High Cost of Healthcare Analysis

High Cost of Healthcare Analysis

The high cost of healthcare presents a significant problem that greatly affects patients and healthcare organizations. This challenge has forced patients to delay seeking care because of the cost of the treatment they need. The patient’s health deteriorates and becomes more expensive to treat. The high costs reduce our organization’s ability to acquire updated medical equipment and specialized personnel. This decreases the hospital’s capacity to offer quality care. Data collected by our organization shows that 25% of patients put off care because of the rising cost of healthcare. As a consequence, emergency room visits have increased by 15% in the past year. Furthermore, the lack of a budget forced the organization to reduce 10% of specialized personnel. This negatively affects the quality of care offered. These difficulties emphasize the importance of finding good strategies to effectively organize and control healthcare costs. It will help improve healthcare service delivery and administrative efficiency.

Galvani et al. (2020) discuss the challenge of excessive healthcare spending in the USA. They also suggest possible solutions to improve the prognosis of health care in the country. The authors point out the major causes of health spending in the country. These include excessive administrative costs, exaggerated prices for pharmaceuticals and procedures, and disorganized delivery of care. Furthermore, they say that high administrative costs and prices delay access to care and exacerbate health inequities. Among other recommendations, the authors suggest universal health care coverage for all residents and regulation of prices for procedures and pharmaceuticals. Additionally, investment in prevention and public health are some of the ways forward. They conclude that such developments would decrease health spending and consequently improve the health prognosis of the entire population.

In their article, Erwin et al. (2020) review the economic barriers that patients face in a county genetics clinic.  They also suggest possible solutions to overcome the challenges. They stress that rising health care costs, including that for genetic services, can discourage patients from seeking health care services. Furthermore, it can affect their ability to pay for recommended services. Financial barriers, such as high copays and deductibles and no insurance payment, are common problems. This is a challenge faced by most low-income patients. The authors suggest sliding-scale fees, expanding financial assistance programs, and more education for patients. The education will be about the financial support that is available to overcome these problems and increase access to genetic counseling and testing. They argue that such efforts contribute to improved health outcomes.

Different organizations are trying different approaches to address the high cost of healthcare. Some are offering sliding scale fees, while others are increasing financial aid programs. This enables uninsured and underinsured patients to access care. For instance, federally qualified health centers (FQHCs) offer reduced fees based on income (Navathe et al., 2022). Other organizations are focusing on price transparency. Patients openly know the cost of their treatment and avoid surprise bills. Health systems like Kaiser Permanente are improving preventive care and chronic disease management (Adams et al., 2022). This can reduce overall costs by preventing expensive complications. Telehealth is being expanded to offer affordable and convenient care options and reduce the need for physical visits. Some organizations are negotiating better rates for pharmaceuticals and medical supplies to reduce operational costs. Partnerships with community-based organizations are educating on preventive health measures to reduce the incidence of severe health issues that require expensive treatments. All these approaches are part of a bigger effort to lighten the financial load on patients and the healthcare system.

Galvani et al. (2020) suggest systemic changes like universal coverage, price control for medical services and drugs, and investment in preventive care. These changes will reduce overall healthcare costs and increase access to care. For example, universal coverage will ensure all patients get timely care. This will prevent costly emergency interventions and better population health outcomes. Price control will reduce patient burden and make healthcare more affordable and sustainable for organizations.

On the other hand, Erwin et al. (2020) focus on financial barriers to genetic counseling and testing. They suggest solutions like sliding scale fees and more financial aid programs. They also stress the need for patient education on available financial resources. These will directly reduce out-of-pocket costs for patients. It will also increase access to genetic services. Furthermore, it will prevent deteriorating health due to delayed diagnosis and treatment.

These will have several benefits for my organization. Sliding-scale fees and financial aid programs will increase patient access to care and reduce treatment delays and complications. Emphasis on preventive care will reduce long-term healthcare costs. Price control and negotiating better medical supply and drug rates will reduce operational costs and create better resource distribution and care.

However, there are disadvantages. Universal coverage and price control will require policy changes and prior investment. This will create short-term strain because implementation will require significant administrative changes. Staff training will also be required, which will interfere with current operations. There is also a possibility of resistance from stakeholders. Nevertheless, the long-term benefits of increased access and reduced costs will outweigh the short-term challenges.

References

Adams, A., Kluender, R., Mahoney, N., Wang, J., Wong, F., & Yin, W. (2022). The impact of financial assistance programs on health care utilization: evidence from Kaiser Permanente. American Economic Review: Insights, 4(3), 389-407. https://doi.org/10.1257/aeri.20210515

Erwin, D. J., LaMaire, C., Espana, A., Eble, T. N., & Dhar, S. U. (2020). Financial barriers in a county genetics clinic: Problems and solutions. Journal of genetic counseling, 29(4), 678-688. https://doi.org/10.1002/jgc4.1279

Galvani, A. P., Parpia, A. S., Foster, E. M., Singer, B. H., & Fitzpatrick, M. C. (2020). Improving the prognosis of health care in the USA. The Lancet, 395(10223), 524-533. https://doi.org/10.1016/S0140-6736(19)33019-3

Navathe, A. S., Chandrashekar, P., & Chen, C. (2022). Making Value-Based Payment Work for Federally Qualified Health Centers: Toward Equity in the Safety Net. JAMA, 327(21), 2081-2082. https://doi.org/10.1001/jama.2022.8285

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Develop a 2 to 3-page paper, written to your organization’s leadership team, addressing your selected national healthcare issue/stressor and how it is impacting your work setting. Be sure to address the following:

High Cost of Healthcare Analysis

• Describe the national healthcare issue/stressor you selected and its impact on your organization. Use organizational data to quantify the impact (if necessary, seek assistance from leadership or appropriate stakeholders in your organization).
• Provide a brief summary of the two articles you reviewed from outside resources on the national healthcare issue/stressor. Explain how the healthcare issue/stressor is being addressed in other organizations.
• Summarize the strategies used to address the organizational impact of national healthcare issues/stressors presented in the scholarly resources you selected. Explain how they may impact your organization both positively and negatively. Be specific and provide examples.