Strategic Financial Planning

Creating a health care reform plan for the U.S. health care system is no easy task. Multiple things must be taken into consideration. These include making insurance affordable, making sure the plan is economically feasible, and creating a plan that will still work in the future. What hindered the reshaping of health care into a sustainable system in the past, are the health sectors interests that prefer the status quo. By continuing to cling on to yesterday’s model, the health care industry is creating its own peril (Schaeffer, 2007).

“Massachusetts, however, is facing challenges as it moves forward with health reform. In particular, two trends that began prior to health reform continue to put pressure on the health care system in the state: gaps in provider supply, particularly for primary care, and escalating

The increase of expenses - As politicians continue their dissension amongst each other, the situation is worsening in our healthcare system. According to the World Health Organization, to achieve universal health coverage, countries need a financial system that enables people access to all types of health services without incurring financial hardship (Carrin, Mathauer, Xu, & Evans, 2011). This idea would be the foundation of innovative ideas that the U.S. could reform its healthcare system, but too many ideas are sabotaging any valid efforts. In the mean time, the U.S. healthcare system continues to deal with issues such as the increasing uninsured Americans (over 49 million), expensive administrative procedures and the inability to measure the accuracy of quality of care, access of care, and the increasing healthcare spending and financing that limit our ability to efficient utilize resources.

One of this health care’s programs objective is to limit the number of uninsured (Shi & Singh, 2015). This controversial healthcare plan incorporates a privately funded insurance which is paid for through employment and solely by the patient and a publicly funded insurance by the government. Medicare is provided for senior citizens 65 and older, and Medicaid is provided for low income citizens. The federal government and state government both partake in the funding of Medicaid. Although insurance is provided to the low income through Medicaid, the United States continues to suffer from cost escalation spending 17.1 percent of GDP on healthcare in 2013, a 50 percent more than the second nation (Commonwealth, n.d.) The high cost and limited coverage continues to spark up the conversation for a

The years 1996 to 1997 brought about another wave of health care reform for Massachusetts. The expansions in 1996 and 1997 resulted in an increase in the number of people enrolled in MassHealth (Massachusetts Medicaid program). As well, one of the key elements of Massachusetts’s safety net is

This paper focuses on analyzing the Massachusetts health care system. Specifically it addresses how the 2006 health care reform law sought to increase health insurance coverage for the uninsured, underinsured, children, young adults, and low income residents. Its desire was for universal coverage for all its residents, and that it would be both reasonably priced and of value. The Law addressed need to decrease the barriers to health care, such as racial disparities, and overall health care costs while increasing access to provider, utilization of services, with a focus on quality care. This paper will exam how the Massachusetts health reform addressed these health care issues.

The U.S. health care system consumes a huge amount of the U.S. Gross Domestic Product, and is a massive system that provides essential and world-class care to millions of people (Niles, 2016). As a result of this huge burden of cost associated with it, the U.S. healthcare system has been critiqued, and has played a major role in sparking debates about changes to the way the U.S. healthcare system is run and organized. Thus, healthcare has been on the forefront of many American and politician minds over the last decade and beyond, and many proposals and attempts have been made to change and adapt the complex and influential U.S. healthcare system. One such attempt, that brought about incredibly influential change to the U.S. healthcare

Looking back at our former healthcare system, we see that it was far from flawless, some say it is due to the government, while others claim the health insurance and the healthcare system in general is to blame. So it 's no wonder that the healthcare system is constantly fluctuating. These fluctuations have let us to a system that was very flawed and in dire need of rectification. Furthermore, the health insurance market wasn’t readily accessible to the middle and lower class, due to high costs, bizarre prerequisites, and complicated terminology.

Four years ago, Massachusetts’ Medicaid program (called MassHealth) faced a crisis. The eEligibility rules of the Affordable Care Act required the state to change eligibility systems and the initial effort to build “the Cadillac” of eligibility systems ended in a costly spectacular failure, and an FBI investigation as a result of a Pioneer Institute report drawn from inside whistleblower accounts.

The Massachusetts model is considered by many to be the blueprint for the national health care reform. It was introduced in the year 2006 and was fully implemented by 2010. The state previously had a “free care” pool through which it funded the health care given to people who were uninsured and ineligible for Medicare, Medicaid and private health insurance. The then federal government insisted that either the state reduced this funding or it lost $385 million in Medicare funds (Lizza, 2011, June 6). The uninsured population in the state at that time was 10.9%, which was much less than the national average of 15.8% (Day & Nardin, 2011) making the state relatively more suitable for any health

The federal statute known as the Affordable Care Act, has been touted as a positive development towards healthcare in the United States. However, there are many downsides to the passing of this act. One of the most glaring disadvantages to this act is the cost associated with it. Also, implementation of it is widely contingent upon the successes of the plan in the various states and communities. In other words, it will be an experiment. Even among proponents of this legislation, there is great uncertainty over its potential impacts as well as its ability to control cost growth (Gruber, 2011). If our healthcare reform experience in Massachusetts is to be looked at as a prototype, according to the advocacy organization, “Physicians for a

The future of America’s health care system looks bright with new innovations coming about. Advancements in technology, patient care, and access to care are all important factors to create a health care system suitable for American citizens. New health care reforms help shape our health care system to provide better care to all citizens. To implement these new reforms, the plan must be financially viable and be understood by those it effects. To improve the current health care system, new reforms should include ways to insure more citizens in a cost effective manner, offer insurance at an affordable rate, improve efficiency of the health care system, and provide higher transparency to the public.

First of all, both scenarios represent emotionally charged situations that impact many stakeholders both internally (employees, patients, providers and board members) and externally (payers, community, government entities, community leaders). There is no doubt that the knowledge I have gained over the course of this program allowed me to have a broader understanding of the implications for each of these stakeholders. Furthermore, not only having knowledge of the perspectives of these various stakeholders but also the tools to critically assess the situation and formulate a plan is also a byproduct of my studies. Additionally, this work highlights the complex and fragmented nature of the US health system and the challenges in working on a solution to almost any problem tackled by healthcare leaders today. Thankfully, the program has given me the confidence to undertake these

Healthcare News The biggest challenge in the US healthcare system isn’t technical, but existential. Americans have a sense of entitlement about many things, and healthcare tops the list. Most rich countries decided decades ago that it makes sense to provide a basic level of care for all citizens, rather than offering everyone the “option” of the most cutting-edge medical treatments, whatever the cost. https://www.ft.com/content/9eaa44ca-082e-11e8-9650-9c0ad2d7c5b5 6. Quote of the

Financial Planning Financial planning is an appraisal of those financial aspects that may or are likely too occur in future but need immediate decision making. It involves setting financial objectives in terms of profits, sales or acquistion of assets along with financial foorecasting for the organisation. This includes estimation in the areas of: Ø