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Often, there isn't publicly available data on the best-rated physicians or hospitals for treating specific conditions. Prices aren't readily available and vastly differ according to the patient's health plan affiliation. and, unnecessarily complex billing contributes to cost shifting, drives up administrative costs, and makes price and value comparisons very difficult.
Consumer-driven health plans with higher deductibles and a savings account for health expense are emerging in an attempt to make consumers more cost conscious in their healthcare decisions just as they are in other buying decisions. In a recent Kaiser Family Foundation study (Andrews, 2006), more than 70% of people in these new plans said they consider price when deciding to see a doctor or fill a prescription, compared with just under half in traditional plans.
However, there are negative implications of consumer-driven health plans in preventative care. A fourth of people in these plans said they skipped a recommended test or treatment, compared with 15% in traditional plans (Andrews, 2006). Clearly, more improvement is needed to determine...
Further, customers' price sensitivity is artificially altered because they don't directly foot the bill. For all these reasons, the healthcare industry is in no way a properly functioning business.
Bibliography
Andrews, M. (2006, December 10). Health plan blues. U.S. News & World Report. Retrieved from Web site: http://www.usnews.com/usnews/health/articles/061210/18direct.htm
Mullen, P. (2006, May). They wrote the book on fixing the system. Managed Care. Retrieved from Web site: http://www.managedcaremag.com/archives/0605/0605.qna_porterteisberg.html
Porter, M.E. And Teisberg, E.O. (2004, July 12). Michael Porter's prescription for the high cost of health care. Harvard Business School Working Knowledge. Retrieved from Web site: http://hbswk.hbs.edu/item/4255.html
Bibliography
Andrews, M. (2006, December 10). Health plan blues. U.S. News & World Report. Retrieved from Web site: http://www.usnews.com/usnews/health/articles/061210/18direct.htm
Mullen, P. (2006, May). They wrote the book on fixing the system. Managed Care. Retrieved from Web site: http://www.managedcaremag.com/archives/0605/0605.qna_porterteisberg.html
Porter, M.E. And Teisberg, E.O. (2004, July 12). Michael Porter's prescription for the high cost of health care. Harvard Business School Working Knowledge. Retrieved from Web site: http://hbswk.hbs.edu/item/4255.html
Even though the overall life expectancy in the U.S. has increased to the age of 78, the relative ranking has fallen in relation to the rest of the world, with the U.S. now 38th out of 195 countries, behind most of Western Europe. These rankings may reflect the combination of a shortage of public health education, lack of daily exercise, poor nutrition, and the uninsured not seeking medical help. The results seem
In your opinion, has marketing been truly accepted as a necessity for health care organizations yet, or is it still regarded as a luxury? It is a necessity because of how competitive the industry is, how studies continue to show the continual sharing and publishing of healthcare benefits from given products does lead to interest and trial, and how critical the physician base as a distribution channel is (Joseph, Spake, Finney,
health care industry has undergone fundamental change over the last decade. Most of the changes have occurred within the underlying business operation of the healthcare industry. These changes will ultimately effect healthcare agency administration as it continues to evolve and innovate. Legislation in particular has had a profound impact on the health care industry and the agencies which govern it. First, due to the Affordable Care Act of 2010,
health care industry in America today is suffering greatly. It is suffering from spiraling costs, decreasing availability of qualified personnel, increasing demand for its services, and uncertainty relative to its future. Some of these problems are the result of mismanagement, lack of foresight, an aging population, and, perhaps greed but regardless of the causes the solutions must be determined and the present political climate makes this difficult. The Obama administration
healthcare industry/medical laboratories. As the conditions change and new information becomes available, one can easily realize that this industry has many components that drive it. Prices As demand for laboratory services is rather inelastic, laboratories can establish prices as they deem appropriate. Reimbursement for services is limited, however, by contracts which the laboratory holds with various healthcare plans (Daron 2008). These healthcare plans, including Medicare and Medicaid, will negotiate reimbursement fees
healthcare industry has, like so many other industries, undergone significant changes in recent years. Like many other industries, some of these changes have been propelled by technological developments and innovations, improvements over existing technology or tools that nonetheless bring with them additional, potentially unforeseen, challenges. Yet the healthcare industry has faced an additional challenge in the form of public policy and changing expectations. Cost containment has become a hot