Another piece on this pact is "Implications of the US-India Nuclear Deal" at the Harvard International Review. This article makes the valid point that "Sino-Indian competition is, of course, economic. India lacks substantial energy resources, and its continuing development will require massive energy use: power for new infrastructure, rural electrification for the poor, and automotive fuel and air conditioning for the burgeoning middle class. The United States sees its transfer of uranium fuel and nuclear technology to India as, in part, an investment in a democratic alternative to Chinese economic hegemony in Asia."
Tuesday, February 13, 2007
Economic implications of US-India nuclear cooperation
A nice discussion of the initial reaction to the agreement can be found at the International Herald Tribune here. An obvious benefit to the US is that US nuclear technology companies will be able to pitch their product in India, as "the agreement calls for the United States to end a long moratorium on the sale of nuclear fuel and reactor components."
Monday, February 12, 2007
Dilbert headline of the day
Viacom: MTV Firings Will Continue Until Morale Improves
Yeah, that's a sound business tactic....
Links of the day
Joanna Chung on disappearing developing country debt....
No signs of inflation in Japan....
Why The Yen Carry Trade Carries On Some More...a very good summary
The Five Big Questions about Health Care....superb summary of the issues
No signs of inflation in Japan....
Why The Yen Carry Trade Carries On Some More...a very good summary
The Five Big Questions about Health Care....superb summary of the issues
Friday, February 09, 2007
How to price healthcare-by justifiability?
The website of the US-based Healthcare Financial Management Association has a summary of an article published in one of their newsletters titled "Justifiable Pricing Strategies For CFOs." The summary begins as follows:
"Providers are increasingly being drawn into personal healthcare financing for consumers as patients' out-of-pocket costs rise. In order to develop new price strategies to meet this trend, CFOs will need to analyze the true costs of every service that patients want to buy, whether it's a gall bladder operation, hip replacement or normal childbirth. Open-ended pricing will be acceptable only in the case of unpreventable complications and life-saving emergency care."
The concept of "open-ended pricing" should horrify anyone who has had any education in the field of economics. One of the core premises of economics is that resources are finite. Any health care system that is based on the idea that any patient may be entitled to unlimited amounts of resources is fatally flawed.
Also mind-boggling is the idea that hospitals don't know the true costs of services that they provide. In most industries, failure to understand your business's cost structure inevitably will lead to the bankruptcy of your enterprise.
"Providers are increasingly being drawn into personal healthcare financing for consumers as patients' out-of-pocket costs rise. In order to develop new price strategies to meet this trend, CFOs will need to analyze the true costs of every service that patients want to buy, whether it's a gall bladder operation, hip replacement or normal childbirth. Open-ended pricing will be acceptable only in the case of unpreventable complications and life-saving emergency care."
The concept of "open-ended pricing" should horrify anyone who has had any education in the field of economics. One of the core premises of economics is that resources are finite. Any health care system that is based on the idea that any patient may be entitled to unlimited amounts of resources is fatally flawed.
Also mind-boggling is the idea that hospitals don't know the true costs of services that they provide. In most industries, failure to understand your business's cost structure inevitably will lead to the bankruptcy of your enterprise.
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