Fraud and Abuse Laws Effective management of patient complaints and grievances is also imperative from a corporate compliance standpoint, not only because of CMS CoPs, and private accreditation standards, but also because individual patient concerns often bring to light larger systems issues, such as quality of care, Medicare billing, and research compliance.
Entrepreneurship Trends Comments The papers in this section consider trends in entrepreneurial activity, both in the United States and internationally.
Cross-County Evidence from New Data. Like the United States, many countries recently have experienced a fall in economic dynamism. In response to these circumstances, the authors suggest that the public policy environment must be favorably oriented toward experimentation and a high level of creative destruction, with both high entry and high exit rates; that there needs to be reduction in the costs of entry and post-entry growth, the cost of uncertainty, and the cost of exit; that competition must be encouraged and preserved; and that labor market mobility must be increased.
Across a variety of indicators and databases, he concludes, economic dynamism in the United States has been declining for many years, predating the Great Recession. Historically, he explains, startups and young firms have contributed to job creation and innovation, and high rates of firm entry and exit and worker movement between companies and jobs were the core driver of productivity.
The recent decline in dynamism, then, could have negative implications for growth and innovation. But Haltiwanger also explores potential causes for the decline and suggests that declining dynamism could reflect benign and even positive economic changes, such as more efficient labor market matching.
Globalization and the effects of the IT revolution could also be causes, as they may be shifting the relative structural advantages of the United States. The causes and impact of the declining trends in dynamism and fluidity, he concludes, is an open question that should be a high priority for future research.
He suggests that demographic change—namely, slower growth in population and labor supply—could explain most of the decline in the startup rate.
Like Haltiwanger, he calls for more work to understand other potential causes of the decline, especially for the small fraction of young, high-growth firms that contribute most of the net new jobs.Although portfolio management didn't change much during the 40 years after the seminal works of Markowitz and Sharpe, the development of risk budgeting techniques marked an important milestone in the deepening of the relationship between risk and asset management.
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