(1)
Over the past years, businesses have depended a lot on private sectors markets. Majority of businesses have also resorted more with government regulations and provisions as well but it has only failed most of them. However, the pro-market sector has given the industry a very high-standard of living but yet still make it government complex. Furthermore, the healthcare markets has not allowed business commitment to be very successful alot and has prevented most businesses from being able to fully adopt the national health care system in order to provide universal healthcare. Therefore, most of individuals that work at majority of healthcare facilities relies on their healthcare employers to purchase their health coverage for them from private marketing sectors, which is supposed to fill in the open gaps with the healthcare market.
However, there is another reason that things are gonna become more complicated with financial management is due to the complexity of our federal structures. Unlike other countries, our country rely so much on government power , including on other countries in effort to promote for us as well as execute domestic policies. Therefore, it makes things more difficult for the industry and individuals too with complexity of financial management and with the ACA. In fact, there are so much uncontrollable and uncollected debts throughout the healthcare industry it’s over the limit.
Majority of the uncollected debt comes unpaid debts in emergency rooms because of patients not being able to afford their services. Therefore, majority of the individuals feel that emergency departments will still see them even though they might not have insurance , which is actually labeled as an unpaid debit for the healthcare facility.Also, competition amongst facilities and providers has also been another major challenge within the health industry sector with financial management as well bc sometimes others try to out do the next facility and provider. However, if the AcA being implemented for employers , it may cut a lot of the challenges with competitors and financial management out a little because they probably mostly likely will be offering some of the same plans. In fact , with this change things will most likely become more complicated for employees but a little more relaxed for employers.
(2)
Finance is the study of how businesses allocate money over time. With the implementation of the Affordable Care Act, it is posited that financial management will become more complicated. Do you agree or disagree? Explain the rationale for your response.
The Affordable Care Act (ACA) 2010 has been the most monumental change in history of health care policy in the US since the passage of Medicaid and Medicare in 1965.
ACA implementation has and continues to result in numerous claims. These claims are related to success and failure; the views as to which argument is stronger is typically colored by political party affiliation. The ACA goals of ACA were to increase the number of insured individuals, improve quality of care, and reduce costs associated with health care.
It should be noted that there is clear distinction between healthcare affordability and accessibility. Health insurance is used to pay for health care, while access refers to the process of actually obtaining care. The ACA seems to have caused a divide between healthcare payments and healthcare access. The ACA increased the number of insured to more than 20 million people. However, because ACA depended on Medicaid expansion, there are millions who lost coverage due to ineligibility for Medicaid coverage.
The effort to improve quality led to the creation of new agencies, boards, commissions, and other government entities. In turn, costs have inpractice management and regulatory compliance costs have increased.
Manchikanti, L., Helm Ii, S., Benyamin, R. M., & Hirsch, J. A. (2017). A Critical Analysis of Obamacare: Affordable Care or Insurance for Many and Coverage for Few?.Pain physician,20(3), 111–138.