Economics

Unit outcomes addressed in this Assignment: Describe the importance of health policymakers being familiar with basic economic concepts. Explain the role of economics in health care. Examine the use of economic models to help forecast the impact(s) of policy on health care delivery. Course Outcomes assessed/addressed in this Assignment: HA415-1: Demonstrate an understanding of the relevance of economic concepts within the healthcare sector. Cost and affordability are important factors in the successful delivery of healthcare to the people of this country. Economics can offer a framework to study the implications of individual decision making and help define the alternative mechanisms available to improve resource allocation. Sound policymaking is based on sound economic principles applied in a sensitive and uniform manner. Lessons can be learned from basic economics lessons about human behavior and the way individuals make decisions, respond to incentives, interact with each other, and about the efficient allocation of scarce resources. Instructions Describe trends in the costs of care for treating at least three diseases or conditions. Examine the burden of health care costs on businesses and governments and the extent to which Americans can afford needed care. Analyze trends in the efficiency of care delivery and the competitiveness of the delivery system and the key factors in keeping costs down. Requirements Writer describes trends in the costs of care for treating at least three diseases or conditions. The writer examines the burden of health care costs on businesses and governments and the extent to which Americans can afford needed care. The writer analyzes trends in the efficiency of care delivery and the competitiveness of the delivery system and the key factors in keeping costs down. In addition to fulfilling the specifics of the assignment, a successful paper must also meet the following criteria: be at least three pages in length follow the conventions of Standard English (correct grammar, punctuation, etc.); be well ordered, logical, and unified, as well as original and insightful; display superior content, organization, style, and mechanics include at least four scholarly sources Your paper should be in APA format and follow APA Guidelines, 6th ed., including properly formatted header and margins 12-point, double-spaced, Times New Roman font use of in-text citations title page and reference page use of headings (where applicable)  For more information on Cost and Affordability read this: https://en.wikipedia.org/wiki/Affordable_Care_Act

This is not a comprehensive list of resources. You can also try other sites such as Zillow, city or town websites, etc.You will gather data and extensively report on all the following items. You must provide the website hyperlinks for all references/citations for the data. Also, identify which group member, in parentheses, was responsible for each data item.1. Investigate the boundaries of your assigned zip code, not just the city/town. One member of the team should drive around the assigned zip code collecting observational data, i.e. condition of home, businesses and closures, industry presence, recreational facilities, schools, etc.2. Describe the history of one city or town in or near (if there is not one in the zip code) the zip code.3. Describe the zip code in terms of urban, suburban & rural environments.4. What type of housing is available (public, private, apartments, development, etc.)? Provide statistics on types of housing and ages of homes.5. Look up the demographics, population size and diversity and provide the data on the ethnicity, race, & gender.6. Provide data on the age of the population? List the breakdown across the lifespan.7. What is the income level for this zip code? Include single, female head of household vs. single, male head of household.8. What is the poverty level in percentage for this zip code and the State of Delaware? What is the federal poverty level in dollars. Consider how a family of four survives on this amount of income. Keep in mind that these dollars are pre-tax.9. What industry or small businesses are in the zip code?10. What is the air quality? What are the environmental risks? Obtain the rates of respiratory illnesses and cancers in this zip code.11. What are the crime rates and types of crime in the zip code?12. Are there any public parks, senior centers or other recreational facilities?13. How many healthcare facilities are in the zip code? Include hospitals, freestanding emergency rooms, nursing homes, walk-in clinics, surgery centers, etc.14. How may grocery stores/food markets, pharmacies, liquor stores & churches are there in the zip code?15. List all of the schools, public and private.Your group will send one email with your data collection for the items above to your assigned faculty member. We do not require any specific format but you must answer each data point. If you are having trouble finding the data, try Google. Send this as an attachment in a Word document. In the email, state the group letter (A, B, C etc.), members of the group and give a summary of the time spent on this activity. This email is due Day #1 by 1500 for day students and 2100 for evening students.

1.   Choose a topic of interest to you dealing with macroeconomic issues.  For example, students in the past have written about the merits of the minimum wage; trade deficit issues; the relationship between war, uncertainty, and the economy; benefits of free trade; the Fed and the interest rates, etc.  If in doubt, do not hesitate to ask me for advice.  Ensure that the topic you write about interests you since you will have to research the topic and provide a bibliography of your sources.  It is a lot easier to read about topics that have some interest to you than those in which you have no interest. 3.    The paper should consist of the following: Title Page Body of the Paper (5 double-spaced typed pages) Reference page where you list your sources (3 sources) The paper should address the major points of your various sources.  Feel free to add your own opinions to the analysis of your sources.  Don’t be shy about expressing your opinions.  Remember, in economics, everyone has an opinion. 4.     This is very important:  Do not be tempted to use other people’s material as your own.  Give credit where credit is due and list them in your Bibliography.  It is fine to paraphrase as long as you acknowledge the author.  As a reminder, plagiarism will result in a failing grade and be referred for further action. 5.     Good luck and have fun with the paper! For more information on Macroeconomic read this: https://en.wikipedia.org/wiki/Macroeconomics

 The overarching goal of revenue cycle management (RCM) is not only to reduce costs incurred by the provider but also to increase the quality of care availed to the patient. To enable this, the RCM is broadly divided into three key areas Front End, Mid Cycle, and Back End. Each of these three key areas is further divided into two to three distinct categories, each of which feeds into the next. (You may refer to the infographic provided in the lecture as a reference.) Which area and categories of the revenue cycle is most influential towards cost evaluation and containment? Which area and category of the revenue cycle is most influential towards the quality of care evaluation and improvement? For more information on RCM read this: https://en.wikipedia.org/wiki/Revenue_cycle_management

You are a manager at a local accounting firm, and Kate and Sam Smith are your clients.  It is the end of the year, and they have come to ask your advice on some tax planning strategies, as well as help preparing their tax return. Write a 4-page letter to Kate and Sam Smith which: Walks them through their current year tax return. The detail which expenses they incurred that were nondeductible for tax purposes and explain why. The Smiths have always itemized deductions instead of taking the standard deduction on their tax return.  Explain how this may no longer be the best tax strategy due to changes in tax law under the TCJA. Regarding the investment opportunities, you calculated in week 1, explain: Which investment opportunity you would recommend. What the conversion tax planning strategy is, and which of these investments employ this strategy.How “implicit taxes” may limit the benefits of the conversion strategy. Kate and Sam are considering purchasing a vacation home. They plan on spending several months each year vacationing in the home and renting out the property the rest of the year.  Provide an overview of the key tax considerations they should take into account when making this decision.For more information on Tax Planning  read this: https://en.wikipedia.org/wiki/Tax_avoidance

What are we looking for? Your answer can receive a maximum score of 5 points and will be graded according to the following rubric:  A: Content is original and does an excellent job to analyze the economic question(s). The submission is easy to read, transitions connect ideas well, and the arguments strongly support the conclusion. There is an excellent application of economic theory. There are little or no grammar, punctuation, word choice, and spelling errors. General result: The submission is very focused and nearly flawless. B: Content does a good job to analyze the economic question(s). Arguments are strong but there may be one or two transitions that are not smooth. There are up to a few errors in grammar, punctuation, word choice, and spelling errors. General result: The submission is focused but has a few imperfections. C: Response is appropriate but lacks a clear argument. Arguments are vague and/or incomplete. There is little organization to make the submission coherent. There are at least 6 errors in grammar, punctuation, word choice, and spelling. General result: The submission is adequate but lacks the depth and/or accuracy in an A or B submission.D/F: Response does not adequately address the question(s). There are few or no clear arguments. There is little, if any, coherence to the submission. There are at least 10 errors in grammar, punctuation, word choice, and spelling errors. General result: The submission does a poor job to address the question(s). Explain the mechanism through which taxes on gasoline reduce gasoline consumption. For more information on Econ read this: https://en.wikipedia.org/wiki/Econ 

The following describes the cash receipts process for a company: The mailroom staff consists of 35 clerks who receive and sort the general mail. Included in the mail are envelopes containing customer checks and remittance advice, which the clerks open to verify that the checks are signed and are constant in amount with the remittance advice. The checks and remittance advice are organized into batches and sent to the AR department where the AR clerk reviews them for correctness, posts to the AR sub-ledger. The clerk then prepares two copies of a remittance list. One of these is filed in the department along with the remittance advice and the other is sent to the cash receipts department with the checks. Upon receipt of the checks and remittance list, the cash receipts clerk reconciles the documents and post the checks to the cash receipts journal. At the end of the day, the clerk prepares a deposit slip and sends it along with the checks to the bank. Finally, the clerk summarizes the batch of cash receipts transactions and posts to the general ledger AR control account and the cash account. Required:  a. Describe the risks, if any that are inherent in the current system configuration.  b. Describe the controls, if any, that are needed to reduce or eliminate the risks identified in (a). For more information on The Revenue Cycle read this: https://en.wikipedia.org/wiki/Revenue_cycle_management

Please read the references and answer the question below. Please use APA format   Looking into the economic effects of the Pandemic on the Healthcare (HC) system, separate those who/what are affected into groups.  Who is suffering the most? (you will be surprised). References  Blumenthal, D., Fowler, S., et al (Sept 25, 2020).  COVID -19 Implications for the Healthcare System.  New England Journal of Medicine Retrieved from https://www.nejm.org/doi/full/10.1056/nejmsb2021088 (Links to an external site.) Hospitals and Health Systems Face Unprecedented Financial Pressures Due to COVID-19. American Hospital Association.  Retrieved from https://www.aha.org/guidesreports/2020-05-05-hospitals-and-health-systems-face-unprecedented-financial-pressures-due (Links to an external site.) Burrill, S., Betts, S., et al. (2020) Implications of the COVID-19 crisis for the health care ecosystem.  Deloitte.  Retrieved from https://www2.deloitte.com/content/dam/Deloitte/us/Documents/life-sciences-health-care/us-implications-of-the-covid-19-crisis-for-the-health-care-ecosystem.pdf

Starting from the European Monetary System in 1979, Europe embarked on a process that led to the Maastricht Treaty of 1992 and the creation of a common European currency, the euro. A common currency among different countries is something relatively new that has been attempted only a few times in history before (e.g., the West African CFA franc, the Central African CFA franc, and the Eastern Caribbean dollar). What are the advantages brought about by the euro to the countries that belong to the Eurozone? What are the challenges? Do you think this currency union is sustainable and will European Monetary Systembe successful going forward? Why? Why not? For more information on read this: https://en.wikipedia.org/wiki/European_Monetary_System

Discussion The discussion assignment provides a forum for discussing relevant topics for this week based on the course competencies covered. For this assignment, choose one of the following questions and post your initial response to the Discussion Area by the due date assigned. To support your work, use your course and text readings and also use outside sources. As in all assignments, cite your sources in your work and provide references for the citations in APA format. Start reviewing and responding to the postings of your classmates as early in the week as possible. Respond to at least two of your classmates. Participate in the discussion by asking a question, providing a statement of clarification, providing a point of view with a rationale, challenging an aspect of the discussion, or indicating a relationship between two or more lines of reasoning in the discussion. Complete your participation in this assignment by the end of the week. Question One: Bivariate Regression Regression analysis is a powerful and commonly used tool in business research. One important step in regression is to determine the dependent and independent variable(s). In a bivariate regression, which variable is the dependent variable and which one is the independent variable? What does the intercept of a regression tell? What does the slope of a regression tell? What are some of the main uses of a regression? Provide an example of a situation wherein a bivariate regression would be a good choice for analyzing data. Question Two: Types of Regression Analyses There are two major types of regression analysis—simple and multiple regression analysis. Both types consist of dependent and independent variables. Simple linear regression has two variables—dependent and independent. Multiple regression consists of a dependent variable and two or more independent variables. How does a multiple regression compare with a simple linear regression? What are the various ways to determine what variables should be included in a multiple regression equation? Compare and contrast the following processes: forward selection, backward elimination, and stepwise selection. Justify your answers using examples and reasoning. Comment on the postings of at least two peers and state whether you agree or disagree with their views. For more information on read this: https://en.wikipedia.org/wiki/Bivariate_analysis