Solutions to Patient Care Financial Problem and Budget Impact

Solutionsto Patient Care Financial Problem and Budget Impact

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Solutionsto patient care financial problem and budget impact

Solutionsto patient care financial problems include increasing accountabilityin the health care. An affordable and high-quality healthcare systemis needed, but the issues are making the whole process expensive needto be handled. Innovations and experiments to transform patient caredelivery and payment are under way (Grol,et al., 2013).Here are some of the ideas with practical instances of how theyoperate.

Advocatefor bundled payments whereby health care providers are paid one lumpsum for the services to treat a patient with a certain illness. It,therefore, implies the incentive of doing more to earn more vanishes(Conrad &amp Leiter, 2012).A patient in need of cardiac surgery instead of paying the hospital,the surgeon, the anesthesiologist, the insurer combines these intoone payment that will be divided amongst the clinicians. They aremostly used for high-cost processes like maternity care, jointreplacement, and bypass surgery. Cost-effective treatments are reliedupon and follow up is done to monitor patients for any complicationsafter they leave the hospital.

Usingof accountable care organization which is a partnership betweenhealth insurance plan and providers like specialists, hospitals,rehabilitation centers, and long-term care facilities. They shareresponsibility and the financial risk for the delivery of qualityhealth care to patients. The partnership receives funds from theinsurer to cover for the costs of providing care to patients (Dunham,&amp Pinczuk, 2014).Any savings will be shared with them after meeting quality and costtargets for their patients. Penalties are charged on the providerswho go over the budget. Accountable care organizations provideappropriate care for patients instead of providing many services.

Healthcare providers’ opinion on solutions to patient care financialproblems

DonaldBerwick, the former administrator Centers for Medical and MedicaidServices, says it’s feasible to lower health care costs withoutharming patients. As such, this could be through applying the bundlepayment system or using accountable care organizations. The safeholding of income from health industry to a position where taxpayerswillingly pay and average citizens easily afford has upsetpolicymakers and politicians for long(Jones, 2013).Achievement of promises of the Affordable Care Act requires solidsteps to give physicians and patients a chance to make better healthcare choices. High-impact, based on evidence policies will give thehealth sector system a viable path. Such ideas symbolize a systemthat improves health and controls costs simultaneously. Innovationswill grow, thinking will be more critical, and investments willincrease (Lafond,Charlesworth, &amp Roberts, 2015).The result will be new job opportunities, new companies, and theinvention of new technology making the health system more dependablewith competitive markets. Moving to a healthcare system that isaffordable will, therefore, increase the quality of life in the longrun.

Processfor implementation of strategies to solve patient care financialproblems

Outsourcesome services like housekeeping, food services, laundry services, andclinical and biomedical departments. Costs will be lowered and in thelong run, the costs culminating to the patient will also reduce. Theleadership should work to reduce supply costs by working withphysicians and vendors. The vendors should be negotiated with toimprove contracts and physicians be encouraged to make supplies whichare fiscally viable(Lefkowitz &amp Monheit, 2014).Proper negotiations allow for discounts to be given hence thesupplies will be cheaper making the final cost to the patient becomelower. Models to reduce readmissions should be designed so as tolower costs. To ensure this works President Obama’s healthcarerestructuring program threatens the loss of Medicare and Medicaidreimbursements to hospitals with a high number of readmissions thatcan be prevented (Jones,2013).They should ensure patients attend post-discharge visits, and thepost-discharge steps are properly taken. They should majorly focus onthe provision of care towards the quality measures and accountablecare organizations. All these will aid in lowering the operationalcosts that in turn lower the costs to be charged to the patients.

Roleof nurses in solving patient care financial problem and budget impact

Nursesare the ones in check of the targeted number of hours per day perpatient. They are required to give reports in case of any deviationsin the hours spent per patient and the explanations behind it.Therefore, they help check their units properly to avoid issues ofoverstuffing when in charge, avoid unscheduled leaves, and checkinghow the supplies are utilized. Low health care compensations withincreased number of patients call for nurses to do their best withthe little available resources (Lefkowitz&amp Monheit, 2014).The impact of this is lowering of costs which in turn lead to lowcharges to the patients.

Inconclusion, to solve patient care financial problems bundled paymentsand accountable care organizations should be used. Health careproviders and experts advocate for lower costs to be charged topatients and ensure no harm is caused them. Some strategies used tosolve the financial problems are outsourcing some services, reducesupply costs, and they should work to lower patient readmissionrates. Nurses play a significant role at the ground level to ensurethe incurred costs are lower through checking the number of hoursspent on each patient, checking the use of resources in the hospital,and avoiding unnecessary leaves during official work hours.

References

Conrad,P., &amp Leiter, V. (2012).&nbspHealthand health care as social problems.Lanham, Md.: Rowman &amp Littlefield.

Dunham-Taylor,J., &amp Pinczuk, J. Z. (2014).&nbspFinancialmanagement for nurse managers: Merging the heart with the dollar.Jones &amp Bartlett Publishers.

Grol,R., Wensing, M., Eccles, M., &amp Davis, D. (Eds.).(2013).&nbspImprovingpatient care: the implementation of change in healthcare.John Wiley &amp Sons.

Jones,R. (2013).&nbspNursingleadership and management.Philadelphia, PA: F.A. Davis Co.

Lafond,S., Charlesworth, A., &amp Roberts, A. (2015).&nbspHospitalfinances and the productivity: in the critical condition?Health Foundation.

Lefkowitz,D., &amp Monheit, A. (2014).&nbspHealthinsurance, the use of health services, and the health careexpenditures. Rockville, MD: TheAgency.