Academic Excellence

Monday, September 2, 2013

HEALTH CARE FINANCIAL REFORM PROPOSAL

Health Care Financial Reform Proposal
Over the period, critical analysis of the economy has suggested the enactment of health care policy in the economy. This policy has provided critical measures that seek to create changes for the governmental policies responsible for the delivery of health care services. In broader perspective, health care policy seeks to decrease the cost of health care, offer more care to the citizens, improve the quality of health services, improve existing access to individuals and expands the choice of
healthcare providers to the consumers. Finally, this policy seeks to broaden the scope of population that receives health care coverage offered by both private and public sector (Drake, 2010). Since the enactment of this policy, significant number of citizens has largely benefited from the scheme and some disparities have been identified to impact on the performance of this policy. Ideally, health care reform has been implemented to ensure that the critical factors affecting the provision of efficiency of the services is adequately reduced and this will seek to increase the scope of activities associated with healthcare reforms.

Since the enactment of the health care policy bill, critical disparities have been associated with the health care act thereby leading to the problems in establishment of reforms in the health care industry with the view of providing future benefits successful implementation of the act. In this regard, some of the findings have stated that the rising cases of disparities affecting the operation of the health care facilities and provision equitable and quality health care to the citizens (Drake, 2010). Some of the leading problems that have been associated with the provision of health care to the population have been identified as lack of transparency and reduction of efficiency. There is also the need to focus on the development of ideal financial repercussions that will seek to improve the provision of the health care services.

In view of the above factors, critical Healthcare Reform factors should be initiated while focusing on the financial operation changes with the view of improving the efficiency and also providing the transparency in the administration of financial factors (Drake, 2010). With the enactment of this bill, the patients have experienced increased protection and the affordable care Act has prescribed the development of additional fees that will be assessed on insurers and plan administrators regarding self insured members. This new fees represents the financial cost of providing group health plans for the employees and they are categorized into various groups.

1. The fees to find fund for patient centered outcomes
2. The Cadillac tax
3. Penalties attributed to payment
4. Finally, transitional reinsurance fees
The conduction of analysis has presented various problems that are related to the factors of health care bill and this has projected the development of reform process to increase the scope of functionality of the financial bills. Ideally, the introduction of the health care policy was aimed at ensuring the derivation of ideal, affordable and quality healthcare facilities to the citizens. However, the reigning disparities have resulted in the emergence of disparities in the provision of these services leading to the reduction in the applicability of the health care provision (Drake, 2010). This factor has prompted the emergence of essential proposals like those listed above. The motive for the development of the proposals above is to help in the development of critical incentives that will help in the derivation of increased health benefits to the population.

Some of the reforms that seek to improve the eventualities of the critical health care in the United States have been proposed and accomplished. However, the leading factors concerning the establishment of financial reforms have been proposed with the view of ensuring the development of critical performance of the health sector. Some of the leading proposal regarding the performance of the health industry concerns the development of ideal payment for the health care expenses.

The critical proposals have suggested the inclusion of single payer system and the reduction of the fee charged for the specific service delivered. In reality, most of the ideas presented to propose the changes have been instituted by the agency that calls for the delivery of ideal medical care to the citizens (Drake, 2010). The centre for Medicare and medical innovation has championed the development of reform projects that have largely impacted on the realization of ideal and future performance of the medical factors.

The proposed single payer system is one of the leading proposals that have been proposed for the rectification of the financial system. This proposal asserts that the government should pay for all the health care costs. Currently, the healthcare costs are subdivided between the government and the private sector through insurance. However, the establishment of the single payer system like the system in Canada will be immensely beneficial. This will increase the scope of transparency and efficiency because equality attribute will be upheld.

This will also result in the reduction in completion by the private sector thereby leading to the development of quality by the public sector. In this regard, this will result in the enhancement of increased performance of the health care policy (Drake, 2010). The introduction of single payer proposal will largely contribute towards the enactment of essential resources and personnel like in the United Kingdom. However, further information will be enacted upon the establishment of the proposal. This further information includes the corresponding mechanisms for the delivery of services and the collaboration between the public and the private sector.

Single payer health insurance will be responsible for collecting all medical fees and then paying for all medical services through the government or government related source. Finally, the proposal of single health care delivery will be essential for the delivery of critical services to the citizens because it will enhances the provision of universal system of health care to the citizens of the nation. Furthermore, the funds will be directly managed by the government to reduce the chances of misappropriation.

Another significant proposal is the reduction of the fee-for-service incentive commonly referred to as (FFS). This is the system of financial payment where the services delivered are unbundled and paid for separately. This incentive has been proposed for the enactment in the healthcare facilities because it has the capacity of increasing the delivery of quality (Drake, 2010). Rather than practicing collective payment for the services, the adoption of this system enables the doctors and physician to provide more treatment because the payment is largely dependent on the quality of the service delivered. This aspect will result in the development of increased service quality and increased efficiency of the doctors and hospitals.

On the same note, the patients will be shielded from cost sharing by the health insurance and this will have the effect of adopting the health system that can change the society. Over the period, this system has been largely adopted the leading institutions in the united states because of its capacity to reduce the onsets of inefficiencies in the economy. Adoption of this incentive is beneficial for the entire economy and further results in the realization of increasing the delivery of financial transparency in the health care industry. This system however raises the cost of health care thereby limiting the practice of offering ideal health care services to the people of the United States (Drake, 2010).


This system of health care reform has the purpose of discouraging physicians from performing procedures that includes the necessary and mandatory procedures because they are not paid of the extra services they offer the patients. In this regard, the enactment of this incentive must be coupled with the countrywide price setting mechanism that will prevent the rising costs in the health care industry. This system has been discouraged due to the emergence of financial repercussions that asserts the establishment of all payer system. Therefore, the performance and growth of the health care industry must consider adopting controlled elements of FFS.

Finally, the introduction of the affordable health care policy in the United States was an extremely essential policy. This policy has largely impacted on the development of ideal health care industry by serving the citizens. However, the recent past has witnessed the decline in the proviso of services to the citizens thereby prompting the establishment of proposals. These proposals are aimed at improving the financial attributes of the bill. In this regard, the proposals are identified as adopting all payer system, FFS or the single payer system. In view of the above proposal on the healthcare industry, it is extremely essential for the industry to adopt single payer system because of its contributions in resolving transparency and efficiency.



References

Drake, D. F. (2010). Reforming the Health Care Market: An Interpretive Economic History. United States: Georgetown University Press.

CURRENCY EXCHANGE RATE

Introduction
The emergence of globalization has resulted in the establishment of economic growth across all the economies of the world. In the wake of this development, the aspect of international trade has been adopted as the incentive for increasing the scope of development. Ideally, the aspect of foreign exchange is an integral factor that enables the conduction of international trade. Generally, exchange rates or foreign-exchange rate can be denoted as the rate at which one currency of given nation will be exchanged for another country (Lucio Sarno, 2002). This factor is essential because it highlights the value of one nation’s currency when compared with the currency of other countries. The brief comparison of various global currencies is highlighted through the help of the currency convert. The converter shows that $1 is equivalent to ARS 5.4230. Further information regarding the volatility and the information relating to the aspects of the differences in the currency exchange is presented as follows.

From the graph above, it is evident that the value of the foreign currencies generally fluctuates with regard to the emerging demand and supply factors in the market. The fixed exchange rate given by the American dollar has been accorded the aspects of increased market operation because of its stability. It is used in identifying the variations in the market.

Over the period, critical research in the market has shown that the aspects of exchange rates in the market can vary based on the policies adopted in the market. Some of the leading variations in foreign exchange rates can be presented as fixed currency and fluctuating currency (Lucio Sarno, 2002). Generally, fluctuating currency exchange rates can be identified as the type of the exchange rate that involves the fluctuation of the currency with regards to the exchange market. Majority of the global economies have adopted the aspect of fluctuating economies and they include the euro, British pound, Japanese yen and the Australian dollar amongst others. The results of the market survey have also shown that the aspect t fluctuating currencies have been adopted in the leading trading activities.

On the other hand, other nations have adopted the usage of fixed currency system. This system holds that the government must employ factors and policies for maintaining the value of the currency against other currencies in the market. Furthermore, the government of the country must ensure that the leading factors are enacted to determine the net worth of the currency with regard to fixed weight of gold or the usage of another currency (Lucio Sarno, 2002). Finally, the central government of the country with the fixed currency must enact measures aimed at selling and buying currencies at fixed price.

Currency observation and implication
The information form the market has shown that there are different currencies in the market that have been labeled as fixed currency and fluctuating currency. One of the leading fixed currencies identified is the American dollar while there are a range fluctuating currencies like Jamaican dollar, the euro and Mexican peso amongst others. The observation results form the market has highlighted the changes in the values of the currencies are effected by the onsets of changes in demand and supply in the global market.

Critical observation of the Jamaican dollar for a period of to days revealed a change from 100.750 on July 22, 2013 to the new figure 99.9520 on July 23, 2013. This change represents the strengthening of the Jamaican dollar against the American dollar.

Mexican peso is another currency that experiences fluctuation in the market given by transition from 12.5363 on July 22, 2012 to the new figure 12.5007 on July 23, 2013. This fluctuating is also ideal and it shows the capacity of strengthening in the Mexican peso because it increases the scope of development within the economy.

The observation conducted on the two currencies has shown that the floating went down thereby leading to the increases in the benefits for the person ordering supplies. When the float goes down, the peso ordering suppliers will have the factor of paying less fir the products rather than paying higher amount of local currencies for the same commodities (Lucio Sarno, 2002). In the view of the above illustrations, it is evident that the businessman will pay more when goods or the suppliers are ordered in July 22, 2012. On the other hand, the businessman will pay less for the commodities and purchases initiated when floating has reduced.

The fluctuation of foreign exchange rates is very significant for the conduction and profitability of business because it helps in determining the critical value for the investors. This factor is essential in influencing the prices of the commodities services in the industry thereby leading to the choice of investments for the investors. Certainly, increase in the demand of a particular currency results in the increase in the price of this currency (Lucio Sarno, 2002). On the other hand, when the country suffers the blow of economic slowdown, the investors will loose confidence and the value of the currency will reduce. In reality, this factor is extremely essential for the traders and it helps in the realization of marginal benefits for the investors in the economy. Therefore, foreign exchange is an extremely significant factor that helps in the realization of increased benefits and growth of the economy.






References Lucio Sarno, M. P. (2002). The Economics of Exchange Rates. United States: Cambridge University Press.

SHOULD GOOGLE ORGANIZE YOUR MEDICAL RECORDS?

Should Google Organize Your Medical Records?
The periods of the recent past has significantly resulted in the critical growth and development of various companies across the globe. Technological advancement has also been adopted in the economies as the essential contributor of growth and it has resulted in the increase in the aspects of efficiency and innovation. Ideally, the medical industry in the United States has been identified as the industry that experiences increased challenges because the attributes of technology have not been adopted (Hoffman, 2006). In view of the existing situation in the industry, majority of the Americans have continued to use the traditional and conventional systems of keeping data in physical files and folders that are stacked in the hospitals. In reality, this system is increasingly being overwhelmed due to increasing population and the concept of prescription accuracy (Matheson et al 2013, Mora, 2012). It is extremely important for the doctors to access existing patent records before the continuing with fresh prescription.

In the wake of rising complexities in the medical industry, Google Corporation has dedicated sufficient research and innovation thereby leading to the development of an online record system. This new development by Google is extremely essential because it offers both doctors and patients an ideal online platform where they can store all the medical information. In reality, Google has emerged as the leading search engine across the globe and this enabled significant number of people to earn great trust in the company (spring, 2010). Furthermore, Google has developed has pioneered the development of the application that has the potential of transforming the existing problems in the American healthcare system where storage of data has continued to be a daunting task.

The doctors from various hospitals have faced the limitation of not sharing millions of medical records in the industry. In this regard, Google has pioneered the development of “Google health” which is an application for digitalizing health records like x-rays, handwritten documents, ct scans, spreadsheet and other formats of health records (Downs, Thow & Leeder, 2013, Garets, 2006). Upon digitalization, the problem of information sharing and accurate prescription will be ideally solved.

The concept of digitalizing the health care system in the United States has been highlighted as one of the critical challenges towards attaining efficient healthcare. This system will necessitate the sharing of information regarding the patients across the entire hospitals in the region. The research has shown that technological advancement has been adopted by other sectors of the economy but only 15% of the medical field has received digitalization (Aspden, 2004, Kohn, 1999). This remains a critical challenge for the healthcare industry. Google as a wonderful investment opportunity that will help them increase the scope of competition has viewed this obstacle in digitalizing health care. This factor will also derive competitive advantage thereby helping them beat their competitors like Bing and Microsoft. According to the information from Google health, the ideal motive for the development of this application is to help in the organization of the global health records and information (Fitzmaurice et al, 2002).

The concept of allowing Google to organize medical records has been characterized by the development of various controversies and this has resulted in the development of critical concerns. As the leading search engine provider, Google has been criticized for the violation of privacy policies (L. Hoffman, 2006). Ideally, the development of this application has also been criticized because it will enable Google to collect all the relevant medical records that are deemed private and confidential. Critical arguments have stated that Google Corporation should not be allowed to access individual medical records because the search engine giant will subject them to violation (Lewis, 2000).

The research conducted in the market has also revealed that privacy concerns are integral factors that have not been addressed in the healthcare industry. The Health Insurance Portability and Accountability Act (HIPPAA) have provided minimal information regarding the protection of the medical records. The act primarily covers information flowing between health care providers, clearing houses and health insurers (DesRoches CM, et al, 2008). The existing hospitals and practices in the states that have applied the usage of online electronic medical data storage have reported significant cases of breaches in the system and this has disqualified the usage of electronic medical data storage. Further information has shown that 249,000 American citizens have been victims of online fraud and breach concerning online data (HIMSS Board of Directors, 2008, Geyman, 1999). This group of people has confirmed that their personal information has been significantly misused for obtaining suppliers and medical treatment. There is significant fear amongst the American citizens that the aspect of online medical records observation may result in the increase of security breach and increases cases of privacy violation or even medical personality theft.

In the wake of rising discussion regarding the enactment of Google health application, the management and professional from the company have reassured the public that the establishment of the application will encourage privacy violation or medical identify theft. The company has demonstrated authenticity and the zeal to protect and store medical data. According to Lewis, (2000), the proof of efficiency and security of Google corporation is the fact that it relies on its systems and application for operations. In reality, this is ideal because Google has continued to rely on its systems for operation and this has enabled the company to be identified as the leading search engine in the global market.

In the wake of rising technological advancement, the protection of personal and private information should be accorded significance. In the view of this realization, the aspect of according the custody of medical information to Google Corporation is ideally unacceptable and the company may use the information to update their database (Geyman, 1999). Therefore, the citizens of the United States should not entrust their medical information to the online company because of the rising fears of information violation and breach of the Google security system.

Finally, the case of designing electronic medical record keeping is an extremely critical factor that stores critical and valid information about the respondents. In this regard, some of the essential records that I will include in the electronic record keeping interface include the following. Age of the patient, name, sex, medical history, last medical check-up, date of appointment with the doctor and prescription are the features that will be included in the form. On the other hand, factors like race of the patient, academic background, employment status, taxation information and sexual orientation of the patients. Ideally, the rationale for the omission of the above factors is that they do not largely contribute towards the development of medical records and they always form the motive for the violation of the medical records. However, the above factors included in the online record keeping system will contribute towards highlighting the necessary medical summary of the patient thereby enhancing accuracy of prescription.




References Aspden P, Corrigan JM, Wolcott J, Erikson SM, (2004)eds. Patient safety: achieving a new standard of care. Washington, DC: National Academy Press. Downs, S. M., Thow, A., & Leeder, S. R. (2013). The effectiveness of policies for reducing dietary trans fat: a systematic review of the evidence. Bulletin Of The World Health Organization, 91(4), 262-269H. doi:10.2471/BLT.12.111468 DesRoches CM, et al (2008). Electronic health records in ambulatory care—A national survey of physicians. 359:50. Garets D, Davis M (2006). Electronic Medical Records vs. Electronic Health Records: Yes, There Is a Difference. A HIMSS Analytics™ White Paper. Geyman, J. P. (1999). Family practice:. foundation of changing health care , 285. HIMSS Board of Directors (2008.). HIMSS Personal Health Records, Definition and Position Statement. Healthcare Information Management and Systems Society (HIMSS). Fitzmaurice JM, Adams K, Eisenberg JM. Three decades of research on computer applications in healthcare: medical informatics support at the agency for healthcare research and quality. Journal of the Am Med Inform Assoc 2002;9:144–60 Kohn KT, Corrigan JM, Donaldson MS.( 1999) To Err Is Human: Building a Safer Health System. Washington, DC: National Academy Press; Lewis M.(2000) “Planning for a PHR World.” Medical Economics 85(17):18-22. L. Hoffman, M. R. (2006). How to Talk With Your Doctor: Easyread Large Bold Edition. United States: ReadHowYouWant. Matheson, L., Asherson, P., Ian Chi Kei, W., Hodgkins, P., Setyawan, J., Sasane, R., & Clifford, S. (2013). Adult ADHD patient experiences of impairment, service provision and clinical management in England: a qualitative study. BMC Health Services Research, 13(1), 1-13. doi:10.1186/1472-6963-13-184 Mora, F. (2012). The demise of Google Health and the future of personal health records. International Journal Of Healthcare Technology & Management, 13(5/6), 363-377. Spring, H. (2010). Health professionals of the future: teaching information skills to the Google generation. Health Information & Libraries Journal, 27(2), 158-162. doi:10.1111/j.1471-1842.2010.00885.x