A Firm Pursuing a Best-Cost Provider Strategy

question 19

Multiple Choice

A firm pursuing a best-cost provider strategy:

• A) seeks to be the low-cost provider in the largest and fastest growing (or best)market segment.
• B) tries to have the best cost (as compared to rivals)for each activity in the industry's value chain.
• C) tries to outcompete a low-cost provider by attracting buyers on the basis of charging the best price.
• D) seeks to deliver superior value to buyers by satisfying their expectations on key quality/service/features/performance attributes and beating their expectations on price (given what rivals are charging for much the same attributes).
• E) seeks to achieve the best costs by using the best operating practices and incorporating the best features and attributes.

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Definitions:

Coding And Billing

The process of translating healthcare services into standard codes for insurance claims and managing patient billing.

Moderate Sedation

A drug-induced depression of consciousness during which patients respond purposefully to verbal commands, either alone or accompanied by light tactile stimulation, without interventions required to maintain a patent airway.

Bull's-Eye

The center of a target, often used metaphorically to denote a precise hit or the exact achievement of an objective.

Add-On Codes

Specialized codes in medical billing that indicate additional procedures or services that accompany a primary procedure.