Mindblown: a blog about philosophy.
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Elasticity of demand
In health economics, a measure of the sensitivity of demand for a product or service to changes in its price (price elasticity) or the income of the people demanding the product or service (income elasticity). Price elasticity is the ratio of the resulting percentage change in demand to a given percentage change in price. Price…
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Educational commission for foreign medical graduates
An organization sponsored by the AMA, AHA, AAMC, association for Hospital Medical Education, and Federation of State Medical Boards of the U.S. which operates a program of educating, testing and evaluating foreign medical graduates who seek internships and residencies in the U.S. The ECFMG was formed in 1974 by merger of the Educational Council for…
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Economies of scale
Cost savings resulting from aggregation of resources and /or mass production. In particular, it refers to decreases in average cost when all factors of production are expanded proportionately. For example, hospital costs for a unit of service are generally less in 300 than 30 bed hospitals. (There is some evidence that they may be greater…
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Economic stabilization program
A Federal program established to control wages and prices. On August 15, 1971, all wages and prices were frozen for a period of ninety days. During that period a system of wage and price controls administered through a Cost of Living Council was implemented. Controls continued, with periodic changes in the flexibility and the intensity…
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Ecological fallacy
The common erroneous assumption that because two things are associated one must be caused by the other. A statistical term for a logical fallacy in trying to take information from group studies and apply it to individuals. In epidemiology, the erroneous attempt to determine an individual’s specific risk of developing a disease from an analysis…
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Early and periodic screening diagnosis and treatment program
A program mandated by law as part of the Medicaid program. The law (section 1905(a)(4)(B) of the Social Security Act) requires that by July 1 , 1969, all States have in effect a program for eligible children under age 21 “to ascertain their physical or mental defects, and such health care, treatment, and other measures…
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Duplication of benefits
Occurs when a person covered under more than one health or accident insurance policy collects, or may collect, payments for the same hospital or medical expenses from more than one insurer. Individual health insurance policies, under State laws, sometimes include anti-duplication clauses against over-insurance due to two similar policies issued by the same insurer; loss-of-time…
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Dual choice
The practice of giving people a choice of more than one health insurance or health program to pay for or provide their health services. Usually done by employers who offer employees more than one group health insurance program, or a health insurance program and a prepaid group practice to choose from as a benefit of…
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Drug monograph
A rule which prescribes, for a drug or class of related drugs, the kinds and amounts of ingredients which it may contain, the conditions for which it may be offered, and directions for use, warnings and other information which its labeling must bear. Drug monographs established by FDA state conditions under which drugs may be…
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Druggist
Somebody who operates a drug store. Sometimes considered synonymous with pharmacist, but is not always limited to people with a pharmacy degree (or even to operators of drug stores in which prescription drugs are dispensed) and is usually applied only to pharmacists who operate, or at least work in, drug stores.
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