Cost Of Quality Care Essay

The change to value based purchasing has bought many challenges to the healthcare industry. With the change to value-based purchasing for payments, it has changed how healthcare organization receive payment and delivery care. The advantage of have value based purchasing is that it improves the quality of care while reducing cost in an effort of aligning patient’s with the right provider and treatment plan (Minemyer, Jun 29, 2016). However, there are many disadvantages, such as it increases the patient volume as counteracting the reduction of procedure volume (Brown, B. & Crapo, 2016). Also it makes providers more responsible for care that is beyond the expected treatment of care needed (Minemyer, Jun 29, 2016). With quality measures tied

Costs have escalated for a host of reasons. Americans’ health needs increased as their for example. Coverage grew to include catastrophic illnesses, not just common ailments. Ma added retiree health benefits. Medical techniques and technology became more sophisticate prescription drugs acquired an expanding role in disease management and illness preventio medical inflation had become a serious business issue; by some yardsticks, costs rose at a f decade than in the 1990s.

Impact to Healthcare organizations - These increases in cost raise questions of health care expenses at the hospital level. As higher profits are sought, the cost will become unstable for all, thus causing many to postpone going to the doctor. However, there are many complicated problems associated with our healthcare system. We will focus on main issues that can correct many related problems within the current structure. More importantly, we need to find ways to ensure all Americans have access to health care; and we need to hone in on how we can get the best value for the $2 trillion dollars we spend annually on healthcare.

Having access to quality healthcare is major part of one’s life however the cost of care has been on the rise over the past decades and continue to rise every day due to many situation such

As expense for-volume offers approach to charge for-worth, doctor 's facilities and social insurance frameworks are finding that their time-tried blocks and-mortar development methodologies will no more serve their long haul objectives. Today 's quality driven clinical and plans of action require a movement in center — from experience based solution to populace wellbeing administration. Systems to advance development — fundamental for quality based achievement — will depend on patient maintenance and new instruments for picking up piece of the pie.

One area that has contributed to the rise of healthcare costs are the varieties of healthcare services offered to the patient. Competition between providers has caused physicians and hospitals to offer the most current healthcare technologies and modern, eye-catching settings in order to attract and retain clients (Shi & Singh, 2015). Reimbursements for costly procedures and hospital services have been compensated at a higher rate which has also supported the expansion of hospital and specialty procedure settings (Schroeder & Frist, 2013). Renovations of the physical settings and the acquisition of expensive technologies have elevated healthcare services prices to encompass the additional costs of providing high technical services and attracting clients and cause the over-utilization of expensive treatments.

When it comes to health care, cost is one of the biggest problems. Something needs to be done in order to make it possible for patients, families, and businesses to be able to afford health care. US does not always spend health care dollars in the most productive way. The cost of cancer treatments alone can cost up to hundreds of thousands of dollars, and the only way to pay for that is to raise the cost of the insurance to the patients. Cost is defined as the “price” of healthcare. The “price” or cost can come from various places such as, the physician’s bill, the cost of prescriptions, as well as what the employers pay to cover their employees. The cost of treatments, emergency room visits, medicines, the cost of newest technology and etc. is what is making our increase in cost rapidly. The rising costs leads to becoming a financial burden to families, even the ones that have health insurance, which can typically result in individuals not receiving the health services that they need.

On the same level from a patient’s perspective, providers are even challenged with increased costs. Even though insurance is becoming more affordable the money, unfortunately has to be recovered utilizing other

There are three issues when it comes to the health care cost rising. The first is the rising cost in prescription drugs. The second area of rising cost is the increased technologies when it comes to the medical industry. The third problem

Another reason for the rising cost of healthcare is the cost of physician care, according to the American Hospital Association “the cost of physician care, both to insurance and patients, has risen 1.3% during the past year.” Because of this increase doctors are put in a corner, they are already locked into an agreement with the insurance companies and do not have much ‘wiggle’ room to negotiate fees and rates. So because of this the patients and consumers are forced to pay a much larger sum. Since there are higher costs and the insurers will not cover them, they are distributes to the customers through higher deductibles, co-insurance, and

Consequently, it become a financial problem where physician sees no improvement in their revenue/profit, and the cost of treatments continue to rise as reimbursement challenges the physician’s charges. There is always a cost to a better health care and coverage, and vast of it comes from taxation. Hospital and physicians function on funding to keep the door open and operating, and majority of the funding are from taxation. For

The reason why physicians should be paid by the quality of their work is because it has the best impact on healthcare and patients. This is due to all the evidence based practices showing quality improves patient care due to quality being about safety, effectiveness, efficiency, timelines, patient centeredness, and equity. Not only is quality all about that, but it is also about correcting any flaws or mistakes, rather than denying and ignoring them, in order to move forward and keep improving. Moreover, quality impacts the underserved patients along with patients of all natures. For instance, Centers for Medicare and Medicate Services (CMS) developed several programs, such as the Value Based Purchasing program. These programs are meant to measure data to improve the quality in patient care by taking preemptive measures to prevent readmissions, heart attacks, and pneumonia. Additionally, the programs lower costs not only for patients, but for

The global healthcare industry is experiencing a fundamental shift as it moves from volume-based to value-based business. With increasing demands from consumers for improved healthcare quality and increased value, healthcare providers are under pressure to produce improved outcomes. Primary care physician and nursing shortages, are requiring overworked professionals to do more and be more efficient. Further, the cost dynamics of healthcare are changing, driven by people living longer, the incidence of chronic illnesses and infectious diseases, and distrustful medicine practices. New approaches to healthcare delivery is increasing in complexity and competition. This complexity challenging the healthcare industry will require smarter, more informed decisions to enable the improved outcomes and better value required by the market dynamics, increasing government regulations, and today’s more informed and demanding consumers (Cortada, J. & Gordon, D.,

There are 10 key economic concepts of health care. Each of the economic concepts is important when evaluating the different issues related to health care such as the increasing cost of health care. Henderson (2015), list the 10 concepts as follows: scarcity and choice, opportunity cost, marginal analysis, self-interest, markets and pricing, supply and demand, competition, efficiency, market failure, and comparative, advantage. The concept scarcity and choice address the issues related to the limited supply resources and the need to economize (Henderson, 2015). An illustration of the importance of the scarcity and choice concept is when there is a low quantity of available resources to meet the demand of individuals and rationing occurs. Opportunity cost emphasizes

“Although outcomes research has identified many useful strategies for improving the quality and value of care, it must be kept in mind that such strategies are only as good as their translation into practice” (Merrill, 2017, p. 238).