UKCustomPapers | Examining the financial policy of a healthcare organization

Examining the financial policy of a healthcare organization

Healthcare organizations must be economically viable to implement and maintain policies. Cost-benefit analysis measures viability and highlights when or where changes need to be made to ensure financial sustainability. In a minimum of 250 words, discuss the following:

Find a healthcare company in California (department or company-wide) of your choosing and examine the financial policy within that company that supports or negates sustainability (i.e., cost, benefit, and outcome). Provide a rationale for your position.

Sample Answer

Kaiser Permanente is a non-profit healthcare organization that provides health insurance and medical care to over 12 million members in California. Kaiser Permanente has a number of financial policies in place that support sustainability, including:

A focus on preventive care: Kaiser Permanente encourages its members to get preventive care, such as annual checkups and vaccinations. This helps to keep members healthy and reduces the need for more expensive medical care later on.
A focus on wellness: Kaiser Permanente offers a number of wellness programs to its members, such as smoking cessation programs and weight loss programs. These programs help members to improve their health and reduce their risk of chronic diseases.
A focus on efficiency: Kaiser Permanente is constantly looking for ways to improve its efficiency. This includes things like reducing waste, using energy-efficient equipment, and negotiating lower prices for medications.

Full Answer Section

These financial policies have helped Kaiser Permanente to become one of the most sustainable healthcare organizations in the country. In 2019, Kaiser Permanente was ranked #1 on the Sustainable Healthcare Leaders list by the World Economic Forum.

The cost of these financial policies is offset by the benefits that they provide. For example, the focus on preventive care saves Kaiser Permanente money in the long run by reducing the need for more expensive medical care later on. The focus on wellness programs also saves Kaiser Permanente money by reducing the number of members who develop chronic diseases. And the focus on efficiency helps Kaiser Permanente to save money on things like waste disposal and energy costs.

Overall, the financial policies of Kaiser Permanente support sustainability by helping to keep members healthy, reduce the need for expensive medical care, and save money on operating costs.

Here are some additional examples of financial policies that can support sustainability in healthcare organizations:

Pay-for-performance: This type of policy rewards healthcare providers for providing high-quality care and meeting certain quality metrics. This can help to incentivize providers to provide preventive care and to avoid unnecessary tests and procedures.
Shared savings: This type of policy allows healthcare providers and insurers to share in the savings that are generated by providing high-quality care. This can help to create a financial incentive for providers to work together to improve the quality of care.
Value-based purchasing: This type of policy rewards healthcare providers for providing high-quality care that is also cost-effective. This can help to ensure that healthcare dollars are spent on interventions that actually improve patient outcomes.

These are just a few examples of financial policies that can support sustainability in healthcare organizations. By implementing these policies, healthcare organizations can help to ensure that they are financially viable in the long term and that they are providing high-quality care that is also cost-effective.

This question has been answered.

Get Answer

Our Free Services

Paper Formatting

No Lateness!

Our Guarantees

Examining the financial policy of a healthcare organization

This question has been answered.

Our Services

Daily Statistics

Why Choose Us