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Knowledge, Information Imperfection and System Implementation in Organization

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Knowledge, Information Imperfection and System Implementation in Organization

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

Knowledge, Information Imperfection and System Implementation in Organization

DQ 8-2 Responses

1.

Knowledge is power, especially when directors and managers have the most complete and accurate data. Perfect information is making decisions when the buyer manages all the data available of the product provided by the seller. So imperfect information will be the opposite; lack of knowledge of the service and product and not enough data (Cox & Swarthout, 2006.)

An excellent example would be acquiring health insurance. Lets provided two potential scenarios: 1) Perfect information: health insurer will receive all the personal data, current health conditions, past medical history, family

medical history, current job, income, and daily activity status from a client. This quote will be more appropriate and tailored to the client’s need, which might affect positively or negatively the cost of the service. 2) Imperfect information: health insurer will receive some of the personal data. The client chooses to perhaps, forget about their current medical problems and medications when the provider asks about past medical history, the client stated

none but also forgets about the depression he is currently dealing. When questioned about the current job, he mentions to be employed but he recently just got fired but mentioned his activity status is good, describing himself as sedentary.

How accurate do you think this data is? And would it tailor his need? Is the health insurance company getting a positive outcome out of this situation? Healthcare companies are aware of these obstacles, and hoping for honesty is all they can do because they cannot push people to tell them the truth. It affects them significantly because they have to work in top of those things to bring better outcomes and establish a much more trusting patient-health personnel relationship.

Thanks

Reference Cox, J., & Swarthout, T. (2006). Imperfect Information. Retrieved from http://www.econport.org/content/handbook/Imperfect-Information.html

2.

What is the information imperfection in health care and how does it impact the efficiency of the market?

Health care is considered an imperfect market, because not enough information is given to know the outcomes. A buyer or a seller in most markets know many details, for example, for it to be perfect, insurance providers would have a lot of information on the status of their client’s health and respond according to their health knowing the expected costs. However, often the opposite is true and there is little information known. The party that may have the correct information is the one that benefits, the market however can suffer or even fail. (Pragya)

The other side of the coin is the lack of information on the part of the patient. What treatments are there available? Lack of knowledge can dissuade some. Without enough information a patient cannot choose the best treatment

and the outcome of this lack of knowledge can be possibly misinformation and maltreatment leading to more potential hazards in the market place. Often, when people are unsure of things they do nothing at all. The market is

confusing and unsure, and it is a vicious cycle due to the fact that there really needs to be more information on both sides of the aisle, especially though on the side of the health insurance side because this is how markets can be

prosperous (Pragya)

Basically, the market is as accurate as the information it has, and since the data from health care is so wishy washy, the market is very imperfect.

Pragya. (n.d.). The Impact of Imperfect Information on Health Insurance Choice, Health Outcomes, and Expenditures of the Elderly. Retrieved July 05, 2019, from https://ashecon.confex.com/ashecon/2019/webprogram/Paper7059.html

3.

This discussion question revolves around having all the necessary information available to make appropriate coverage or treatment decisions. In a successfully implemented system all the information needed would be available for providers and consumers to make appropriate choices. In an information imperfect system however, key information is missing. A great example of this is the approximately 41 million Americans with inadequate healthcare

coverage (The Commonwealth Fund, 2017). Some of these individuals may have simply purchased minimal plans due to the individual health mandate, however we now know it was very unsuccessful in driving people to the

market place. This means individuals chose healthcare plans based on what they felt was appropriate for their current health conditions. If an aid was provided by the insurance company allowing the individual to input their

information and inadequate coverage was recommended, an information imperfect system was utilized in guiding the individual. Had all the necessary information been requested a plan that covered all of the individuals needs

and some would have been recommended. This causes a great deal of inefficiency because individuals forgo treatment until symptoms become so bad treatment is required. When they reach this point treatment often is far more

difficult, consumes more supplies, and costs much more.

As mentioned above information imperfection can impact treatment, and likely a driving force behind the requirement of Electronic Health Records (HER’s). Between 2009-2013 nearly 30% of all malpractice claims revolved around

miscommunication, resulting in a cost of $510 million for the industry (Kern, 2016). Anytime a malpractice complaint is filed the efficiency of the system erodes as the attention to medical services is slightly diverted in dealing with

legal matters. Furthermore, failing to communicate properly can increase medical waste and cause unforeseen complications with procedures.

Whether it’s an insurer or medical provider information imperfections within healthcare can be costly and have a negative impact on the efficiency of the industry as a whole.

Kern, C. (2016, February 11). Healthcare Miscommunication Costs 2,000 Lives And $1.7 Billion. Retrieved July 6, 2019, from https://www.healthitoutcomes.com/doc/healthcare-miscommunication-costs-lives-and-billion-0001

The Commonwealth Fund. (2017, October 30). Number of Americans with Inadequate Health Insurance Coverage Rose Sharply in 2016. Retrieved July 6, 2019, from https://www.commonwealthfund.org/publications/newsletter-article/2017/oct/number-americans-inadequate-health-insurance-coverage-rose

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.

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