The prices of these technology advances have increased from a couple of hundred thousands of dollars to multi-million dollar pieces of equipments. In this rough economy, it is challenging to keep up with these types of technologies. It puts a financial strain on the healthcare institution, but many times they have proved to be worth the cost. So I believe as healthcare administrators, we must find a balance for the need, use, and maintenance of technology used in the healthcare
Most people have a managed healthcare plan through an employer or self employment. Premiums are paid on the insured’s behalf for the purpose of covering healthcare costs. The two major healthcare plans are Health Maintenance Organization (HMO) and Preferred Provider Organization (PPO). Health Maintenance Organization (HMO) is an organization that provides healthcare coverage through hospitals, physicians, and other providers which are contracted by the HMO; this type of insurance coverage only pays for services rendered by physicians and other providers who are within the network and have agreed to treat patients according to the guidelines of the HMO contract. The HMO plan is usually less expensive because the patient is limited to certain providers.
As quoted in the book, “As advances in medicine and disease prevention have increased life expectancy in the United States, the benefits have disproportionately gone to people with education, money, good jobs, and connections” (Scott 2005:29). Another example given in the book is that class matters within marriage or romantic
Aetna provides health care, dental, pharmacy, group life, disability, and long term care benefits. The company offers a range of products and services under three categories: health care, group insurance, and large case pensions. Strong market position in the US healthcare combined with wide and deep product portfolio is enhancing customer base. However, significant reforms in the US healthcare industry, high dependence on outsourced vendors and increasing operating expenses, are likely to affect the company’s margins. The completion of a SWOT analysis of Aetna revealed that the company has several strength that will help usher the company into their next phase.
Some disadvantages of manual record keeping include; only being able to be used by one person at a time, easier to misplace, more storage space is required for paperwork and errors or more likely to occur to do misprints and bad writing (Administrative Medical Assisting). These disadvantages could put a company behind in work as well as out of business. Although electronic medical record keeping has been proven a success, there are still come disadvantages to consider. The electronic methods need protection to prevent loss of data, they
The chance of future events’ occurrence is small. When the company recognizes the likelihood of a loss, contingencies are charged against income and a liability is recorded if conditions are met. 1. Information available prior to the issuance of the financial statements states that the company probable impairs an asset or incurs a liability at the date of the financial statements. 2.
Trends and Issues Paper (Benchmark Assessment) Health care is a fast growing industry locally and globally. In conjunction with the fact that there are set of policies, rules and regulations that everyone has to understand, need to obey and implement whether it be locally or globally. This paper will discuss more about the global approach of health care delivery globally and multinational organizations. “Benchmarking is a process of comparison between the performances characteristics of separate, often competing organizations intended to enable each participant to improve to its own performance in the marketplace.” (Medical Bulleting, 2007, Vol.12 No.2). This requires good planning and continuously improving the process among employees to implement their programs in order to meet the requirements to the customers and to stay above other competitors.
If a company reports a net loss, it a. may still have a net increase in cash. b. will not be able to pay cash dividends. c. will not be able to get a loan. d. will not be able to make capital expenditures. 6.
The prices for these treatments also vary because of different factors. These reasons can be; rareness of the medicine, how much time the doctor visits with the patient, and also a patient’s insurance can affect the pricing. Although homeopathic treatments are far less expensive than chemotherapy, both can be
There are however various health care services in the United States designed to ensure that quality healthcare be given based on the patients’ illness and financial background. Though there are many healthcare agencies, two of these delivery systems will be addressed. Walk-in clinics are usually located in retail stores or pharmacies, designed to provide medical care to individuals who have non-life threatening and uncomplicated ailments. Most of the time, no appointment is needed allowing patients to come on a first come first serve basis, but the waiting may be long. At the same time walk-in clinics can be cost effective and affordable.