Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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In the Fine Works Paver scenario, Sharp’s employer has been putting more emphasis on controlling costs
for the various businesses. With the slowing of overall spending in the construction sector, Travolta had ordered managers to closely monitor expenses. He had sold several companies and has given vice presidents greater responsibility for
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- You have been asked to reduce healthcare costs at your organization. With the implementation of the Affordable Care Act and overall healthcare costs on the rise, senior management has asked for you to develop a strategy to find the best health insurance in the competitive markets. A key focus for you is to decrease healthcare expenditures for the organization without foregoing quality for the employees. Senior managers in your organization recently participated in a national survey on “Purchasing Value in Health Care,” conducted by Towers Watson. Here are some of the results: Employers’ Top Challenges in Maintaining Affordable Benefit Coverage: Employees’ poor health habits Under use of preventative services High-cost catastrophic cases and end-of-life care Poor employee understanding of how to use the plan Overuse of care through employees seeking inappropriate care Poor quality or misuse of care because primary, specialty, and facility care are not integrated. You…arrow_forwardPat is a 21-year old college student whose parents are paying for college expenses. Pat has Type 1 Diabetes; owns a high-mileage, 2009 Hyundai Elantra; rents an apartment in Seattle with 2 high school friends; and works a part-time job at a convenience store on nights and weekends to help pay living expenses. Pat enjoys spending time outdoors and goes "off-grid" camping every chance they get. Using the steps in the risk management process, prepare a personal risk management plan for Pat, More specifically, you should identify at least 3 risks faced by the individual and then describe and complete all steps in the risk management process for each risk you identify (i.e., measure and analyze the loss exposure and select the appropriate combination of techniques to treat the loss exposure).arrow_forwardHow can I Evaluate 2 risk-management tools or strategies used in the healthcare industry? Include the following: Explaining the purpose of each tool or strategy. And Explain the advantages and disadvantages of each of the tools or strategies you selected.arrow_forward
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