Business Proposal Economic Analysis - 1552 Words

The United States health care system relies heavily on private health insurance, which is the main source of coverage for most Americans. According to the Center of Disease Control, approximately 58% of Americans have private health insurance. The primary public programs are Medicare, a federal social insurance program for seniors and certain disabled individuals and Medicaid, also referred to as Medical. These two are funded jointly by the federal government and states but managed at the state level, which covers certain very low income children and their families. Health advocacy companies initiated to become visible to assist patients muddle through the complexities of the healthcare system (Wikipedia, 2014). In 2010 President Obama†¦show more content†¦Estimates show that plans with a greater number of plan offerings are valued more (Dunn, 2010). Elasticity of Kaiser Heath Insurance There are several approaches to estimating the elasticity of insurance offered by employment companies. The first is to apply distinctions in the premiums expressed by them to identify their price consideration. Another approach is to use the distinctions in tax ratios over cities or sates to recognize the price elasticity of recommended insurance. Insurance plans often contain hundreds of plan features that affect out of pocket pay to consumers and may be changed as easily as the premium on the plan. These out of pocket pay benefits may be particular important in the market where a minor of beneficiaries are enrolled in zero premium plans and a large portion of beneficiaries income is spent on out of pocket pay. The demand reveals that out of pocket pay have a significant weight on surplus. There is a wide difference in the amount paid to different plans across the country, with HMO plans being paid more than traditional Medicare and PPO plans being paid even more (Dunn, 2010). The demand for health insurance may be elastic if an increase in price would lead to more than a decrease in subscribers. The HMO would lose profits by raising price. Elastic demand is necessary for there to be a motivation to reduce price (Enthoven, 1993). Marginal Cost Marginal Revenue Marginal revenue is calculated by dividing the difference in totalShow MoreRelatedBusiness Proposal: Economic Analysis1285 Words   |  5 PagesBUSINESS PROPOSAL ECONOMIC ANALYSIS 1 Business Proposal Economic Analysis This economic analysis is for a proposed medium sized company that targets to undertake consultancy services to health care institution on improving Patient Satisfaction Scores. In this section of the business proposal, information on the industry, the market, and customer profile is given. Hospitals are experiencing a surge in the volumes of demands for quality of care from patients and authorities. Patients make theirRead MoreIndividual Assignment: Strategic Plan1617 Words   |  7 PagesStrategic Plan, Part II: SWOT Analysis Introduction SWOT Analysis is a structured planning technique used to analyze a companys internal and external environment in a view to assess its current operational capabilities and market standing (Lancaster Withey, 2007). The internal environment shows the companys strengths and weaknesses whereas external environment entails the potential threats and opportunities which the company may face in the normal course of its business (Kotler, Brown, BurtonRead MoreRisk Management at Wellfleet Bank: All That Glitters Is Not Gold.1120 Words   |  5 PagesAssignment 1 Case Analysis – Risk Management at Wellfleet Bank: All That Glitters Is Not Gold. 1. Given its strategy, what kind of risks does Wellfleet Bank face? 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The Industrial Products Division manufactures custom made machine tools and has typical job processing time of severalRead MoreA Report On The Boot Foundation Essay1366 Words   |  6 PagesIntroduction: The Boot Foundation This business proposal aims at starting a new business, the Boot Foundation, as a solution to children poverty in New Zealand. The Boot Foundation sales all types of footwear, both men’s and women’s, and of multiple purposes. The Boot Foundation targets the premium market – the goal of Boot Foundation is to sell the shoes at a slightly higher cost than the industry average, so that the profit can be used to maintain the operation of the business and, at the same time, provide