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Writing Assignment - Business Growth in Healthcare
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Writing Assignment - Business Growth in Healthcare
The provision from the Patient Protection Affordable Care Act 2014, is the most impactful factor that will decide how the physicians and the hospitals make the revenue from the medical services in the future (“Affordable Care Act (ACA) - HealthCare.gov Glossary,” 2018). All healthcare providers will face issues regarding the introduction of technology for the improved quality of healthcare. Due to this act, a huge majority of Americans will get health insurance through private or Medicaid programs. Insurers will see the ratio of healthier younger people signing up for the healthcare programs ("Outlook 2014: The year ahead in the healthcare business," 2008).
For the revenue, the new law encourages the Medicaid and the private sector organizations including the physician groups and hospitals to share the financial rewards and risks of patient management. Hospitals hope the expansion of Obamacare coverage, will encourage ten young individuals to buy elective care plans. Hospitals hope that the expansion of the coverage will reduce uncompensated care levels (Vu, White, Kelley, Hopper, & Liu, 2016).
Hospitals will try to reduce the operating expenses. All the focus will be on the cost of supplies. Also, all the hospitals will continue to seek the partners through the mergers and non-ownership settings the increased revenue, through efficiency in their sales. These are the only ways through which the hospitals will try to seek revenue by implementing the Act care plan.
References
Outlook 2014: The year ahead in the healthcare business. (2008, November 21). Retrieved April 12, 2019, from Modern Healthcare website: https://www.modernhealthcare.com/article/20140104/MAGAZINE/301049990/outlook-2014-the-year-ahead-in-healthcare-business
Information Technology Management (MSITM) - Campbellsville University. (2016). Retrieved Information Technology Management (MSITM) - Campbellsville University. (2016). Retrieved April 12, 2019, from Campbellsville University website: https://www.campbellsville.edu/academics/programs/information-technology-management/
Vu, M., White, A., Kelley, V. P., Hopper, J. K., & Liu, C. (2016). Hospital and Health Plan Partnerships: The Affordable Care Act’s Impact on Promoting Health and Wellness. American Health & Drug Benefits, 9(5), 269–278. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5007056/
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