All parties should be cognizant of the terms of the contract and examine and be aware of the advantages as well as the disadvantages of their contract. On a good note an exclusive contract can ensure that the services are always available, help to avoid self-referrals, and can expedite patient evaluations during the contract period (James, James & James, 1994). On the other hand, this type of contract can lead to undesirable results. Some advantages of an exclusive contract can be the services rendered along with physicians and other personnel and the technology are in a single location which will reduce operations and overhead costs (James et al., 1994). An exclusive contract can also lessen economic bias since they hold a contract exclusively …show more content…
Equitable remedies are enforced when money damages does not adequately satisfy the non-breaching party. Some types of equitable remedies available are: Rescission which allows the non-breaching party to cancel their contractual responsibilities. Reformation whereby the parties can modify the contract so it reflects what each party’s responsibility will be. Lastly, specific performance which is a court order that requires the original contract to be fulfilled by the breaching party. On the other hand there are legal remedies which are monetary damages of one form or another that are awarded to the non-breaching party. These remedies include punitive damages that payments that are paid to the non-breaching party for full compensation and is also used to punish the guilty party and to deter them from participating in that manner again (“Remedies against,” n. d.). Consequential damages that will reimburse the innocent party for costs that resulted from the breach. Compensatory damages are given to the non-breaching party for the breach. Liquidation Damages are often awarded when it is difficult to determine the actual amount of damaged a party received due to a breach and collect attorney fees and costs incurred as a result of legal proceedings (“Remedies against,” n. d.). Some other remedies are cancellation and restitution which allows the non-breaching party to cancel the contract and sue for restitution if the breaching party received any benefits under the contract. Another remedy is nominal damages in which are small awards or tokens given to the non-breaching party when a breach occurs and there is usually no real money loss experienced by the non-breaching party in this matter (“Remedies against,” n.
Damages in the United States include two categories. Compensatory damages are intended to compensate for the plaintiff’s loss. Punitive damages, on the contrary, are meant to punish the defendant .The punitive damages exceed the plaintiff’s loss, to dissuade the defendant from any further wrongdoings. For instance, having a company pay significant punitive damages may encourage it to greater caution. Another difference between the two categories is the money involved. If the damages are compensatory, the money usually goes entirely to the plaintiff, but if they are punitive, part of the money goes to the law firm and part to the plaintiff.
Health care is a capital-intensive business and most health care institutions survive on traditional equity and debt financing. Healthcare institutions consider leasing for various reasons: to avoid the lengthy process of capital budget requests, to avoid technological delays, to benefit from maintenance services and for convenience.
General Practices Affiliates is considering an offer from Titus Lake Hospital to join under a provider leasing model. Under a provider leasing model, Titus Lake Hospital is purchasing General Practices Affiliates’ services. The practice will retain control of personnel, management, and practice policies. Titus Lake Hospital submitted financial reports to assure transparency during the lease agreement process. The following analysis will discuss whether Titus Lake hospital is a viable financial partner for General Practice Affiliates, possible implications of the lease, and recommendations.
If a breach of contract is both material and opportunistic, the injured promisee has a claim in restitution to the profit realized by the defaulting promisor as a result of the breach. Liability in restitution with disgorgement of profit is an alternative to liability for contract damages measured by injury to the promisee.
Leverage can be achieved through numbers, competition, and quality of care. Jamie Oh (2010) lists the following strategies that physicians and hospitals can use to effectively negotiate future service-delivery contracts:
Health plans face a set of strategic choices in maximizing plan objectives. First, plans must decide whether to diversify product lines (e.g., HMO, PPO,etc.)(Anton, 1996). Medicinal services cost ascended at double the inflation rate from the mid 1980 's to mid-1990 's making a 1 trillion dollars’ industry that represented 14% of the US GDP (Gross Domestic Product). Before the end of century, the medicinal services industry had developed to more than 1.5 trillion dollar or 18% of GDP. In 1995 about 3 quarters of American specialists were guaranteed by HMO (Health Maintenance Organizations), PPO (Preferred Provider Organization) and POS (Point-of-Service) arranges up from just 27% in 1987.
Another downfall to HMO coverage is selective-contracting. This is a process where hospitals deny treatment to patients because their...
In the course of an average day, you and your colleagues will work closely with any number of outside vendors who provide things like brand name medications, diagnostic equipment, software solutions, and more. But it's important that these relationships don't influence members of the organization to advocate one treatment or procedure over another. You may be asked to play an active role in monitoring staff and creating policies to prevent outside relationships from inappropriately affecting the manner in which care is delivered.
Imagine a world in which there are no rules and brutal competition leaves people fighting for reputation, personal gain, and the safety of themselves and their family. Every waking moment you must be vigilant, not knowing who to trust or which breath might be your last. This scenario is what Thomas Hobbes describes in his Leviathan as the state of nature, the “war of all against all” that persists without the presence of a strong governing body.1 This paper will outline Hobbes’ arguments on why surrendering some of our freedoms is rational and how nothing is unjust without a commonwealth, while also presenting objections to the social contract theory and, in turn, evaluating those oppositions.
When it comes to contracts, there are certain elements or requirements, which need to be met in order for the contract to be valid. Defined, a contract is “an agreement that can be enforced in a court; formed by two or more parties who agree to perform or refrain from performing some act now or in the future” (Hollowell & Miller, 2014, p. 110). With contract law, there is the enforcement of promises made between two parties, even if made in private. Additionally if a promise is made, there is the possibility of the obligation falling into a moral liability rather than a legal liability. All in all, when it comes to business agreements, contract laws will apply to avoid any possible problems that may arise.
and remedies applied by courts of law in civil proceedings giving the plaintiff or claimant relief
reimbursement determinations. As a result, the camaraderie among physicians has developed into a more aggressive approach to impede competition (Shi & Singh, 2012). Little information is shared with patients in regards to procedures or disease control. The subjects are forced to rely on the internet for enlightenment on the scope of their illnesses (Shi & Singh, 2012). Furthermore, the U.S. health care system fails to provide adequate knowledge on billing strategies for operations and other medical practices. The cost in a free system is based on supply and demand and is known in advance of hospital admission (Shi & Singh, 2012). The need for new technology is another characteristic that is of interest when considering the health care system. Technology is often v...
Among them is its emphasis on productivity. Fee for service encourages the delivery of care and maximizing patient visits. As a payment mechanism, it is relatively flexible in that it can be used regardless of the size or organizational structure of a physician’s practice, the type of care provided such in clinic visit, surgery, therapy session, and the place of service such as physician’s office, nursing home, hospital, surgery center or the geographical location of care. Fee for service does support accountability for patient care, but it is often limited to the scope of the service a particular physician provides at any point in time. Although fee for service is easy to understand conceptually, it can be difficult to understand in practice. Patients may struggle to decipher the coding and nomenclature involved in billing, manage the numerous bills and explanations of benefits they might receive, and understand its application in inpatient settings, especially for lab, radiology, and anesthesia services. Because payment is limited to one provider for one interaction, fee for service does little to encourage management of care across settings and among multiple
...d about the economic nature of new technologies, Dr. Slez emphasized that “costs almost always increase with new equipment”. When deciding whether or not to adopt a new technology, Dr. Slez cited cost of implementation, industry standard, and efficacy relevant to the current market as his primary considerations. “If a treatment costs more but is no more effective, we won’t adopt it” he continued. Technology, as with all other aspects of the firm, must be consistent with that firm’s goals; excellent care at an affordable cost.
Damages – if the other party cause’s drastic damages that cost the other party or affect it negatively than the other party can sue and take them to court of law, and the court may claim that the affected party may be paid and be taken back to its original position as it was