Healthcare Financing and Cost and The Purpose and Concept of Quadruple Aim

Discussion: Review of Current Healthcare Issues
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Review of Current Healthcare Issues: Healthcare Cost
Healthcare costs and payment models are an increasingly critical impediment to healthcare access. The cost of running an effective healthcare system is quite prohibitive. Healthcare cost constitutes one of the primary concerns permeating scholarly, public, and political discourse. It is a critical stressor to healthcare settings where patients grapple with the high cost of healthcare. In some instances, the arising healthcare expenditures culminate in rising cases of impoverishment. It is not surprising that U.S citizens and government spend a massive amount of dollars to run healthcare characterized by high insurance premiums, copays, out-of-pocket expenditures, and other deductibles costs.
The overall impact of healthcare financing and associated challenges trickles down to our healthcare settings. Some of our patients are meeting healthcare costs though out of picket payments. The out-of-pocket payments have limited patients’ access to quality healthcare services. In many instances, patients who pay directly for health services may often skip medications or doctors’ appointments. Our facility is facing financial challenges, which has led to weakness in implementing its mission for delivering quality healthcare. The financial inadequacies inhibit progress in treatment, research, and education, in our hospital. Equally, it leads to staffing challenges where the hospital is not well-positioned to deploy adequate healthcare staff, leading to overstretching available human resources.
Our healthcare facility must understand colleagues associated with the healthcare financing model and approaches. Therefore, our hospital strives to pursue efforts that ensure patients' or consumer-centered approaches that help patients optimize their well-being. Our hospital has adopted a spectrum of approaches geared towards minimizing costs associated with running healthcare. First, it ensures that inpatient treatment is the last resort. It has a sounding criterion for admission has been established to allow inpatient treatment of cases that genuinely deserved such kind of management. Second, the hospital is taking care of the patients by establishing satellite clinics and establishing links with home-based care settings often associated with more affordable healthcare. Third, our facility is increasingly focused on the continuum of care by looking at primary and secondary care by offering interventions that prevent future health complications that are quite costly to manage. Our tenets of practice are aligned with the Affordable Care Act (ACA) and Quadruple Aim.
Healthcare financing and costs have unprecedented far-reaching effects across various healthcare areas. Different countries such as the U.S are enacting legislation and developing policies that are g...