The Challenge of Healthcare Managed Services Is To

question 31

Short Answer

The challenge of healthcare managed services is to:
• control costs due to lower Medicare payments
• provide many special meal requirements to patients with specific dietary needs
• generate creative advertising to bring more guests into the cafeteria
• insure that trays are picked up from the rooms in a timely manner

Understand the concept of bounded rationality and its implication on decision-making.

Identify the importance of ethical considerations in decision-making.

Learn how to implement and evaluate decisions in an organizational context.

Recognize the role of intuition and satisficing in decision-making under uncertainty.

---

Definitions:

Demand for Good X

The desire and ability of consumers to purchase a specific quantity of Good X at various prices during a certain time period.

Price of X

The amount of money required to purchase a specific good or service named "X."

Demand Curve

An illustration depicting the connection between a good's price and the volume of the good consumers can and are ready to acquire at assorted prices.

Soybeans

A type of legume native to East Asia, widely grown for its edible bean which has numerous uses, including oil and protein sources.