Paying for Hospital Services Student’s Name Institutional Affiliation Paying for Hospital Services Health is an essential aspect of everyday life. Healthy human beings help build families manage corporations run businesses work and contribute towards strengthening the economy. Healthy people cultivate an excellent social and economic life; this is why investing in healthcare is quite essential. Both governments and the private sector invest heavily in research geared towards finding new medicines to cure diseases and prevent them from occurring. The use of technology has enabled the medical industry to be among the most innovative and sophisticated in the world today. It is vital to ensure both the patient and physician are taken care of. The hospital also needs to factor in the running costs hence the availability of different payment systems tailored to fit different needs and abilities of the patients. In the fee-for-service system services are separated and paid seems to stand in the middle. In contrast global payments offer a more extensive range of services for a lengthy period. One healthcare body usually provides them. In conclusion medical care involves three main parties; the hospital the physician and the patient. America encourages its citizens to seek medical cover from insurance companies to facilitate care especially during emergencies. Some policies such as Medicare and Medicaid help some needy individuals such as the elderly and physically disabled. For the provision of quality care information care and understanding is necessary. References Adida E. Mamani H. & Nassiri S. (2017). Bundled Payment vs. Fee-for-Service: Impact of Payment Scheme on Performance. Management Science 63(5) 1606-1624. dx.doi.org Boone J. (2014). Fee-for-Service Capitation and Health Provider Choice with Private Contracts. SSRN Electronic Journal. dx.doi.org Takaku R. & Yamaoka A. (2016). Payment Systems and Hospital Length of Stay: A Bunching-Based Evidence. SSRN Electronic Journal. http://dx.doi.org/10.2139/ssrn.2883048 [...]
Part I - Paying for Hospital Services Discuss the advantage and disadvantage of the following hospital payment systems on cost containment and provider behavior: • Fee-for-service • Per diem • The DRG-based payment system (i.e., Medicare’s Inpatient Prospective Payment System) • Capitation Part II - Paying for Physician Services Using the background materials and the information you find from the literature and on the Internet, respond to the following questions: 1. Discuss the difference in Medicare payment methods for outpatient services and physician services. 2. Discuss the difference between bundled payments and global payments.