Analysis Of Novant Health Builds An. Porter's Five Forces Analysis

More and more people with medical insurance are relying on the health care system as new technologies and treatments become available. This leads to a grater number of claims for payment by insurance companies, the costs of which are passed back to health care consumers. The baby-boom generation is entering its peak health-care using period. Over eighty million Americans will turn 50 in the next 10 years. The cost of providing heath care for these individuals will be staggering

The cost of health insurance has changed drastically over the years as it has become more expensive. Depending on personal characteristic, the cost of health insurance may vary. For instance, as individuals grow older the more expensive it becomes. In this case, health insurance is more costly because “older individuals require more health care” therefore “the cost of providing health care is rising” (Madura &Atlantic, 2012). Not only does this affect the high cost of health insurance, but the number of individuals uninsured. As stated by Madura and Atlantic (2012), “about one in every five workers is uninsured” and has increased since then because health insurance has become unaffordable. As a result, individuals tend to seek health care elsewhere as they can no longer

Rising health insurance premiums have made healthcare unaffordable in the United States. Health insurance premiums in this country have undergone a steady rise over the past few years while incomes have remained the same. More than 50% of individuals with low incomes holding private insurance in the United States are unable to afford their healthcare costs (Collins, Gunja, Doty & Buetel, 2015). In addition, costs related to healthcare are equally unaffordable to 25% of working-age individuals who hold private health insurance policies (Collins et al., 2015). According to the Kaiser Family Foundation/Health Research and Educational Trust (Kaiser/HRET) survey on employer health benefits, employer-sponsored health insurance plans have also had moderate rises in premiums in 2013 for both individuals and family coverage (Claxton et al., 2013). While

What’s next? Some experts say that if the consumer-directed approach doesn’t succeed, em wash their hands of health care altogether. A recent study by the Employee Benefit Researc showed that the proportion of U.S. residents covered by employment-based health benefits d percent in 2000 to 60 percent in 2004. Decades from now, observers may conclude that a counter- revolution in employer coverage began in these early years of the 21st century. —Terence F. Shea

A series of events has recently occurred to cause the passage of PPACA. Economics are explicitly linked to health care. In the United States, health care coverage is provided primarily through an employer-based system. This system began in the depression era when pay was federally frozen. Companies, in an attempt to lure scarce workers, used benefits packages including health care as bait. Described as a “uniquely American” “private social security” health care system, the employer-sponsored system is the “cornerstone” of United States health care system (Blumenthal, 2006). This system has left many un- or under-insured. Blumenthal states (2006), “The United States’ dependence on employer-sponsored insurance means that the protection of its citizens against the costs of illness depends directly on the ability of private businesses to manage and absorb health care expenses that have defied all efforts to contain them.” Recently, economic downturn and the need to reduce expenses to better compete on the global market has caused many companies to both reduce their insurance benefits package and their work force causing many to lose their health care coverage. The employer-based system merged with the economic downturn, unaffordable health care costs for businesses, and

Through the history of health care, the standard of care changed from protecting our patient from injury and illness to a systemic entity to make money for insurance companies. Access to services and clinical outcomes are dependent on what health insurance providers will “pay” for in a clinical or community setting; as a result, patient safety, care and satisfaction has been negatively impacted.

The health care system is one of the largest industries in the nation. It employs nearly twelve and a half million people. Even though this many people are employed by health care systems, there is little to no competition between the many different systems. This results in the cost being whatever the system wants. People who are ill or

The current system of healthcare in the US evolved from a circumstantial set of laws passed during World War II. Because wages were limited by law, employers resorted to fringe benefits as a means for attracting top talent. Healthcare plans existed prior to the conflict, but due to the war, these plans became an ingrained national phenomenon (Blumberg and Davidson). Tying health insurance to employment proved problematic because the unemployed, or self-employed, often lacked coverage. Around the beginning of the 1970s, increases in healthcare costs began to diverge from the Consumer Price Index (CPI). This trend has only increased since then and has

The probable impact of the Cadillac tax is causing employers to reassess the health care plans they offer their employees and reconsider their role in providing health care benefits to their employees in the future. Currently, this excise tax is proving to be a catalyst for change. However, regional differences in the cost of healthcare and unrelenting medical inflation is going to make the ability for employers to continually reduce benefit costs in an attempt to avoid the tax extremely

American people look at their insurance bills, co-pays and drug costs, and can't understand why they continue to increase. The insured should consider all of these reasons before getting upset. In 2004, employee health care premiums increased over 11 percent, four times more than the rate of inflation.

Many employees must designate a health plan through their employer. These days, as HMOs (health maintenance organizations) and managed care plans continue to proliferate, that means a choice between bad and worse. As employees line up in the lunch-room for a process called open enrollment, they may be surprised to learn that managed care rates have gone up — again. The mirage that managed care is cheaper care is finally fading. And, for the first time in years, employees may also have the promise of free choice in medicine in the form of a new method of financing health care. Consumers are already aware of horror stories involving HMOs, but cheap rates persuaded many that managed care is less expensive. Recent

In order to control costs of providing health care benefits to workers nearly twenty major companies formed a nonprofit group called Health Transformation Alliance (HTA). This collaboration helps to share information of four million employees, particularly about health spending and final outcomes, analyzing the

Horizontal integration is the expanding of a company through increasing the service to create a stronger and more enhanced company that provides the same service. Vertical integration is when a company owned individual providers create or operates the distribution themselves. In order to provide the best healthcare service, healthcare facilities needs to offer a network of providers with a wide range of healthcare service. The term integration delivery system (IDC), “is a network of organizations that provides or arranges to provide a coordinated continuum of services to a defined population” (Shi& Singh, pg. 366). The goal for healthcare organization is to provide high quality and efficiency of care with cost reduction for healthcare aimed toward the patient population. This goal is not only a great benefit for an organization but for patient and also for healthcare services providers.

There is no denying the fact that the cost of health care in the United States has been on a constant rise than the wage of the employees that pay to have access to better healthcare. There is the general fear among these employees that if the rising cost of the health care is not brought under control, there will come a time, and some analyst think, the time is already here, when those employees will not be able to afford health care for themselves and their families. This fear of the unknown is particularly evident among those closer to retirement. Employers of labor have for quite sometimes now, been shifting the burden of the high cost of affordable health care to their employees, and that has significantly reduced employee standard of

America has a bleak outlook towards the costs associated with employee turnover, productivity decline, and increased employee healthcare costs due to chronic health care conditions. The cost of healthcare is increasing, and employers typically bear the brunt of these costs. Employers also face financial loss in regards to productivity decline and retention. In a Rand report, commissioned by the U.S. Government and compiled, by Matke and others, showed that the cumulative losses of all three domains associated with chronic