Keresés

Keresési eredmények

• Just-in-Time system in terms of real options

  Rózsa Andrea

  Megtekintések száma:

  94

  The value creation process in a company and the competitive position are critically influenced by corporate resource allocation and proper valuation of investment alternatives. After the Second World War, capital budgeting and strategic planning emerged as two complementary but different systems for resource allocation. The real options approach developed in the ’80s may provide a useful tool for making a connection between capital budgeting and strategic management. Real options are implicit managerial and operating flexibilities embedded in many non-financial assets and liabilities. In a wider sense: “A real option is the investment in physical assets, human competence, and organisational capabilities that provide the opportunity to respond to future contingent events” (Kogut-Kulatilaka, 2001). This paper shows that Just-in-Time (JIT) system as management philosophy can be regarded as a knowledge-based or capability-based implicit strategy rather than a simple, easy-toimitate best practice approach. Moreover, implementation of JIT can be considered as a strategic investment. The presentation focuses on how the relation among strategic investments, developed technological systems and corporate strategy can be expressed through the real options view.

• Efficiency and resource allocation: the Hungarian managed health care system

  Jóna György

  Megtekintések száma:

  82

  The managed health care system (MHCS) was introduced and applied in Hungary between 1999 and 2009. The gradually expanding system covered only 22% of the population and included exclusively the curative-preventive health care, subsidy on medicaments, subsidy on therapeutic appliances and the spa service. Like anywhere else it was cost-effectiveness that was expected from the MHCS without the adverse effect in the quality of the health service. To decide whether the MHCS was successful in Hungary or not, we compare it with the results of those segments of the health system where the MHCS was not introduced. We use the method of the incremental cost analysis. We are making our comparison exclusively on the basis of health economics aspects, because no difference has evolved in the quality of the medical attendances. We will see that where the MHCS was applied, the medical attendance became cheaper, at those places where the MHCS was not applied the medical attendance became more expensive, causing a chronic financial deficit (137785 million HUF). Although the MHCS managed from less money, it gained 17767 million HUF during the mentioned ten years. We are going to present the general features of the MHCS and support the fact that the outcome of the managed care concept was rationalized and the savings in several segments of health care, by means of empirical evidence.

  Journal of Economic Literature (JEL) classification: I150, I180, G220, G320, H520.

• Implementing Risk Adjusted Capitation Payments with Health Care Reforms in Hung

  147-160

  Nagy Balázs

  Brandtmüller Ágnes

  Megtekintések száma:

  169

  Since the late nineties Hungarian governments have been considering the introduction of new health care arrangements by establishing organizations with devolved responsibilities for the management of health care. These organizations are typically financed through a weighted (risk adjusted) capitation system which is regarded as an adequate and optimal tool for resource allocation purposes. Through capitation one needs to handle large inequities in the Hungarian health care system and keep an eye on the incentives for efficiency. For the capitation formula a relatively broad choice of risk adjusters are available in the form of pharmacy- and diagnosis-based patient level utilization data (health-based adjusters) and area level socio-economic data (non health-based adjusters). The instant application of health-based adjusters has limitations because they reflect a distorted provider structure and offer perverse incentives; therefore a gradual shift from using non health-based adjusters to health-based adjusters is preferred. The early phase of the capitation system also implies a strong presence of risk sharing arrangements and other complementary policies. Given that promoting efficiency and equity are to be pursued, the capitation approach outlined in this paper should serve as a guide to future Hungarian health care system reforms.

  Journal of Economic Literature (JEL) code: I28, G28, G32, H51