Description
FM004: Economic Concepts in the Healthcare Industry: Apply key economic concepts and theories in the healthcare
context.
Assessment Rubric
Rubric Criteria
Needs Improvement
Meets Expectations
Exceeds Expectations
Leadership Orientation Pamphlet on Healthcare Financial Management
Learning
Objective 1.1:
Define healthcare
economic
concepts.
Pamphlet does not define, unclearly
or inaccurately defines the following
healthcare economic concepts:
• Cost benefit analysis
• Cost effectiveness
• Quality-adjusted life year
• Value of life (payments)
Pamphlet does not include
references to academic/professional
resources and examples to
demonstrate the application of the
concepts, or the resources and
examples are not relevant.
Learning
Objective 1.2:
Explain the
importance of
economic concepts
to healthcare
administrators in
relation to
© 2021 Walden University
Pamphlet does not explain or
unclearly or inaccurately explains
the importance of economic
concepts to healthcare
administrators in relation to
healthcare spending and healthcare
economic policies to control
spending.
Pamphlet clearly and
accurately defines the
following healthcare
economic concepts:
• Cost benefit analysis
• Cost effectiveness
• Quality-adjusted life
year
• Value of life
(payments)
Pamphlet includes references
to academic/professional
resources and examples to
demonstrate the application
of the concepts.
Pamphlet clearly and
accurately explains the
importance of economic
concepts to healthcare
administrators in relation to
healthcare spending and
healthcare economic policies
to control spending.
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet provides at least
one specific example of
how each of these
concepts apply to their
specific healthcare setting
or one in which they are
familiar.
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet provides
specific examples of how
healthcare administrators
1
Rubric Criteria
healthcare
spending and
healthcare
economic policies
to control spending.
Learning
Objective 1.3:
Describe the role of
supply and demand
in healthcare.
Needs Improvement
Meets Expectations
Pamphlet does not include
references to academic/professional
resources, or the resources are not
relevant.
Pamphlet includes references
to relevant
academic/professional
resources.
Pamphlet does not describe,
unclearly or inaccurately describes
the role of supply and demand in
healthcare and its usefulness as a
tool for the healthcare administrator.
Pamphlet clearly and
accurately describes the role
of supply and demand in
healthcare and its usefulness
as a tool for the healthcare
administrator.
Or pamphlet does not include the
demonstration of supply and
demand in healthcare through the
use of at least one example of
goods, services, and labor markets.
Pamphlet does not include
references to academic/professional
resources, or the resources are not
relevant.
Learning
Objective 1.4:
Describe the
relationship
between income
© 2021 Walden University
Exceeds Expectations
apply economic concepts
and policies to control
healthcare spending.
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet includes the
demonstration of supply
Pamphlet includes the
and demand in healthcare
through the use of more
demonstration of supply and
demand in healthcare through than one example of
the use of at least one
goods, services, and labor
example of goods, services,
markets.
and labor markets.
Pamphlet includes references
to relevant
academic/professional
resources.
Pamphlet does not describe, or
Pamphlet clearly and
unclearly or inaccurately describes
accurately describes the
the relationship between income and relationship between income
healthcare utilization and the impact and healthcare utilization and
of price subsidies that Medicaid
the impact of price subsidies
provides to increase service
that Medicaid provides to
increase service utilization
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet includes a
specific example to
2
Rubric Criteria
and healthcare
utilization.
Learning
Objective 1.5:
Describe how the
Patient Protection
and Affordable
Care Act (PPACA)
has impacted
healthcare
coverage.
© 2021 Walden University
Needs Improvement
utilization among low-income
populations.
Meets Expectations
among low-income
populations.
Pamphlet does not include
references to academic/professional
resources, or the resources are not
relevant.
Pamphlet does not explain, unclearly
or inaccurately explains how the
PPACA has impacted the following
aspects of healthcare coverage:
• Economics,
• Supply and demand, and
• Cost to individuals.
Pamphlet includes references
to relevant
academic/professional
resources.
Pamphlet clearly and
accurately explains how the
PPACA has impacted the
following aspects of
healthcare coverage:
• Economics,
• Supply and demand,
and
• Cost to individuals.
Pamphlet does not include
references to academic/professional
resources, or the resources are not
relevant.
Pamphlet includes references
to relevant
academic/professional
resources.
Exceeds Expectations
illustrate the relationship
between healthcare
utilization and low-income
populations and the
impact of this relationship
on the delivery of care.
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet includes a
specific example to
illustrate how PPACA
impacts economics,
supply and demand, and
cost to healthcare
organizations as well
individuals.
3
Overview
This Assessment requires submission of one (1) document. Save the file
as FM004_firstinitial_lastname (for example, FM004_J_Smith).
Instructions
You are presenting a leadership orientation on the topic of economics looking through the
lens of healthcare. To begin the Assessment, create a pamphlet describing the following
concepts to which members of leadership can refer after the presentation. Be sure when
addressing each of the items below to include references and examples to help demonstrate
the concepts:
1. Explain the definition of each of the concepts for Healthcare Economics: cost
benefit analysis; cost effectiveness; quality-adjusted life year; value of life
(payments).
2. Explain why these economic concepts are important to healthcare administrators as
it relates to healthcare spending and current healthcare economic policies to control
spending.
3. Describe the role of supply and demand in healthcare as demonstrated through use
of an example of good, services, and labor markets. Why would a supply and
demand analysis be a useful tool as a healthcare administrator?
4. Medicaid provides price subsidies that increase service utilization among lowincome populations. Describe the relationship between income and healthcare
utilization.
5. Describe how the PPACA (Patient Protection and Affordable Care Act) has
impacted the economics, supply and demand, and the cost to individuals for
healthcare coverage.
6. Describe an healthcare decision that was influenced by economics. Then explain the
role economics had on the decision that was made. Finally, describe how economics
impacted the delivery of healthcare due to the decision that was made.
Purchase answer to see full
attachment
context.
Assessment Rubric
Rubric Criteria
Needs Improvement
Meets Expectations
Exceeds Expectations
Leadership Orientation Pamphlet on Healthcare Financial Management
Learning
Objective 1.1:
Define healthcare
economic
concepts.
Pamphlet does not define, unclearly
or inaccurately defines the following
healthcare economic concepts:
• Cost benefit analysis
• Cost effectiveness
• Quality-adjusted life year
• Value of life (payments)
Pamphlet does not include
references to academic/professional
resources and examples to
demonstrate the application of the
concepts, or the resources and
examples are not relevant.
Learning
Objective 1.2:
Explain the
importance of
economic concepts
to healthcare
administrators in
relation to
© 2021 Walden University
Pamphlet does not explain or
unclearly or inaccurately explains
the importance of economic
concepts to healthcare
administrators in relation to
healthcare spending and healthcare
economic policies to control
spending.
Pamphlet clearly and
accurately defines the
following healthcare
economic concepts:
• Cost benefit analysis
• Cost effectiveness
• Quality-adjusted life
year
• Value of life
(payments)
Pamphlet includes references
to academic/professional
resources and examples to
demonstrate the application
of the concepts.
Pamphlet clearly and
accurately explains the
importance of economic
concepts to healthcare
administrators in relation to
healthcare spending and
healthcare economic policies
to control spending.
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet provides at least
one specific example of
how each of these
concepts apply to their
specific healthcare setting
or one in which they are
familiar.
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet provides
specific examples of how
healthcare administrators
1
Rubric Criteria
healthcare
spending and
healthcare
economic policies
to control spending.
Learning
Objective 1.3:
Describe the role of
supply and demand
in healthcare.
Needs Improvement
Meets Expectations
Pamphlet does not include
references to academic/professional
resources, or the resources are not
relevant.
Pamphlet includes references
to relevant
academic/professional
resources.
Pamphlet does not describe,
unclearly or inaccurately describes
the role of supply and demand in
healthcare and its usefulness as a
tool for the healthcare administrator.
Pamphlet clearly and
accurately describes the role
of supply and demand in
healthcare and its usefulness
as a tool for the healthcare
administrator.
Or pamphlet does not include the
demonstration of supply and
demand in healthcare through the
use of at least one example of
goods, services, and labor markets.
Pamphlet does not include
references to academic/professional
resources, or the resources are not
relevant.
Learning
Objective 1.4:
Describe the
relationship
between income
© 2021 Walden University
Exceeds Expectations
apply economic concepts
and policies to control
healthcare spending.
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet includes the
demonstration of supply
Pamphlet includes the
and demand in healthcare
through the use of more
demonstration of supply and
demand in healthcare through than one example of
the use of at least one
goods, services, and labor
example of goods, services,
markets.
and labor markets.
Pamphlet includes references
to relevant
academic/professional
resources.
Pamphlet does not describe, or
Pamphlet clearly and
unclearly or inaccurately describes
accurately describes the
the relationship between income and relationship between income
healthcare utilization and the impact and healthcare utilization and
of price subsidies that Medicaid
the impact of price subsidies
provides to increase service
that Medicaid provides to
increase service utilization
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet includes a
specific example to
2
Rubric Criteria
and healthcare
utilization.
Learning
Objective 1.5:
Describe how the
Patient Protection
and Affordable
Care Act (PPACA)
has impacted
healthcare
coverage.
© 2021 Walden University
Needs Improvement
utilization among low-income
populations.
Meets Expectations
among low-income
populations.
Pamphlet does not include
references to academic/professional
resources, or the resources are not
relevant.
Pamphlet does not explain, unclearly
or inaccurately explains how the
PPACA has impacted the following
aspects of healthcare coverage:
• Economics,
• Supply and demand, and
• Cost to individuals.
Pamphlet includes references
to relevant
academic/professional
resources.
Pamphlet clearly and
accurately explains how the
PPACA has impacted the
following aspects of
healthcare coverage:
• Economics,
• Supply and demand,
and
• Cost to individuals.
Pamphlet does not include
references to academic/professional
resources, or the resources are not
relevant.
Pamphlet includes references
to relevant
academic/professional
resources.
Exceeds Expectations
illustrate the relationship
between healthcare
utilization and low-income
populations and the
impact of this relationship
on the delivery of care.
Pamphlet demonstrates
the same level of
achievement as “Meets,”
plus the following:
Pamphlet includes a
specific example to
illustrate how PPACA
impacts economics,
supply and demand, and
cost to healthcare
organizations as well
individuals.
3
Overview
This Assessment requires submission of one (1) document. Save the file
as FM004_firstinitial_lastname (for example, FM004_J_Smith).
Instructions
You are presenting a leadership orientation on the topic of economics looking through the
lens of healthcare. To begin the Assessment, create a pamphlet describing the following
concepts to which members of leadership can refer after the presentation. Be sure when
addressing each of the items below to include references and examples to help demonstrate
the concepts:
1. Explain the definition of each of the concepts for Healthcare Economics: cost
benefit analysis; cost effectiveness; quality-adjusted life year; value of life
(payments).
2. Explain why these economic concepts are important to healthcare administrators as
it relates to healthcare spending and current healthcare economic policies to control
spending.
3. Describe the role of supply and demand in healthcare as demonstrated through use
of an example of good, services, and labor markets. Why would a supply and
demand analysis be a useful tool as a healthcare administrator?
4. Medicaid provides price subsidies that increase service utilization among lowincome populations. Describe the relationship between income and healthcare
utilization.
5. Describe how the PPACA (Patient Protection and Affordable Care Act) has
impacted the economics, supply and demand, and the cost to individuals for
healthcare coverage.
6. Describe an healthcare decision that was influenced by economics. Then explain the
role economics had on the decision that was made. Finally, describe how economics
impacted the delivery of healthcare due to the decision that was made.
Purchase answer to see full
attachment
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