Week 1 – Assignment: Create a Health Services Economic Glossary
This week, you will begin your journey with the scenario provided, designed to be used throughout the next six weeks, and culminating with the Signature Assignment: Develop a Business Plan for An Integrated Outpatient Clinic and Ambulatory Surgery Center
Scenario Introduction: Thanks to outstanding academic work, you have been awarded an 8-week paid internship in the Health Economics and Statistics department located in the Corporate offices of HEALTH!, a large integrated healthcare delivery system serving several thousand members through several regional facilities. HEALTH! has its insurance plan. Medicare, Medicaid, and other private insurance plans are also accepted. A closed panel of physicians, FOR HEALTH!, provides care and is licensed as a for-profit entity. Several reimbursement strategies, such as bundled payments and value-based reimbursement comprise the main source of income. The corporate-level offices of Health Economics and Statistics also provide advice and develop plans for HEALTH’s regional facilities. In your capacity as a Health Economics intern, you will work on both corporate and regional projects. The Health Economics and Statistics Department reports to HEALTH!’s Senior Vice-President, who reports to the HEALTH! president. You want to impress through your ability to quickly learn and present information to others. Traditionally, the successful completion of an internship means a position as an entry-level health economics analyst: your goal!
1.Using the Week 1 Introduction to Economic Theory, the required course resources, and supplemental resources, you will develop a glossary containing at least 10 economic terms and concepts. Five of these terms and/or concepts may come from the Week 1 course content, the other five must come from assigned readings. This glossary will demonstrate your understanding of basic economic terminology and concepts. A glossary is a list of terms or concepts.
2. For each concept or term explain the relevance to health services.
3. Include one current example of an economic concept found in Becker’s Hospital Review to demonstrate a current application of the concept.
Length: At least one-half page for each term or concept. A total number of 4-6 pages, excluding title and reference pages.
