One of the fundamental concepts in economics is utility, which, in the cant of the profession, means whatever works for you. Utility is a need, a preference, a source of satisfaction; if it improves your physical, spiritual or emotional well-being, then it’s said to give you utility.
Many people assume that utility is associated . . . → Read More: Utility & the Economics of Happiness: How to Measure Your State of Well-Being
In the medical industry, there is a dirty word called “bundling.” Bundling is the combining of multiple procedure codes into a general substitution code that ignores procedure code modifiers. Essentially, it is one of the ways insurance companies figure out how to pay doctors less. Here is an example of how the mechanics of . . . → Read More: Health Insurance Companies Take Advantage of Doctors, Part III
The U.S. stock market has been nothing if not volatile this year, especially over the course of the past few weeks. As the current credit crisis tightened and the world watched in horror, what most people saw was the stock market spiking and plummeting, often on mere rumor and speculation, and sometimes on . . . → Read More: What’s a Credit Crunch and Why Should We Care?