Healthcare Risks and Cost Control
Healthcare Risks and Cost Control essay assignment
Healthcare Risks and Cost Control essay assignment
Q2: To address the rising costs of health care, we must improve the way that health care is delivered, including the coordination and safety of care. The Affordable Care Act includes tools to improve the quality of health care that can also lower costs for taxpayers and patients. How can a leader in healthcare leverage healthcare reform to lower costs?
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Healthcare Reforms, Costs, Ethical and Legal Principles
Medical care is significant; however, it is costly. Increased medical spending, driven by rising medical costs, is straining both private and private resources that may otherwise be used for other purposes (Altman & Mechanic, 2022). A healthcare organization’s budget must be balanced with the organization’s highest priority: the health of its patients. Carefully and intelligently, reducing healthcare spending.
Another way of improving healthcare cost control is through standardization. Hospitals can save money and improve patient satisfaction by relying on a single service provider. Controlling healthcare costs necessitates the active participation of the general public (Compass One Healthcare, 2022). Ineffective and effective care is reduced equally by high-cost sharing, resulting in a decrease in the number of people using health care services. Strategic cost control is a way of improving healthcare cost control; its possibilities in healthcare can be found by looking at how patients move through a facility. Patients who drive around in a hospital consistently can save money and improve the level of care they receive. Perhaps more troubling is how disparately high healthcare costs affect various nations’ regions and the healthcare sector.
The healthcare industry is governed by a slew of regulations, guidelines, laws, and ethical codes. The purpose of the law when it comes to healthcare decisions is to protect the individual’s rights. As a result, they outline the duties of healthcare workers. It is all too usual to see tabloid headlines about ethical infractions in administration, industry, and the financial business world. More importantly, such violations are often the source of personal and professional anguish and even catastrophe. The healthcare industry has a significant impact on people’s lives, the livelihood of their families, and our reputations; therefore, upholding high ethical standards is critical. The fate of the American economy and society rests heavily on the reform of the healthcare system.
The tort reform and the legal principle of limiting medical malpractice have a significant impact on cutting healthcare costs (Dam, 2022). Because of a legal premise involving false claims, the government can be defrauded by healthcare providers who can control expenses. Some cost containment recommendations would include sharing healthcare costs within the hospital (Ashley, 2022). In this way, improved clinical outcomes can be achieved. Concerning healthcare sector cost reforms, minimizing needless expenses within a healthcare facility is a good fit.
References
Altman, S., & Mechanic, R. (2022). Health Care Cost Control: Where Do We Go From Here? | Health Affairs Forefront. Healthaffairs.org. Retrieved 17 May 2022, from https://www.healthaffairs.org/do/10.1377/forefront.20180705.24704/.
Ashley, P. (2022). Three Cost Containment Strategies in Healthcare Benefits. First Person Advisors. Retrieved 17 May 2022, from https://firstpersonadvisors.com/three-cost-containment-strategies-in-healthcare-benefits/.
Compass One Healthcare. (2022). How to Improve Cost Management in Healthcare. Compassonehealthcare.com. Retrieved 17 May 2022, from https://www.compassonehealthcare.com/blog/how-improve-cost-management-healthcare/.
Dam, D. (2022). An overview of the legal and ethical issues in healthcare | StPatrick. StPatrick. Retrieved 17 May 2022, from https://www.st-patricks.ac.uk/blog/posts/2019/october/an-overview-of-the-legal-and-ethical-issues-in-healthcare/.
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