The expanded use of prospective payment in hospitals has changed the nature of competition in that market. Which of the following statements is true?
a. The switch to DRG payments in the 1980s has actually had little effect on competition because so much of hospital spending comes from the federal government.
b. Because patients pay such a small percentage of hospital bills, prospective payment has had little effect on hospital operations.
c. Savings from prospective payments are substantial and due primarily to fewer hospital admissions and shorter hospital stays.
d. After an initial drop in operating margins shortly after the introduction of DRGs, Medicare margins have improved and most hospitals are generating 5-8 percent surpluses on all their Medicare business.
c. Savings from prospective payments are substantial and due primarily to fewer hospital admissions and shorter hospital stays.
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Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, what is the market quantity supplied at a price of $5?
A) 3 B) 12 C) 15 D) 27
In November 1995 the labor force in Aberdeen, South Dakota, was 14,800 . There were 14,483 persons employed. The local unemployment rate:
a. was 1.2 percent. b. was 2.1 percent. c. was 5.6 percent. d. was 7.1 percent.
A general definition of the "transmission mechanism" is: the routes or channels that ripple effects created in the
A) market for goods and the services travel to affect the money market. B) money market travel to affect the market for goods and services. C) labor market travel to affect the market for goods and services. D) market for goods and services travel to affect the labor market. E) none of the above
The second half of the 1940s was a period of
A. recession. B. no economic growth. C. very slow economic growth. D. fairly high economic growth.