Milestone 2 health principles

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.

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 CA.

Tookes, H., Diaz, C., Li, H., Khalid, R., & Doblecki-Lewis, S. (2015). A cost analysis of hospitalizations for infections related to injection drug use at a county safety-net hospital in Miami, Florida. PloS one, 10(6), e0129360.

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.

Rubric
Critical Elements Exemplary (100%) Proficient (90%) Needs Improvement (75%) Not Evident (0%) Value

Economic Disparities Meets “Proficient” criteria and
analysis demonstrates strong
analytical skills through nuanced
comparison of theories

Accurately analyzes the
relationship between the
financial well-being of the
industry and availability of
healthcare, using market and
demand theories as support

Analyzes the relationship
between the financial well-being
of the industry and availability of
healthcare, but without market
and demand theory support or
with gaps in accuracy

Does not analyze the relationship
between the financial well-being
of the industry and availability of
healthcare

Economic Theories Meets “Proficient” criteria and
the quality and detail of the
conclusions evidences keen
insight into the application of
economic theory within the
healthcare environment

Determines what economic
theories are most applicable to
the healthcare industry and
explains conclusions in detail

Determines economic theories
that are applicable and explains
why, but lacks detail or accuracy

Does not determine economic
theories that are applicable and
explain why

Use of Economic
Principles

Meets “Proficient” criteria and
explanation evidences keen
insight into the economic impact
of organizational planning

Logically explains why individual
organizations utilize economic
principles for short-term and
long-term strategic planning

Explains why individual
organizations utilize economic
principles for short-term and
long-term strategic planning, but
with gaps in logic or detail

Does not explain why individual
organizations utilize economic
principles for short-term and
long-term strategic planning

Financial
Differentiation

Meets “Proficient” criteria and
comparison evidences keen
insight into the financial needs,
requirements, and impacts on
and for the two types of
organizations

Accurately differentiates
between for-profit and not-for-
profit healthcare organizations in
terms of finances and
organizational characteristics

Differentiates between for-profit
and not-for-profit healthcare
organizations, but not in terms of
finances and organizational
characteristics, or with gaps in
accuracy

Does not differentiate between
for-profit and not-for-profit
healthcare organizations

Economic
Differentiation

Meets “Proficient” criteria and
comparison evidences keen
insight into the nuanced
relationships between the type
of organizations and economic
policies and legislation

Accurately differentiates
between for-profit and not-for-
profit healthcare organizations in
terms of economic policies,
legislation, and recent changes

Differentiates between for-profit
and not-for-profit healthcare
organizations, but not in terms of
economic policies, legislation,
and recent changes, or with gaps
in accuracy

Does not differentiate between
for-profit and not-for-profit
healthcare organizations

Economic Policy and
Disparities in Care

Meets “Proficient” criteria and
analysis evidences keen insight
into the nuances of and varied
influences on the relationship
between economic policy and
care

Accurately analyzes the
relationship between economic
policy and disparities in care,
using current data

Analyzes the relationship
between economic policy and
disparities in care, but with gaps
in accuracy, or without using
current data

Does not analyze the relationship
between economic policy and
disparities in care

Policy Changes Meets “Proficient” criteria and
determinations provide a broad
view of healthcare economic
policy within the current
environment

Accurately determines the
impact recent legislation changes
have had on economic
healthcare policies in general

Determines the impacts recent
legislation changes have had on
economic healthcare policies, but
with gaps in accuracy or detail

Does not determine the impact
recent legislation changes have
had on economic healthcare
policies

Disparities Planning Meets “Proficient” criteria and
description effectively ties the
explanation to the real world
using examples and relevant
sources for support

Accurately describes why
disparities of care are factored
into healthcare strategic planning
with examples for support

Describes why disparities of care
are factored into healthcare
strategic planning, but with gaps
in accuracy or support

Does not describe why disparities
of care are factored into
healthcare strategic planning

Articulation of
Response

Submission is free of errors
related to citations, grammar,
spelling, syntax, and organization
and is presented in a professional
and easy-to-read format

Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization

Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact readability
and articulation of main ideas

Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas

Earned Total 100%

IHP 620 Final Project Milestone Two Guidelines and Rubric

Rubric

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