Using the provided Reading material, answer the following questions in a complete 300 words.
Reading material: https://drive.google.com/drive/folders/1A0JjTqYX-wpsTjdDC0R-0JO3WQLh59tL
1. What are the four major components of the quad-function model and how are they defined by our authors?
2. What are definitions of price, charge, cost, claim, value, and price transparency?
3. What is the primary public program for covering elderly individuals (> 65 Years) in America?
4. What are the authors’ guiding principles for reform and the 5 payment strategies for reform?
5. What is insurance and how does this component influence access to health care?
*Due In 8-10 Hours!
Compose and post an opposite-the-editorial (“Op-Ed”) like piece that responds to the issues raised by the articles cited in the OP-ED exercise below. In general, student OP-ED responses can be completed up to 300 words minimum using US standard business English. Each OP-ED must be supported by one (‘1’) reference citation from a scholarly Internet source, such as Health Affairs Blog (Health Economics and Policy), Modern Healthcare Blog (Health Admin.), Becker’s Hospital Review, Bill of Health (Harvard), or O’Neil Institute Blog (Georgetown Law). Students are required to use any official reference style, which is APA.
Op-Ed Exercise: please read the opinion piece Are Alternative Payment Models Here to Stay? A Strategic Perspective posted by Dr. Paul Keckley on 11 Dec. 2017 in Hospitals and Health Network Magazine at https://www.hhnmag.com/articles/8732-are-alternative-payment-models-here-to-stay-a-strategic-perspective. His article discusses alternative payment models, and whether they will continue in their existence or evolve. He focuses on the pay-for-performance model, since it is a model favored by Medicare. It also a model in the Medicare Shared Savings Program (ACOs). He believes this model will remain in play, but evolve or morph overtime. Do you agree or disagree and why? As a future hospital administrator or practice administrator would you prefer this model or an alternative strategy such as bundling or capitation? My take is this model is likely to remain, because “big data” and data analytics will enable payers to be more analytic. An open question for me is identifying the best and most accurate quality measures.