Essay Example on Health Care Financial Crisis: Need for Reforms

Introduction

The financial position of the health care industry is wavering. There exist numerous complications in health care that need to be handled while proposing health care reforms. Inneh (2018) argued that the biggest tribulations faced by the health care systems are the financial problems. The increasing costs of the health care systems have left most individuals unable to access or afford proper care. Inneh (2018) further maintained that reforms in the field of health care have a great impact on the patients, government spending, future medical students as well as health care professions. An effective health care reform proposal helps in the implementation of a cost-effective outcome while putting into consideration the future results that come with such reforms. Various health care challenges are associated with the financial constraints that need to be addressed. Topping et al. (2017) claimed that while the need for services is rising, resources to take care of them are depleting. Besides, there exists a substantial increase in the cost of delivering health care services to most individuals. The financial reforms in the health care system show the need for the health care industries to accomplish more by utilizing the resources at their disposal in order to remain feasible (Inneh, 2018). The health care reforms proposed by this paper will help in addressing the prevailing condition of the health care systems by suggesting various things to be incorporated in the future health care systems trends.

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Technological Reforms

Advancements in technology will play a vital role in ensuring enhancements in service delivery in the health care systems. Topping et al. (2017) argued that the incorporation of technology in the health care systems will have an end result of enhancing speed, efficiency and hence helps in solving the various financial challenges that are evident in the health care systems. Inneh (2018) noted that embracing technologies such as artificial intelligence will ensure efficiency, speed and hence lowering cost in health care systems. Besides, artificial intelligence will assist clinicians to undertake a more in-depth approach to better care plan coordination, disease management, and aid patent to better comply and manage their long-term treatment programs. Furthermore, artificial intelligence will be vital in the drug research and discoveries (Inneh, 2018). The capability of drug research and discoveries by the artificial intelligence will lead to a substantial reduction in both the costs of the drugs as well as the time needed to market such drugs.

Moreover, incorporation of other aspects of technology such as human management information systems (HMIS) in health care will lead to a significant boost in the health care system. Inneh (2018) argued that incorporation of the human management information systems will be essential evidence-based policy-making, evaluation, and implementation of health programs informed decision making as well as for proper usage of resources at every level of the health care systems.

The inclusion of various technological aspects in the health care systems will have unimaginable advantages to the health care systems that can be thought of (Topping et al., 2017). For one, technology will make it easy for health practitioners to serve a large number of clients as most of the care services will be accessed online via the mobile applications.

However, Inneh (2018) claimed that stringent measures must be put in place to restrict the type of patients' data that can be allowed to the public. He further noted that despite the positive prospects of technology in the health care systems, confidential information of patients need to be protected as possible; this, therefore, will call be regulation concerning who should have access and monitor patient information to ensure a high degree of confidentiality (Topping et al., 2017).

Impact of Future Trends on Quality, Efficiency and Patient Outcome

The future of trends in health care systems is characterized by technological revolution. The incorporation of artificial intelligence as well as the HMIS in the future will have an impact of increased quality in health care delivery as clinicians will be able to handle a large number of patients via the internet and mobile applications (Topping et al., 2017). Besides, the introduction of artificial intelligence in the future will help in increasing efficiency in the research and development of drugs hence registering a positive patient outcome.

Benefit of the Proposal

The proposal with well the health care to greatly improve their efficiency as well as profitability. For example, a hospital may utilize the clinical decision support systems to help them attain a positive financial outcome. The system would enable healthcare providers to oversee the utilization of the laboratory. Topping et al. (2017) argued that the systems would assist the health care providers to substantially minimize unnecessary tests without having any adverse effects on the quality of care for the patients.

Furthermore, an effective usage of the technology in health care would help the health care providers to minimize the number of errors that they might make in their prescription placement phase of the healthcare hence ensuring a high return on investment (RIO) (Inneh, 2018). Hospitals that are capable of minimizing prescription placement errors in their daily operations would be more likely to save a lot of resources in issuing the right prescriptions. Moreover, the systems such as the HMIS would assist the hospital to effectively manage the patient's information hence helping in minimizing mistakes associated with poor record-keeping (Inneh, 2018).

Besides, to remain competitive and relevant to the market, the health care systems should ensure that they keep up to date with the current technological trends in the market to ensure that they embrace modern systems (Inneh, 2018). This would ensure that health care cope up with the technological changes hence making it to provide the best services to its patients.

Impacts of Changing Payment Services

Changing the payment systems for health care would have a substantial positive impact on the service quality as well as monitoring and controlling of various costs associated with the health care. Topping et al. (2017) argued that changing the payment system would help in monitoring as well as controlling the federal spending on health care especially if payment is only to make on the for the corresponding costs of care that have been an issue. If hospitals get payments only for the services that they offer, they would not be able to generate profits form the Medicare hence helping in containing costs.

Conclusion

There are a lot of challenges that health care undergoes. Some of the challenges can only be effectively addressed if health care is subjected to stringent reforms. Most of the problems associated with health care systems emanate from finance. Taking advantage of various technological aspects would health in mitigating such challenges. Advancements in technology will play a vital role in ensuring enhancements in service delivery in the health care systems. Besides, incorporation of technology in the health care systems will have an end result of enhancing speed, efficiency and hence helps in solving the various financial challenges that are evident in the health care systems. Besides, an effective usage of the technology in health care would help the health care providers to minimize the number of errors that they might make hence ensuring a high return on investment.

References

Inneh, I. (2018). Achieving Health Equity through Health Care Reform: Current State and Outlook. Health Care: Current Reviews, 06(04), 366. https://doi.org/10.4172/2375-4273.1000233

Topping, S., Carroll, C., & Lindley, J. (2017). The Impact of Health Care Reform on Capital Acquisition for Hospitals. The Financial Review, 32(4), 751-778. https://doi.org/10.1111/j.1540-6288.1997.tb00909.x