Research: Cost Reduction or Cost Containment in Health Care Essay

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Introduction Healthcare is under scrutiny to find cost reductions or cost containment. Available healthcare dollars are diminishing with an increased aging population and costs continually on the rise there is a need for healthcare institutions to become more accountable in how the dollars are spent. Canadian healthcare is 11.2% of gross domestic product in 2013 (Information, 2013)Pressure exists to maintain current service levels with decreasing budget dollars year after year. Healthcare institutions (administration and sometimes physicians) spend a substantial amount of time and energy yearly cutting dollars from existing budgets in order to provide a balanced budget. Savings come in the form of salaries (jobs), supply savings, and…show more content…
Additional articles discuss how knowledge sharing of cost information with respect to diagnostic tests (Ramoska MD, 1998) (Portale MD, Harper, & Fields MD, 2013) (Taheri MD, Butz PhD, Griffes MHA, Morlock MBA, & Greenfield MD, 2000) (Sehgal MD & Gorman MD, 2011) (Varkey, Murad, Braun, Grall, & Saoji, 2010) and drug cost (Polinski, et al., 2008) reduced spending. Increased knowledge of implant costs encourages surgeons to formulate additional considerations for selecting implants based on cost and outcomes (Streit MD, Youssef MD, Coales MD, Carpenter MD, & Marcus MD, 2013) (Okike, et al., 2014)“One of the biggest challenges to healthcare, now and in the future, will be monitoring and controlling costs” (Mitchell & Cherf MD, 2014). Research Question In an Ambulatory setting, surgical procedures absorb a large part of the operating budget, in particular Orthopedics. When orthopaedic surgeons and nurses are made aware of surgical costs, will this create an opportunity for knowledge sharing and engagement in cost savings? Sharing the results of the research with orthopedic
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