The Healthcare system encompasses various challenges that have negatively impacted the outcome of quality patient care. The United States experiences significant issues to do with healthcare financing. In contrast, many do believe that since the U.S is considered superior in terms of its gross domestic production, do not experience some of the health care challenges. Health care financing issues affecting healthcare include the return on investment of the affordable care act, the cost pricing of retraining healthcare workers in terms of scarcity of resources, and healthcare product pricing gave the healthcare organization’s location.
Signing into law, the affordable care act expressively sought to shift the focus of universal health care from quantity to quality care. The disease burden in the population has increased the demand for free delivery of care. Affordable care still demonstrates scarcity due to hindrances that affect its development and expansion of the population. Affordable care act has been achieved through a set of measures and regulations in the law—the rising drug costs. Higher prices resulting from consolidation among the providers and the insurers and the e rising administrative complexity have further undermined the affordability of insurance and healthcare. Additionally, the rising demand for the affordability of ACA and the scarcity of employment has made many challenging to acquire ACA.
Retaining healthcare employees is an expense many healthcare organizations find hard to avoid. However, this is a necessity now with the emergence of novel healthcare technologies that require nurses and other healthcare staff to upskill. In all organizations, financial resources are scarce. Budgeting for such an expense is typically not easy, even though the ROI is desirable. The cost of payment of healthcare workers is a challenge to many healthcare sectors concerning the demand of the healthcare system. The United States is encompassed by a shortage of healthcare workers, primarily nurses (Penner, 2016). The demand for nurses in the health care sector is higher than the current scarcity of nurses. A lack of supply has sparked the scarcity of healthcare workers. Demand is always problematic because practicing nurses are aging, and many are retiring. The scarcity of nurses in the United States has increased the demand for many institutions to train health care workers. Health care workers, especially nurses, will continue to be in high demand with a poor supply chain.
Lastly, healthcare organizations, like other organizations, choose a location based on the purchasing power of the regular clientele in their locality. This pricing strategy is tied to the caliber of services the institution expects to offer. The strategy also factors demand and supply by conducting market research to establish demand (Dawson, 2019). Reimbursement of health care products is also a health financing issue in most health sectors (Gooch, 2018). The earth’s supply is encompassed by weak links that hinder access to essential healthcare. Various factors within the health sector hinder the procurement of health commodities. This has led some health sectors to create warehouses to curb the problems of the supply chain of healthcare commodities. Poor supply of healthcare commodities has significant to poor demand for quality care.
However, organizations should incorporate a training fund into their strategic plan as a policy directive to solve the cost of upskilling staff. This would remove the fiscal difficulty of always looking for surplus areas to get funding.
Penner, S. J. (2016). Economics and financial management for nurses and nurse leaders (3rd ed.). New York, NY: Springer Publishing Company.
Gooch, K. (2018, April 17). The financial challenges facing hospitals, health systems: 4 takeaways. Retrieved from https://www.beckershospitalreview.com/finance/the-financial-challenges-facing-hospitals-health-systems-4-takeaways.html
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