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Health Economics

AFFORDABLE HEALTHCARE SYSTEM IS YET TO BE ACHIEVED

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Pharmaceuticals

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Pharmaceuticals

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Analysis of Affordable Healthcare in the US

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Affordable healthcare system remains a mystery among many American citizens owing to many reasons.

Many laws have been enacted including the Affordable Care Act (ACA) but progressively lost its power to cover the health of many individuals especially those suffering chronic diseases.

Today, many Americans either having an insurance cover or not face the burden of paying lumpsum amount of money. The affordability of health services is indirectly proportional to the American mortality rate. Most people especially those suffering from chronic diseases such as diabetes, hypertension, myocardial infarction or stroke are losing their lives due inability to afford critical drugs for their prognosis.

The current government is stipulating laws, acts and policies aimed at ensuring every citizen is covered. However, the burden continues to increase as the established acts force the people to pay high taxes and high premiums.

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Healthcare providers, administrators and managers need to take a stake in ensuring everyone gets quality health services at affordable prices.

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ECONOMIC INDICATORS AND PRINCIPLES OF UNAFFORDABILITY OF HEALTH

Unemployment

Most people who are unemployed lack enough cash to buy expensive medicine..

Consumer Price Index

The consumer price index especially on drugs show that more money is required for less quality drugs making healthcare expensive.

Incomes and Salaries

Most people are getting low incomes which are supposed to cater for more bills thus neglecting health.

Consumer spending

The rate at which drugs are being sold is low since only a small fraction of the whole population can afford them.

Interest Rates

Increased interest rates in the health insurance policies shows that health is still unaffordable despite the insurance being there.

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Increased mortality

Unaffordability of health makes people suffering from chronic diseases be prone to death hence the mortality rate shoots up.

Reduced Quality labor

Professionals who cannot afford large hospital bills become weak and sometimes quit their jobs

Reduced Production

Death or quitting of business professionals reduces the production rate by reducing creativity and inventions.

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Solution

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ACA

President Biden is planning to reduce the health costs, and he is giving a Americans more choices.

Increasing Tax Credits

President Biden is planning to increase the tax credits so that the insurance premiums can be lowered and more working Americans can eb covered..

Covering low-income Americans

Biden is offering a premium-free option for about 4.9 million n Americans who lack insurance due to state affairs..

Surprise billing

. Biden is planning to stop surprise billing from out-of-network providers who charge insurance consumers more than in-of-network billing.

Product

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Operational Strategies for combating healthcare unaffordability

Measuring the outcomes associated with every patient

Measure the cost of care of every organization

Incorporate bundled payments for care cycles

Link the care delivery system

Define the scope of services to avoid duplication of services on patients

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Major healthcare organizations should collaborate with the government healthcare sector and stipulate how some drugs especially those normally expensive can be produced using the local resources.

Also, being bigger organizations which buy drugs and other health goods, large organizations can use the economies of scale they enjoy to provide discounts when it comes to drug purchasing.

Changing the present ACA which is the major player in controlling health costs will ensure affordability. Adopting the policy by either reducing premiums there will be low cost and high accessibility of health services.

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Socioeconomic barriers to policy change

State Politics

Some states restrict people of low income to access certain medical insurance covers stipulated by the ACA policy.

Racism

In as much as health is made affordable, some people will willingly increase the prices of heal care on women of color thereby nullifying the health affordability efforts.

Corruption

Misuse of the allocated funds by healthcare directors, managers of administrators still nullifies the efforts of making health accessible to everyone.

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Benefits of adopting the ACA changes to major organizations and how to mobilize them

Major hospital organizations will be able to provide special services to a wide variety of people thus increasing the diversity in terms of consumers.

There will be no defaults in payment for health services thus bad debts will be avoided.

Professionals will be maintained as there be affordable healthcare for their heaths.

Through discussion forums involving the health sector

Through seminars involving healthcare administrators

Through partnerships where an organization specialized in drug production partners with another specialized in hospital machinery.

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Thank You

HCM 320

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