Opinion Article, Rje Vol: 6 Issue: 2
Evidence from Tiered Hospital Networks on Healthcare Demand under Simple Prices
Elena Prager*,
Department of Finance and Marketing, University of Stanford, Stanford, USA
Corresponding Author: Elena Prager
Department of Finance and Marketing, University of Stanford, Stanford, USA
E-mail: pragerelena@kellogg.northwestern.edu
Received date: 28 January, 2022, Manuscript No. RJE-22-56325;
Editor assigned date: 31 January, 2022, PreQC No. RJE-22-56325 (PQ);
Reviewed date: 15 February, 2022, QC No RJE-22-56325;
Revised date: 21 February, 2022, Manuscript No. RJE-22-56325 (R);
Published date: 28 February, 2022, DOI:10.4172/rje.1000109.
Abstract
When customers can easily analyses out-of-pocket costs, they respond to prices for complex healthcare, according to this study. Despite a lack of evidence that price shopping leads to lower-cost care for major medical services, healthcare cost containment measures are increasingly incentivizing it. In the highly simplified pricing information environment of insurance plans with tiered hospital networks, I show that consumers gravitate toward lower-cost hospitals. Within each of at most three hospital tiers, consumers see a single predictable, well-defined pricing that applies to a wide range of services. Partial-equilibrium savings are estimated to reach 8%-17% of baseline spending within three years.
Keywords: Hospital Networks
Introduction
When customers can easily analyses out-of-pocket costs, they respond to prices for complex healthcare, according to this study. Despite a lack of evidence that price shopping leads to lower-cost care for major medical services, healthcare cost containment measures are increasingly incentivizing it. In the highly simplified pricing information environment of insurance plans with tiered hospital networks, I show that consumers gravitate toward lower-cost hospitals. Within each of at most three hospital tiers, consumers see a single predictable, well-defined pricing that applies to a wide range of services. Partial-equilibrium savings are estimated to reach 8%-17% of baseline spending within three years.
Financial management is an aspect of financial activity. Financial management is an important branch in today's business administration. No one thinks of doing business without financial restrictions. Financial management is the adoption of public management principles for financial management.
Financial management with the help of financial management, cost accounting, budgeting and statistics, the profitable utilization of these funds, planning future activities and controlling current implementations and future developments. Findings: It is the responsibility of the financial manager to maintain the assets of the business. Wealth management plays an important role in financial management. In addition, the financial manager must ensure that the resources are available without any hindrance for the smooth running of the organization. A business can fail without financial failure. Financial failure also leads to business failure. Because of this strange situation the responsibility of financial management increases. It can be divided into long term fund and short term fund management.
Long-term investment decisions are called capital budgeting decisions, which involve a large number of long-term investments that are irreversible without large costs. Short-term investment decisions are called working capital decisions, which affect the day-to-day operations of a business. This includes decisions about the amount of money, inventory and acceptability. Financial statements are important for financial modeling and accounting.
In this section of Financial Statement Analysis, we will evaluate the performance of the business. We will take several items in the income statement and compare it with the capital assets of the company in the balance sheet. Learn more about money, its importance, and the purpose of financial analysis. Financial statements analysis is the process by which a company's financial statements are reviewed and analyzed to make good financial decisions. Financial analysis is used to assess economic trends, set monetary policies, build long-term business activity plans, and identify investment projects or companies. This is achieved using the financial numbers and data synthesis. A financial analyst must scrutinize the financial statements of a company - the statement of income, the balance sheet, and the statement of cash flow.
Modern science's credibility is based on the perception of its scientists' objectivity, yet financial conflicts of interest can jeopardies that credibility. The US Public Health Service and the National Science Foundation issued standards on the declaration of financial interests in grant bids that went into effect on October 1, 1995. A number of scientific journals have also set policies for authors and editors that are relevant. The goals of this study were to: (1) Examine the hypothesis that significant numbers of authors of articles in life science and biomedical journals have verifiable financial interests that might be important for journal editors and readers to know, and (2) Examine the hypothesis that significant numbers of authors of articles in life science and biomedical journals have verifiable financial interests that might be important for journal editors and readers to know. This study examines the frequency of certain financial interests held by lead authors of specific types of scientific publications, as well as author and journal disclosure standards.
These goals were applied to a pilot study of academic scientists from Massachusetts who was mentioned as first or last author in at least one publication published in 1992 in 14 top journals of cell and molecular biology and medicine. We built a database that included every original article published in 14 leading life science and biomedical journals in 1992, as well as data from (1) Massachusetts biotechnology companies, including their officers and scientific advisory boards, and (2) Scientists listed as inventors on patents or patent applications registered with the world intellectual property organization. We looked at 789 articles published in 14 scientific and medical publications by 1,105 university authors from Massachusetts institutions in 1992. If authors are listed as inventors in a patent or patent application closely related to their published work, serve on a scientific advisory board of a biotechnology company, or are officers, directors, or major shareholders (beneficial owner of 10% or more of stock issued) in a company with commercial interests related to their research, they are said to 'possess a financial interest. We measured the following frequencies for lead authors using the criteria on the reference population of journals and Massachusetts academic authors: 0.20 for serving on a scientific advisory board; 0.07 for being an officer, director, or major shareholder in a biotechnology firm; and 0.22 for being listed as an inventor in a related patent or patent application. The combined frequency of papers with a lead author who fits one of the three characteristics in the journals reviewed is 0.34.
At least one Massachusetts-based author has a financial interest in one of the papers in our sample, and 15% of the writers in our sample have a financial interest in one of their publications. The rate of published voluntary disclosures of financial interest (as defined in our study) is almost zero for the year 1992, although just handful scientific and biomedical journals mandated any such disclosure to journal editors and reviewers at the time. The effectiveness of mandatory disclosure rules imposed by some publications requires more research.
