Prompt: In the first part of the course, we have applied foundational economic principles to the healthcare industry. For the first part of your final project, you will analyze these same microeconomic and macroeconomic principles and their impact on healthcare markets, healthcare service, and organizations. In this milestone, you will apply the knowledge you have gained through the first half of the course, as well as research current economic environments and legislative changes to gauge the impact on the healthcare industry through a policy research report.

In Milestone Two, you will submit your draft of the policy research report. Based on instructor feedback and direction, you will revise your policy research report for the final submission of the policy research and organizational analysis report in Module Nine.

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Econ Principles Milestone 1

Precious Teasley

Southern New Hampshire University  

IHP-620-Q1591 Economic Principles- healthcare 22TW1

Dr. Scott

September 6,2022

The primary teaching facility for the Leonard M. Miller School of Medicine at the University of Miami is the accredited, non-profit Jackson Memorial Hospital. Jackson Memorial Hospital, which has more than 1,550 licensed beds, serves as a referral facility, attracts researchers, and is the location of the Ryder Trauma Hospital, the only adult and pediatric Level 1 trauma center in Miami-Dade County. The primary teaching facility for the Leonard M. Miller School of Medicine at the University of Miami is the accredited, non-profit Jackson Memorial Hospital (Jackson et al., 2002). Jackson Memorial Hospital, which has more than 1,550 licensed beds, serves as a referral facility, attracts researchers, and is the location of the Ryder Trauma Hospital, the only adult and pediatric Level 1 trauma center in Miami-Dade County.

Patients bear a significant financial burden due to lower insurance payments. In addition, COVID-19 pandemic victims and their families are being compelled to pay extra for even simple and commonplace services due to job loss or layoffs. The patient is now the third-largest payer, after Medicare and Medicaid, according to Jackson Hospital’s vice president of revenue cycle; therefore, the financial risk these developments posed to Jackson Hospital had to be addressed.

The management aimed to implement contemporary methods to involve patients early in discussions about financial obligations, payment alternatives, and agreements (Jackson et al.,2002). To improve patient collections, Jackson Hospital looked for effective ways to convey patient balances and payment choices for services provided. Among the objectives were lowering collection expenses and raising patient satisfaction. A $1.2 billion, not-for-profit, independently run acute care hospital, Jackson Hospital is located in a working-class neighborhood with blue-collar residents (Tookes et al., 2015). Their population’s payer mix is 56% Medicare, 11% Medicaid, and 6% self-pay, and their patients’ average credit scores are under 600. From the financial statements available, this organization has no notable spike in revenue attributable to increased injuries and accidents related to the ice during the winter season.

References

Jackson, C. A., Derose, K. P., Chiesa, J., & Escarce, J. J. (2002). Hospital Care for the Uninsured in Miami-Dade County. Hospital Finance and Patient Travel Patterns. RAND CORP SANTA MONICA

IHP 620 Final Project Milestone Two Guidelines and Rubric

Prompt: In the first part of the course, we have applied foundational economic principles to the healthcare industry. For the first part of your final project, you
will analyze these same microeconomic and macroeconomic principles and their impact on healthcare markets, healthcare service, and organizations. In this
milestone, you will apply the knowledge you have gained through the first half of the course, as well as research current economic environments and legislative
changes to gauge the impact on the healthcare industry through a policy research report.

In Milestone Two, you will submit your draft of the policy research report. Based on instructor feedback and direction, you will revise your policy research report
for the final submission of the policy research and organizational analysis report in Module Nine.

Your policy research report should address the following elements:

I. Economic Theories and Principles:
A. Economic Disparities: Analyze the relationship between the financial well-being of the industry and availability of healthcare, in consideration of

market and demand theories.
B. Economic Theories: What economic theories are most useful when applied to the healthcare industry and why?
C. Use of Economic Principles: Why do organizations utilize economic principles to guide strategic short-term and long-term decision making?

II. For-Profit and Nonprofit:
A. Financial Differentiation: What differentiates for-profit and nonprofit healthcare organizations financially? What characteristics of each type of

healthcare organization make the organizations different?
B. Economic Differentiation: What differentiates for-profit and nonprofit healthcare in terms of economic policies and legislation? What key recent

and current economic policies impact each?

III. Policy, Changes, and Disparities:
A. Economic Policy and Disparities in Care: Using current research and information (within the last five years), analyze the relationship between

economic policy and disparities in care. How are they connected? How do they differ?
B. Policy Changes: What impact do recent legislative changes have on healthcare economic policy in general?
C. Disparities Planning: Why are disparities of care factored into healthcare strategic planning? Explain your reasoning and provide examples for

support where appropriate.

Guidelines for Submission: Your report should be in APA format and all resources and references should be cited appropriately. A well-written, concise report
will fall within the range of 4–6 pages, not including references and title page.