What is the difference between a quantitative method vs a qualitative method risk assessment? Which method is better for risk assessment? Explain. Can you elaborate further on the case-based designs used to analyze the disease patterns in the population? How does that tie in with the financial stability in specific? Is it tied to the capitated model for payment?

1. Qualitative risk analysis tends to be more subjective. It focuses on identifying risks to measure both the likelihood of a specific risk event occurring during the project life cycle and the impact it will have on the overall schedule should it hit. The goal being to determine severity. Results are then recorded in a risk assessment matrix (or any other form of intuitive graphical report) in order to communicate outstanding hazards to stakeholders. Quantitative risk analysis, on the other hand, is objective. It uses verifiable data to analyse the effects of risk in terms of cost overruns, scope creep, resource consumption, and schedule delays. Ultimately, the purpose is the same; the difference is that it takes a more scientific, data-intensive approach.

2. Based on that description alone, it might sound like the quantitative approach is the more reliable of the two. But that isn't the case. By ranking severity in broader terms, qualitative risk analysis is perfect for gauging probability and prioritizing risk in a way that's easy for even the most numerophobic person to understand. It also makes it easier to identify areas that require special attention — a risk event that has a high probability of rearing its ugly head or a catastrophic impact attached to it, for example. And can be employed at any stage of the project to manage risk in real-time. That being said, a combined approach is unquestionably stronger. In essence, they're two parts of a single whole that enable you to comprehensively determine 'risk level' of individual activities within the project schedule.

3. In a case-control study, you cannot measure incidence, because you start with diseased people and non-diseased people, so you cannot calculate relative risk. Case-control studies are particularly useful when the outcome is rare is uncommon in both exposed and non-exposed people. Cross-sectional studies are a relatively quick way of getting an estimate of disease incidence or prevalence in a community. Cross-sectional studies look at the disease status of all or a sample of a population at a particular moment in time. In general each individual would be contacted only once.

4. Financial stability therefore ensures you don't fall victim to money related stress and mental disorders. Money affords you healthy food and if necessary, medical care. Even financially strong people experience stress, but for different reasons. And this stress doesn't necessarily cause mental illness.

5. Capitation, case-based, and global budget provider payment mechanisms have the potential to control healthcare costs by creating incentives for providers to reduce the volume of services. Capitation payment has the potential to promote provider efficiency, while global budget may reward inefficient hospitals if risk adjustors (such as gender and age) are not considered in the resource allocation formula. Both capitation payment and global budget have lower administrative costs compared to fee-for-service. Development of supporting measures is crucial including legal, financial, referral, quality assurance, and management information systems.

Step-by-step explanation

Wood, R. (2021). What's the Difference Between Qualitative and Quantitative Risk Analysis? Retrieved February 28, 2021, from Safran.com website: https://www.safran.com/blog/whats-the-difference-between-qualitative-and-quantitative-risk-analysis#:~:text=Qualitative%20risk%20analysis%20tends%20to,goal%20being%20to%20determine%20severity.

‌Alshreef, A. (2019). Provider Payment Mechanisms: Effective Policy Tools for Achieving Universal and Sustainable Healthcare Coverage. Universal Health Coverage [Working Title]. https://doi.org/10.5772/intechopen.86840