Medicaid Financing in Memorial Regional Hospital

Medicaid Financing
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Medicare Financing
Memorial Regional Hospital is one of the public health facilities accepting Medicaid. The hospital is located in Florida and serves South Florida residents with its high-quality services towards health issues. It provides extensive health care services, including cancer treatment, vascular and cardiac-related issues, and pediatrics services for children.
Medicaid is an insurance cover sponsored by the national government to cater for the medical bills for the low-income individuals in America and uplift their living standards (Holahan, 2018). Reducing the Medicaid insurance coverages could decrease payment to the hospitals for individuals covered by Medicaid, thus increasing the pending cost of uncompensated care bills. Therefore, it implies that the hospital will have a reduced operating margin. Medicare makes its payment in two ways, the base rate payment, a standard rate of compensation set by the Medicaid agencies within the state. The supplement payment is an additional payment to cater to excess bills but mostly makes extra payments in some hospitals.
Subsequently, Medicaid discounting may affect institutions like Memorial Regional by reducing its operations margin as most people depend on this particular insurance cover. Many people in Florida go to hospitals under Medicaid cover. Reducing the financing funds would mean that the facility would run out of medical equipment, drugs, and funds in general, thus making it challenging to run (Holahan, 2018). The hospital attends to critical services like cardiac, vascular, and cancer cases, which require special attention and facilities. It would make the medical professionals difficult as they may be forced to improvise or share some facilities due to reduced equipment. At the same time, it will affect the high disproportionate number of both insured and uninsured patients who depend on the supplement payment made to the hospital for their healthcare attention. The hospital may decide to rule out uninsured patients ultimately to reduce the expenses spent on the services offered in the name of Medicaid funds.
Medicaid participation in financing the low-income patients' bills is a fantastic idea for easy access to healthcare facilities and improved health. It works by the insurance making payment to the hospital through reimbursement (Hsia, 2019). When Medicaid finances the hospitals, including the regional memorial hospital in Florida as agreed, the hospital generates enough revenue, makes enough profit, and runs smoothly in the management sector. However, Medicaid could fail to compensate the hospital for the service it...