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Healthcare Economics from Harvard Business School Online

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Duration

6 Weeks

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Course Mode

Self Study

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Assignments

Included

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Accreditation

Available

Program Overview

World-class faculty..
Edge-of-your-seat online learning.
Global peer collaboration and networking.
Real-world, case-based learning.

Pre-requisites

Our easy online application is free, and no special documentation is required. All applicants must be at least 18 years of age, proficient in English, and committed to learning and engaging with fellow participants throughout the course. We confirm enrollment eligibility within one week of your application.

What you will learn?

Articulate the drivers of spending and spending growth in health care and evaluate how your organization’s strategy and decision-making processes impact total spending and value.
Describe approaches to getting the incentives right for both providers and patients and evaluate the impacts of changes to these incentives.
Understand risk and pooling as they relate to insurance markets and health benefit design.
Define the role of employers, insurers, and government in influencing the economics of health care markets, such as spending, access to care, and stability of insurance markets.
Explain how technology and patients’ and providers’ decisions contribute to high spending and spending growth, and how they impact their own organizations..

About this Specialization

Taught by Harvard Medical School faculty, Health Care Economics, a Harvard Online course, provides insights into the interactions between industries in the US health care sector and teaches what economic forces are shaping health care.
Even for those within the health care industry, the economics of the United States health care system are stunningly complex and can be challenging to navigate. In Health Care Economics, gain insights into the interactions between industries in the health care sector and learn what economic forces are shaping health care. You'll cover core topics, such as moral hazard and adverse selection, and examine how these forces, as well as the actions of patients, providers, and other key stakeholders, shape outcomes in the health care market. This course will examine health care spending growth, considering new technologies and other drivers of growth through an economic lens, and explore the theoretical framework behind controlling health care spending growth through changes to benefit design and payment reform.
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Syllabus

Module 1: Spending Growth 

Big Questions

  • Why is US healthcare so expensive (absolutely)?

  • Why is US healthcare so expensive (relative to other countries)?

  • Why is health care spending growing?

Key Topics

  • Drivers of healthcare spending

  • Geographic variation in spending

  • Technology and spending

Key Exercises

  • Make health care spending growth predictions

  • Compare US health care costs to costs in other countries

  • Analyze the math behind health care spending

  • Examine sources of waste in the healthcare industry

  • Explore the role of technology in healthcare spending growth

Module 2: The Role of the Patient      

Big Questions

  • What role should patients play in making important choices about their care?

  • What role should money play in the decisions of patients?

  • Why do people use too much care?

  • How do we know what “too much” is?

Key Topics

  • Moral hazard

  • Distortions caused by insurance

  • The normative nature of the demand curve for health care

  • Demand elasticity

  • Willingness to pay

Key Exercises

  • Interpret demand curves

  • Explore willingness to pay for health care

  • Evaluate different solutions to inefficient consumption of care, such as moral hazard

Module 3: The Role of the Provider and Health Care Production         

Big Questions

  • What role should the provider play in determining care patterns?

  • What factors affect provider behavior?

  • What do we know about the production of health care?

  • How do provider behavior and competition influence care?

Key Topics

  • Variation in care delivery

  • Supply curve

  • Medical arms race

  • Economics of prevention

  • Integration and care coordination

Key Topics

  • Analyze clinical decision-making

  • Recognize supplier-induced demand and the consequences of the medical arms race

  • Explore practice ownership trends

  • Determine whether prevention programs and care coordination are cost saving

Module 4: Risk and Insurance

Big Questions

  • What is the role of insurance in healthcare?

  • Why is the risk pool for health insurance so important and how do we manage it?

  • What policies stabilize the risk pool?

  • How does the health care system deal with heterogeneous risk?

Key Topics

  • Risk

  • Risk pooling

  • Stability of insurance markets

  • Adverse selection

  • Role of employers

 Key Exercises

  • Explore risk preferences

  • Calculate actuarially fair premiums to understand what health insurance is and how it works

  • Examine solutions for solving some of the problems with insurance

  • Evaluate policy proposals for dealing with information asymmetry and adverse selection

Module 5: Benefit Design

Big Questions

  • How can we design insurance plans to promote efficient consumer decision-making?

Key Topics

  • High deductible plans

  • Tiered and narrow network plans

  • Reference pricing

  • Value-based insurance designs

Key Exercises

  • Explore patient decision-making in health care

  • Analyze different approaches for improving patient incentives

Module 6: Payment Reform  

  • How do we structure payments to promote efficient provider decision-making?

Key topics

  • Distortions generated by fee-for-service

  • Episode-based payment models

  • Population-based payment models

Key Exercises

  • Explore provider decision-making in health care

  • Analyze different approaches for improving provider incentives

Institute Information

Established in 2001 and adeptly run by the Sringeri Mutt with the benign blessings of Sri Sri Bharathitheertha Mahaswamigal, the College believes in keeping a proactive approach for the overall development of the students.

ASIET is the first self-financing technical education centre to be awarded the ISO 9001: 2008 certification. Our Alumni are prestigious and many occupy responsible positions across prestigious organizations in India and abroad. The institute is affiliated to the APJ Abdul Kalam Technological University, accredited by NBA and approved by AICTE.

Harvard Business School Online launched as HBX in 2014 to deepen the School’s impact and broaden its reach, all while staying true to the HBS mission: to educate leaders who make a difference in the world. The nuance? Now we could reach those leaders wherever they are—in the world, in their careers, and in their lives. Since, HBS Online has educated 100,000-plus learners from more than 175 countries via our innovative online platform.

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