Out of all the industries, healthcare sees the most impacting fluctuations to its revenue model (Baker & Baker, 2013). There are several factors that influence these fluctuations which include the development of electronic health records and revenue-managing software, the ultimate change in how care is brought to the patients, and new federal laws that are being passed are coalescing to adjust the site for healthcare benefactors. There are several crucial factors that will continue to influence the healthcare revenue management in the predictable future. Healthcare inflow management executives must elaborate assembly policies and procedures that will allow their establishments to keep on being economically solid through the major organizational changeover that is currently happening.
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For more than 20 years, the healthcare system of the United States has functioned on a basis of the “paid treatment” dogma, in which patients and underwriters were billed for amenities such as examinations and medical dealings. But confronted with increasing costs and uncomplimentary patient outcomes, healthcare providers have begun to back off lately from this source-driven system prearranged around what doctors do and in the direction of a patient-focused structure organized on the basis of what patients actually necessitate.
The evolving integrity-based care model is intended to improve the eminence of healthcare while dropping costs all over the structure. It puts healthcare providers to a real test, though, for the reason that they are being requested to bring improved results for a lesser amount of money. Nevertheless, the integrity-based care will continue to substitute the pay-for-treatment arrangement. The reason is that the latter simply does not support the best interests of healthcare patients. While the imminence of the centralized Affordable Care Act is still questionable and uncertain, its enactment has been escorted by the supply of lots of dollars to health providers in the United States to empower the swing to integrity-based care and the improved use of electronic health records.
This inflow has been bestowed to quite a few hospitals that are among the top one-third of the hospitals bringing positive medical outcomes, while numerous other medical centers have obtained financial backing for representing distinction in precautionary care, prenatal care, chronic illness management, and abridged medical faults (Huefner, 2011). It is obvious that health centers that have started their practice away from a pay-for-treatment model structure are not expected to relapse, specifically in spite of increasing outlook for integrity-based care.
As more and more people find out about the integrity-based care, the more they incline toward such an approach as it focuses not on the payment, but on the patient’s wellbeing. The change is real, so the hospital’s decision makers should be aware of the ways to control and improve the revenue management model. Consequently, healthcare inflow management model is an essential aspect of a successful healthcare system.
The emphasis on the proper revenue management would allow a painless transition from an outdated method to the new one that suits the majority of the nation. Healthcare providers capable of granting the wishes of clients for more reasonably priced and result-based treatment while monitoring costs have the best chance of handling the conversion to a healthcare approach that makes patients of uppermost significance. Consequently, there is a need to assess the current situation carefully as providing the best quality service is in the best interest of any hospital out there.
Baker, J. J., & Baker, R. W. (2013). Health Care Finance: Basic Tools for Nonfinancial Managers (4th ed.). Burlington, MA: Jones & Bartlett.
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Huefner, R. J. (2011). Revenue Management: A Path to Increased Profits. New York, NY: Business Expert Press.