Hospitals in Arizona, New Mexico and Colorado are regulated on their emergency room fee schedules by a state hospital emergency room board. The board consists of representatives from all of the hospitals in the state. The board meets twice each year and
establishes the prices for emergency room care. The states have assumed a regulatory oversight rule because of the need for universal access for emergency care. The prices charged for emergency room care in these three states exceed the average charges in California, Utah, Nevada, Idaho, Oregon and Washington. Patients who experience the higher charges in Arizona, New Mexico and Colorado are concerned about the higher rates. Discuss any legal rights and remedies they may have.
Even when prices are established by a regulatory body, those prices can be challenged as anticompetitive if it can be shown that there was no meaningful oversight over the industry as it established its own rates. The patients may have a class action suit in which they could recover treble damages for the collusion via government agency.
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Public reporting on the effectiveness of internal control over financial reporting, as required by the Sarbanes-Oxley Act, includes:
A. a statement that the public accounting firm that audited the financial statements has provided input on the design of internal controls. B. a detailed statement describing changes or additions to the internal control environment that occurred in the current year. C. the auditor provides an opinion on whether the entity maintained, in all material respects, effective ICFR as of the specified date, based on the control criteria. D. an explicit statement as to whether management agrees with the public accounting firm's assessment of internal controls.
Costs that are incurred for monitoring and inspecting are:
a. prevention costs b. detection costs c. appraisal costs d. failure costs
Which of the following factors increases pressures for local responsiveness?
A. Powerful buyers B. Uniformity in distribution channels C. Host government demands D. Similarities in customer tastes and preferences E. Competitors that are based in high-cost locations
The best time to find out in which industry a prospective company resides is during an informational interview
Indicate whether the statement is true or false