Assignment: Price Elasticity Paper
Assignment: Price Elasticity Paper
ORDER NOW FOR AN ORIGINAL PAPER ASSIGNMENT : Assignment: Price Elasticity Paper
Assignment: Price Elasticity Paper
Price Elasticity
You are the administrator for a medical practice. Assume all of your practice’s patients are covered by insurance. Insurance pays, on average, 80% of your fee for a physician visit for which your practice charge is $100. The patient is responsible for the $100 fee but receives 80% back from the insurer. Currently, your practice’s volume for this service is 1,500 per year. Answer the following question in regard to this assumption:
Assignment: Price Elasticity
Estimate what would happen to the volume of services and the expected revenue to the practice, should the area’s health insurers increase patient cost sharing from 20% to 30% of this charge. Use the concept of price elasticity to make the projection.
Use the elasticities given in Wedig’s, 1988 study: Price elasticity for physician visits for patients in good or excellent health is 0.35, while the price elasticity for physician visits for patients in fair or poor health is 0.16.
After a quick survey, you decide that 65% of the practice’s patients are in at least good health and account for 1,000 of the 1,500 visits. The remaining patients are in fair or poor health. In light of this survey, write out all the steps of the calculation.
Write answers separately for patients in each category of health status excellent, good, fair, and poor for all patients.
Reference:
Wedig, G. J. (1988). Health status and the demand for health: Results on price
elasticities. Journal of Health Economics, 7(2), 151 163. Retrieved from
http://ideas.repec.org/a/eee/jhecon/v7y1988i2p151-163.html
You must proofread your paper. But do not strictly rely on your computer’s spell-checker and grammar-checker; failure to do so indicates a lack of effort on your part and you can expect your grade to suffer accordingly. Papers with numerous misspelled words and grammatical mistakes will be penalized. Read over your paper – in silence and then aloud – before handing it in and make corrections as necessary. Often it is advantageous to have a friend proofread your paper for obvious errors. Handwritten corrections are preferable to uncorrected mistakes.
Use a standard 10 to 12 point (10 to 12 characters per inch) typeface. Smaller or compressed type and papers with small margins or single-spacing are hard to read. It is better to let your essay run over the recommended number of pages than to try to compress it into fewer pages.
Likewise, large type, large margins, large indentations, triple-spacing, increased leading (space between lines), increased kerning (space between letters), and any other such attempts at “padding” to increase the length of a paper are unacceptable, wasteful of trees, and will not fool your professor.
The paper must be neatly formatted, double-spaced with a one-inch margin on the top, bottom, and sides of each page. When submitting hard copy, be sure to use white paper and print out using dark ink. If it is hard to read your essay, it will also be hard to follow your argument.
Use the following coupon code :
NPS15
The post Assignment: Price Elasticity Paper appeared first on Savvy Essay Writers.
