Health Care Case Study
1. Why is understanding of health care financing important for nurses? Understanding the finances behind health care allows the nurse to compare cost to benefit of procedures with clients, which empowers the client to make a more educated decision about which route they should choose for their care. With this knowledge nurses must also understand the importance of providing quality care in a cost efficient manner by reducing the number of hospital acquired conditions, preventing readmissions, preventing never events, and reducing wasted supplies or services. Nurses have the opportunity to be case managers that can coordinate services the patient actually needs versus choosing services that do not benefit the client. Does the client really
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(Cherry & Jacob, 2017). Medicare and Medicaid also use a value based purchasing method to reimburse hospitals, which allows patients to complete a survey about their hospital experience (Cherry & Jacob, 2017). This data is then used to provide information to the public about the quality of hospitals (Cherry & Jacob, 2017). The value based purchasing method reimburses hospitals for quality of care versus quantity of services which was prevalent before the Affordable Care Act. (Aroh, Colellah, Douglas, & Eddings, 2015). According to Aroh et al. (2015), private insurers are projected to follow the value based purchasing method, which will further threaten the hospitals’ financial stability. Private insurance is the largest payer for health care services with 86.6% of people in the U.S. population covered in 2013. Since nurses provide the majority of care to patients, they are key to providing quality and efficient care. Continuing education is essential in keeping up with the advancing medical field and technology, and to the ability in leading and managing care of clients.
References
Aroh, D., Colella, J., Douglas, C., & Eddings, A. (2015). An example of translating value-based purchasing into value-based care. Urologic Nursing, 35(2), 61-74. doi:10.7257/1053-816X.2015.35.2.61
Cherry, B., & Jacob, S. R. (2017). Contemporary nursing: Issues, trends, & management (7th ed.). St. Louis, MO:
(Cherry & Jacob, 2017). Medicare and Medicaid also use a value based purchasing method to reimburse hospitals, which allows patients to complete a survey about their hospital experience (Cherry & Jacob, 2017). This data is then used to provide information to the public about the quality of hospitals (Cherry & Jacob, 2017). The value based purchasing method reimburses hospitals for quality of care versus quantity of services which was prevalent before the Affordable Care Act. (Aroh, Colellah, Douglas, & Eddings, 2015). According to Aroh et al. (2015), private insurers are projected to follow the value based purchasing method, which will further threaten the hospitals’ financial stability. Private insurance is the largest payer for health care services with 86.6% of people in the U.S. population covered in 2013. Since nurses provide the majority of care to patients, they are key to providing quality and efficient care. Continuing education is essential in keeping up with the advancing medical field and technology, and to the ability in leading and managing care of clients.
References
Aroh, D., Colella, J., Douglas, C., & Eddings, A. (2015). An example of translating value-based purchasing into value-based care. Urologic Nursing, 35(2), 61-74. doi:10.7257/1053-816X.2015.35.2.61
Cherry, B., & Jacob, S. R. (2017). Contemporary nursing: Issues, trends, & management (7th ed.). St. Louis, MO: