In the case of business, consider the following example:Ī group of customers does not wish to make any online purchases. It also looks at links and causes between studied events or phenomena. The purpose of a retrospective study is to discover how certain events and mindsets have unfolded or how they developed. It falls under cohort studies, which are observational studies that determine how often a phenomenon occurs within a targeted population. This places a retrospective study in opposition to a prospective study, in which researchers choose a survey panel or survey respondents from an online survey tool and follow the subjects over a period of time.Īlso called historical research, a retrospective study inspects the historical data of a group of people. To put it in simple terms, in a retrospective study, researchers gather data on occurrences that have already happened. This article will take a dive into retrospective studies and their accompanying surveys to make their purpose lucid in the business world. That is because this study is not limited to medicine and psychology. Used in retrospective research, these surveys unlock many valuable insights that businesses can use to strengthen their marketing efforts and to better understand their target market. Retrospective surveys entail examining past events to see how they relate to outcomes (a study of interest) discovered at the beginning of a study. While most survey research involves looking into the here and now, there is one type of study that does quite the opposite. Ĭopyright © 1995 - 2016 The Motley Fool, LLC. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. Retrospective Payment Plan originally appeared on. Pop on over there to learn more about our Wiki and how you can be involved in helping the world invest, better! If you see any issues with this page, please email us at. This article is part of The Motley Fool's Knowledge Center, which was created based on the collected wisdom of a fantastic community of investors based in the Foolsaurus. Simply click here to discover how you can take advantage of these strategies. each year! Once you learn how to take advantage of all these loopholes, we think you could retire confidently with the peace of mind we're all after. For example: one easy, 17-minute trick could pay you as much as $15,978 more. In fact, one MarketWatch reporter argues that if more Americans knew about this, the government would have to shell out an extra $10 billion annually. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. If you're like most Americans, you're a few years (or more) behind on your retirement savings. The $15,978 Social Security bonus most retirees completely overlook This not only subjects patients to prolonged and potentially unnecessary treatment, but also puts a strain on healthcare system resources, driving up costs for patients and insurance companies. Some fear that providers might try to abuse the carte blanche nature of these plans by recommending treatments or services that are more complicated and costly than necessary in order to maximize profits. On the other hand, retrospective payment plans come with certain drawbacks. Because providers aren't limited to approved treatment plans, they can adjust their services to meet individual patients' needs. The primary benefit of retrospective payment plans is that they may allow patients to receive more attentive. The insurance company, in turn, may approve or deny payment for the treatment or portions thereof, but healthcare providers generally get paid in full for the amounts they bill. With a retrospective payment plan, a provider will treat a patient and submit an itemized bill to an insurance company detailing the services rendered. Retrospective payment plans pay healthcare providers based on their actual charges. Because providers receive the same payment regardless of quality of care, some might be moved to offer less thorough and less personalized service. Because providers only receive fixed rates, some might seek to employ cost-cutting measures to maximize profits while not necessarily keeping their patients' best interests in mind. Prospective payment plans also come with drawbacks. Additionally, prospective payment plans tend to motivate providers to deliver the most efficient care possible. Prospective payment plans also have the potential to save insurance companies money, and when that happens, some of those savings may be passed on to patients in the form of lower annual premiums and copayments. Because these plans pay fixed rates, providers and insurers can better manage and estimate costs and payments. Prospective payment plans have a number of benefits.
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