Describe the basic structure and services financed by Medicare and Medicaid

Correct Answer: A

Rationale: The correct answer is A because Medicare covers hospital care, outpatient services, and prescription drugs, while Medicaid primarily covers long-term care and physician visits. Emergency services are typically covered by both Medicare and Medicaid, but they are not the primary services financed by these programs. Medical equipment is covered by Medicare but not as a core service. Hospital care, physician services, and emergency services are not the complete range of services covered by Medicare and Medicaid.

Correct Answer: B

Rationale: The correct answer is B: Assessment, policy development, assurance. Public health professionals require these core competencies to effectively assess community health needs, develop evidence-based policies, and ensure the delivery of essential health services. Research skills and program management (Choice A) are important but not specific to public health. Marketing skills and financial management (Choice C) may be useful but are not core competencies. Clinical expertise and patient care knowledge (Choice D) are more relevant to individual healthcare providers, not public health professionals.

Correct Answer: D

Rationale: The correct answer is D: All of the above. The ACA is a comprehensive law that includes multiple provisions aimed at reshaping the healthcare sector. A: A reform in payment methodologies such as bundled payments, medical homes, and accountable care organizations is a major provision of the ACA. These payment reforms aim to incentivize providers to deliver high-quality care efficiently. B: Reducing Medicare spending through penalties for readmission rates, payment reductions, quality improvement incentives, and the establishment of an advisory review board is another key provision. This helps control costs and improve the quality of care. C: Expanding insurance coverage through regulations, subsidies, and the creation of insurance marketplaces is also a major focus of the ACA. This provision aims to increase access to healthcare for millions of Americans. Therefore, all of the choices are major provisions of the ACA focused on reshaping the healthcare sector.

Correct Answer: C

Rationale: The correct answer is C: Risk and uncertainty. This is because risk and uncertainty in healthcare can lead to financial instability, affect patient outcomes, and impact decision-making processes. Risk management and mitigation are crucial in ensuring the sustainability and quality of healthcare services. A: For-profit versus not-for-profit tax and operating statuses - While important, this challenge does not have as significant of an impact on the healthcare industry overall compared to risk and uncertainty. B: Advancements in technology and institutional changes - While these advancements are significant, they are not the most impactful challenge facing the healthcare industry today. D: Insurance - While insurance plays a critical role in healthcare, it is not the most significant challenge compared to risk and uncertainty.

Correct Answer: D

Rationale: The correct answer is D, "All of the above." Economics is valuable for managers because it helps them focus on key issues in various industries, provides a framework for strategic decision making, and enables them to think about costs, value, and price. Understanding economic principles allows managers to make informed decisions, allocate resources efficiently, and ensure the long-term sustainability of their organizations. Each of the choices - A, B, and C - highlights a different aspect of how economics benefits managers, making D the most comprehensive and accurate option.