Back to School Offer

Get 20% of Your First Order amount back in Reward Credits!

Get 20% of Your First Orderback in Rewards

All papers examples
Get a Free E-Book! ($50 Value)
HIRE A WRITER!
Paper Types
Disciplines
Get a Free E-Book! ($50 Value)

Revenue Trends That Affect the Healthcare Industry, Research Paper Example

Pages: 2

Words: 585

Research Paper

One of the current trends in healthcare today is the movement of physicians from private practice into the hospital setting. They often choose this move due to the financial benefits of working for a larger entity versus working for ‘themselves’ as well as having a lower risk of liability, malpractice insurance, and overhead that normally comes with owning a private practice. Also, many hospitals in more rural areas are now catering to new graduates in the hopes of obtaining them at lower salaries but offering them assistance with student loan repayment and health packages if they commit to working for a predetermined number of years at the hospital in question. This is appealing to some new graduates who find that they graduate from medical school and often have a difficult time securing the residency they hoped for and also find themselves in insurmountable debt from the past several years. It seems like a win-win situation.

Another revenue trend affecting the healthcare industry is the implementation of the electronic medical record system. This system, while not necessarily easy to learn in the beginning, has shown great potential in being proactive at preventing and decreasing patient medical errors with medications and medication dosages from the pharmacy department to the nursing units (Yates, 2007). It will inevitable save the healthcare industry millions of dollars and thousands of lives in the long term once the system is fully implemented nationwide due to the standardization of prescription protocols and the way medications are entered into the system, dispensed to medical personnel, and administered to patients. While it is a positive benefit to the healthcare profession, the patients are the ultimate winners in this situation because they are the individuals who will reap the benefits of receiving the correct medications at the correct times in the correct dosage increments (Yates, 2007).

Identify and describe how different types of healthcare entities are affected by economic hardships:

Healthcare fraud is one of the most costly and preventable causes of hardship in the medical industry. The costs associated with healthcare fraud are exorbitant and can be avoided, unfortunately many companies and individuals would rather choose to be dishonest and commit fraud rather than actually bill clients for the services they receive and diagnose clients properly instead of misdiagnosing them in order to justify their insurance claims (Office of Inspector General, 2012). A common example of healthcare fraud would be to perform laboratory tests on an individual that are not medically necessary or even needed in order to collect money from federal and state government funding agencies.

Another example of healthcare fraud committed by physicians and hospitals or other institutions is the double billing of medical visits and routine procedures for patients that are performed every day. Many times these will be billed directly to the patient and also to the insurance company or to the state or federal government that provides assistance for the patient’s medical care (Office of Inspector General, 2012). This is fraud because the state, federal, or private insurance will pay the claim and the patient will many times be expected to pay the claim as well. Alternately, the procedure may be billed in duplicate as if two different procedures were performed when there was only one procedure performed and the insurance or government assistance agency will pay twice for one procedure.

References

Office of Inspector General. (2012). Health care fraud and abuse control program report. Retrieved from U.S. Department of Health and Human Services: http://oig.hhs.gov/reports-and-publications/hcfac/index.asp

Yates, C. (2007). Implementing a bar-coded bedside medication administration system. Critical Care Nursing Quarterly, 30(2), 189-195.

Time is precious

Time is precious

don’t waste it!

Get instant essay
writing help!
Get instant essay writing help!
Plagiarism-free guarantee

Plagiarism-free
guarantee

Privacy guarantee

Privacy
guarantee

Secure checkout

Secure
checkout

Money back guarantee

Money back
guarantee

Related Research Paper Samples & Examples

Application of RFID Technology in Reverse Logistics, Research Paper Example

Background/ Introduction Reverse logistics is one of the most challenging aspects of the supply chain. While forward logistics is usually an orderly process, reverse logistics [...]

Pages: 1

Words: 353

Research Paper

Commodity Form and Legal Form, Research Paper Example

The present economic global crisis has spearheaded a renewed interest in the theories embedded in the works of Karl Marx. As a matter of fact, [...]

Pages: 15

Words: 4260

Research Paper

Impact of the Exchange System in Venezuela, Research Paper Example

Venezuela has come to the lime light for a number of reasons, most of which have tarnished its reputation economically and financially. Venezuela experienced periods [...]

Pages: 4

Words: 1207

Research Paper

The Medical Supply Company’s Software Acquisition, Research Paper Example

There are mainly four methods of software acquisition. The use of each technique depends on some factors including MSC’s goals and objectives, human resource capacity, [...]

Pages: 3

Words: 701

Research Paper

Eating Disorders Amongst Teens and Young Adults, Research Paper Example

Introduction There has been an increased prevalence of eating disorders amongst tends and young adults. While individuals of both genders experience eating disorders, they are [...]

Pages: 6

Words: 1769

Research Paper

The American Revolution, Research Paper Example

Introduction The American Revolution was one of the most influential times in U.S. history, there were a lot of things that made America the great [...]

Pages: 7

Words: 1996

Research Paper

Application of RFID Technology in Reverse Logistics, Research Paper Example

Background/ Introduction Reverse logistics is one of the most challenging aspects of the supply chain. While forward logistics is usually an orderly process, reverse logistics [...]

Pages: 1

Words: 353

Research Paper

Commodity Form and Legal Form, Research Paper Example

The present economic global crisis has spearheaded a renewed interest in the theories embedded in the works of Karl Marx. As a matter of fact, [...]

Pages: 15

Words: 4260

Research Paper

Impact of the Exchange System in Venezuela, Research Paper Example

Venezuela has come to the lime light for a number of reasons, most of which have tarnished its reputation economically and financially. Venezuela experienced periods [...]

Pages: 4

Words: 1207

Research Paper

The Medical Supply Company’s Software Acquisition, Research Paper Example

There are mainly four methods of software acquisition. The use of each technique depends on some factors including MSC’s goals and objectives, human resource capacity, [...]

Pages: 3

Words: 701

Research Paper

Eating Disorders Amongst Teens and Young Adults, Research Paper Example

Introduction There has been an increased prevalence of eating disorders amongst tends and young adults. While individuals of both genders experience eating disorders, they are [...]

Pages: 6

Words: 1769

Research Paper

The American Revolution, Research Paper Example

Introduction The American Revolution was one of the most influential times in U.S. history, there were a lot of things that made America the great [...]

Pages: 7

Words: 1996

Research Paper

Get a Free E-Book ($50 in value)

Get a Free E-Book

How To Write The Best Essay Ever!

How To Write The Best Essay Ever!