HSM-410 Week 3 Discussion Question 1 – Financial Cost Controls | Download To Score An A

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HSM-410 Week 3 Discussion Question 1 – Financial Cost Controls1 How to curb the rising cost of healthcare in the US, has been the essential question for long. Many initiatives such as new medical... policies and acts have been and still are being employed to effectively hold the care costs. Now, costs containment does not need to be painful, that is affect the quality of and access to services to the patients. By focusing on other factors than care services, costs are controlled painlessly. This may not seem painless for everyone including physicians and care providers initially, but it is indeed painless, for everyone in the larger aspect. It depends upon the viewpoint of the person. For example, if the fee for service is reduced for physicians, it might be compensated by offering them benefits under performance-based incentives. According to Bodenheimer and Grumbach, the most common examples of painless cost control include (2012): • Controlled fees and provider incomes, • Reduced prices of medications and other supplies, • Regulating and reducing administrative waste, • Controlled or excluded medical interventions that offer no benefits, • Switching over to less costly but equally effective alternative technologies, • More focus on preventive care, and • Emphasized importance to primary care. Though the US has world’s best available healthcare resources, it has miserably failed at providing these benefits to its entire population at reasonable costs. To achieve a painless cost control, government regulation is most important, without government regulations and control it is difficult to achieve because all the involved parties have their own interests and point of views. Bodenheimer, T. S. & Grumbach, K. (2012). Understanding health policy – A clinical approach (6th ed.). New York, NY: McGraw-Hill This study source was downloaded by 100000829957125 from CourseHero.com on 03-02-2022 23:32:18 GMT -06:00 https://www.coursehero.com/file/36401429/Week-3-Discussion-Financial-Cost-Controlsdocx/ [Show More]

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