The Importance Of Health Care Finance

Good Essays
Health Care Finance Health care industry is a growing business not just in America but also around globe. Behind any business, finance play a crucial in building, driving and maintaining the business regardless of the type of business is. Ultimately health care is a business, which definitely requires financial management in order to run the business. Since finance is an important aspect of health care business, it becomes extremely important for the Health care professional to have fundamental knowledge in finance. For instance Doctors, Nurse practitioners, Physician assistants, Pharmacists and Nurses etc.…. The purpose of this paper is to discuss the how socio economic status affect the health outcomes, explain affordable care act, discuss …show more content…
Access to care is widely dependent on the affordability. People with low socio economic status are more likely to not seek or access medical care they need, due to lack of medical insurance. Low Socioeconomic has definitely affected the nation’s health. This raises a major question is whether health care a right or a privilege?

Is Health Care a Right or a Privileged?
It is widely believe that health care should be a citizen’s right. It is difficult to predict whether health care in United States is a right or a privilege, because the health care in United States is still going through extensive transformation. Affordable Care Act (ACA) has definitely provided more and more people an access to care they need, which implies health care in United States is becoming more of a right than a privileged. Is the Affordable Care Act the Answer for Americans?
The passage of the Affordable Care Act (ACA) represents a significant turning point in the evolution of health care policy in the United States. The ACA targets some of the major impediments to accessing needed health care for millions of Americans through creating an infrastructure that seeks to achieve universal health insurance coverage in the United States (Gable, 2011, p.
…show more content…
Affordable care act has made a difference in terms of reducing the health insurance cost, which in turn reduce the number of uninsured people. It is a great news that more and more people would be able to access health care they need. Affordable care act is still not fully accepted in some states of the United States. Medicaid expansion under the ACA still being debated in some of the states. Millions of Americans continue to receive delayed, interrupted, and suboptimal care rather than preventive and continued care due to the fact that some of the states has rejected Medicaid expansion (Jones, Tefferi, Steensma, & Kantarjian, 2015, p. 1163). Rejection of the Medicaid expansion in some states is certainly a hurdle for American health care system heading towards the right direction. It may take some time. Eventually, the goal will be achieved, which is to make health care available at lower cost and cover all citizens, the poor, the elderly and the

Related Documents

  • Decent Essays

    Patients seem to be receiving services, but mostly in an emergency this is , because many of them know that they cannot be legally turned away for not having insurance and prior to the healthcare reform that was implemented they could be seen in this type of facility and they hospital would bill them later for the procedures that were performed. The governmental sector quickly put a stop to this when the healthcare reform was enacted giving healthcare facilities the right to turn a person away once they have been deemed stable if they do not possess proper insurance documentation. This seems to be more prominent in the low income and ethically racial minorities. These individuals do not make enough money to get insurance and the new law restricts individuals that do not possess insurance when they go to file their…

    • 1229 Words
    • 5 Pages
    Decent Essays
  • Decent Essays

    Obamacare: A Case Study

    • 758 Words
    • 4 Pages

    With this issue the health of the nation suffers, along with the quality and accessibility of care. Obamacare is beneficial because it helps to insure those who typically cannot afford health care services and are uninsured. However, there are still millions of citizens who do not meet the requirements for Obamacare and are struggling to obtain needed care due to the burden of expenses. The policy is making efforts to improve the health of the nation, but may never reach that goals fully due to the fact of not all citizens are eligible to receive Obamacare insurance. Therefore, the U.S will always have citizens who can’t afford health care, uninsured, and can’t access care when needed.…

    • 758 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    The positive effect has been shown that today these players can prevent all different single units from being able to have control to take over any of the other systems. A negative effect is that cost can be difficult to get because of the many different parts that go into payment. The main roles of the government in the US health services system was once limited to protecting us from outbreaks of diseases. The worst! But now in this day in time it has expanded into future expectations such as being a payer through public-sector programs like Medicare and Medicaid, they are providers for services to military, veterans, and indigenous populations, and lastly they are supporters of the education and training of many care providers (Barton, 2009).…

    • 707 Words
    • 3 Pages
    Decent Essays
  • Decent Essays

    Obamacare is a law to focus on providing more citizens with the right to use healthcare insurance with low costs. Developing the quality of health care insurance, arranging the health insurance industry, and decreasing health care spending in America. Obamacare affects the health care industry for example health insurance plans did not cover for nursing homes or long-term care before the new health care law, and that isn’t changing. Medicare does not cover long-term stays either. But there is a program designed to use a certain budget for Medicaid to cover some of the nursing home cost.…

    • 1414 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    Secure In-Time Health Care

    • 1258 Words
    • 5 Pages

    Health Insurance Does Not Secure In-Time Health Care Famous for its advanced insurance system design, United States has also seen citizens suffering from the unaffordable cost of insurance. With the possibility to be over $1,000, the premium is more than capable of frightening people away from health insurance. Statistics found that the uninsured rate in some states could be as high as 20% (Kovner & Knickman, 2011, p.156). Now with the introduction of ACA and relevant policies with systematic attempts to lower the cost and enhance people’s awareness, more people are expected to have access to health insurance. However, the access to health insurance only means covered expenses of the health care service delivered to the policyholder, which…

    • 1258 Words
    • 5 Pages
    Decent Essays
  • Decent Essays

    This can lead to a greater spending on the health care system. As a result, government will have to provide less quality health care treatment in order to sustain the country’s health care budget. Which means that people will be able to access to certain service instead of full service that they could be able to get like before. As Arnold Kling, a PhD in economic from Massachusetts Institute of Technology, states that “In theory, everyone has access. In practice, however, too many people wait for care and too many people receive low-quality care.” Lastly, the primary disadvantage of free health care is lack of competition.…

    • 765 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    The Affordable Care Act

    • 1327 Words
    • 6 Pages

    Many drug prescriptions are not affordable, leaving many people without the proper treatment. Obamacare also hopes to reduce spending and the cost to taxpayers. Another reason plans like Obamacare are needed is so insurance companies do no have…

    • 1327 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    Contributing factors to a longer life expectancy is having access to health care, preventative as well as consistent quality treatment for illnesses before they become disabling or life threatening (Kovner & Jonas, 2011). The United States leads the world in life expectancy after the age of eighty years only. This may be due to better access to high technology for those who can afford this type of care (Kovner & Jonas, 2011, p. 4). Many poor Americans have shorter life expectancies because they are unable to read. This may be due to a language barrier or they simply can not read.…

    • 1032 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Despite this change, there are benefits and limitations to the current provisions of the Affordable Care Act. In reviewing the benefits, there has been an evident decrease in the number of people who do not have health insurance. Furthermore, individuals who were once deemed uninsurable are now able to access health insurance. Yet there are some limitations of the Affordable Care Act. The current plans offered through this Act make it increasingly expensive for people to seek medical care.…

    • 1139 Words
    • 5 Pages
    Decent Essays
  • Decent Essays

    Question 1 The Affordable Care Act (ACA) ran its persuasion campaign on the desire to improve the health care system by providing superior medical services to more Americans at an affordable price. However, controlling costs in health care coverage continues to be a concern. In fact, most Americans still find that health insurance through the ACA’s Exchange is unaffordable with premiums and deductible taken into account. Thus, the continued rising cost of health care may be attributed in part to the direct costs consumers bear through high premiums and deductible plans. To discuss this issue, three key facts are to be taken into account: 1.…

    • 1114 Words
    • 4 Pages
    Decent Essays