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Hospital CBD

# 4 118 76 259 239 59 212 249 82 105 135

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Unformatted text preview: 23.4% -0.1% -3.9% 2.4% -11.0% -3.0% 5.9% 1.9% -8.7% 0.0% -1.6% -8.2% -4.3% -3.9% -5.7% -13.7% 3.0% -3.9% 0.0% -10.2% -11.5% 2.4% 0.6% -1.3% 1.705 -0.418 5.827 0.351 2.394 1.208 -1.658 -1.226 1.439 0.400 2.037 -0.441 0.143 3.886 2.755 0.252 -1.120 2.088 4.601 0.895 0.435 4.089 10.3% -2.5% 35.2% 2.1% 14.4% 7.3% -10.0% -7.4% 8.7% 2.4% 12.3% -2.7% 0.9% 23.5% 16.6% 1.5% -6.8% 12.6% 27.8% 5.4% 2.6% 24.7% Mean Values Minimum Maximum Mean HMO Mean HMO HMO Profit HMO Profit Profit in M\$ Profit in % in % in % 2.069 12.5% -39.1% 63.3% SIMULATED BIDDING ON AN HMO CONTACT This sheet simulates 5,000 auctions of an HMO hospital care contract, as described in Example 2 of Hospital Administration Example. (i) All monetary quantities are given in millions of dollars. (ii) The HMO expects to collect 16.572 million dollars in yearly premiums. (iii) Each hospital builds a 5% profit margin into its bid. (iv) Computation is based on the simulation in the sheet Example 1. Error in Estimated Cost Minimum Error -1.625 -2.438 -1.277 -0.883 -1.069 0.053 -0.344 -2.978 -2.436 -1.007 -0.298 -1.361 -2.388 -2.028 -2.469 -1.752 -1.329 -1.241 -1.553 -1.012 -1.973 -1.615 -1.605 Mean Minimum Error -1.390 Bids (Estimated Cost Plus 1.390 M\$ Plus 5%) Hospital Hospital Hospital Hospital Hospital Hospital 1 2 3 4 5 6 20.629 20.893 19.242 22.867 20.726 19.031 17.035 15.560 17.461 17.971 14.038 16.561 16.308 18.226 17.030 17.339 15.866 17.489 18.076 18.360 17.578 17.660 18.642 17.509 15.089 15.116 13.299 15.404 14.411 14.991 13.421 13.690 13.906 13.901 14.549 16.026 17.023 16.221 16.063 16.295 17.960 16.861 19.253 21.773 19.172 17.286 19.370 21.168 15.691 17.833 20.105 19.548 18.449 14.835 18.272 18.293 19.285 17.569 18.391 18.140 17.745 17.819 17.183 17.394 17.532 17.515 17.558 15.522 16.268 16.670 15.949 14.980 14.620 14.499 13.485 13.339 11.786 12.881 18.836 20.397 16.205 17.565 17.785 15.356 11.256 11.966 12.498 13.801 14.761 15.355 17.096 15.538 20.131 19.628 18.200 16.996 18.383 17.773 17.442 17.481 16.711 18.805 16.489 16.492 18.098 16.365 18.175 15.927 16.959 19.081 17.539 18.827 19.237 17.928 18.380 19.319 17.892 18.950 19.389 17.984 16.133 18.248 15.650 17.596 17.632 18.559 21.182 20.120 18.008 17.859 18.413 19.541 18.252 21.642 18.559 18.933 20.991 20.222 -2.098 -0.400 -2.365 -0.146 -0.989 -1.640 -0.563 -1.682 -1.413 -1.493 -2.296 -0.653 -0.868 -1.175 -2.373 -1.568 -1.283 -1.281 -2.647 -1.302 -1.172 -1.830 -2.869 -0.207 -2.070 -1.530 -1.536 -0.588 -0.720 -1.969 -1.027 -0.884 -2.608 -1.185 -1.939 -1.543 -0.775 -2.298 -2.320 19.652 15.118 15.695 16.145 17.162 16.024 13.698 12.450 20.247 19.423 15.919 18.891 16.560 16.506 20.751 14.436 19.131 13.935 17.150 16.705 18.145 20.002 20.528 16.660 16.768 17.238 18.112 19.777 13.857 16.989 15.729 18.966 17.336 18.796 18.725 16.925 17.202 20.959 20.952 23.452 14.015 16.936 16.482 18.800 13.692 13.838 14.631 19.418 20.515 17.613 21.169 19.614 13.789 19.592 15.744 18.096 12.562 17.846 17.671 18.764 16.719 20.508 17.512 14.468 16.164 15.159 18.231 14.536 15.051 1...
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