Econ Ch. 9
Terms
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- a weighted average of the prices of a fixed basket of goods and serviices purchased by a typical urban household
- Consumer price index (CPI)
- increase in the average price level
- inflation
- health care payment made by someone other than the patient's family
- third-party payment
- a government program providing medical coverage largely to elderly people
- medicare
- a gov't program providing medical coverage for eligible low-income people
- medicaid
- benifits depend on low-income status as defined by law
- means-tested
- one of approximately 490 categories into which a medical diagnosis might fall. the DRG determines the prospective payment by Medicare
- Diagnosis-related group (DRG)
- flate rate paid a hospital by Medicare to treat a particular patient having a given diagnosis
- prospective payment
- medical doctors' control of demand for medical procedures
- physician sovereignty
- practice of recovering the unpaid costs of some patients by charging higher prices to other patients
- cost shifting
- insurance carried by health care professionals to protect them from large malpractice damage awards
- malpractice insurance
- ordering of unnecessary tests and services solely to protect oneself from charges of malpractice
- defensive medicine
- returning government functions to the private sector
- privatization
- type of insurance in which the purchaser makes paymetns into an account that can be drawn against in times of illness
- medical savings account
- a health insurance plan under which the covered care is limited to designated providers and the use of services is coordinated by a patients' primary care physician
- health maintenance organization (HMO)
- a health insurance plan under which a group of medical providers contract to provide the insured patient's medical care at discounted rates
- preferred provider organization (PPO)
- gov't program ensuring universal and comprehensive coverage of the population
- national health insurance
- payments on an annual or per-service basis that must be made by the insured person before the insurance company's payments begin
- deductibles
- percentage of medical expenses remaining after the deductible, which the insured person must pay
- coinsurance payments
- taking a larger percentage of lower incomes than of higher incomes
- regressive
- a measure of the total output (and income) produced in a nation in one year
- Gross domestic product (GDP)