Discussion Topic 1: I Don’t Know Nothing About Birthing No Business!

You are creating a business plan for your Unit 9 Assignment. Share with your colleagues in class what your business plan is addressing the following topics:

  • What problem did you identify for your business plan?
  • What are you proposing to solve the problem with your business plan?
  • Who is your competition?
  • How do you plan to market your solution?

below is a discussion going along with this

Health Care Financing

In consideration of the financing of health care and maintaining the financial health of a healthcare organization, the primary stakeholders are policymakers, employers, care providers, insurance firms, pharmaceutical companies, and government (Gottret and Schieber, 2006). Each of them has specific duties and responsibilities regarding health care financing. Ideally, policymakers design policies that would maximize the health of a given population within the region’s financial and resource constraints. Further, the primary goal of healthcare employers is to make money. However, many employers provide health insurance coverage with various deductibles and co-pays for their employees’ health care services. Similarly, many care providers are independent businesses that must manage their operations and finances. Two of the stakeholders, insurance firms, and pharmaceutical companies, have the primary responsibility of maximizing stockholder wealth. Insurance firms sell health coverage plans to patients directly, and indirectly through the employer or governmental intermediaries. On the other hand, pharmaceutical companies produce and market medications, which doctors prescribe to treat patients.

Typically the pharmaceutical and insurance firms obtain remuneration for their efforts through insurance or drug-benefit plans by the government (Getzen, 2012). Moreover, the body, in engaging in the provision of healthcare, focuses on its constitutional duties and responsibilities towards its citizens. Such actions involve subsidizing healthcare for the vulnerable population, which includes the aging persons, the disabled, and the poor. In financial terms, the stakeholders on the one hand, and patients and healthcare organizations on the other have a customer-supplier relationship. Thus, to sustain health care financing and a healthcare organization’s financial health, the stakeholders aim to reduce the costs of maintaining their portfolios of care services. Such endeavor makes the parties important for encouraging and even investing in the future uptake of initiatives for healthy living and stakeholder consolidation to manage healthcare risk (Cleverley, 2017). The inventiveness may include an emphasis on primary care, integrated care models, and value-based purchasing model of healthcare payment.

References

Cleverley, W. O. (2017). Essentials of health care finance. Jones & Bartlett Learning.

Getzen, T. E. (2012). Health economics and financing. Wiley Global Education.

Gottret, P. E., & Schieber, G. (2006). Health financing revisited: A practitioner’s guide. World Bank Publications.

minimum 250 words and 3 references

 

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