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Exam 10: Prices

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Question 41

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Organizations will often use a penetration pricing strategy to discourage competitors from entering the market.

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Question 42

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When healthcare consumers are shown quality data, demand can become elastic.

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Question 43

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In mature industries, a common pricing objective would be:

Profit is a major objective in the early stages of competition for a product or service.

Total costs are the sum of fixed and variable costs divided by indirect costs.

Patents for a pharmaceutical product can be extended by:

The bronze, silver, and platinum health insurance plans on state and federal health exchanges may be considered an example of price lining.

With stabilization pricing, all competitors agree to set the same price.

Many healthcare organizations offer patients discounts when they pay cash. This might be considered an allowance.

Price sensitivity has been found to differ by type of service but not by customer type.

In prestige pricing, as the price rises, demand:

Costs that do not change with the volume produced are:

Setting a high price relative to the competition or the true cost of a product is referred to as:

When a health system implements a narrow network plan to insure consumers, the system is using a market-share pricing objective.

International healthcare organizations are moving into bundled pricing of services as a way to attract medical tourists.

Products or services that are hard to differentiate in a tangible way are often priced using:

A market condition where there are a few sellers is referred to as:

Coinsurance represents the fixed amount the person pays in getting a medical service.

The simplest pricing method to administer that instills consumer confidence is the one-price policy.

When buyers have a lot of power because they have consolidated, they can force suppliers to lower their prices.