Healthcare Management and entrepreneurship
Over time healthcare entrepreneurship was a promising venture which attracted many stakeholders. It has been one of the fastest-growing business fields in the united states (Frank, Glazer, & McGuire., 2017). In the last five years, there has been an increase in the number of managed care organizations and the insurance organization responding to the rising demand for quality healthcare in the united states. This has further led to a very high competition, which has been affecting the cost of care in the healthcare sector. The fluctuating and unpredictable prices have caused more harm in healthcare financing where some of the procedures are not allocated funds, or payment allocation is reduced as from what it is supposed to be.
Managed care has a task to coordinate both health financing and delivery of appropriate care. However, due to the rising completions in the market, healthcare has turned out to be a profit-making field. The managed care has undergone various changes and improvement of services, which comprises of various options including; health maintenance organization; which provides a wide range of services with fixed payments. The preferred provider organizations comprise of a group of hospitals and physicians, including the insurance companies where the services are all integrated, and patient referral is utilized to ensure adequate patient care. Fee- for-service is another form of services provided where the client is expected to pay first before receiving any services (Gopee, & Galloway., 2017). Considering that most people never plan for health, it is difficult to find services in such setting, especially if it is an emergency. These varieties of services have led to competition, which has resulted in the lowering of prices of various services.
The managed care organization financial criteria are based on which will bring more profit. From the medical insurance cover, for example, chronic illness like cancer is less covered because it needs a lot of funding; therefore, it will be allocated fewer funds, or some insurance coverage will not include them in their packages. Additionally, the physicians and other health care workers get small pay in as their salaries, and considering the entry requirements to medical school which is high, this is an insult. In the recent years, medical courses have been very competitive because of the better pay. But considering the current frustrations faced in healthcare management, it will not be easy for people to choose training a physician or any other medical course.
It is difficult to fix the problem of inappropriate managed care because employees and employers can hardly appreciate the benefits of competition. Furthermore, it is hard to find legislators who can pass policy changes that can support multiple choice of healthcare service all at an affordable price. Healthcare is a sensitive area where it is difficult to sell a rational public policy (Gopee, & Galloway., 2017). The challenges facing managed care had a significant impact on the quality of care provided to the people. When physicians and other healthcare workers do not receive adequate pay, they will lack motivation to give the best of their services. Additionally, limiting resources to some procedures will impair the quality of service provided, which will result in the poor prognosis of the patients. Inadequate healthcare contributes highly to the statistics of morbidity and mortality. Healthcare should receive the best allocation and managers of healthcare should use equity to allocate funds and considering the patient as the centre of discussion.
References
Frank, R. G., Glazer, J., & McGuire, T. G. (2017). Measuring adverse selection in managed health care. In Models of Health Plan Payment and Quality Reporting (pp. 29-57).
Gopee, N., & Galloway, J. (2017). Leadership and management in healthcare. Sage.
