Based on your finding please recommend 3 policies to improve hospital performance, use the final model for your recommendation. 1st Model: Run a linear model and predict the difference between hospital beds (use the bed-tot) and hospital’s ownership on hospital net-benefit? Discuss your finding, do you think having higher beds has positive impact on the hospital net benefit? What about mlpthe ownership? Model 1a Hospital Characteristics Coef. St. Err Hospital beds 1459 1221 Ownership For Profit -3075968 1935886 Non-for profit -3675084 2305366 Other -2451322 1747404 N 3030 R-Squared 0.1521 2nd Model: Now, estimate the impact of being a member of a system on hospital net benefit? And discuss your finding (nor more than 2 lines)? Is it significant? Model 2 Hospital Characteristics Coef. St. Err Hospital beds 13729 1266 Ownership For Profit -2815003 1933547 Non-for profit -3749384 2301021 Other -284763 175411 Membership System Membership 5240455 1479757 N R-Squared 0.05259 3nd Model: Now, include the ratio of ratio-Medicare-discharge and ratio-Medicaid-discharge in your model? How do you evaluate the impact of having higher Medicare and Medicaid patients on hospital revenues? Model 3 Hospital Characteristics Coef. St. Err Hospital beds 153608 10017 Ownership For Profit 49564 14816446 Non-for profit -3654294 17620991 Other -19967782 136746 94 Membership System Membership 18972235 11396582 Socio-Economic Characteristics Medicare discharge ratio -5858718 392663 Medicaid discharge ratio -1240015 606833 N R-Squared 0.1909

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Question

Based on your finding please recommend 3 policies to improve hospital performance, use the final model for your recommendation.

1st Model:

Run a linear model and predict the difference between hospital beds (use the bed-tot) and hospital’s ownership on hospital net-benefit? Discuss your finding, do you think having higher beds has positive impact on the hospital net benefit? What about mlpthe ownership?

	Model 1a
Hospital Characteristics	Coef.	St. Err
Hospital beds	1459	1221
Ownership
For Profit	-3075968	1935886
Non-for profit	-3675084	2305366
Other	-2451322	1747404
N	3030
R-Squared	0.1521

2nd Model:

Now, estimate the impact of being a member of a system on hospital net benefit? And discuss your finding (nor more than 2 lines)? Is it significant?

	Model 2
Hospital Characteristics	Coef.	St. Err
Hospital beds	13729	1266
Ownership
For Profit	-2815003	1933547
Non-for profit	-3749384	2301021
Other	-284763	175411
Membership
System Membership	5240455	1479757
N
R-Squared	0.05259

3nd Model:

Now, include the ratio of ratio-Medicare-discharge and ratio-Medicaid-discharge in your model? How do you evaluate the impact of having higher Medicare and Medicaid patients on hospital revenues?

	Model 3
Hospital Characteristics	Coef.	St. Err
Hospital beds	153608	10017
Ownership
For Profit	49564	14816446
Non-for profit	-3654294	17620991
Other	-19967782	136746 94
Membership
System Membership	18972235	11396582
Socio-Economic Characteristics
Medicare discharge ratio	-5858718	392663
Medicaid discharge ratio	-1240015	606833
N
R-Squared	0.1909