Week 6 Forum Cost Control: Health Care Finance Paper

Cost Control
Name
Institutional Affiliation
Cost Control
Health care finance entails a type of finance the assist both health care beneficiaries and patients make payment for the medical services and expenses incurred in the long and short term. Some of the stated types of finance can either have a general meaning or a definition connected precisely to the health sector (Rambur, 2015). It further refers to the allocation of funds for use in specific health cares, to the population, and regional groups. A structured health care financing system enables managers in each section of an organization strategize financial allocation of the organization. Besides, as an employee of the organization, they can also benefit from the financing (Rambur, 2015).
Medicare is a health insurance program run by the United States federal government, especially for persons of 65 years and above, people with disabilities, and others suffering from End-Stage Renal Diseases. The program is entirely meant for a special part of the population (Chapin, 2015). On the other hand, Medicaid is a program jointly run by the states and the federal governments that aids low-come families and individuals for costs arising from long-haul custodial and medical care, provided they meet a certain criterion. Moreover, Medicaid is run as an assistance program for the low-income individuals while Medicare is an insurance package (Harrington, 2015). However, when an individual is eligible for both packages, they programs will work together in order to provide the individual with a good health reportage.
The health care reforms being undertaken affect the financial delivery of health care today. The new reforms would ensure the extending of health insurance to all Americans (Harrington, 2015). It would further affect the programs being run including Medicare and Medicaid as their financing is reduced. However, the reforms would establish insurance exchanges that would cluster individuals and small organizations into larger entitie...