This website uses cookies to ensure you have the best experience. Learn more

Microeconomics And Long Term Healthcare Essay

1115 words - 5 pages

MICROECONOMICS APPLIED RESEARCH

MICROECONOMICS AND LONG-TERM HEALTHCARE

Cochise Community College Campus

Microeconomics

Cochise Community College

Microeconomics and Long-term Healthcare
It was not long ago that our country was going through some very difficult economic times. Job losses were on the rise, there were many issues leading to an increase in foreclosures, and many financial institutions needed to be bailed out. Many people, however, held the misconception that the health care industry was immune to the economic problems that faced our society. Many thought that those working in the health care industry had no need ...view middle of the document...

Due to the influx of our aging community, many feel that nursing homes are thriving and making a large amount of money. However, this is not the case. Most nursing home's margins are often not very far from zero, being at times slightly above or slightly below. They are also facing a $16 billion cut in direct support from Medicare over the next 10 years, as well as Medicaid cuts in many states (Mullman, 2009).
To assist their situation, many nursing home facilities have tried to maximize their profit margins. There is nothing wrong with this because health care is a business but, they must not forget their main goal of caring for those that are unable to care for themselves. The problem for these facilities, however, begins when management losses sight of their main goal and starts to evaluate their entire business on the basis of the economics of the facility. It is when they attempt to maximize their profit margin at the expense of resident care that their problem begins. Unfortunately, and all too often, health care management, including long-term care managers and administrators, fail to understand that conducting business of long-term health care is not the same as conducting other forms of business.  For these administrators, the lives of dependent individuals are reliant on the decisions they make (Garavaglia, 2009). 
Many forms of reimbursement have not kept up with the rate of inflation in the medical industry.  To make up for this, administrators have been known to control their economic environment by targeting the workforce of the nursing care facility. Consequently, health care organizations have introduced many tools, such as metric systems that inform management staff how many workers are needed for a given number of residents. Also common is the use of metrics of hours per patient day. Although, using measurements to help control excess is important, the administrator has to be aware that these numbers are not etched in stone and that in addition to staff-patient/resident ratios; one has to also calculate many of those intangibles that often do not lend themselves to quantitative analysis. For example, the acuity of an environment, based on wounds, bariatric issues, or the number of acute illnesses that are currently exacerbating chronic conditions, have to be considered and factored in to the control area. These are not always easy to capture through a measurement device. 
As stated previously, those in health care are not disconnected from the larger economic problems, such as...

Other Papers Like Microeconomics and Long-Term Healthcare

The Industrial Revolution and Its Long-Term Effects

2455 words - 10 pages The Industrial Revolution and Its Long-Term Effects Introduction The Industrial Revolution has been viewed as one of the most influential events to occur on to the economic world in the history of modern society. The invention of many new items that all helped people performed certain tasks more efficiently lead the world to be able to produce many more goods in a much shorter time frame. The impact of the Industrial Revolution on the

Short Term & Long Term Financial Goals Of Chrysler, GMC And Ford

1913 words - 8 pages Financial Goals PAGE 1 Running Head: FINANCIAL GOALSShort term & Long term Financial Goals of Chrysler, GMC and FordIntroductionEvery organization has some future financial goals that help it to achieve the business objectives. A financial plan is also supportive in achieving financial goals of the organization. The financial goals should be clear for the efficiency of the financial plans. Ford, GMC and Chrysler are the Multinational

Disadvantages and Advantages of Allowing Long Term Prisoners to Watch Tv

608 words - 3 pages Topic: What are the advantages and disadvantages of allowing long term prisoners to watch television. In today's society long term prisoners have the privilege to watch television. There are good things about watching television and there are bad things about television. Television can turn one into many things, a good person or a bad person. Some advantages of watching television are that it can have a spiritual impact on ones life

“Budgeting Is A Key Component In Management Short And Long Term Planning”

350 words - 2 pages Budgeting is a key component in management short and long term planning” I agreed that budgeting is important to management short and long term planning. Budgeting is important to management as it helps people on making decision whether they have enough money to progress through to the next step of planning, expanding the business and earning profit for themselves. If budgeting or planning doesn’t exist in management, there is a risk on

Child Sexual Abuse In The United States And Its Long Term Effects

2107 words - 9 pages Child Sexual Abuse in the United States and its Long Term Effects David Andrade Liberty University SOCI-201 Robert D. Clark May 5, 2014 Abstract This will be a paper to demonstrate the staggering number of sexual abuse cases in the United States and its long term effects on children and adults. My interest in this topic is due to the fact that I have been sexually abused as a child and have been researching about the long term effects

Iron Ore Import Dependency and Long-Term Development Approach Is Expected to Begin to Crack

577 words - 3 pages Through the development prepare , the formation of clear "road map " which can regulate and lead the growth of your industry , make improvements to industrial concentration , increase voice in the global mining industry competitors , protection of strategic safety steel marketplace raw material provide silica sand washing plant for sale March 18 , China's 1st " long-term iron ore marketplace development strategy " was officially launched in

Mastery- the Keys to Success and Long-Term Fulfillment by: George Leonard

774 words - 4 pages Book Report “Mastery- The Keys To Success And Long-Term Fulfillment By: George Leonard” While trying to do better in our lives and improving ourselves, it is hard to master something well. This often can get us down on ourselves and make it hard to accomplish our goals. Mastery (The book) helps you better see that mastery is not a finite action or something that is achieved overnight. I learned a great deal from some of the insights and I

Essay Describes The Economic Causes And Effects Of The Current US Trade Defecit On The Lives Of Americans Short Term And Long Term(2004)

1203 words - 5 pages continue to grow is in debate across the world. The heavy trade deficit problem is proving to be a heavy burden in the long term because the dollar may eventually free fall, interest rates will rise greatly, and the standard of living in the US will fall greatly.At present, 17% of the country's annual budget being used to pay the interest on international trade deficits (Hamilton), and 22% of the nation's Gross Domestic Product (GDP) used to cover

The Long-Term Effects Of Globalization On The Enjoyment Of Individual Human Rights And On Social And Cultural Identities

1959 words - 8 pages , acceleration, interconnectedness, movement, mixing, and vulnerability and re embedding. Characterized by these features, effects of globalization on different aspects are various but one cannot deny its long-term impacts on the enjoyment of human rights as well as social and cultural identities. On the one hand, people argue that this globalizing trend means homogenization of culture and social identities which diminishes the attainment of human

Investing in Emotional and Psychological Wellbeing for Patients with Long-Term Conditions

522 words - 3 pages Optimal care of the patient with cancer incorporates effective physical and psychological care.There are currently several clinical practice guidelines available documenting evidence-based information and treatment recommendations for the physical care of people with cancer, many of which are also available in consumer versions. Some of these treatment guidelines include chapters devoted to psychosocial care. People with cancer suffer

Topic: a Drastic Change Was Made to the Primary School Curriculum in 1999. 1. Explain the Rationale Behind the Need for Changes to the Curricula. 2. What Immediate and Long Term Impact Do These...

1494 words - 6 pages The environment in which the new generation of learners is being immersed is driven by gadgets and other technological devices. Hence the education system has to embark on a paradigm shift and measures be put in place in order to accommodate this new generation. We also need and to facilitate and embrace a mode of teaching and learning that will epitomize their new status. As a result of this, the Primary School curriculum underwent drastic

Related Essays

Long Term And Short Term Financing

319 words - 2 pages Long-Term and Short-Term Financing FIN/200 November 19, 2010 David Stretton Long-Term and Short-Term Financing All business owners make profit but they also acquire debt in the process of making money. In order to make money as a business owner you have to spend money to be successful. So, in order for a business to stay afloat the business owners may decide to purchase big ticket items that they really do not have the on hand

Hospital And Long Term Care Essay

900 words - 4 pages Hospital and Long-Term Care Facilities Kevin L. Coleman Strayer University Professor: Dr. Kaluyu HSA: 500 February 12, 2012 By 2030 it is estimate that the United State population will be over the age of 65. The baby boomer generation although active will be placed a financial burden on the country due the need of healthcare. With the uncertainty of MEDICARE the prospect maybe bleak, and long term care will be essential for the

Social Workers And Their Long Term Clients

694 words - 3 pages Social Workers and Their Long Term Clients Drunetta Graham BSHS/305 Anie Sklar Clients Perceptions of Their Difficulties When Clients start to reflect on their difficulties they are reminded of all the hardships that may be going on such as, lack of money, problems with their families, and just being lonely. These types of hardships may be a reality, but when it actually happens to someone, it can become a very hard process. Some

The Long Term Safety And Effectiveness Of Low Carbohydrate Diets

1123 words - 5 pages greater fast. Many humans are best at the diet for some months and then go lower back to consuming typically. For those that stick with it, it was observed that after 365 days there has been not a substantial distinction in weight reduction among the low-fat and the low-carbohydrate corporations. even though end result took place fast, within the long term the Atkins food regimen didn’t show to be any more powerful at weight loss than the