Financial Aspects of Health Care Delivery Essay

Furthermore, the United States spends nearly double the average $3,923 for the 15 countries ("Health Care Cost," 2011).” Accordingly the U.S. throws away more money than any other country on healthcare which consequently could jeopardize the medical attention that is being provided.

has the world’s most expensive healthcare system, yet one-sixth of Americans are uninsured. Approximately one-third (31%) of adults and a little more than one-half (54%) of children do not have a primary care doctor. Federal spending on healthcare in 2005 alone totaled $600 billion, a massive one-quarter of the federal budget. Someone files for bankruptcy every 30 seconds in the U.S of health concerns. And every 1.5 million families lose their homes to foreclosure due to unaffordable medical costs. The U.S. spends six times more per capita on the administration of the health insurance system than Western European nations, who insure all citizens.“ www.realtruth.org/articles/090203-005-health.html. “In United States, the annual cost of health care per capita is $5,711. http://www.visualeconomics.com/healthcare-costs-around-the-world_2010-03-01/#ixzz12f0I1lbk

This role has increased in importance over the recent years, because of health care reform changes and economic crises.

The cost of care has been a growing problem throughout developed nations during the last 15 years. For example, across 34 nations that make up the Organization for Economic Cooperation and Development (OECD), the average per capita health care expenditure increased by more than 70 percent between 2000 and 2010. However, the biggest spenders — such as

I 've learned while conducting these interviews that both individuals have similar issues with the healthcare system.

Healthcare costs are out of control in the United States and effective ways of reducing costs have not been empirically identified. The citizens of the United States may hold the key to reducing healthcare. With confidence in the US Administration, law enforcement, national policies and Congress waning, people are becoming more negative. If there were a more positive outlook on where the country was going and the citizens felt empowered to make a positive impact for their country, would the number of ailments experienced by an individual decrease?

The U.S. spends more on health care than the next 10 biggest spenders combined: Japan, Germany, France, China, the U.K., Italy, Canada, Brazil, Spain and Australia. 10 of the 20 occupations

DADS deals with prolonged care in county and institutional environments (Minton et al.). Comparably, the Texas Department of State Health Services (DSHS), which deals with the “…psychiatric services [provided] through the state’s mental health hospitals…,” received $1.4 billion in state funds (Minton et al.). Now, two major insurance providers, the Employees Retirement System (ERS) and the Teachers Retirement System (TRS), collectively received $3.2 billion in all state funds. Furthermore, there are other health-related expenses that are funded by the state. Such as, medical research, health care for youth and adult offenders, health benefits for the staff at University of Texas systems and Texas A&M, settlements for worker’s compensation, and assistance for the disabled. These additional funded areas accounted for $7.5 billion (Minton et al.). Patients that are uninsured tend to hold off on office visits until they are too sick to live their normal everyday lives. Due to this, hospitals and emergency rooms in Texas acquire outstanding charges that may add up to $5.5 billion. Consequently, the state must contribute its fair share of money to the uncompensated costs for emergency rooms and hospitals. In 2015, this amount came out to be $19.8 billion (Minton et al.). While these values may represent state founding in the year of 2015, one can

Break-even analysis helps to plan and control business by showing break-even point, net profit and net loss areas. As it is mentioned in the graph below, on the break-even point cost is equal to revenue which means there is neither loss nor profit at the intersection of sales line and cost line (Frongello).

The LCH model posits that people save when income is greater than the resources needed to meet current consumption and that people borrow when income is insufficient. The basic model of the LCH, however, does not explicitly consider financial shocks, such as an unexpected health condition and the corresponding impact to savings or the accumulation of debt. Debt associated with a home or car loan is viewed as a necessity while credit card debt is frequently viewed as excessive spending; but in reality, those in severe credit card debt are often those who have experienced a recent job loss and/or health problems (Drentea & Lavrakas, 2000). As people age, their health care needs begin to change. An increase in the consumption of health care services may require the allocation of additional household resources to health care costs not covered by insurance and depleted savings. The increased use of health care services may also lead to increases in borrowing (Kim, Yoon, & Zurlo, 2012). As more employers eliminate retiree health insurance coverage, retirees will have Medicare as their primary source of health care coverage. Some retirees may even have a gap in coverage if they lose their job or retire prior to the age of 65, when they become eligible for Medicare. This occurrence may lead to a significant number of consumers being exposed to a higher potential for medical debt.

In the year 2012, expenditure on US health care amounted to 2.8 million trillion dollars, accounting for 17.2 percent of the total Gross Domestic Product (GDP) of the US. The annual average cost of health care for the characteristic American family of 4 amounted to more than

Government financed health care typically has more control to place limitations on care offered to patients and doctors in order to keep costs down. Since payers must try to deliver the most care for the

Cost Valuation can be defined as choosing the right price for services, supplies and other things of value (Hutton, 2005). Choosing the right price may be based on the history of what the entity has paid that is reflected by money measurement or may be based on other measures of what a cost should be (Cleverly et. al.). Market value is a way to assess a cost value. This seems to be favorite way with many organizations. This method is not considered

With the high cost of health care today, health insurance continuation is an important consideration for many unemployed individuals, job changers, dependents of covered workers, and retirees who no longer receive employer-provided benefits. Despite several laws in effect that make it possible to extend employer-provided health insurance, some workers continue to experience "job lock." This is a situation where workers, particularly those with pre-existing health conditions, feel that they must remain in a particular job for fear of losing their health insurance coverage. Many

"Quality healthcare management includes the financial growth and viability of the healthcare organization. A healthcare organization can realize quality healthcare management only when it is fully staffed with medical and managerial professionals and is able to invest in the most advanced equipment". (eHow.com). In 2009 it was reported that 46 million Americans were uninsured. In 2011 the uninsured has risen to 50.7 million people. This was due to people losing their jobs, the recession, companies downsizing, and some companies dropping employee health insurance. What can this really mean? With just one person being uninsured in the United