HC Cost – Response

Gabrielle

The world revolves around making money and spending money. Scripture serves as a reminder that all that exists on earth ultimately belongs to God. God has entrusted us with becoming good stewards of his resources. 1 Peter 5:2 states, “Be good shepherds of the flock God has put in your care. Do not care for the flock as if you were made to. Do not care for the flock for money, but do it because you want to” (1 Peter 5:2 NLV – – Bible Gateway, n.d.). As healthcare administrators, they have a responsibility to manage the financial resources effectively. As Americans, we spend a large amount of money on healthcare. Compared to most developed countries, the United States spends up to four times as much on health care. America is known to be a wealthy country but definitely not the healthiest. Generally speaking, healthcare costs are rising more quickly than the prices of everything else in the economy as a whole.

Each nation’s political, economic, and social characteristics influence the resources it sets aside for healthcare, so each differs. With the evolution of technology, it creates a more expensive experience. Americans lifestyles desire to have the best, and they’re constantly pursuing the newest and most significant technological advancements. As a result, healthcare costs are the costliest anywhere in all healthcare systems. This is because a large amount of funding is utilized for technology, and the US cannot afford it. With many other issues in healthcare, many systems are inefficient. When it comes to the growing cost of medication, the cost of medical professionals’ salaries, the cost of procedures, or even a profit-oriented facility, all of these are issues that cause the rising cost of healthcare. Another significant effect of why the US spends more is the end of life care. A study conducted by Jo et al., 2023, states that more and more recent research has revealed that the spike in medical costs can be attributed to the high cost of care associated with end-of-life and nearing death. Many of those end-of-life patients are patients who have been diagnosed with cancer. With all the money spent, it doesn’t change many outcomes. Which in the end is wasteful spending. As a healthcare professional, the duty to monitor cost-effective treatment and care is imperative to the success of an organization. However, many of those life-saving matters are the cause of the increased cost of healthcare.

There is an indirect correlation between the disproportionate spending on healthcare within the United States and the prevalence of adverse health outcomes. A significant contributor to this problem is the way health insurance has affected costs for both providers and patients. Insurances have placed a cap on many services doctors and nurses provide. The only way to make up for that lost revenue providers have to see more patients and bill for more services. Far too often, patients get billed for services they are unaware they are getting. The hyperbolic increase in costs for in-hospital services can be increased by well over 100% of the initial fee. Claims reimbursement to health facilities continue to be a challenge affecting quality healthcare provision and cost (Laar et al., 2021, p 3). Recently, hospitals have made it possible for patients to dispute their hospital bills. Patients can afford medical care in numerous ways depending on their insurance type. Generally speaking, people who receive free medical care would not have to pay for their care, but those with provincial health insurance will have to pay. Medical bills have caused many people to accrue a nearly impossible debt to pay off.

References

1 Peter 5:2 NLV – – Bible Gateway. (n.d.). Www.biblegateway.com. Retrieved October 25, 2023, from https://www.biblegateway.com/passage/?search=1+Peter+5%3A2&version=NLVLinks to an external site.

Jo, M., Lee, Y., & Kim, T. (2023). Medical care costs at the end of life among older adults with cancer: a national health insurance data-based cohort study. BMC Palliative Care, 22(1), 76. https://doi.org/10.1186/s12904-023-01197-2Links to an external site.

Laar, A. S., Asare, M., & Dalinjong, P. A. (2021). What alternative and innovative domestic methods of healthcare financing can be explored to fix the current claims reimbursement challenges by the National Health Insurance Scheme of Ghana? Perspectives of health managers. Cost Effectiveness and Resource Allocation, 19(1). https://doi.org/10.1186/s12962-021-00323-2

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2. Lydia

Healthcare spending is a major concern in the United States and is higher than in any other high-income country. In fact, the United States spends twice as much on healthcare services as other countries do (Papanicolas et al., 2018). Healthcare spending can be beneficial for the system and its patients, but only if the increase in spending results in better health outcomes. However, the health outcomes of America are not any better than the countries it is compared to. In fact, the United States performs worse than other comparable countries in some health metrics such as life expectancy, infant mortality, and unmanaged diabetes (How does the US Healthcare, 2023). As these numbers increase, data following the price of labor, goods, and administrative costs should be considered by legislators and administrators in order to reform policies regarding the United States healthcare system.

There are two major drivers in healthcare spending: utilization and price. Utilization is defined as the number of services used in a healthcare visit, while price is defined as the amount charged for each service (How does the US Healthcare, 2023). Utilization rates in the United States are like those in comparable countries, meaning that the price of services is the ultimate driver in the increase in healthcare spending. The price of labor and goods is a major contributor to the rates of increased healthcare spending. According to the Peterson-Kaiser Health Systems Tracker, the United States has shorter hospital stays, fewer surgeries, and more knee replacements than any other country, yet the prices for each category are higher in the US than anywhere else (How does the US healthcare, 2023). Administrative costs also appear to be one of the largest driving forces regarding the major cost difference. In fact, the United States spends over nine hundred dollars per person on administrative costs, four times more than the average of any other wealthy country (How does the US healthcare, 2023).

The Bible provides Christians with a guideline of how they are to treat others, specifically following the example that Christ gave of loving others as he loved them. Philippians 2:3-4 says, “Do nothing from selfish ambition or conceit, but in humility count others more significant than yourselves. Let each of you look not only to his own interests but also to the interests of others” (English Standard Version, 2001/2016). In this verse, Paul has instructed the church of Philippi to act humbly, putting others’ needs above their own. This is reflected in the healthcare field as healthcare professionals are often in a position where they must put the needs of their patients above their own needs. Likewise, it may not always be convenient for healthcare facilities to implement new interventions into the system in order to reduce healthcare spending. However, when the problem is viewed as Christ views it, it is clear that it should be handled with humility and respect for the patients who are suffering from high healthcare costs and mediocre health outcomes.

References

English Standard Bible. (2016). https://esv.literalword.com/ Links to an external site.(Original work published 2001)

How does the US healthcare system compare to other countries? (2023, July 12). Peter G Peterson Foundation. October 26, 2023, https://www.pgpf.org/blog/2023/07/how-does-the-us-healthcare-system-compare-to-other-countries#:~:text=There%20are%20many%20possible%20factors,of%20the%20U.S.%20healthcare%20systemLinks to an external site.

Papanicolas, I., Woskie, L. R., & Jha, A. K. (2018). Health Care Spending in the United States and Other High-Income Countries. JAMA, 319(10), 1024–1039. https://doi.org/10.1001/jama.2018.1150Links to an external site.

Each reply must demonstrate course-related knowledge. Include at least 2 peer reviewed citations and course text book (3 sources) and biblical integration

Course textbook: Lee, R. H. (2023). Economics for healthcare managers. Health Administration Press.