managed care firms are considered to be suppliers of both health insurance and health care. Economics tells us that rational firms make choices to maximize profits. Managed care firms incur cost when providing health care services to their enrollees and maximize their revenue by providing health insurance. Castor Collins Health Plans Castor Collins Health Plans was founded as a regional HMO in 1999. The HMO provides health insurance and health services to enrollees through its statewide network
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complicates “decision making” in these markets. This simulation paper deals with decision making issues from the perspective of Castor Collins, which is a health maintenance organization. The history Castor Collins health plan continues to provide health insurance and health services to its enrollees throughout the state of Pantone. Since “the year of 1999”, Castor Collins health plans provide its enrollees with statewide network of physician and hospitals by using a capitation model to pay its
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Castor Collins Health Simulation Tenisha Spears HCS/440 June 28, 2011 Frank Kingsland Castor Collins Health Simulation Castor Collins health care was establishes as a regional HMO in 1999. Castor Collins health care serves over 100,000 enrollees and is looking to grow in the future to come. I am the vice president of Strategy and Financial Planning at Castor Collins. My job at Castor Collins is to interact with new clients, to formulate health plans that better suit the clients
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Economic Impact on HMOs Health care insurance has always been a hot commodity for people in the United States. Over the course of the past decade the demand has become even greater. Health care reform has implemented laws that state the employers must offer health insurance. Because of this companies are looking for ways they can offer insurance with the lowest possible impact on their administrative budget. This is no easy task, but there are insurance companies that offer plans that will work
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Gross I am the vice president strategy and financial planning for Castor Collins Health Plan. My job description consists of on a daily basis is interacting with new patients and formulating health plans that will suit their needs also including pricing plans and setting insurance premiums. The HMO provides health insurance and health care services to enrollees through it statewide network of physicians and hospitals. Castor Collins currently has 100,000 enrollees throughout the state and is looking
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offer a wide range of health services insurance through a network of providers dealing with supplying services to they member. Self-funded health care benefit plans, individual and other entities as a connection with health care providers or hospital on a prepaid basic. In this stimulation I will review the company demographic, the HMO plans, an overview of castor Collin plans, reason why each plan could be selected and reason for my decision. Castor Collin health plan was founded in 1990 in Pantone
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offer a wide range of health services insurance through a network of providers dealing with supplying services to they member. Self-funded health care benefit plans, individual and other entities as a connection with health care providers or hospital on a prepaid basic. In this stimulation I will review the company demographic, the HMO plans, an overview of castor Collin plans, reason why each plan could be selected and reason for my decision. Castor Collin health plan was founded in 1990 in Pantone
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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
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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
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Simulation I am Mary Mulanax I am the Vice President, Strategy and Financial Planning at Castor Collins. My duties include pricing plans and setting insurance premiums for our potential clients. Castor Collins was approached by two companies looking for employer insurance and both companies have a set rate their employees are able to pay for premiums since both groups will have to pay for his or her own insurance (Axia College, 2006). The first company is Constructit that consist of 1,000 people and
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