Essay on "Healthcare Investment Risk"
Essay 4 pages (1072 words) Sources: 1
[EXCERPT] . . . .
The table below summarizes the analysis conducted:Castor Standards
Castor Enhanced
Castor Enhanced Minor
Pros
Cons
Pros
Cons
Pros
Cons
Patient
Low cost
Increased access and affordability
Decreased coverage
Extensive coverage and high quality
Higher cost and decreased affordability and accessibility
Medium cost
Medium accessibility
Risky and partial coverage
Provider
Low risk
Low profitability
Possibility for a higher profitability margin
Higher levels of risk assumed
Balance between risks and profit margin
Decreased profitability
Uncertainty of the risk assumed
Third party payer
Low cost
Increased access and affordability
Increased cost
Medium cost
In a nutshell, each of the three health care plans can be addressed at the level of the impacted stakeholder categories. In this order of ideas, the patients -- insurance buyers and the other individuals covered in the insurance form, such as immediate family members -- perceive the Castor Standard as an accessible package, with a limited coverage howeve
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At the level of the providers, the most profitable package is the Castor Enhanced, yet it is also the one which generates the highest risk, as materialization of the risk insured would lead to the company paying large amounts of its profits in medical bills. For both patients and the provider, the Castor Enhanced Minor is a difficult choice, since it integrates too many uncertainties and it could generate results based on hazard.
In the particular case of Castor Collins and its current situation, the formulated recommendation is for the company to make an offer of the Castor Standard for Constructit, and no offer for E-Editors. This decision is based on the following rationale:
E-Editors reveal a high risk due to obesity and obesity related conditions, meaning that the utilization of the insurance package would be intense, to even pose threats for the profitability of the health maintenance organization.
Constructit employs fewer people, but who are healthier and whose utilization rate would be increased. In such a setting then, the profitability margins of Castor Collins -- however decreased -- would have more chances for materialization.
Finally, the selection made indicates a high threshold for risk and a decision to invest in long-term sustainability. In other words, by choosing to serve Constructit with a standard insurance package, the health maintenance company commits to lower risks and gains, yet sustainable and low risk operations. This allows it -- in time -- to consolidate its position. In such a setting, it is recommended for the firm to devise a strategy for the future which focuses on sustainability, as well as business diversification. In terms of diversification, this refers specifically to the contraction of customers from other business segments as well, and the creation of other health care plans as well. Once the company has used a prudential policy to consolidate a stable position within the market, it should move on to the selection of customers and packages with higher margins for profits, as well as higher risk rates. For the time being however, Castor Collins should serve the standard package to Construcit as part of a strategy… READ MORE
Quoted Instructions for "Healthcare Investment Risk" Assignment:
“This paper is on Economic Issues Simulation paper. The uploaded document is where the contents/resource will come from. Listed below is what the paper should include.
You need to analyze (compare/contrast the pros/cons of Castor Std, Castor Enhanced, Castor Enhanced Minor policies for Constructit or E-Editors. Just make sure to review each of the 3 plan's details and list the pros/cons by stakeholder group (patient, provider, third-party payer) with consideration for costs, quality, and access to care provisions of each plan. Describe the company profile and needs. Examine the demographics and risk factors. Evaluate the costs and benefits of each package and provide your reasons for selecting a particular plan to offer the company. Make sure to identify which one is best in your summary with rationale/justification.
• The profile of the chosen company includes the demographics of the employees, the health care risk factors, and the premiums the company is willing to pay. • An analysis of the potential utilization is presented. • The selected plan to sell to this company is presented along with reasons why. • Reasons for not selecting the other plans is also given. • The paper is 1050 to 1400 words in length. • The introduction provides sufficient background on the topic and previews major points. • The conclusion is logical, flows, and reviews the major points • The paper—including the title page, reference page, tables, and any appendixes—is consistent with APA guidelines as directed by the facilitator. The paper is laid out with effective use of headings, font styles, and white space. • Rules of grammar, usage, and punctuation are followed; spelling is correct.
How to Reference "Healthcare Investment Risk" Essay in a Bibliography
“Healthcare Investment Risk.” A1-TermPaper.com, 2012, https://www.a1-termpaper.com/topics/essay/castor-std-enhanced/9642281. Accessed 4 Oct 2024.
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