How should physicians set prices for individual service and team-based service in the online environment? A view from the price difference (Preprint)

BACKGROUND Price which has a significant effect on consumers’ exchanging value perception plays a decisive role in the product market. Different from the traditional medical market, the online medical market allows physicians considerable discretion in setting prices of their services, which begin to be paid close attention to. Physicians face a challenge with the introduction of various service styles. Some studies have begun to examine the role of price in the online medical service environment, however, limited studies have explored them in both individual and team-based contexts. OBJECTIVE Guided by transaction utility theory and price fairness, this study aims to investigate the influence of pricing strategy on service demands from the price difference perspective by focusing on two typical service models: individual service and team-based service. Moreover, team characteristics (response speed and team size) are also considered. METHODS The data collection was conducted in March 2018 and repeated in May 2018, and physicians who provide both individual service and team-based service are included in our study. Finally, a dataset consisting of 1,100 teams with 1,100 physician leaders from 14 departments such as obstetrics and gynaecology department were collected from an online medical platform in China were included. RESULTS Empirical results support most of our hypotheses. A negative influence of team-based price has been got (β = -0.282, p < 0.000). As a substitute service, higher individual service price will make patients turn to the team-based service (β = 0.164, p < 0.000). Moreover, individual service price negatively moderates the relationship between team-based service price and demands (β = -0.036, p < 0.05). By calculating the price difference between individual service price and team-based service price, we find a negative role of the price difference in affecting patient purchase decisions (β = -0.085, p < 0.05). Although we did not find a significant effect of team size, a quick response can attract more patients (β = 0.174, p = 0.05). CONCLUSIONS Price fairness provides a proper framework for understanding pricing strategy in individual and team-based service in an online environment. Understanding the effects of prices from a price difference perspective has both theoretical and practical contributions. Specifically, this study contributes to knowledge on price fairness, online medical platforms, and virtual teams, and provides management suggestions.

Zimmer Natural Nail and ELOS nails in pertrochanteric fractures

Background Pertrochanteric fractures of the femur in the elderly are very common. As the average age of the population increases, the incidence of such fractures also raises, resulting in high healthcare costs. The type of surgical devices employed for their surgical management influences these costs. Methods A comparative clinical study was conducted on patients operated by one single surgeon between December 2018 and November 2020 in a high-volume regional referral centre. All patients who received a Zimmer Natural Nail (ZNN) or ELOS devices were included. Results In 119 (66.48%) of the 179 fractures, a ZNN nail was used. Post-operatively, the TAD (tip-to-apex distance) was measured at an average value of 17.05 (4.42–41.85) mm and the CalTAD (calcar-referenced TAD) at an average of 20.76 (10.82–43.63) mm. The mean hospitalization time was 10.19 (4–22) days. In the other 60 trochanteric fractures, an ELOS nail was used. Post-operative imaging indicated a TAD of 19.65 (5.08–31.4) mm and a CalTAD of 22.86 mm (12.66–33.77). The average time of the operation was 45.82 (20–110) min. The average period of hospitalization was 10.45 (5–24) days. Conclusion Both devices give similar results in terms of short-term post-operative outcome and hospitalization. The price difference between the devices does not translate in different short-term results on the operated patients.

Shari’ah Issues in Short Selling: Critical Analysis and The Alternatives

This study aims to investigate the Shari’ah issues related to short selling and a discussion on its alternatives. Short selling refers to selling the stocks that the seller does not own, expecting a price decline, and then the seller will be able to repurchase it and profit from the price difference. The study critically discusses three Shari’ah issues related to short selling: the issue of selling something without having possessed, the issue of getting any benefit out of a loan, followed by the issue of gambling and speculation in short selling. This is a library research study, which critically analyses the issues with the help of secondary data comprising the related academic materials in both English and Arabic languages. The study finds that with the presence of few Shari’ah issues, the practice of short selling does not comply with Shari’ah injunctions. Furthermore, in the context of Malaysia, though the inclusion of Securities Borrowing and Lending (SBL) principles in Regulated Short Selling (RSS) reduce uncertainty (gharar), it does not make the practice of short selling fully complied with Shari’ah principles. Finally, the study discusses the incorporation of wa’d (promise) and salam (forward delivery sale) in the practice of short selling.

Availability, pricing and affordability of essential medicines in Eastern Ethiopia: a comprehensive analysis using WHO/HAI methodology

Background Access to essential medicines is a universal human right and availability and affordability are the preconditions for it. In line with the sustainable development goals, World Health Organization (WHO) has outlined a framework that assists the policy makers to improve access to essential medicines for universal health coverage by 2030. However, the availability and affordability of essential medicines remains suboptimal in several low-income countries. Therefore, this study was designed to investigate the availability, pricing and affordability of essential medicines in eastern Ethiopia. Methods A cross-sectional study design was employed to conduct this study. Public and private health facilities found in Eastern Ethiopia and which fulfilled criteria set forth by WHO/Health Action International (HAI) guideline and essential medicines listed on WHO/HAI guideline and essential medicine list of Ethiopia were included. Accordingly, 60 medicine outlets were selected based on the WHO/HAI standardized sampling methodology. A standardized data collection tools developed by WHO/HAI, with necessary modifications, was employed to collect the data. Median Price Ratio (MPR) was computed as a ratio of median local buyers’ price to international buyers’ reference price. The Mann–Whitney U test was employed to compare the median buyers’ price between public and private health facilities. Kruskal–Wallis test was also run to explore the median price difference among all facilities. Treatment affordability was calculated based on the number of days of wage of the lowest-paid government employee of Ethiopia required to purchase the prescribed regimen. Results The overall percent availability of originator brand (OB) versions of essential medicines was found to be 3.6% (range: 0.0–31.7%), with the public and private sectors contributing 1.43% and 5.50%, respectively. The overall percent availability of lowest price generics (LPGs) was 46.97% (range: 1.7–93.3%) (Public: 42.5%; private: 50.8%). Only eight LPGs (16.0%) met the WHO target of 80%. The Mann–Whitney U test indicated that 64% drugs showed statistically significant median price difference between public and private settings (p < 0.05). The MPR value indicated that the median buyers’ price of drugs in private sector were more than four times the international reference price in 30% of drugs. The percentage of unaffordable medicine were 72.09 and 91.84% for public and private facilities, respectively, with 79.17% of the medicines were unaffordable when both settings were combined. Conclusion Only 16% of the surveyed medicines surpassed the WHO cut-off point of 80%. Nearly one-third of drugs in the private sector had a price of more than four times compared to the international reference prices. Moreover, four out of five drugs were found unaffordable when both settings were combined, demanded several days of wage of lowest paid government employee. This finding calls a prompt action from stakeholders to devise a strategy that help promote the access of essential medicines and rescue the struggling healthcare system of Ethiopia.

The Determinants of the Nondefaultable Spreads of Corporate Bonds: Evidence from China

This study investigates the factors impacting the price difference between the interbank market and the exchange market for the same bond using a large transaction dataset from July 2006 to June 2016 in China. We find that market liquidity and macrofactors mainly affect the price difference between the two markets for the same bond. And individual bond liquidity explains only a small part of the price difference. We also find that the interaction between liquidity and credit risk is an important factor affecting the price difference, and the effect is greater during financial crisis.

Drivers of Purchase Decisions for Cannabis Products Among Consumers in a Legalized Market: A Qualitative Study

Background: Cannabis was legalized in Canada for non-medical use in 2018. The goal of legalization was to improve health and safety by creating access to regulated products, with accurate product labels and warnings and no risk of contamination. However, more than two years post-legalization, a large proportion of purchases are still suspected to be through unlicensed retailers. This study sought to identify the factors that influenced the purchase decisions of cannabis consumers in Newfoundland and Labrador (NL). Methods: Semi-structured focus groups and interviews were conducted in NL with individuals who were >19 and had purchased cannabis within the last 12 months. All sessions were conducted virtually, audio-recorded, and transcribed. A thematic analysis was conducted, and two members of the research team coded the data using NVivo. A combination of deductive and inductive coding was carried out, themes from the literature were identified, and new themes from the transcripts were discovered. A final coding template of the data was agreed upon by the team through discussion and consensus. Results: A total of 23 individuals (30% female) participated, with 83% coming from urban areas. While all cannabis product types were discussed, the conversation naturally focused on dried leaf products. Participants discussed a variety of considerations when making purchase decisions categorized around five broad themes: 1) price, 2) quality, 3) packaging and warnings, 4) the source of the cannabis, and 5) social influences. The price difference between licensed and un-licensed sources was commonly discussed as a factor that influenced purchase decisions. Product quality characteristics (e.g. size, color, moisture content) and social influences were also considered in purchase decisions. Participants were generally indifferent to packaging and warning labels but expressed concern about the excessive packaging required for regulated products. Conclusion: This study explores the many attributes that influence purchase decisions for dried leaf cannabis. Understanding the drivers of purchase decisions can help inform policy reforms to make regulated cannabis products more appealing to consumers. Further research is needed to measure the effect of each attribute on cannabis purchase decisions.

An Analysis of The Impact of Short-Term Vacation Rentals on the Hotel Industry

Much scholarly attention has been paid to Airbnb’s influence on the hotel industry. However, extant studies have limitations because they consider only Airbnb while overlooking various other short-term vacation rental players that can also affect performance of hotels. To address this research gap, this study aims to provide a broader understanding of the impacts of short-term vacation rentals by analyzing data obtained from various vacation rental platforms. This study shows that while increase in short-term vacation rentals has an overall negative effect on hotel performance, the economic effect is more significant in the low-end market than in the high-end market. Our findings further reveal that the negative effect is reduced when there is a large price difference between short-term vacation rentals and hotels. By comprehensively examining multiple sources of data on hotels and vacation rentals, this study brings alternative perspectives to the attention of researchers for further investigation of vacation rentals.

Does Pet Policy in a Condominium Building Impact Property Values?

Pets are permitted in some condominium buildings and not in others. Pet owners will therefore be attracted more towards buildings that welcome pets than otherwise. However, the pet-related regulations may altogether restrict all sorts of pets, including small pets, such as cats, while others may include restrictions on the number of pets allowed per unit, certain breeds or set restrictions on the permissible size of a pet. These restrictions may impact the price of condominiums. Using a hedonic price model, this research paper analyses whether and by how much allowance for pets in the building impacts property values in downtown Toronto using condominium sales data from January 2016 to December 2017 and information derived from a pet policy questionnaire. The findings suggest that the price differences are not statistically significant between buildings that allow pets or otherwise. In fact, the real price difference is observed for the degree of pet friendliness. Condominium buildings that allow two or more pets sell for higher prices than those that allow less than two pets. Furthermore, condominium buildings that allow two or more dogs sell for a higher price. Also, condominium buildings that impose weight, size or breed restrictions cost 5.7 percent more than those do not have those restrictions. Keywords: hedonic price model, pet policy, condominiums, GIS, Toronto

Does Pet Policy in a Condominium Building Impact Property Values?

Pets are permitted in some condominium buildings and not in others. Pet owners will therefore be attracted more towards buildings that welcome pets than otherwise. However, the pet-related regulations may altogether restrict all sorts of pets, including small pets, such as cats, while others may include restrictions on the number of pets allowed per unit, certain breeds or set restrictions on the permissible size of a pet. These restrictions may impact the price of condominiums. Using a hedonic price model, this research paper analyses whether and by how much allowance for pets in the building impacts property values in downtown Toronto using condominium sales data from January 2016 to December 2017 and information derived from a pet policy questionnaire. The findings suggest that the price differences are not statistically significant between buildings that allow pets or otherwise. In fact, the real price difference is observed for the degree of pet friendliness. Condominium buildings that allow two or more pets sell for higher prices than those that allow less than two pets. Furthermore, condominium buildings that allow two or more dogs sell for a higher price. Also, condominium buildings that impose weight, size or breed restrictions cost 5.7 percent more than those do not have those restrictions. Keywords: hedonic price model, pet policy, condominiums, GIS, Toronto

A Study on Biopesticides Market in Telangana

Biopesticides are a crucial component of integrated pest management programs for pest control. In India, so far only 12 types of biopesticides have been registered under the Insecticide Act, 1968. The present study entitled 'A study on biopesticides market in Telangana’ was intended to examine the marketing mix and BCG Matrix for selected biopesticide companies, awareness towards biopesticides. The results revealed that K N Bioscience company, Pratibha Biotech company and Varsha Bioscience company biopesticide products are useful for all crops and these companies products are mostly available in Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra and Gujarat region. The prices of chemical pesticides in all categories are more than the price of biopesticides whereas the price difference ranges between Rs 230 to Rs 680. The BCG analysis shows that Verchi power and Paci-N power products of K N Bioscience company fall in the stars quadrant, Biostrom and Shock products of Varsha Bioscience company fall under the question marks quadrant, CID, Pro-kill and De-bug are the products of Pratibha Biotech company fall in cash cow quadrant. VBT and Toxin products of Varsha Bioscience company fall under the dog's quadrant.