Financial Crisis In The Healthcare System Of America
Introduction
The health care system in America today is at best a failing system. One both ends of the spectrum we have people who are unable to pay for incilen, prescriptions, and the pharmaceutical companies who abuse the free market and can charge any price they want because they know that people will pay for them. This business philosophy calls into question the moral and ethical of the business themselves. The majority of the pharmaceutical companies would rather watch someone who is unable to pay the insurance deductible succumb to their illness than lower the price of the prescriptions which would enturn lower the price of medical insurance premiums and the overall deductible. The healthcare system needs to be completely overhauled, and the government needs to regulate the prices of how much the prescriptions cost. The state and local government entities need to correctly employ the workforce so that they are able to effectively educate and treat people.
Current Healthcare issue
The average healthcare plans offer a nice incentive for the services rendered regardless if the services were truly need or not. The majority of patients that seek medical care from entities such as urgent care or care one do not question the services that rendered by the doctors because they believe that the doctors as a collective have the patient's best interest at heart. The way that doctors get paid is by insisting that the patients receive these types of medical services regardless if these type of medical procedures are needed. Some doctors are willing to admit people to NICUs because those are nothing more than profit centers. Reducing how many days people are admitted into the NICUs would overtime possibly lower the rates of insurance premiums overall. However, hospitals would take a massive financial hit in there overall bottom line. Payment programs that are currently being used to pay doctors and hospitals for medical services that are given are unethical and unorthodox.
Solutions to the financial burden
Over the past decade, the healthcare industry has seen a rise in entrepreneurs building companies such as GoodRx, Blink Health and Hoy Health that are doing everything that they can in researching the best possible ways to effectively offer people legitimate transparency between price increase on medication by issuing massive deep discount coupons in order to offset the growing price of medication which would help the patients receive the medications that they desperately need without the added cost for name brand medications. Another thing that is going to be desperately needed is government oversight of the pharmaceutical companies who manufacture the medications. In order to stop the inflation of drug prices there will need to be divine government intervention, if the government does not intervene soon people will be unable to afford the medications and there will be a decline in the overall population in the United States.
Evaluation of solutions
The solutions to the financial crisis in the healthcare system is going to require a two pronged approach. One being that the companies themselves need to reevaluate how they conduct business in the manufacturing of medications and the effective distribution of drugs being sold. The morals and ethical choices need to be changed, and they need to ask themselves this fundamental question: what is more important saving lives or making a profit. A highly effective federal overwatch needs to be established and implemented in order to effectively regulate the cost of medications and services that are rendered to the citizens. These healthcare problems can only be solved if only all three parties are involved.
Responsibilities of the Government
A strong and effective responsible leadership is the fundamental responsibility of the federal government. The federal government is the largest payer in the current established health care system. The federal government is an elected and hired body for the people and with those elections and appointment to those offices comes the duty and responsible to effectively regulate the cost and services of medication and medical service. The government can effectively engage in the manufacture of medications, treatment facilities and the individual themselves. Due the fact that the federal government is the only entity that can mandate the attention of all parties involved. The U.S government with effective leadership it that it can help streamline guidelines and set legitimate standards for the care and quality control of the service rendered. With an established effective infrastructure and the people to support those facilities only then will the government will maintain effective role in the healthcare industry.
Responsibilities of each of the three branches
The founding fathers established inside the constitution three individual branches of government. Each branch of government has there own unique set of priorities and established protocols. The legislative branch of government is divided into two seperate groups the House of Representatives and the Senate. The job of the legislative branch is to make laws, approve or disapprove recommendations to certain heads of the federal body such as the FBI, CIA and the ability to declare war. The judicial branch which house the Supreme court and the Chief justices their duty is to enforce the laws that are passed by the legislative branch. The executive branch house the president and vice president and the cabinet of the U.S.
Conclusion
The importance of the roles of the federal government have on the healthcare industry is impressive. It is imperative that the U.S. government maintain effective oversight in the ongoing healthcare issues. The cost of services and medications are nothing more than a financial center for doctors to get rich on services that are not needed. This is completely unsatisfactory, the manner in which people are forced to pay a higher premium because the insurance companies are in bedded with the doctors and the hospitals. Government oversight and regulations need to be developed and implemented in the private sector. However, another issue that comes into play is the squeeze on the idea of a free market, those fundamental ideals of a free market will be in jeopardy when the federal government does take action on the issues surrounding the failing healthcare system.
References
- Binder,Leah. (2013) The five biggest problems in healthcare today. Retrieved from: https://www.forbes.com/sites/leahbinder/2013/02/21/the-five-biggest-problems-in-health-care-today/#27aa17ff4587
- Branches of government (2018) Retrieved from: https://www.usa.gov/branches-of-government.
- Kaufman, Jack.( 2019). 10 startups tackling the problem of high prescription drug costs. Retrieved from: https://www.mobihealthnews.com/content/10-startups-tackling-problem-high-prescription-drug-costs
- Schoenbaum, Stephen, C. (2003) Obtaining Greater Value From Health Care: The Roles Of The U.S. Government. Vol. 22, No 6. Retrieved from: https://www.healthaffairs.org/doi/full/10.1377/hlthaff.22.6.183
