©2015 Walden University 1

FM005: Economic Characteristics of the Healthcare Industry: Apply economic concepts to make recommendations for organizational decisions.

Assessment Rubric

0 Not Present

1 Needs Improvement

2 Meets Expectations

3 Exceeds Expectations

Part I: Determine Pricing and Marketing Strategy for a New Drug

Sub-Competency 1: Develop pricing and strategy for marketing a new drug in the U.S.

Learning Objective 1.1: Estimate the demand for a new drug.

Estimation of the demand of a new drug is missing.

Presentation provides an unclear or illogical estimate of demand for the new drug described in the case presented. Calculations are inaccurate or incorrect.

Presentation provides a logical estimate for the demand of the new drug described in the case presented, noting the number of customers for the drug. Presentation is supported by accurate calculations.

Demonstrates the same level of achievement as “2,” plus the following: Presentation justifies estimates used by making reference to data used to inform estimates of demand.

Learning Objective 1.2: Estimate the price of a drug that the market will bear.

Estimation of the price of a drug that the market will bear is missing.

Presentation includes an estimate of the price but the estimate is not plausible. Rationale for the estimate is weak or missing discussion of how effective the drug is and relates this information to its substitutes, and/or it does not take into account the estimates of average life expectancy in the U.S.

Presentation provides a clear and logical estimate for the price of the drug that the market will bear. Rationale is given for the estimate, and it includes discussion of how effective the drug is and relates this information to its substitutes. It takes into account the estimates of average life expectancy in the U.S.

Demonstrates the same level of achievement as “2,” plus the following: Presentation notes other factors, besides the availability of substitutes that could impact price.

Learning Objective 1.3: Description of where, and Presentation includes a Presentation provides a Demonstrates the same

©2015 Walden University 2

0 Not Present

1 Needs Improvement

2 Meets Expectations

3 Exceeds Expectations

Describe where, and to whom, to market a new drug.

to whom, to market a new drug is missing.

partial or unclear description of where, and to whom, the new drug in the case presented should be marketed. Rationale is not logical or missing.

clear and accurate description of where, and to whom, the new drug in the case presented should be marketed. Description is supported by a logical rationale.

level of achievement as “2,” plus the following: Presentation includes strategies for maximizing market share for the new drug.

Learning Objective 1.4: Explain how to ensure that insurance companies pay for a drug.

Explanation of how to ensure that insurance companies pay for a drug is missing.

Presentation explains fewer than three ways to ensure that insurers pay for the new drug, or explanations are unclear or inaccurate.

Presentation explains three clear and accurate ways to ensure that insurance companies pay for the new drug.

Demonstrates the same level of achievement as “2,” plus the following: Presentation explains more than three ways to ensure that insurance companies pay for the new drug.

Learning Objective 1.5: Explain the elasticity of demand for a drug.

Explanation of the elasticity of demand for a drug is missing.

Explanation of the elasticity of demand for a drug like the new one described in the case presented is incomplete, inaccurate, or unclear. Presentation explains fewer than two factors that could potentially change the elasticity of demand or the factors are not relevant.

Presentation clearly and accurately explains the elasticity of demand for a drug like the new one described in the case presented. Presentation clearly and accurately explains two factors that could potentially change the elasticity of demand.

Demonstrates the same level of achievement as “2,” plus the following: Presentation includes more than two factors that could potentially change the elasticity of demand for a drug like the new one described in the case presented.

Sub-Competency 2: Explain the role and duration of patent protection in U.S. healthcare.

©2015 Walden University 3

0 Not Present

1 Needs Improvement

2 Meets Expectations

3 Exceeds Expectations

Learning Objective 2.1: Explain how long a drug can receive patent protection.

Explanation of how long a drug can receive patent protection is missing.

Explanation of how long the new drug will receive patent protection is incomplete or incorrect. Explanation does not include references to academic/professional resources, or the resources are not relevant.

Presentation accurately explains how long the new drug will receive patent protection. Explanation includes references to relevant academic/professional resources.

Demonstrates the same level of achievement as “2,” plus the following: Response notes how the requirements for patent protection would differ in other countries.

Learning Objective 2.2: Explain why drugs and healthcare products are covered under patent protection laws.

Explanation of why drugs and healthcare products are covered under patent protection laws is missing.

Explanation of why drugs and healthcare products are covered by patent protection laws is inaccurate or incomplete. Explanation does not include references to academic/professional resources, or the resources are not relevant.

Presentation clearly and accurately explains why drugs and healthcare products are covered under patent protection laws. Explanation includes references to relevant academic/professional resources.

Demonstrates the same level of achievement as “2,” plus the following: Explanation of why drugs and healthcare products are covered under patent protection laws includes a detailed reference to one or more cases involving patent protection.

Part II: Compare International Healthcare Systems to Develop an International Market Entry Stage

Sub-Competency 3: Evaluate conditions for marketing a drug in various countries.

©2015 Walden University 4

0 Not Present

1 Needs Improvement

2 Meets Expectations

3 Exceeds Expectations

Learning Objective 3.1: Compare spending on healthcare, per capita, and life expectancy in various countries.

Comparison of spending on healthcare, per capita, and life expectancy in various countries is missing.

Presentation includes a chart featuring some (but not all) of the four countries, or presents inaccurate statistics on life expectancy and per capita healthcare spending. Information on the chart is not supported by references to academic/professional resources or the resources are not relevant.

Presentation includes an accurate chart comparing the average gross domestic product (GDP) per capita healthcare spending and life expectancy of Germany, the United States, Ghana, and Brazil. Information on the chart is supported by references to relevant academic/professional resources.

Demonstrates the same level of achievement as “2,” plus the following: The chart refers to additional indicators, such as income inequality, infant mortality, spending on education, etc., to support arguments.

Learning Objective 3.2: Analyze the relationship between life expectancy and healthcare spending.

Analysis of the relationship between life expectancy and healthcare spending is missing.

Presentation provides an unclear, vague, or inaccurate analysis of the relationship between life expectancy and healthcare spending. Explanation does not include references to academic/professional resources, or the resources are not relevant.

Presentation accurately and clearly explains the relationship between life expectancy and healthcare spending. Explanation is supported by references to relevant academic/professional resources.

Demonstrates the same level of achievement as “2,” plus the following: Explanation of the relationship between healthcare spending and life expectancy gives examples of factors that weaken the correlation between these two variables—such as, the high cost of healthcare technology or the decreasing marginal gains from healthcare expenditures.

©2015 Walden University 5

0 Not Present

1 Needs Improvement

2 Meets Expectations

3 Exceeds Expectations

Learning Objective 3.3: Describe how different countries structure their healthcare systems.

Descriptions of how different countries structure their healthcare systems are missing.

Presentation inaccurately or vaguely describes how the United States, Ghana, and Brazil structure their healthcare systems, or not all three countries are addressed. Description does not include references to academic/professional resources, or the resources are not relevant.

Presentation accurately and clearly describes how the United States, Ghana, and Brazil structure their healthcare systems. Description is supported by references to relevant academic/professional resources.

Demonstrates the same level of achievement as “2,” plus the following: Presentation includes a fifth slide, which summarizes the key differences in the structures of the healthcare systems of the four countries.

Learning Objective 3.4: Analyze the economic strengths, weaknesses, opportunities, and threats associated with entry into different healthcare markets.

Analysis of the economic strengths, weaknesses, opportunities, and threats associated with entry into different healthcare markets is missing.

Analysis includes fewer than two economic strengths, weaknesses, opportunities, and threats associated with entry into each of the following healthcare markets: Germany, the United States, Ghana, and Brazil; or all four markets are not addressed, and/or the strengths, weaknesses, opportunities, and threats are not accurate.

Analysis includes two economic strengths, two weaknesses, two opportunities, and two threats associated with entry into each of the following healthcare markets: Germany, the United States, Ghana, and Brazil.

Demonstrates the same level of achievement as “2,” plus the following: Analysis includes more than two economic strengths, more than two weaknesses, more than two opportunities, and more than two threats associated with entry into each of the following healthcare markets: Germany, the United States, Ghana, and Brazil.

Learning Objective 3.5: Make recommendations for countries that are most

Recommendations for countries that are most appropriate for marketing a new drug are missing.

Recommendation is made for only one country that is appropriate for marketing the new drug described in

Recommendations are made for two countries that are most appropriate for marketing the new

Demonstrates the same level of achievement as “2,” plus the following:

©2015 Walden University 6

0 Not Present

1 Needs Improvement

2 Meets Expectations

3 Exceeds Expectations

appropriate for marketing a new drug.

the case presented and/or the rationale for the selection(s) is illogical or not based on economic principles.

drug described in the case presented. Presentation provides a clear and accurate rationale for the selection of the countries. The rationale is based on economic principles.

Presentation compares and contrasts different healthcare markets to illustrate why recommended countries are most desirable for market entry.

Sub-Competency 4: Analyze the cost-effectiveness of a drug.

Learning Objective 4.1: Explain the gain in health outcomes in a drug.

Explanation of the gain in health outcomes in a new drug is missing.

Explanation of the gain in health outcomes that the new drug described in the case presented provides is incomplete, inaccurate, or unclear.

Presentation clearly explains the gain in health outcomes that the new drug described in the case presented will provide.

Demonstrates the same level of achievement as “2,” plus the following: Presentation addresses two gains in health outcomes that can be expected from the new drug (for example, both individual and social benefits).

Learning Objective 4.2: Compare the effectiveness of different drugs for a particular disease or health condition.

Comparison of the effectiveness of different drugs for a particular disease or health condition is missing.

Presentation provides weak or general comparison between the new drug described in the case presented, and two other drugs, for their effectiveness in treating the targeted disease, or only one other drug is addressed.

Presentation provides a detailed comparison between the new drug described in the case presented, and two other drugs, for their effectiveness in treating the targeted disease. Comparison is supported

Demonstrates the same level of achievement as “2,” plus the following: Comparison supported by compelling data shown in graphics/charts.

©2015 Walden University 7

0 Not Present

1 Needs Improvement

2 Meets Expectations

3 Exceeds Expectations

Comparison does not include references to academic/professional resources, or the resources are not relevant.

by references to relevant academic/professional resources.

Learning Objective 4.3: Compare the effectiveness of a drug for different people.

Comparison of the effectiveness of a drug for different people is missing.

Presentation inaccurately indicates how many people will benefit from the drug, and/or presentation only partially or vaguely explains why some people will benefit from the drug more than others. Explanation is not supported by academic/professional resources, or the resources are not relevant.

Presentation accurately indicates how many people will benefit from the drug. Presentation clearly explains why some people will benefit from the drug more than others. Explanation is supported by relevant academic/professional resources.

Demonstrates the same level of achievement as “2,” plus the following: Explanation of why some people will benefit from the drug more than others is supported by two or more specific examples.

PS001: Written Communication: Demonstrate graduate-level writing skills.

Learning Objective PS 1.1: Use proper grammar, spelling, and mechanics.

Multiple major and minor errors in grammar, spelling, and/or mechanics are highly distracting and seriously impact readability.

Multiple minor errors in grammar, spelling, and/or mechanics are distracting and negatively impact readability.

Writing reflects competent use of standard edited American English. Errors in grammar, spelling, and/or mechanics do not negatively impact readability.

Grammar, spelling, and mechanics reflect a high level of accuracy in standard American English and enhance readability.

Learning Objective Writing is poorly organized Writing is loosely Writing is generally well- Writing is consistently

©2015 Walden University 8

0 Not Present

1 Needs Improvement

2 Meets Expectations

3 Exceeds Expectations

PS 1.2: Organize writing to enhance clarity.

and incoherent. Introductions, transitions, and conclusions are missing or inappropriate.

organized. Limited use of introductions, transitions, and conclusions provides partial continuity.

organized. Introductions, transitions, and conclusions provide continuity and a logical progression of ideas.

well-organized. Introductions, transitions, and conclusions are used effectively to enhance clarity, cohesion, and flow.

Learning Objective PS 1.3: Apply APA style to written work.

APA conventions are not applied.

APA conventions for attribution of sources, structure, formatting, etc., are applied inconsistently.

APA conventions for attribution of sources, structure, formatting, etc., are generally applied correctly in most instances. Sources are generally cited appropriately and accurately.

APA conventions for attribution of sources, structure, formatting, etc., are applied correctly and consistently throughout the paper. Sources are consistently cited appropriately and accurately.

Learning Objective PS 1.4: Use appropriate vocabulary and tone for the audience and purpose.

Vocabulary and tone are inappropriate and negatively impact clarity of concepts to be conveyed.

Vocabulary and tone have limited relevance to the audience.

Vocabulary and tone are generally appropriate for the audience and support communication of key concepts.

Vocabulary and tone are consistently tailored to the audience and effectively and directly support communication of key concepts.

PS003: Technology: Use technology tools effectively.

Learning Objective PS 3.1: Use images and layout of presentations to effectively communicate content to a specific audience.

Images and layout are inappropriate, hard to read, and/or impede audience understanding of key concepts.

Images or layout provide limited support for audience understanding of key concepts.

Images and layout generally support audience understanding of key concepts.

Images and design elements are used purposefully, and they effectively support audience engagement and understanding of key concepts.

PS005: Critical Thinking and Problem Solving: Use critical-thinking and problem-solving skills to analyze professional issues and inform best practice.

Learning Objective Analysis of assumptions is Response is weak in Response generally Response clearly and

©2015 Walden University 9

0 Not Present

1 Needs Improvement

2 Meets Expectations

3 Exceeds Expectations

PS 5.1: Analyze assumptions and fallacies.

missing. assessing the reasonableness of assumptions in a given argument. Response does not adequately identify and discuss the implications of fallacies or logical weaknesses in a given argument.

assesses the reasonableness of assumptions in a given argument. Response identifies and discusses the implications of fallacies and/or logical weaknesses in a given argument.

comprehensively assesses the reasonableness of assumptions in a given argument. Response provides a detailed and compelling analysis of implications of fallacies and logical weaknesses in a given argument.

Learning Objective PS 5.2: Generate reasonable and appropriate assumptions.

Assumptions are missing. Response does not adequately present and discuss key assumptions in an original argument.

Response presents and discusses key assumptions in an original argument.

Response justifies the reasonableness and need for assumptions in an original argument.

Learning Objective PS 5.3: Assess multiple perspectives and alternatives.

Assessment of multiple perspectives is missing.

Response does not identify nor adequately consider multiple perspectives or alternatives.

Response identifies and considers multiple perspectives and alternatives.

Response justifies selection of chosen alternative relative to others.

Learning Objective PS 5.4: Use problem-solving skills.

Problems and solutions are not identified.

Response presents solutions, but they are ineffective in addressing the specific problem.

Response presents solutions that are practical and work in addressing the specific problem.

Response presents compelling supporting arguments for proposed solutions.

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"FIRST15"

Order Now