peer

Peer responses

Rules: short and sweet, to the point. Add of fact to it and include reference.

HMGT 420

· Week 5

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Richard posted

· Regulatory compliance training is very important in the healthcare sector, not only does it help ensure employees are working according to local, state and federal mandate, but helps keep the organization in continuity to avoid fines, court case and closures. This training helps improve safety of patients and employees by passing the recent information in related fields, training's which would be recommended for employees to cultivate compliance within the hospital environment are American health information management association (AHIMA), this training assist employees understand the need for safety of patient’s information such as social security numbers, address, and phone numbers which need to be protected at all times to avoid a breach to data and personal contact, employees should know that this training offers a certification courses for further advancement in career.(Eagle 2015)

Another form of training is the Occupational Safety and Health Administration (OSHA) a federal establishment that ensures safe and healthy working conditions for patients and employees working in health environment, the training also involves workers compensation and kind of insurance which could be provided to cover situation such as injuries which happens on the job and benefits when employee can’t work. The main purpose for training employees is to ensure safety of themselves and the general public.

Respond to Richard here:

· Vanscoy, Week 5

Sarah posted Jun 15, 2016 3:33 PM

As the facilities manager you must make sure that employees have compliance training.  Describe at least two types of health care regulatory compliance training topics that you would offer your employees to cultivate a culture of compliance within the hospital environment.  Please respond to at least two of your classmate’s postings.

 There are many compliance programs and topics that are required in a healthcare setting.  The most common one is the Health Insurance Portability and Accountability act of 1966 (HIPPA), Public Law 104-19.  This law protects patient information and promotes confidentiality, integrity and availability of electronic medical records (“Training,” n.d.).  Anyone that comes into contact with personal health information must be compliant with the HIPPAA training requirements, and training for new-hires must be completed within ten days of hire.  Most organizations will provide annually training to all employees as well, though it varies by organization.  Failure to comply will result in fines (“7 Common Questions,” n.d.).  It is essential to have a HIPPA compliance program, not only because it is the law, but because it will help protect patient confidentiality. 

The United States Department of Labor, Occupational Safety and Health Administration (OSHA) lists several requirements that all employees should receive training on.  One of these that I would enforce as a facilities manager are the Bloodborne Pathogens Standard.  All employees that are at risk for coming into contact with blood and other possibly infectious materials should receive training and have a written exposure control plan.  The OSHA website provides sample programs, and reference guides in order to assist management with implementing this compliance program.  This standard helps protect employees from health hazards associated with bloodborne pathogens (“Compliance,” n.d.). 

Respond to Sarah here:

HMGT 435

Rules: Rules: short and sweet, to the point. Add of fact to it and include reference.

Also my original post is listed because my teacher had a question about it,please respond to it.

My original post

Adverse selection is a situation where individuals and people make insurance decisions on their own without advice from the insurance agents. These decisions are based on their knowledge, and there is always a likelihood of making a claim on the insurance cover in consideration. In most cases of adverse selection, the insured have better information and knowledge of a certain insurance policy they want to buy than the insurance agent. Adverse selection can, however, be minimized from occurring. One of the best methods and ways to prevent or minimize adverse selection is by creating representative groups. The insurance company should ensure that these groups that choose each benefit become more representative of the whole group as a whole. The (National association of insurance commissioners, 2011) argues that many companies put policies such as insurance covers for the benefits to be offered to the employees that mean about 75% of the eligible ones should select an advantage in the plan. Those companies where employees do not pay any insurance premiums for being covered, many states put it mandatory for each employee to be engaged in each and every benefit plan they offer even though an employee has chosen to select the benefit. Another way companies avoid the risk of adverse selection is making sure that each employee has at least a minimum essential coverage and also accept some basic sets of benefits. Some companies also attach benefits together that is if you, for example, take coverage for theft coverage, you may also be required to take coverage for fire. This is referred to as bundling benefits. Adverse selection can also be a reversible principle for the consumer. For example, managers and directors of a company may be wanting to give shares when they are aware that the price of the share is overvalued as when compared to the actual value. Thus, a buyer can end up buying over- valued shares.

What my teacher asked:

· AmandaWed at 3:24 PM

Deidra

Could you help us understand a few topics here - with the adverse selection what does the consumer know more than the agent? Can you give an example and how this is adverse selection?

For the reverse principle for consumers - what is the connection about shares in an organization to health care?

Look forward to your expansion on the topic.

PN

· Week 3--Billie Thorne

Adverse Selection is a situation in which individuals of different risk types decide whether or not to buy insurance (Economics: Theory Through Applications, 2012).  People who are of lower risk may decide to decline the insurance making it to where only high risk individuals are buying the insurance.  This can lead to prices being higher for the lower risk individuals.  Insurance companies need to determine a price for the policy that is affordable to all individuals but still allows them to still make a profit.  In a health insurance situation this could backfire because if a patient smokes and does not exercise but tells the insurance company during the initial questionnaire that they do not smoke and do exercise.  They set the policy up with the understanding that the patient is healthy and exercises and has little risk for the need for health insurance.  But instead they are at higher risk of using the insurance.  So this is where insurance companies have to consider what rates would allow them to be affordable to all patients whether they smoke and don’t exercise or if they don’t smoke and exercise but still be able to cover the needs of the smoker who is insured.  But those who are not smokers and do exercise may take advantage of having the coverage and get medical care that may not be immediately needed.  So again the insurance companies need to take this into consideration when deciding on policy premiums to ensure that no matter the situation that they will still make a profit while keeping the policy affordable for everyone.

Respond to Billie here:

· Adverse Selection

· Nicole posted Jun 15, 2016 10:21 PM

Adverse selection refers to the idea that sellers have information that buyers do not, or vice versa about some quality of a product (Investopedia, 2016).  An example would be that patients who are ill are more likely to purchase and use insurance whereas people who are low risk for illness are less likely to purchase and use insurance.  Adverse selection can work either way, with either the seller or the buyer having more information.  The way a consumer can work adverse selection in their favor is to be savvy with their insurance plan features.  Through knowing the ins and outs they can take advantage of the features available and learn how to access the other resources available. 

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