... with loss of time and/or effort. (Burnham, Frels, & Mahajan, 2003) Several types of switching costs fit into this category such as evaluation, installation, and translational costs. (Burnham et al., 2003; MorningStar Inc., 2005) Translational costs are the efforts required in adapting to a new product, or more often, a newer system. Burnham does not identify this cost while Klemperer categorizes ... the future. (General Accounting Office, 1980) Obviously, such a strategy is difficult to employ with success. Another more tangible form of switching cost is the financial cost. (Burnham et a...

• Word Count: 1077
• Approx Pages: 4
• Has Bibliography
• Grade Level: Undergraduate

... based on reimbursement claim frequency. This was done by looking at 10 tests per 10,000 Medicare enrollees and only those test that were affected by at least 50% (Asplach, et. Al, 2014). After analysis several tests available for ordering by providers were found to have substantial decreases in reimbursements. Throughout clinical laboratories the most common tests following this trend were drugs ... such as, digoxin, carbamazepine, phenytoin, lithium, and valproic acid (Asplach, et. Al, 2014). These are noteworthy tests to consider removing from test panels due to the fact that they hav...

• Word Count: 1096
• Approx Pages: 4
• Has Bibliography
• Grade Level: Undergraduate