As Third-Party Payments and Government Expenditures on Healthcare Increased Following

question 128

Multiple Choice

As third-party payments and government expenditures on healthcare increased following the passage of Medicare and Medicaid,

• A) total expenditures on healthcare declined.
• B) the incentive of consumers to economize on their use of healthcare services increased.
• C) the incentive of suppliers to provide healthcare services at a low cost increased.
• D) both the prices of healthcare services and total expenditures on those services increased rapidly.

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Definitions:

Ingredients

Components or elements combined in the preparation of a particular dish or product.

Value Engineering

A systematic method to improve the "value" of goods or products and services by using an examination of function.

Product Design

The process of creating a new product to be sold by a business to its customers, involving concept development, solution sketching, prototyping, and testing.

Value Analysis

A methodical approach to identify and eliminate unnecessary costs in product design and manufacturing without sacrificing functionality or quality.