Review the information provided at https://www.federalreserve.gov/newsevents/speech/bernanke20080616a.htm. Discuss the major financial challenges of health care reform.
Financial Challenges of Healthcare Reform
Research and analysis regarding the financial challenges in the healthcare reforms imply that the funding or capitalizing system of healthcare usually goes through or agonizes from plenty of governmental as well as bureaucratic shortfalls and deficiencies such as spaces in the expedient marshaling, resistant material cross appropriations from the administration or the government directly towards the social or community health indemnity or security policies as well as schemes along with the insufficient or ineffective procuring or buying implementations (Priore, 2021).
The challenges that a healthcare reform usually faces are related to accessibility problems, standards or quality, and values. Lack of accessibility in the department or sector of healthcare due to expensive medical and healthcare resources is considered to be the biggest and most critical challenge that a healthcare reform usually goes through or faces (Anand & Routray, 2017).
The major financial challenges in the healthcare reform are listed below:
- Maintenance of the monetary health as well as the pliability: some of the healthcare reforms come along with substantial stable costs, which eventually makes it difficult in order to maintain flexibility within the business organization.
- Enlarging and expanding the emergency or ambulatory healthcare systems: the entire department and sector is more inclined toward the outpatient or ambulatory healthcare field.
- Growing and expanding the cost: a rise in the cost of staff recruitment or hiring, as well as the service and good providers, is affecting the financial health of the reforms.
- Insurance or security remuneration or repayment: if the healthcare reforms are not receiving the money which is due from the parties, the finances eventually get weaker as a result to which the providers of the security policy also refuse to pay off their remunerations on time. This is very challenging for the financial health of the reform.
References
Priore, R. J. (2021). Improving Financial and Operations Performance: A Healthcare Leader’s Guide. Springer Publishing Company.
Anand, S., & Routray, S. K. (2017, March). Issues and challenges in healthcare narrowband IoT. In 2017 International Conference on Inventive Communication and Computational Technologies (ICICCT) (pp. 486-489). IEEE.
