How Healthcare Organizations Deal With COVID-19 Financial Issues

Introduction

The widespread dangerous COVID-19 pandemic affected all aspects of our society. Along with the overall change in the lifestyle of the citizens, connected with social distancing, constant wearing of masks, and rise of the cases of infection, healthcare facilities were highly influenced, as well. A growing number of hospitalized increased the need for medical personnel, separate wards, cots, PPE end educational programs for staff. Needless to say, the urgent conduction of all these and other required measures led healthcare organizations to financial shortages.

Discussion

Healthcare facilities in the United States had to face a serious challenge while dealing with the outbreak of COVID-19. According to the American Hospital Association, the lost revenue of the local healthcare system is reported to be $202.6 billion (Kaye et al., 2021). Along with the above-listed factors, financial distress in healthcare was caused by the cancellation of outpatient visits, and consequently, the establishment of facilities for telemedicine appointments, and a halt of a variety of elective procedures.

To control the damage, healthcare organizations might resort to principles of operational management. Specifically, cost control techniques can be used. For instance, expensive technological treatment, that often cannot be covered by insurance, should not be overused. Additionally, the automatization of some processes can be applied. If the data on the patients is collected on digital bases, it can be easily analyzed.

Conclusion

Therefore, it can be beneficial in preparing for future mass casualty incidents, that can be predicted in advance. And lastly, the supply chain issues should be dealt with. Although it is not obvious, delivery delays of the medications and other important supplies might result in the downtime of expensive equipment, pharmaceutical expiring, and limitations of the medical staff’s work.

Reference

Kaye, A. D., Okeagu, C. N., Pham, A. D., Silva, R. A., Hurley, J. J., Arron, B. L., Sarfraz, N., Lee, H. N., Ghali, G. E., Gamble, J. W., Liu, H., Urman, R. D., & Cornett, E. M. (2021). Economic impact of COVID-19 pandemic on healthcare facilities and systems: International perspectives. Best practice & research. Clinical anaesthesiology, 35(3), 293–306.

Cite this paper

Select style

Reference

StudyCorgi. (2023, September 4). How Healthcare Organizations Deal With COVID-19 Financial Issues. https://studycorgi.com/how-healthcare-organizations-deal-with-covid-19-financial-issues/

Work Cited

"How Healthcare Organizations Deal With COVID-19 Financial Issues." StudyCorgi, 4 Sept. 2023, studycorgi.com/how-healthcare-organizations-deal-with-covid-19-financial-issues/.

* Hyperlink the URL after pasting it to your document

References

StudyCorgi. (2023) 'How Healthcare Organizations Deal With COVID-19 Financial Issues'. 4 September.

1. StudyCorgi. "How Healthcare Organizations Deal With COVID-19 Financial Issues." September 4, 2023. https://studycorgi.com/how-healthcare-organizations-deal-with-covid-19-financial-issues/.


Bibliography


StudyCorgi. "How Healthcare Organizations Deal With COVID-19 Financial Issues." September 4, 2023. https://studycorgi.com/how-healthcare-organizations-deal-with-covid-19-financial-issues/.

References

StudyCorgi. 2023. "How Healthcare Organizations Deal With COVID-19 Financial Issues." September 4, 2023. https://studycorgi.com/how-healthcare-organizations-deal-with-covid-19-financial-issues/.

This paper, “How Healthcare Organizations Deal With COVID-19 Financial Issues”, was written and voluntary submitted to our free essay database by a straight-A student. Please ensure you properly reference the paper if you're using it to write your assignment.

Before publication, the StudyCorgi editorial team proofread and checked the paper to make sure it meets the highest standards in terms of grammar, punctuation, style, fact accuracy, copyright issues, and inclusive language. Last updated: .

If you are the author of this paper and no longer wish to have it published on StudyCorgi, request the removal. Please use the “Donate your paper” form to submit an essay.