The Growth Of Revenue For All Healthcare Organisations Within The United States Essay

The paper will discuss the evolution of health care in America and how it has affected the health care system today. It will discuss the advancements made in technology and medical services that have evolved over two centuries. It will review how health care delivery has evolved and impacted today’s health system. The delivery of medical services has changed over many decades. The culture, social economics, and political views, have influenced society on how the medical services and advancements in medical technology have evolved. The three phases of health care structural change is preindustrial era, postindustrial era, corporate era (Shi & Singh, 2013).

In 1996, the Hospital found itself confronted by mounting challenges caused by falling revenues and increasing expenses. Cost per case for children's services increased by 42% over a three year period from 1993 to 1996. The Hospital was faced with having to consider drastic solutions, including eliminating programs and reducing services. Staff productivity along with patient and staff satisfaction had also fallen significantly. Duke responded to these challenges by implementing the balanced scorecard methodology, an analysis technique that helped them translate their mission of delivering quality clinical outcomes, along with their overall business strategy, into specific quantifiable goals that they could monitor to determine how well their organization was achieving those goals. The BSC methodology, which had grown so popular that the Gartner Group estimated that at least 40 percent of all Fortune 1000 companies were using it (TechTarget, 2012), helped Duke Children's hospital to strategically align their administrators and clinicians to

Universities stemmed some of the biggest medical advances in the health care industry amongst the world. The educational platform for the United States spells long term success for health care, by growing the next generation of top health care providers. In comparison Germany and Canada also are represented amongst the top 50 medical schools in the world, but lack any representation of the top 10 prestige rankings. On top of that, both other countries lack volume and opportunity to receive a valued medical education when compared to the United States.

One of the biggest impacts on the healthcare industry is the transition from a fee-for-service model to a value-based payment model. This transition is emphasizing the importance of utilizing data captured electronically in EHRs, HIEs, and other clinical and business systems to improve patient care. Payers are implementing payment incentives and penalties based on performance in defined quality and safety metrics through programs such as Blue Cross’ Pay for Performance (P4P) or CMS’ Value-Based Purchasing (VBP). These programs, along with other factors, are resulting in a growing that utilizes data analytics and business intelligence to provide healthcare leaders and physicians with insight into their quality and safety metric status.

Healthcare spending growth rate trends show astounding estimates. Since 1960, spending has risen from $27 billion ($143 per capita, 5.1% pf GDP) to amazing $1,678.9 billion ($5,670 per capita, 15.3% of GDP, 2003 data) (HHS, 2005). Recent research estimated that by 2013, healthcare spending will be as high as 18.4% of the Growth Domestic Product. It is important to note that the gradual move from hospital to ambulatory setting has resulted in much higher spending on outpatient hospital services and prescription drugs. The spending growth for these two trends is much higher than the overall healthcare cost growth, which, in fact, increases faster than such important economic indicators as GDP growth, inflation growth, and population growth rates.

This paper utilizes five established sources to examine and analyze the effects unstable and constantly changing healthcare costs have on the American economy. These sources all express different components of healthcare spending that play a major role in the economy. By utilizing Federal Health insurance programs such as Medicare and Medicaid, these sources provide an inside look on ways in which these programs affect the economy. Cheeseman (2008) expands on how healthcare costs affect businesses and Johnson of The Associated Press describes how it affects the economy as a whole applying numerous factors such as components that make up the healthcare spending, how they hinder the progression of other aspects of economy by limiting government spending to healthcare, and their immediate effect on workers and businesses. Though healthcare is beneficial to some, Light (2016) reveals the darker effects it carries on the economy. Cohn (2014) provides a catalog of problems economists face when the facts concerning health care costs are concerned and outlines a series of statistics that display yearly growth rates in healthcare costs, and actual and projected growth in healthcare spending. Auerbach and Kellerman (2011) present findings on how increasing healthcare costs impacts the American family when available income and buying power is concerned while providing data and statistics to complement discoveries and build a solid case on how the bad outweighs the good. This

No, our healthcare system is not as effective as other countries. Even though the United States is the richest and most powerful country in the world, the healthcare system ranks 37th in the world in terms of quality and fairness. The United States is also the most expensive medical system in the world. However, forty-seven million people are without coverage and hundreds of thousands of people are in medical bankruptcy. You are required to make an appointment before going to the doctor, waiting times to get an appointment are high, and doctor visits are long.

The health care industry has been changing dramatically in the United States over the past two decades. Especially in the wake of the Affordable Care Act that was signed into law on March 23, 2010. With the rising costs of health care, prescriptions, increased number of retirees and longer life expectancy, Americans have become increasingly concerned with how they will pay for their health care (“The Shame of American Health Care, 2013, p. 1). Hospital administrators and leaders apply data analytics to better understand and optimize their hospital operations in a number of ways such as their supplies, staffing and daily processes (Stiefel & Greenfield, 2014, p. 64).

In this segment our paper we chose the year 2014 due to the amount of reliable information currently available for both countries. For comparison purposes we will begin with presenting a variety of demographic statistics about the United States. In 2014 the United States had a population of approximately 318 million people and an estimated GDP of $17.3 trillion dollars. That very same year, health expenditure in the United States totaled an astonishing $9,024 per capita, which was approximately 16.6% of GDP. This was the highest amongst OECD countries with Switzerland having the second highest heath expenditure of $6,787 per capita (OECD, 2016). One could easily assume that increased health expenditure would equate to longer life expectancy. However, in 2014 life expectancy in the United States was 78.8 years as opposed to 83.3 years in Switzerland (OECD, 2016). As we look further into the total health spending of the United States for 2014, publicly funded health insurance accounted for 49.3% of health spending. Privately funded health insurance (provided through employers) 39.2% of health spending and out-of-pocket spending accounted for the remaining 0.2% of health spending (OECD, 2016).

healthcare organization. We will use business intelligence (BI) system to track and chart the data

With these types of organizations they have different methods of payments and reimbursements. They have guidelines through the government that they will have to abide by. The government sponsored payers are Medicaid and Medicare. The majority of patients that are treated are on Medicare or Medicaid. With patients not insured each type of organization handles reimbursement differently. For- Profit hospitals it is bad debt, which is when charges of patient are written off. With not –for –profit organizations it is considered charity care. This type of care has to be documented and reported on tax status.

The Balanced Scorecard Institute reports that in the 1950’s General Electric was the first to use the Balanced Scorecard approach, but it was not until the 1990’s when Dr. Robert Kaplan a Harvard Business School professor and Dr. David Norton officially titled it the Balanced Scorecard. Once used as only a measurement tool for organizations, it is now a complete strategic planning and management system (Balanced Scorecard Institute, n.d.). Originally, businesses looked at the financial reports to distinguish whether it was a quality company or not. Kaplan and Norton however believed the financial reports only showed past history and an organization must also track how it is performing currently and look at ways to constantly improve future performance. Kaplan and Norton established there are four business segments or perspectives to measure and make improvements on. The four segments

This paper highlights viability of having a new product offering by Medstreaming Company namely a Business Intelligence Balanced Scorecard specifically designed for the healthcare sector. Focus of the study is on identifying the appropriate measurement metrics for the balanced scorecard. The project has added knowledge to the critical issues which need to be addressed by the healthcare organizations in implementing the Business Intelligence Balanced Scorecard product within the system. This project also discusses the benefits which the proposed business intelligence tool once implemented in a healthcare organization can provide for all hierarchical levels of the organization.

The variation in information needs across any healthcare provider organization forces healthcare information technologies (HIT) platforms, systems, processes and procedures to align its design to support the unique information needs of each department and role. The greater this alignment of HIT systems and technologies to specific administrator, doctor, nurse and lab technician roles, the higher the level of overall systems performance and results attained (Agrawal, Grandison, Johnson, Kiernan, 2007). Just as an enterprise has strategic information needs that help to define the future direction of the business, healthcare provider organizations also have a comparable set of strategic information needs. The administrative roles in healthcare providers need to have a consolidated view of the organization from a cost, quality management, service level, patient recovery rate, patient satisfaction and profitability standpoint as well (Middleton, 2005). All of these factors are often gathered together in a dashboard that administrators often rely on to manage the core areas of their healthcare business (Leung, 2012). Administrator's information needs are also longer term in nature and more oriented towards the development of strategic initiatives that will last several years, requiring

R.L Fielding (2008) reiterates that Business Intelligence is a thorough and holistic analysis of the company records, data, information, and software application for effective decision making. All decision making processes need an organized, readily-accessible, and human readable compilations of data. With the use of an effective tool the firm can easily figure out their own business processes, the behavior of their customers, and the economic trend of the industry. With these facts, the firm can arrive at a better strategy to achieve their specified goals with confidence.