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A large manufacturing company has for years offered generous health insurance to its employees. Over time, the cost of the health plan has increased considerably with the average cost being roughly $6000 per year. The firm has hired a management consulting company to make recommendations about how to reduce costs. The consulting company has recommended two steps to help the company save cost. First, they recommend that the company offer a lower-cost insurance package with much higher deductibles, copayments and coinsurance rates. This new package is estimated to initially cost less than $4000 per year. Second, the consultants recommend that the employer charge employees $100 a month if they opt for the more generous health insurance plan. Discuss in detail and provide evidence for what the likely short and long run implications are for the two health insurance plans if he firm adopts the consulting firm's suggestions.

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I believe you want to focus on what Economists call "Adverse Selection". In offering the new (cheaper) insurance plan, people who are healthy (i.e. exercise regularly) are going to opt for the cheaper plan with higher deductibles. If they have a major health event, they are covered, but they do not anticipate needing to heavily use the plan. As such, the healthier individuals ...

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The solution discusses healthcare plans.

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Healthcare Organization Strategic Planning Approach Solution

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You hired as the Director of Operations Director for a publicly-held hospital chain. You have been asked to evaluate the organization's strategic planning approach because of changes in recent legislation (Affordable Care Act, Health Information Technology for Economic and Clinical Health (HITECH), Health Insurance Portability and Accountability Act (HIPAA), the Joint Commission, etc.). To gather data for your assignment, identify a publicly-held health care organization of your choice. You may use the Cybrary to search for market information.

Prepare a report of 5 to 7 pages with at least 5 academic or professional references published in the past five years that indicates the following:

Identify all of the stakeholders that are involved and impacted by the organization.
Differentiate internal from external stakeholders, and evaluate the relationship between the organizational mission and vision for each stakeholder group based on strategic planning components.
Evaluate at least 3 business units or stakeholder groups that should be subjected to further evaluation to support the strategic initiatives of the organization, and provide your rationale and justification.
Analyze the mission and vision statements of the organization from the perspective of each of the identified stakeholders.
Assess the organization's approach to addressing recent health care legislation, and provide an evaluation of the strategic response that is commonly employed.
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