Healthcare economics

1- In a family gathering conversation (with proper social distancing!) one of your cousins says that he believes everyone should have the non-negotiable right to not wear mask or facial covering even in public and closed areas where there are a lot of people gathered in a place (such as grocery stores). He believes that this should be the case regardless of the higher case fatality and transmissibility of the disease. Using the concepts of contagiousness and externalities in health how you would argue against this believe (2 points)

2- Considering the demand curve and function for the flu shot below, explain the changes to demand curve (shifting right or left) or movement along the demand curve in any of these scenarios, ceteris paribus (6 points)

Demand curve function: Q= 11- 0.1P

a) A research study finds that flu shot can also prevent Pneumonia.

b) A news report says that flu shot can prevent you from enjoying cookies (you are a cookie-lover).

c) Your insurance pays for your flu shot and you don’t need to pay a penny.

d) The out-of-pocket payment for flu shot increases from $12 to $68.

Sample Solution

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Healthcare economics

Can you help me understand this Business question?

The Stand-Alone Project for this course requires you to act in the role of a consultant to a physician who wants to establish “Oakville Open MRI Clinic.” Dr. Hughes, introduced in Assignment #6, is the physician in charge of exploring the development of an Open MRI Clinic, which will be a part of Oakville Hospital. The proposed MRI clinic will be the only “open” MRI operation in Oakville County. There are “open” units in Memphis, which is about 200 miles away, and there are many “closed” MRI facilities in the County. Oakville Hospital has highly regarded neurological and radiology groups. Many aging baby boomers live in Oakville County. There is a shortage of radiology techs needed to staff the Open MRI.

Dr. Hughes wants you to complete a draft of a business plan. The previous consultant completed the Mission Statement, SWOT analysis, and Strategies sections of the Plan. Your function is to draft any applicable economic, budgeting, and financial analysis sections, and to make conclusions and recommendations based upon your analysis. Your Stand-Alone Project responses should be both grammatically and mechanically correct, and formatted in the same fashion as the project itself. If there is a Part A, your response should identify a Part A, etc. In addition, you must appropriately cite all resources used in your response and document in a bibliography using APA style. (300 points)

NOTE: It may be helpful to revisit Lesson #6 and the articles that discuss the format of a formal business plan. Also, perform sufficient research on Open MRIs to perform the economic analysis for this project. Keep in mind that you are primarily interested in developing the feasibility analysis for this project. You do not need to write an Executive Summary. As previously stated, you do not need to draft a mission statement, SWOT analysis, or devise strategies. However, you are free to develop any other aspect of a typical business plan you find applicable to the facts as stated in this problem or based upon your research.