US health care expenditures have been rising quickly over the past few years; it has risen more than the national financial system. Nonetheless a number of citizens in the US still lack appropriate health care. If the truth be told, health care expenditures are going to continue to increase; in addition numerous individuals will possibly have to make difficult choices pertaining to their health care. Our health system has grave problems that require reform, through reforming, there is optimism that there will be an increase in affordable health care and high-quality of care for America.
Medicaid, Medicare and private sector insurances are all going through trials and tribulations because of spending. Obama Cares purpose is to put consumers back in charge of their health care and aid in driving down the cost of spending in health care. The reform will also strive to put forward a delivery system that operates better for all involved thereby decreasing organizational burdens and assisting in the collaboration towards improved care. If the reform is successful, it will lead to measureable improvements in care outcomes, and in the health of the American general public overall. Non-profit/Profit
While non-profit organizations dominate the delivery of health services, there are more than a few for-profit organizations that remain affected by health care spending as well. By having Obama Care in place, non-profit and profit organizations can possibly see an increase by way of earnings and consumers. The CEO of See Change Health; Martin Watson, made a statement that said “without health reform, we figured we would get to the $800 million mark (in earnings) by 2016.
With health reform, it looks like we’ll hit $1.5 billion by 2016.” (Kennedy, K. 2012). Although undeniable, numerous for-profit organizations may gain as a result of the reform, non-profit organizations may perhaps thrive also. In 2014, guarantors cannot profit by means of rejecting coverage any longer, consequently they will be more motivated to keep people healthy. (Kennedy, K, 2012). Due to the continuous changes by health care reform to the current system, everyone could benefit from sustaining spending. Financial Management Staff
The Financial management staff is accountable for acquiring and effectually making use of the resources required for operating efficiently. The first step the staff should take is to assess and develop economic proficiency of the present setup in addition to preparation for the outlook of future operations. Financial management staffs must plan, obtain and use funds to yield the complete benefits of the efficiency and assessment of its project. The next focus should be on long-term investments decisions, like new accommodations and machinery, and also how to obtain funds needed to purchase the necessities essential to sustain operation.
Contract management is another responsibility. “Health services establishments have to negotiate, monitor, and sign contracts with managed care organizations and third-party payers.” (Halvorson, G.C. 2005). Since costs is excessive, there is hopefulness that the reform act can aid the pecuniary staffs to maintain or lessen their expenditures thru generating rudimentary regulations and standards. Rules and Regulations
There are numerous rules and regulations the financial management staff must address pertaining to national health care spending. Their aim should be improved care, ensuring more healthy individuals and societies, all the while making sure affordable care is available for individuals, while lowering or sustaining health care spending. “Making quality care more affordable for individuals, families, employers and governments by developing and spreading new health care delivery models is key.” (National Strategy, 2011). Financial management must come up with proposals that will nurture new ideas, devices or processes to promote and lessen costs; The Affordable Care Act has provisions that will help financial management deal with simplification.
By having extra electronic processing and less form-filling, it will eliminate the need to spend money on check printing, phone calls, and postage charges. Simplification and synchronization is needed for administrative. National health care spending is a heated issue; however there is a single entity that all agree upon and that is there needs to be cut backs or the maintaining of current expenses. The current reform will help decrease the percentage of Americans who are without coverage. An vigilant observation on healthcare spending is needed, at the rate its going now thing don’t look too good financially for anyone when it comes to healthcare.
Department of Health & Human Services. (2011). National Strategy for Quality Improvement in Healthcare. Washington, DC: U.S. Government Printing Office. Halvorson, G. C. (2005). Healthcare Tipping Points. Healthcare Financial Management (March): 74-80. Kennedy, K. (2012). Healthcare Law’s Impact on Businesses Varies. Retrieved from: http://usatoday.30.usatoday.com Woolhandler, S., & Himmelstein, D. (2011). Healthcare Reform 2.0 Social Research, 78 (3), 719-730