Finances in Healthcare
Finances in healthcare
HCA340: Managing in Health & Human Services Instructor January 14, 2012
Examine the financial characteristics of health care delivery along with managing costs, revenues, and human resources.
I have chosen to research my final power point on the financial aspect of healthcare because this is the part of healthcare that drives me to desire change with the industry. There are so many things to understand when healthcare is being provided. The patient may never truly understand the complexity of the finances that are invested in the basic visit they have with the physician. Healthcare is very complex then adding finances to such a complex industry makes it even more complex. The core mission for every healthcare organization is the patient; however there is so much that goes on behind organization to ensure things are run smoothly for the patients. I will research how the organization is to provide services to all patients equally although they may not have the same financial status, how management creates and stays in budget, revenue, how human resources assists in the fiancés of the organization, and insurance. I will also explore how health care is financed from the patients as well as the hospitals and medical centers. The ways costs are controlled in order to bring revenue, as well as benefits offered.
National Health Spending
Over the last 40 years healthcare spending has grown at an extremely fast rate. In 2008 healthcare spending slowed to about 4%, the slowest over the last 48 years. Although spending had seemed to slow down, the United States still spent $2.3 trillion in 2008. In 2012 it was predicted to reach $2.9 trillion and account for
HCA340: Managing in Health & Human Services Instructor January 14, 2012
Examine the financial characteristics of health care delivery along with managing costs, revenues, and human resources.
I have chosen to research my final power point on the financial aspect of healthcare because this is the part of healthcare that drives me to desire change with the industry. There are so many things to understand when healthcare is being provided. The patient may never truly understand the complexity of the finances that are invested in the basic visit they have with the physician. Healthcare is very complex then adding finances to such a complex industry makes it even more complex. The core mission for every healthcare organization is the patient; however there is so much that goes on behind organization to ensure things are run smoothly for the patients. I will research how the organization is to provide services to all patients equally although they may not have the same financial status, how management creates and stays in budget, revenue, how human resources assists in the fiancés of the organization, and insurance. I will also explore how health care is financed from the patients as well as the hospitals and medical centers. The ways costs are controlled in order to bring revenue, as well as benefits offered.
National Health Spending
Over the last 40 years healthcare spending has grown at an extremely fast rate. In 2008 healthcare spending slowed to about 4%, the slowest over the last 48 years. Although spending had seemed to slow down, the United States still spent $2.3 trillion in 2008. In 2012 it was predicted to reach $2.9 trillion and account for
Bibliography: Dranove, D. (1998). Economies of scale in non-revenue producing cost centers: Implications for hospital mergers. Journal of Health Economics, 17(1), 69-83. Retrieved from http://search.proquest.com/docview/205800624?accountid=32521 This article compares the magnitude of economies and 14 non-scale producing cost centers in hospital. Betancourt, E. J. (1978). Charges vs cost-how deductions from revenue affect profit. Hospital Financial Management, 32(3), 36-36. Retrieved from http://search.proquest.com/docview/196380356?accountid=32521 I really enjoyed this article, as it went into effective financial planning. The 2 major categories of cost are total charges (the patient 's bill) and the cost of providing services. These 2 costs can be defined mathematically in the following indices: average revenue per patient day and the cost per patient day. Evans, M. (2010, Nov 17). Patients without insurance treated at free surgery day. Daily Breeze. Retrieved from http://search.proquest.com/docview/807461298?accountid=32521 This article talks about Kaiser Hospital performing 18 surgeries on patients without insurance. This was part of an annual free surgery day to give back to the community. Schmidt, R., & Altus, G. (2010). Reshaping the healthcare delivery network. Healthcare Financial Management, 64(1), 100-4. Retrieved from http://search.proquest.com/docview/196362226?accountid=32521 This article was great! Explores the fight hospitals are having for survival due to the poor economy. Sharon B. Buchbinder. Introduction to Health Care Managment 2nd edition 2012 In the text I will be able to explore insurance, management and hospital revenue.