated health plans. As an independent licensee of the Blue Cross and Blue Shield Association, WellPoint serves members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as the Blue Cross Blue Shield licensee in 10 New York City metropolitan and surrounding counties and as the Blue Cross or Blue Cross Blue Shield licensee in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), and Wisconsin. In a majority of these service areas, WellPoint does business as Anthem Blue Cross, Anthem Blue Cross Blue Shield or Empire Blue Cross Blue Shield (in the New York service areas). WellPoint also serves customers throughout the country as UniCare. www.wellpoint.com Mission, Vision & Values What Makes Us WellPoint With an unyielding commitment to meeting the needs of our diverse customers, we are guided by the following principles: Our Mission WellPoint's mission is to improve the lives...
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...incubator for policy efforts that engage top political figures, advocates, academics, and business leaders in the art of principled compromise. This report is part of a series commissioned by the BPC to advance the substantive work of the Leaders’ Project on the State of American Health Care. It is intended to explore policy trade-offs and analyze the major decisions involved in improving health care delivery, and discuss them in the broader context of health reform. It does not necessarily reflect the views or opinions of Senators Baker, Daschle, and Dole or the BPC’s Board of Directors. The Leaders’ Project was launched in March 2008. Co-Directed by Mark B. McClellan and Chris Jennings, its mission is (1) to create a bipartisan plan for health reform that can be used to transform the U.S. health care system, and (2) to demonstrate that health reform is an achievable political reality. Over the course of the project, Senators Baker, Daschle, and Dole hosted public policy forums across the country, and orchestrated a targeted outreach campaign to Members of Congress, the Administration, and key health care constituencies. In June 2009, they released the Project’s final report entitled, Crossing Our Lines: Working Together to Reform the U.S. Health System, which includes a slate of comprehensive policy recommendations to address the delivery, cost, coverage, and financing challenges facing the nation’s health system. For more...
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...Forces and Trends Research Forces and Trends Research Firms that have achieved long-term profitability and sustainability acknowledge that strategic management is an enterprise-wide imperative. The dynamism, ever-evolving, and ever-threatened landscapes of today’s business environments make acquiring the knowledge of strategic management, or at least possessing a strategic mind-set, necessary for all employees. Pearce and Robinson define strategic management as the “set of of decisions and actions that result in the formulation and implementation of plans designed to achieve a company's objectives” (2004, p.3). This paper reviews six firms and the forces and trends in the remote and industry environments that affect them. The firms are Wellpoint, Inc, The Alzheimer’s Association, ABB Ltd., The Beth El Synagogue. AkzoNobel and Steinway Musical Instruments, Inc. Specific areas of focus within the remote environment include economic factors, social factors, buyer power, technological factors, political factors, ecological factors, and entry threats. Specific areas of focus within the industry environment include buyer power, product differentiation, industry structure, substitute products, entry threats, powerful buyers and suppliers, and jockeying for position (Pearce and Robinson, 2004). Research in forces and trends allows a corporation to better understand their [pronoun agreement: since the antecedent (corporation) is singular, the pronoun (their) must be singular...
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...Today’s healthcare institutions and providers strive to be safe places for patients to receive care, but past data indicates it has not always been so. The Institute of Medicine determined in the late 1990’s that 44,000 to 98,000 patients die from medical mistakes each year (Wachter, 2008). This tremendous number of deaths places medical care mishaps between the fifth and eighth leading causes of deaths in the United States (Kizer, 2001). In 2002, The Joint Commission established National Patient Safety Goals (NPSG) to help accredited organizations with patient safety in specific areas. An advisory group comprised of nurses, physicians, pharmacists, risk managers, clinical engineers, and others with appropriate experience advises The Joint Commission on how to address emerging patient safety issues. This group also periodically develops and updates the goals. The goals are grouped into broad categories and for 2011-2012, cover such categories as patient identification, health care-associated infections, improving communication, medication safety, reducing falls, and risk assessment. A discussion of selected elements underlying the current NPSG such as hand washing techniques, training, and lack of communication between healthcare personnel that can lead to medication errors, to falls, and even death, plus other related factors such as staffing shortages, problems with using outdated equipment, considerations in using the electronic medical records, and compliance with statutes...
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...Traumatic Brain Injury WUT2 Task Western Governors University A. Investigated Disease Process The disease process I will be reviewing is traumatic brain injuries. A traumatic brain injury occurs when sudden trauma occurs to an individual’s brain. Traumatic brain injuries are considered closed or penetrating. Traumatic brain injuries are categorized as mild, moderate or severe based on the amount of damage that occurs to the brain. (ninds.nih.gov, 2015) A1. Pathophysiology To understand traumatic brain injuries, we must first discuss the numerous causes of brain injury. When injury occurs to the brain, the patient encounters the primary injury that is directly related and occurs at the time of the injury. Secondary injury occurs as a result of the primary injury but often leads to a more significant sequela based on the type of initial trauma. Non penetrating injuries to the cranium that lead to traumatic brain injuries are not always related to direct blows of the cranium. Rapid acceleration and deceleration injuries along with compression injuries may lead to traumatic brain injuries. This type of injuries can lead to injuries to the brain tissue that could include compression, stretching and shearing injuries to the brain tissue. These type of injuries are classified as “diffuse axonal injuries”. Diffuse axonal injuries are one of the most common and extensive types of traumatic brain injuries. These injuries often lead to death or severe irreversible...
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...investment habits Create a winning budget Find the right retirement product for your needs What’s the future of Medicare? COMMENT BERT SCOTT Designing Products to Meet Your Financial Needs T hroughout our 87-year history, TIAA-CREF has been an innovator in the retirement investment field. We created the variable annuity, pioneered the use of real estate and foreign investing in pension plans and helped bring inflation-linked bonds to America. But stay tuned; there’s more to come. As the leader of TIAA-CREF’s Product Management area, I am proud to be part of the team that will be bringing you our newest products and services. At Product Management, TIAACREF’s “manufacturing” center, top-notch professionals develop new investment and insurance products and make sure those we already offer are still working for you. In a continually changing financial services marketplace, our mission remains simple: to provide the tools you need to help reach your financial goals. A large part of our work involves listening to you. This enables us to know what you need now, and what you may need down the road. So we begin the product design process by asking questions: What do you, our clients, want to accomplish? ■ How will those goals change over time? ■ What do you like about what’s currently available to you? ■ What do you need that we don’t offer? ■ As we study your answers, patterns emerge that guide us in creating new financial products and improving existing ones. Once we...
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...Coordinator for Health Information Technology (ONC) Federal Health Information Technology Strategic Plan 2011 – 2015 Table of Contents Introduction Federal Health IT Vision and Mission Federal Health IT Principles Goal I: Achieve Adoption and Information Exchange through Meaningful Use of Health IT Goal II: Improve Care, Improve Population Health, and Reduce Health Care Costs through the Use of Health IT Goal III: Inspire Confidence and Trust in Health IT Goal IV: Empower Individuals with Health IT to Improve their Health and the Health Care System Appendix A: Performance Measures Appendix B: Programs, Initiatives, and Federal Engagement Appendix C: HIT Standards and HIT Policy Committees Information Flow Appendix E: Statutes and Regulations Appendix F: Goals, Objectives, and Strategies Appendix G: Acronyms ONC Acknowledgements Notes 3 6 7 8 21 28 36 49 51 65 67 70 74 77 77 78 Goal V: Achieve Rapid Learning and Technological Advancement 43 Federal Health IT Strategic Plan 3 Introduction he technologies collectively known as health information technology (health IT) share a common attribute: they enable the secure collection and exchange of vast amounts of health data about individuals. The collection and movement of this data will power the health care of the future. Health IT has the potential to empower individuals and increase transparency; enhance the ability to study care delivery and payment systems; and ultimately achieve improvements in care, efficiency...
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