Abstract This is a short paper reviewing the June 2005 web posting to the Guidant.com website highlighting Medicare's payment system to hospitals for inpatient and outpatient services and Medicare's Resource Based Relative Value Unit payment system to physicians. The article is divided into 5 major sections plus a well designed diagram and the paper follows the same topical outline.
From the Paper "Medicare, Medicaid and various governmental or public health insurances are continually under scrutiny and revision with current plans for revision looking at the Japanese model of paying a physician: paying physicians and hospitals based on keeping individuals well. Medicare is one of the most widely discussed and most frequently revised plans. "
Abstract This paper provides an overview of electronic payment methods and outlines the relative advantages of electronic payment methods both for customer service and increased profitability. The main features of electronic payment cards, which include credit cards, virtual credit cards, debit cards, and charge cards, are described, and the main characteristics of successful e-payment methods are outlined. The recent successes of PayPal and VeriSign are outlined, and the author's personal interest in the subject is discussed.
Outline
Electronic Payment Methods
Main Features of Electronic Payment Methods
Electronic Payment Methods, PayPal and VeriSign
Personal Interest in Electronic Payment Methods
Additional Information on Electronic Payment Methods
From the Paper "Successful e-payment methods share a number of characteristics. These are: independence, interoperability and portability, security, anonymity, divisibility, ease of use, and transaction fees. Independence refers to the ability of e-commerce methods to operate without installing specialized software. Those e-commerce methods that do not require specialized hardware or software are more likely to be successful. Interoperability and portability refers to the ability of forms of e-commerce to interlink with other enterprise applications and systems. Security is an important consideration that encompasses the safety of the transfer and the chance of the transfer being intercepted. Anonymity is a characteristic of cash payments, where payment cannot be traced back to the buyer."
This paper discusses and analyzes the United States balance of payments, an overall statement of all economic transactions between the U.S. and all other countries over a year's time.
Abstract This paper analyzes line-by-line the tables that represent the Balance of Payments and show the amount of money received from other parts of the world and the amount spent abroad. The author concludes that the recession of 2001 had only a marginal impact on the trade deficit, mostly because the rest of the world had weakened along with the U.S..
Table of Content
Introduction
Item Analysis
Current Account
Capital Account
What the Balance of Payments Says About the Economy
Balance of Payments in 2000 and 2001
Year 2000
Balance of Payments Data -- 2000 and 2001($millions)
Comparison of U.S. Balance of Payments Current Account Data Line 18-38
Comparison of U.S. Balance of Payments Data Capital Account
Analysis
From the Paper "Basically, the first section of the balance of payments is made up of a current balance, which summarizes imports and exports; net income on investments, such as payments of profits and interest on debt; and transfers between individuals. The second section represents a capital balance of payments that records investments and loans, including those made by multinationals and banks. U.S. Exports include all goods or services produced in the U.S. and sold to other countries in the international market. U.S. Imports are goods or services produced in other countries and sold in the United States. An increase in U.S. receipts (such as an increase in U.S. exports) will lead to increased demand for dollars and an increased supply of foreign currency on foreign exchange markets."
Abstract Mobile payment is paying for goods or services with a mobile device such as a phone, Personal Digital Assistant (PDA), or other such device. They can be used in a variety of payment scenarios. Typical usage entails the user electing to make a mobile payment, being connected to a server via the mobile device to perform authentication and authorization and subsequently being presented with confirmation of the completed transaction. The paper focuses on Secure Mobile Payment Service (SEMOPS), a project for developing a secure, universal electronic payment service, which allows real time payment transactions independently of the type and value of the purchase.
From the Paper "The service concept follows a whole new approach in electronic commerce, as it is built on the credit push concept. Having selected the required goods the customer receives certain transaction related data from the merchant. Customers do not provide any sensitive data to the merchant during the payment process; therefore they can practically remain anonymous. Having received the necessary transaction details, the customer prepares and signs a payment request and forwards it to his or her own payment processor. If the necessary funds are available, the merchant receives a payment notification, which is a kind of guarantee from its own payment processor."
Abstract This paper presents a brief explanation of what a country's balance of payments is and the main elements of the balance of payments. The paper discusses the links between a country's balance of payments and its rate of economic growth, as well as the links between a country's balance of payments and the exchange rate of its currency. The paper analyzes the main reasons for the United States' balance of payments deficits over the past five years and examines the effects of these deficits upon the economy.
From the Paper "Currently, the U.S. in 2004 maintains a deficit in merchandise trade and the absence of strong net investment income inflows, a current account deficit. This has occurred for some time, but before these deficits were of not much concern, as they were theoretically and comfortably offset by the current account surpluses, such as the purchase of U.S. assets by foreign individuals and institutions. The result was such that net flow of receipts and payments was in balance, allowing for statistical discrepancy, without the need to any type of official transfers. (Ruby, 1999) But concern in light of the continuation of this state of affairs, combined with a weakened U.S. dollar has grown and the widening deficit reveals US continued and more sustained reliance on foreign cash than previously thought. (J Hughes, Financial Times, 15 September 2004) "
Abstract This paper explains that electronic banking, also known as electronic fund transfer or EFT, uses the computer and electronic technology instead of traditional checks and other paper transactions. The author points out that electronic payment systems, in comparison to tradition labor-intense systems, require human intervention only in specific problem cases thus saving the companies and their consumers time and money; however, customer self-service, through electronic payment systems, does not reduce costs if customers do not use it as an alternative to the traditional paper method. The paper relates that electronic commerce in developing countries permit better access to information and marketing opportunities but also have negative aspects such as delays and questionable security.
Table of Contents
Electronic Fund Transfer
Electronic Payment System
Global Electronic Payment Systems and E-Commerce
Electronic Payment Systems in Developing Countries
From the Paper "At present, business organizations, consumers and government agencies throughout the world take advantage of payment technologies to send and receive funds (Kushawara 2003). Consumers pay their taxes and make other payments electronically; governments receive these taxes and distribute refunds also electronically; and enterprises put these modern technological tools to move payments and other funds. Electronic business payments have proved valuable in saving money, improving efficiency and helping deliver better returns to shareholders. With these benefits, organizations are better able to use their financial and human resource on more important or critical objectives and activities than on processes that need to be automated."
Abstract This paper discusses the various payment methods across the United States. These payment methods consist of paper currency, checks, traveler's checks, debit cards, credit cards and newer payment methods. The newer payment methods are typified by PayPal which is clearly becoming a widely used and accepted form of payment beyond its original use related solely to eBay purchases.
From the Paper "Payment methods have evolved over time with and at the same pace as advances in technology. While physical currency is under no threat of disappearing in the near to mid-term, the changing buy and consumption habits of the United States' consumers is moving in tandem with evolving payment methods in a manner that makes physical currency seem less relevant. Some researchers describe this dynamic in the following manner: "All consumption activity has increasingly become technologically mediated over the past few decades. The shopping experience has been transformed by its technological infrastructure" (Lally, 2002, p.117). Increasingly, this technological mediation in the consumption experience is currency and payment related. No longer is cash considered king and many of the once cutting edge payment methods available to consumers are now considered quaint or archaic."
Abstract The paper discusses the prospective payment system developed as a quality comparison tool in order to address the increasing costs generated from the Medicare system. The paper relates that the federal government introduced the prospective payment plan into the Medicare system and that under this system, hospitals are paid a pre-determined rate for each Medicare admission.The paper then discusses the effectiveness of the payment system and highlights the strengths and weaknesses. The paper concludes that the prospective payment system has withstood the test of 22 years and its strengths and weaknesses will continue to be debated but according to government standards, it has been an effective system.
Outline:
Introduction
Effectiveness of Prospective Payment Strengths
Weaknesses
Conclusion
From the Paper "The Prospective Payment System is a way for spending to be curbed within the private sector (Tieman, 2003). Hospitals and healthcare facilities are given incentive to be efficient and cost-effective (Coulam and Gaumer, 1991). When the Prospective Payment System was implemented, there were strongly held expectations among promoters and skeptics (Coulam and Gaumer, 1991). Promoters of the policy hoped that payment reduction would be matched by lower levels of spending through a reduction in lengths of stay, a reduction in the intensity of care, and therefore, more efficient hospital operations. "
Abstract The paper explains that there are five parties involved in a payment card transaction including the card holder, merchant, issuing bank, acquiring bank and payment card network. The paper attempts to illustrate how these parties involved in any payment card transaction are together creating more integrated solution platforms and programs for small business. The paper also explores the security and privacy considerations for small businesses accepting payment cards.
Outline:
Introduction
Payment Card History
Information Systems Considerations
Legislative and Regulatory Issues
Privacy and Security Concerns
From the Paper "Reliance on all forms of electronic payment is increasing at an exponential rate. Given the pervasiveness of the Internet and its role as a clearinghouse for transactions (Chen, Lee, Mayer, 2001) on-line payments continued to serve as the catalyst for supporting the following three dominant payment card systems which are credit cards, debit cards, and stored value card-based systems. The information systems planning, requirements, and execution considerations for a small business who seeks to accept credit, debit and value-based cards are analyzed and presented in this paper. Also included are the legislative and regulatory issues of payment cards and a discussion of privacy and security concerns as well. One of the most urgent issues facing this industry today is the adherence to the Payment Card Industry (PCI) Data Security Standard (Sussman, 2008)."
Tags: credit, transactions, privacy, security, customer, data
Abstract This paper explains that the prospective payment system has been used to offset the cost of care and to alleviate the complications faced by those who enter the nursing homes. The author points out that the prospective payment system has undergone criticism and scrutiny since its inception, but is still considered the most viable plan for the financial responsibility of those entering nursing homes. The paper states that the foundational objective of the prospective payment system is to reduce the rates of increase when it comes to Medicare inpatient payments.
From the Paper "The Prospective Payment System has changed the way the practice admissions in 70 percent of the nursing homes across the nation. According to nursing home administrators the patient's medical history is scrutinized at a much more close range than they were before the implementation of the Prospective Payment System. "Most administrators state that they scrutinize patients" medical status to a greater extent than they did prior to the implementation of the prospective payment system. Medical condition has become more important in nursing home admissions decisions. Seventy-four percent of nursing home administrators report that a patient's medical condition has become a more important factor in admissions decisions under the new reimbursement system.""
Tags: admissions, objective, medicare, criticism, plan
An examination of why the adoption of electronic bill presentment and payment (EBPP) is different for different age groups, and of effective marketing strategies to increase EBPP awareness and adoption.
Abstract This paper presents an in-depth study of the growing use of electronic bill presentment and payment (EBPP) technology to make payments. The writer discusses different payment and statement presentment models, and examines several case studies evaluating biller and consumer preferences and expectations. The writer concludes that although it has taken longer to adopt EBPP technology than was originally projected, the rate of adoption is witnessing a startling growth and is expected to grow even faster over the next several years. The paper includes several charts, tables and graphs.
Outline:
Objective
Introduction
EBPP Payment Models and Applications
Model Components
Consumer Generational Preferences
Case Studies: A Review
Summary & Conclusion
From the Paper "It cannot be stressed enough that the EBPP system that is effective, accepted and trusted by the consumer is one that is user friendly, secure, and is generally one that is user-centric catering to the desires and needs of the consumer in paying their bills and viewing their bills online. Studies have stated findings that providing consumers with how-to guides and tutorials is also important in gaining the acceptance of users for EBPP technology. It is critically important the consumer feel that he or she is in control of all transactions that take place through EBPP technology applications."
Abstract This paper presents an in-depth study of electronic payment systems, their history, advantages and disadvantages. The paper describes the different forms of electronic payment systems and discusses the impact of the internet and electronic cash on the banking system and how we exchange money. Definitions of different types of electronic currency are provided as well as a brief comparison of electronic money systems in Europe and the United States. The paper also discusses smart card technology. Finally, the paper looks at possible electronic payment systems of the future and poses new questions that must be addressed regarding the application and future use of these systems.
History
Foundation of Electronic Banking
Automatic Clearing Houses
Credit Cards
Debit Cards
E-money
Smart Cards
System For the Future
Conclusion
From the Paper "To be able to understand the electronic systems in use today, it is important to look into the early history of electronic banking. All of the systems in use now have their foundations in the early systems that were developed thirty years ago. It is interesting to note that the history of early electronic banking parallels the time frame of Internet development. The Internet has always been an integral part of electronic banking and will continue to play a vital part in the electronic world of the 21st century."
Tags: technical, currencies, community, group, global, communications, encryption, digital
This paper examines the advantages and disadvantages of the legacy payment method which is currently the most widely used form of payment, aside from the direct use of cash.
Abstract This paper explores the various legacy purchase methods currently available which include credit cards, checks and online purchasing, which have basically done away with the need for actual cash. This paper details the various benefits to purchasing items and conducting business by way of a legacy payment method. This paper examines the numerous types of transactions that can be done with the use of a credit card including renting a car, hotel reservations, online and phone purchases. The writer of this paper also delves into the drawbacks of this particular payment method including the risk of exposing personal and financial information to third parties, when paying by credit card. This paper discusses the numerous problems that can arise when making purchases online where personal information is often vulnerable to exposure and unauthorized access. This paper also delves into the various technologies now available which help protect personal and sensitive information from being stolen which include the implementation of encrypted and secure websites.
Table of Contents:
Advantages
Disadvantages
Bibliography
From the Paper "One of the most critical issues that exist in the use of legacy payment methods in a networked environment, such as the credit card, is how secured are the financial and personal information of the credit card users. Especially when used online, where information is oftentimes vulnerable to threats and unauthorized access, there is a high possibility that credit card information may not be secured. This thus is causing great concerns for consumers. One of the processes when using credit cards in an online trading activity is the transmission of credit card numbers. If the server or web site that handles the information exchange between the consumer and the receiver is susceptible to unauthorized access, there is a chance that the credit card information may be stolen and used by another person for his own personal transactions."
This paper looks at four possible uses of the American budget surplus (of 2000). The four possibilities are retiring debt, increase government spending, increase government transfer payments, or cut taxes.
2,927 words (approx. 11.7 pages), 19 sources, 2000, $ 86.95
Abstract This paper was written for an Economics 102: Intermediate Macro class. It looks at four possible uses of the budget surplus that our country first saw in 2000. The four possibilities are retiring debt, increase government spending, increase government transfer payments, or cut taxes. Each possibility is looked at with great detail.
The paper looks at the pros and cons of each possibility. A number of government and independent organizations are cited including the Congressional Budget Office, the Office of Management and Budget, and the Committee on Citizens for a Tax Cut. In the paper I conclude that the best course of action would be to split the surplus between retiring debt and increasing government transfer payments. This paper covers all aspects of the budget surplus and possible uses.
Tags: debt, government, military, payments, social, spending, tax, transfer
Abstract The Balance of Payments (BOP) is the method that countries use to monitor all international monetary transactions at a specific period of time. The paper analyzes the current balance of payments adjustments made by the U.S.A. It describes the reasons for the adjustments and discusses the type of adjustment used by the American government.
From the Paper "It was once believed that a nations stock of international reserves was adequate to cover a nation's deficit, but history has shown that results are slow. The incentive for a nation to reduce payments surplus are not direct and immediate like that for reducing a payments deficit. (Carbaugh) The need for adjustment because of persistent BOP disequilibrium tends to have adverse economic consequences. There are two different classifications of BOP adjustments they are either automatic or discretionary. Under a system of fixed exchange rates, automatic adjustments can occur through variations in prices, interest rates, and incomes. The demand for and supply of money can also influence the adjustment process.
