1. Explain the concept of the “imperfect marketplace” of the American healthcare delivery system. Then describe the affect the “imperfect marketplace” has upon government political intervention into the healthcare economic marketplace.
2. Describe why economic analysis of clinical and administrative innovations are important to the healthcare manager. Also, of the four types of economic analysis (cost minimum analysis, cost effectiveness analysis, cost utility analysis, and cost benefit analysis), discuss which of them is likely to be most useful to the healthcare manager.
3. All healthcare organizations must make a “profit” or they will go out of business. Several means to increase profits exist, including cutting costs and expanding or contracting output. Briefly describe the approach you would take as a healthcare administrator of a non-profit hospital in order to increase its profits.
4. First, Discuss how the understanding of healthcare economics can assist the healthcare administrator in determining whether it is financially feasible to set up an urgent care clinic. Then, discuss why an understanding of healthcare economics would be of little assistance in determining whether setting up such a clinic would meet favorably with consumers’ belief systems.