Monday, February 24, 2020

HCM337-0704B-01 Current Legal, Ethical, and Regulatory Issues in H - Essay - 2

HCM337-0704B-01 Current Legal, Ethical, and Regulatory Issues in H - Phase 1 Discussion Board 3 - Essay Example Sometimes regulatory forces moved extremely fast and changes come before a hospital or health care facility can adjust to the changes. In 2002 St. Jude Medical had new heart device they wanted to bring to the market, but regulatory forces mandated that the device be tested on X number of patients before brining it to market. The company was originally unaware of the regulations regarding human trials, which their entrance into the market costing them million of dollars in revenues (McCartney, 2007). This is an example of the types of negative consequences of not complying with regulation which also includes other detrimental penalties such as fines, lawsuits and even complete shutdown of a medical facility. Ocean Health currently has two regulatory non-compliance issues which must be dealt with immediately. The first problem the health facility is facing is poor medical record documentation. The medical record is a key instrument that provides a medium to keep track of a patient’s current status and the treatment option administer to the patient. It also provides other information about the patient such as demographic information which valuable for medical investigation of diseases. In order to improve the documentation of medical records Ocean Health has to understand the magnitude of errors, the different types of medical record errors and the reason these errors are occurring (Cheapceus). The healthcare facility should proceed by taking actions to remedy the problem and find ways to prevent medical record documentation errors from occurring. Two aspects must be covered to deal with the problems: the human factor and the organizational operating factor. The human factor can be improved to minimized errors in the process by performing an assessment of all medical professionals that deal with medical record input and output to determine if they

Friday, February 7, 2020

Econometric Studies in Human capital Theory Essay

Econometric Studies in Human capital Theory - Essay Example Furthermore the earnings of certain subgroups who had external structural influence on their schooling were higher than average individuals as a whole. It can be stated that Card focused more on the schooling differences leading to heterogeneous earnings yet revealed some interesting dimensions too (Card, 1830). Much of the literature that examines returns to schooling usually consider academic qualification while in Dearden et al., 2002 she applied econometric model using OLS estimation on returns to academic as well as vocational qualification in Britain. This study is a longitudinal study funded by the then DfEE whereas the sample data of National Child Development Study (NCDS), 1991 and Labour Force Survey (LFS) of 1998 has been used. Her study examines the varying aspects of gender, ability, qualification and family background too. This longitudinal study develops a framework where NCDS results were compare with LFC statistics while after some selection criteria a final sample s ize of 6867 individuals (3007 Male & 3860 Female) was processed through estimation. Estimation results identified that males with O-Levels/ GCSE earn 13 to 23% premium to their qualification while for A-levels they earn 18% and for a degree they yield 11 to 32% premium. In contrast to men, women with O-levels/ GCSE earn 11 to 21% premium and with A-levels it adds to 20% and for degree women return 30% premium to the qualifications in a year. The study confirmed that along with academic qualifications, if individuals acquire vocational qualifications their premium may rise by 40% but vocational qualifications alone have reported less premium (Deardan et... This paper offers review on econometric studies, undertaken with the purpose of determining the correlation between schooling quality and returns on investment on schooling. Over the last decade, many researches and extensive literature have evolved. Card in his study explored the causal relationship of education on earnings. The study explored an impact of an instrumental factor family background on the schooling and earning of their children which had 30% variation in the earnings, similarly college education differences and location near college had some significant influence over schooling and hence earnings. Dearden applied econometric model using OLS estimation on returns to academic as well as vocational qualification in Britain. Results identified that males with O-Levels/ GCSE earn 13 to 23% premium to their qualification while for A-levels they earn 18% and for a degree they yield 11 to 32% premium. In Mcintosh study the variance of qualification confirmed heterogeneous returns among O-levels, A-levels and degree level labour force. The vocational qualification as identified earlier at lower premium to academic qualification remained the same Harmon conducted microeconomic empirical investigation on the returns to schooling. He concluded that every investment reflects the size of returns. He used a comparative approach to analyze cross sectional returns on education and furthermore, he applied OLS estimation analysis. It can be stated that to examine the returns on schooling, an econometric study can best explain the causes of higher returns either that is family background or ability or academic qualification (college graduation, O-levels, university degree) or vocational qualification or training.