1 3 Econ Principles Milestone 1 Precious Teasley Southern New Hampshire University   IHP-620-Q1591 Economic Principles- healthcare 22TW1 Dr. Scott September 6,2022 The primary teaching facility for the Leonard M. Miller School of Medicine at the University of Miami is the accredited, non-profit Jackson Memorial Hospital. Jackson Memorial Hospital, which has more than 1,550 licensed beds, serves as a referral facility, attracts researchers, and is the location of the Ryder Trauma Hospital, the only adult and pediatric Level 1 trauma center in Miami-Dade County. The primary teaching facility for the Leonard M. Miller School of Medicine at the University of Miami is the accredited, non-profit Jackson Memorial Hospital (Jackson et al., 2002). Jackson Memorial Hospital, which has more than 1,550 licensed beds, serves as a referral facility, attracts researchers, and is the location of the Ryder Trauma Hospital, the only adult and pediatric Level 1 trauma center in Miami-Dade County. Patients bear a significant financial burden due to lower insurance payments. In addition, COVID-19 pandemic victims and their families are being compelled to pay extra for even simple and commonplace services due to job loss or layoffs. The patient is now the third-largest payer, after Medicare and Medicaid, according to Jackson Hospital's vice president of revenue cycle; therefore, the financial risk these developments posed to Jackson Hospital had to be addressed. The management aimed to implement contemporary methods to involve patients early in discussions about financial obligations, payment alternatives, and agreements (Jackson et al.,2002). To improve patient collections, Jackson Hospital looked for effective ways to convey patient balances and payment choices for services provided. Among the objectives were lowering collection expenses and raising patient satisfaction. A $1.2 billion, not-for-profit, independently run acute care hospital, Jackson Hospital is located in a working-class neighborhood with blue-collar residents (Tookes et al., 2015). Their population's payer mix is 56% Medicare, 11% Medicaid, and 6% self-pay, and their patients' average credit scores are under 600. From the financial statements available, this organization has no notable spike in revenue attributable to increased injuries and accidents related to the ice during the winter season. References Jackson, C. A., Derose, K. P., Chiesa, J., & Escarce, J. J. (2002). Hospital Care for the Uninsured in Miami-Dade County. Hospital Finance and Patient Travel Patterns. RAND CORP SANTA MONICA CA. Tookes, H., Diaz, C., Li, H., Khalid, R., & Doblecki-Lewis, S. (2015). A cost analysis of hospitalizations for infections related to injection drug use at a county safety-net hospital in Miami, Florida. PloS one, 10(6), e0129360. IHP 620 Final Project Milestone Two Guidelines and Rubric Prompt: In the first part of the course, we have applied f ...

1. 1
3
Econ Principles Milestone 1
Precious Teasley
Southern New Hampshire University
IHP-620-Q1591 Economic Principles- healthcare 22TW1
Dr. Scott
September 6,2022
The primary teaching facility for the Leonard M. Miller School
of Medicine at the University of Miami is the accredited, non-
profit Jackson Memorial Hospital. Jackson Memorial Hospital,
which has more than 1,550 licensed beds, serves as a referral
facility, attracts researchers, and is the location of the Ryder
Trauma Hospital, the only adult and pediatric Level 1 trauma

2. center in Miami-Dade County. The primary teaching facility for
the Leonard M. Miller School of Medicine at the University of
Miami is the accredited, non-profit Jackson Memorial Hospital
(Jackson et al., 2002). Jackson Memorial Hospital, which has
more than 1,550 licensed beds, serves as a referral facility,
attracts researchers, and is the location of the Ryder Trauma
Hospital, the only adult and pediatric Level 1 trauma center in
Miami-Dade County.
Patients bear a significant financial burden due to lower
insurance payments. In addition, COVID-19 pandemic victims
and their families are being compelled to pay extra for even
simple and commonplace services due to job loss or layoffs.
The patient is now the third-largest payer, after Medicare and
Medicaid, according to Jackson Hospital's vice president of
revenue cycle; therefore, the financial risk these developments
posed to Jackson Hospital had to be addressed.
The management aimed to implement contemporary methods to
involve patients early in discussions about financial obligations,
payment alternatives, and agreements (Jackson et al.,2002). To
improve patient collections, Jackson Hospital looked for
effective ways to convey patient balances and payment choices
for services provided. Among the objectives were lowering
collection expenses and raising patient satisfaction. A $1.2
billion, not-for-profit, independently run acute care hospital,
Jackson Hospital is located in a working-class neighborhood
with blue-collar residents (Tookes et al., 2015). Their
population's payer mix is 56% Medicare, 11% Medicaid, and 6%
self-pay, and their patients' average credit scores are under 600.
From the financial statements available, this organization has no
notable spike in revenue attributable to increased injuries and
accidents related to the ice during the winter season.

3. References
Jackson, C. A., Derose, K. P., Chiesa, J., & Escarce, J. J.
(2002). Hospital Care for the Uninsured in Miami-Dade County.
Hospital Finance and Patient Travel Patterns. RAND CORP
SANTA MONICA CA.
Tookes, H., Diaz, C., Li, H., Khalid, R., & Doblecki-Lewis, S.
(2015). A cost analysis of hospitalizations for infections related
to injection drug use at a county safety-net hospital in Miami,
Florida. PloS one, 10(6), e0129360.

4. IHP 620 Final Project Milestone Two Guidelines and Rubric
Prompt: In the first part of the course, we have applied
foundational economic principles to the healthcare industry. For
the first part of your final project, you
will analyze these same microeconomic and macroeconomic
principles and their impact on healthcare markets, healthcare
service, and organizations. In this
milestone, you will apply the knowledge you have gained
through the first half of the course, as well as research current
economic environments and legislative
changes to gauge the impact on the healthcare industry through
a policy research report.
In Milestone Two, you will submit your draft of the policy
research report. Based on instructor feedback and direction, you
will revise your policy research report
for the final submission of the policy research and
organizational analysis report in Module Nine.
Your policy research report should address the following
elements:
I. Economic Theories and Principles:
A. Economic Disparities: Analyze the relationship between the
financial well-being of the industry and availability of
healthcare, in consideration of
market and demand theories.
B. Economic Theories: What economic theories are most useful
when applied to the healthcare industry and why?

5. C. Use of Economic Principles: Why do organizations utilize
economic principles to guide strategic short-term and long-term
decision making?
II. For-Profit and Nonprofit:
A. Financial Differentiation: What differentiates for-profit and
nonprofit healthcare organizations financially? What
characteristics of each type of
healthcare organization make the organizations different?
B. Economic Differentiation: What differentiates for-profit and
nonprofit healthcare in terms of economic policies and
legislation? What key recent
and current economic policies impact each?
III. Policy, Changes, and Disparities:
A. Economic Policy and Disparities in Care: Using current
research and information (within the last five years), analyze
the relationship between
economic policy and disparities in care. How are they
connected? How do they differ?
B. Policy Changes: What impact do recent legislative changes
have on healthcare economic policy in general?
C. Disparities Planning: Why are disparities of care factored
into healthcare strategic planning? Explain your reasoning and
provide examples for
support where appropriate.
Guidelines for Submission: Your report should be in APA
format and all resources and references should be cited
appropriately. A well-written, concise report
will fall within the range of 4–6 pages, not including references
and title page.

7. Rubric
Critical Elements Exemplary (100%) Proficient (90%) Needs
Improvement (75%) Not Evident (0%) Value
Economic Disparities Meets “Proficient” criteria and
analysis demonstrates strong
analytical skills through nuanced
comparison of theories
Accurately analyzes the
relationship between the
financial well-being of the
industry and availability of
healthcare, using market and
demand theories as support
Analyzes the relationship
between the financial well-being

8. of the industry and availability of
healthcare, but without market
and demand theory support or
with gaps in accuracy
Does not analyze the relationship
between the financial well-being
of the industry and availability of
healthcare
12
Economic Theories Meets “Proficient” criteria and
the quality and detail of the
conclusions evidences keen
insight into the application of
economic theory within the
healthcare environment
Determines what economic
theories are most applicable to
the healthcare industry and
explains conclusions in detail
Determines economic theories
that are applicable and explains
why, but lacks detail or accuracy
Does not determine economic
theories that are applicable and
explain why
12
Use of Economic
Principles

9. Meets “Proficient” criteria and
explanation evidences keen
insight into the economic impact
of organizational planning
Logically explains why individual
organizations utilize economic
principles for short-term and
long-term strategic planning
Explains why individual
organizations utilize economic
principles for short-term and
long-term strategic planning, but
with gaps in logic or detail
Does not explain why individual
organizations utilize economic
principles for short-term and
long-term strategic planning
12
Financial
Differentiation
Meets “Proficient” criteria and
comparison evidences keen
insight into the financial needs,
requirements, and impacts on
and for the two types of
organizations
Accurately differentiates
between for-profit and not-for-

10. profit healthcare organizations in
terms of finances and
organizational characteristics
Differentiates between for-profit
and not-for-profit healthcare
organizations, but not in terms of
finances and organizational
characteristics, or with gaps in
accuracy
Does not differentiate between
for-profit and not-for-profit
healthcare organizations
10
Economic
Differentiation
Meets “Proficient” criteria and
comparison evidences keen
insight into the nuanced
relationships between the type
of organizations and economic
policies and legislation
Accurately differentiates
between for-profit and not-for-
profit healthcare organizations in
terms of economic policies,
legislation, and recent changes
Differentiates between for-profit
and not-for-profit healthcare
organizations, but not in terms of

11. economic policies, legislation,
and recent changes, or with gaps
in accuracy
Does not differentiate between
for-profit and not-for-profit
healthcare organizations
10
Economic Policy and
Disparities in Care
Meets “Proficient” criteria and
analysis evidences keen insight
into the nuances of and varied
influences on the relationship
between economic policy and
care
Accurately analyzes the
relationship between economic
policy and disparities in care,
using current data
Analyzes the relationship
between economic policy and
disparities in care, but with gaps
in accuracy, or without using
current data
Does not analyze the relationship
between economic policy and
disparities in care
12

12. Policy Changes Meets “Proficient” criteria and
determinations provide a broad
view of healthcare economic
policy within the current
environment
Accurately determines the
impact recent legislation changes
have had on economic
healthcare policies in general
Determines the impacts recent
legislation changes have had on
economic healthcare policies, but
with gaps in accuracy or detail
Does not determine the impact
recent legislation changes have
had on economic healthcare
policies
12
Disparities Planning Meets “Proficient” criteria and
description effectively ties the

13. explanation to the real world
using examples and relevant
sources for support
Accurately describes why
disparities of care are factored
into healthcare strategic planning
with examples for support
Describes why disparities of care
are factored into healthcare
strategic planning, but with gaps
in accuracy or support
Does not describe why disparities
of care are factored into
healthcare strategic planning
10
Articulation of
Response
Submission is free of errors
related to citations, grammar,
spelling, syntax, and organization
and is presented in a professional
and easy-to-read format
Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization
Submission has major errors
related to citations, grammar,
spelling, syntax, or organization

14. that negatively impact readability
and articulation of main ideas
Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas
10
Earned Total 100%
IHP 620 Final Project Milestone Two Guidelines and Rubric
Rubric