Thomas Cox PhD, RN
Standard Errors: Our Failing Health Care (Finance) Systems And How To Fix Them is a monograph about insurance, managed care, health care provider capitation and pre-paid health care finance mechanisms.
Pre-paid health care finance mechanisms include: Capitation contracting, Bundled and Episode payment schemes, the Medicare & Medicaid Prospective Payment Systems, the Diagnosis Related Groups (DRGs) system and a variety of Profit/Risk Sharing agreements.
Pre-paid health care finance mechanisms transfer health insurance risks from Insurers, Managed care organizations and Health Maintenance Organizations to health care providers including: Physicians, Hospitals, Nursing homes, Home health agencies, Nurses and Allied Health Professionals.
These insurance risk assuming health care providers become their patients' small, very inefficient health insurers. As inefficient health insurers they are less likely to earn reasonable profits and more likely to incur operating losses and become insolvent than the Insurers, Managed care organizations and Health Maintenance Organizations would be if they kept these insurance risks.
The risk transferring organizations avoid their obligation to manage their policyholders' health insurance risks and earn high, risk-free profits at the expense of health care providers and patients.
StandardErrors.org provides resources for health care providers, patients and families, attorneys, health care provider executives and financial analysts, health care policy analysts, academicians and researchers concerned about the diminishing quality and quantity of health care services.
StandardErrors.org provides articles, tools and resources to analyze how health care provider insurance risk assumption affects health care systems, providers, consumers and our health care (finance) systems.
Thomas Cox PhD RN is a nurse, mathematician, statistician, social worker, chartered property casualty underwriter and licensed health care risk manager with extensive experience in insurance rate making and reserving, health care planning, research and delivery.
"Standard Errors: Our Failing Health Care (Finance) Systems And How To Fix Them" Second Edition, was released in September, 2012.
I provide educational and consulting services in risk assessment, risk management, financial analysis and quality improvement for health and allied health care professionals and facilities, academic institutions, attorneys and consumers.