Question

1. Differentiate time series vs. cross-sectional as output measurements for changing quality of care.

2. What are the 3 sources by which medical care output can be measured. Explain.

3. What do you mean by “cost-sharing” in health insurance.

Answer 1

Answer 1 :-

the principal difference between time series data and cross-sectional data is that the Cross-sectional data are limited to an approximate window of time, while time series data are collected over several time periods.

The Department of Homeland Security has noted that on average 1120 suspicious vehicles are stopped and searched each day in the United States. This number is used to estimate the number of cars stopped in an average yearly period. The average number of cars stopped is not an example of:

a)a population.

b)a sample.

c)descriptive statistics.

d)statistical inference.

c)descriptive statistics.

The average number of cars stopped is not an example of a descriptive statistic. The statistic mentioned is gathered daily and used to describe the population of the United States

A time series is a sequence of data points, typically consisting of successive measurements made over a time interval. Examples of the time series include a stock's opening price for each month,Ocean tides.

Answer 2:-

Medical care output can be measured at the three sources as given below ;

1. In order to determine how much medical care have produced, the providers can survey the data.
2. For determination of how much medical care have paid, the payers of medical care can be surveyed.
3. To determine the quantity of consumption or utilization, the consumers can be surveyed.

Although, with the perfect measuring approach, all the three sources will provide the same result. However, due to the difficulty in measurement, small differences may be seen in each source.

Answer 3 :-

Cost Sharing :

Cost Sharing means that the overall extent of out of pocket requirements. Plans with low cost sharing have low deductibles or coinsurance or copayments such that the patients don't pay much. High cost sharing have high deductibles etc. and the patients have to pay relatively higher amounts when they use care.