The World's Best Book Summaries
How did health insurance become for-profit? What were the first for-profit insurers to enter the industry? Health insurance didn’t start out as a for-profit business. It began as an employer-sponsored incentive. However, as demand increased, for-profit insurers like Aetna and Cigna began entering the industry. Keep reading to learn about the rise of for-profit health insurance and its pricing mechanisms.
Do you need to generate new ideas for a project? Are you feeling stuck, wondering where the next idea will come from? Even Disney’s world-class creative teams struggle sometimes. During the production of Frozen, they ran up against problems. The solution was to generate new ideas. Read more to discover the techniques that the Frozen creative team used to generate new ideas.
What is the medical loss ratio? How much of their premium revenue do health insurance companies actually spend on medical care? Medical Loss Ratio (MLR) is the percentage of revenue from premiums spent by insurers on medical care. Before the Affordable Care Act, some providers’ ratio was as low as 64%. Today, it is closer to 80%. Here is how medical loss ratio works in the United States.
What difference does psychological safety in the workplace make? How do you know when you have it? Charles Duhigg, in his book Smarter Faster Better, argues that creating a norm of psychological safety in the workplace is crucial for productivity. What is psychological safety, and what are the steps to create it? Duhigg provides a practical guide. Read on to discover how to achieve psychological safety in the workplace.
How are prices determined in the U.S. healthcare system? How do doctors bill for their services? In the United States, prices for medical procedures are determined by the American Medical Association of Physiology (AMA). Once set, the Relative Value Units (RVUs) have systemic national implications, nudging doctors toward performing the higher compensated procedures. In addition, doctors have their own methods to fluff up the patient’s bill. This article takes a look at the pricing in healthcare, including the strategies that doctors themselves use to bill their patients.
What is a one-minute redirect? How can performing one-minute redirects improve your staff’s performance? In The New One-Minute Manager, a one-minute redirect is a way to give immediate, effective, and constructive feedback to your employees when they’re not performing up to standard. This method works better than the typical performance review because it allows employees to correct their mistakes immediately. Learn why you should use one-minute redirects rather than performance reviews.
What makes a great leader? What does Simon Sinek say about leadership qualities? According to Simon Sinek, leadership is so much more than just having authority. True leadership is when you work toward a better future, even if it puts your own career in jeopardy. In this article, we’ll cover Simon Sinek’s views on leadership as expounded in his 2019 book The Infinite Game.
How good are you at setting effective goals? Do you know how to set SMART goals? In Smarter Faster Better, Charles Duhigg discusses how setting effective goals contributes to productivity. He outlines the elements and benefits of SMART goals. He also provides interesting examples from history to illustrate how setting effective goals can make a difference. Read on to learn about setting effective goals—particularly how to set SMART goals.
Looking for The One-Minute Manager quotes? What passages best highlight the lessons from the book? The One-Minute Manager by Ken Blanchard is a business fable for managers. The story teaches three core principles: one-minute goals, one-minute praisings, and one-minute re-directs. Here are the best quotes from Ken Blanchard’s book.
What does it mean to lead with an infinite mindset? What attitude differentiates an infinite-minded leader? A finite-minded leader plays to defeat others. In contrast, a leader who adopts the infinite mindset plays to maintain a healthy position within a competitive field. Sinek outlined five guidelines for leading with an infinite mindset.