Healthcare Policy Issues and Implications Essay

Pages: 2 (602 words)  ·  Bibliography Sources: ≈ 2  ·  File: .docx  ·  Level: Master's  ·  Topic: Healthcare

¶ … Healthcare Policy Issues and Implications

The Impact of Healthcare Financial Policy Reform

The current precarious and unsustainable economic state of the American healthcare system is substantially attributable to the fact that for-profit health insurance companies dominate the industry (Kennedy, 2006). In that respect, it is incredibly ironic so many individuals (particularly in public office) blame the public programs (i.e. Medicare and Medicaid) for being "bankrupt" when they manage to administrate healthcare for approximately one-tenth the cost extracted (as profit) by the private healthcare industry. While administration of those public programs costs only approximately two or three percent of their total revenue, the private health insurance industry extracts more than thirty percent of the $2.2 trillion spent annually on healthcare in the United States (Kennedy, 2006). Therefore, the most obvious approach to reducing the runaway cost of American healthcare would be to eliminate (or strictly limit the maximum profits of) the private health insurance industry. Instead, Washington healthcare lobbyists essentially own so many congressmen that it has been impossible to achieve meaningful industry reforms in that regard.Buy full Download Microsoft Word File paper
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Essay on Healthcare Policy Issues and Implications the Impact Assignment

The other principle change that would greatly improve the quality of American healthcare, reduce its cost, and impact my nursing practice the most would be a shift from the ineffective and highly wasteful fee-for-service-based healthcare compensation scheme for a results-based compensation scheme such as that used in Britain (Kennedy, 2006; Reid 2009). In addition to providing a meaningful incentive to healthcare providers to focus on results, it has also proven to be a highly effective means of reducing costs by similarly disincentivizing duplication of services and other types of economic waste in healthcare services. More specifically, a results-based compensation approach increases the efficiency of physicians because it promotes a wellness-based attitude instead of a specialty-based focus that can substantially ignore overall wellness concerns.… [END OF PREVIEW] . . . READ MORE

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APA Style

Healthcare Policy Issues and Implications.  (2011, March 16).  Retrieved July 5, 2020, from https://www.essaytown.com/subjects/paper/healthcare-policy-issues-implications/86157

MLA Format

"Healthcare Policy Issues and Implications."  16 March 2011.  Web.  5 July 2020. <https://www.essaytown.com/subjects/paper/healthcare-policy-issues-implications/86157>.

Chicago Style

"Healthcare Policy Issues and Implications."  Essaytown.com.  March 16, 2011.  Accessed July 5, 2020.
https://www.essaytown.com/subjects/paper/healthcare-policy-issues-implications/86157.