FINANCIAL PROBLEMS IN HEALTHCARE - 825 Words

FINANCIAL PROBLEMS IN HEALTHCARE (Essay Sample) Content: Analysis of the financial problems in the patient health care Sector Author: Institution Patient care entails the provision of respectful and a receptive health care to a patientà ¢Ã¢â€š ¬Ã¢â€ž ¢s requirements and values and making sure that a patientà ¢Ã¢â€š ¬Ã¢â€ž ¢s values are in line with critical decisions. Public hospitals face many financial challenges in a bid for better health care provision country wide causing some to close and others shaving for insolvency. The most affected are the rural hospitals where fifty of them have been shut down since 2010. Public hospitals which have not expanded their Medicaid Programs are under much pressure. Now and then, it gets tougher for hospitals to endure in the present health care situation. It becomes difficult to get the funds to finance quality initiatives while keeping other improvements afloat. Regarding that, Siemens Financial Services conducted a survey on the key financial challenges to the patient care. The major financial problems facing patient health care provision are Investment in a less capital endowed en vironment where with changing laws, healthcare expansion access and heightening patient needs, hospitals require more financial resources. The pressure to lower costs at the same time boosting outcomes restrains the finances that a hospital can spend to ensure patient health care is enhanced ( Bazzoli, 2008). Secondly, is acclimatizing to market trends; mergers are a significant constituent of the health care. Hospitals are following suit with the market trends thus more pressure to ensure the arrangements are implemented. Patients too are voicing as consumers. The pressures, recruiting problems and sustaining the top clinical clients create financial problems. Furthermore, access to digital innovation and transition in technology as medical technology is gradually developing and hospitals should be vigilant to boost patient health care (Bierbaum, 2014). There is, therefore, a financial pressure on how to acquire funds to implement upcoming medical ideas, digital medical records, and other innovations. Finally adhering to regulation and compliance demands: hospitals ought to comply with some rules governing the system. These financial problems would be attributed to a decrease in the number of patients since few patients opt for the public hospitals' facilities. Healthcare transformations may induce people to use fewer services as Becker reports. Public hospitals thus need to examine carefully to the declining number of patients to private hospitals. Another cause being huge capital expenditures example electronic health recording which public hospitals may not afford thus opting for mergers with large hospitals. For instance, huge bad debts; the debts would be minimized by avoiding an unnecessary rush to the Emergency Room. They can educate the currently insured patients or lead them to non-emergency care rooms. Also, the hospitals can solve the bad debts problem by taking payments in the service section. The cost of health care where meeting costs ...