When Diagnosis-Related Groups (DRGs) Were Established by Medicare in 1983

question 13

Multiple Choice

When diagnosis-related groups (DRGs) were established by Medicare in 1983, the purpose was to:

• A) put patients with the same diagnosis on the same unit.
• B) attempt to contain the costs of health care.
• C) increase the availability of medical care to older adults.
• D) identify a patient's condition more quickly.

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Definitions:

Stocks

Financial securities representing partial ownership in a company, allowing investors to claim on the company's assets and earnings.

Annuity

A financial product that pays out a fixed stream of payments to an individual, typically used as an income stream for retirees. It's a contract between an individual and an insurance company.

Utility Function

A utility function is a mathematical representation of a consumer's preference ranking for different bundles of goods, indicating the total satisfaction or utility derived from consuming these goods.

Wealth

The abundance of valuable resources or material possessions, or the control over such assets.