Finances in Healthcare Essay
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 …show more content…
Payments by individuals and/or employers which cover health plans; indemnity plans, preferred provider plans (PPO), point of service plans (POS, health maintenance plans (HMO’s) and high deductible plans (HDHP’s)
Forms of payment * Fee for Service- blue shield blue cross developed this plan. Most common the patient pays a deductible or co-pay. * Prepayment- insures patients pay fixed amount for services rendered. Basic or routine care is usually fully covered with small co-payments.
Cost Sharing * Copayments * Deductibles * Coinsurance
Policy Limitations * Maximum-out-of-pocket-expenditure * Lifetime limit Types of benefits Comprehensive policies; basic, major medical, or hospital policies; catastrophic coverage policies, disease specific policies, Medi-Gap policies
Insurance is a huge part of the health care however