Weekly Overview Week Two

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Summarize week two overview in your own words. 75 or more word count. Weekly Overview Week Two Overview This week begins to look at the health care industy as a business where providers, services, and products are provided to consumers in an effort to create revenue while maintaining quality standards. The types of business ownership (public, not-for-profit, and for-profit) and business models (solo-practice, medical group, and corporation) are reviewed with an emphasis on the pros and cons of each. An understanding of the type and model of the health care business helps establish the foundational knowledge to delve into the different health care entities providing services in the industry.

The service entities fall into several categories: education and research, suppliers, insurers and payors (finacers), government, and providers of health care services. As one will see, the health care industry consists of more than hospitals and doctor’s offices. It is an integrated delivery system of service providers who each have a role in ensuring quality and affordable care is provided to meet the needs of the patient and consumer. What you will cover:

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The healthcare industry is a multifaceted complex system that functions not only as a service provider but also as a business enterprise. It encompasses a broad spectrum of entities, including providers, suppliers, insurers, government agencies, and educational bodies, all working collaboratively to deliver quality and affordable care to the population. Understanding the intricate structure of this industry begins with examining its various ownership types and business models, which significantly influence how healthcare services are delivered, financed, and managed.

The foundational aspect of the healthcare industry's business operations involves ownership classifications: public, not-for-profit, and for-profit organizations. Public healthcare entities are primarily government-funded and focus on serving the community's health needs through agencies at the local, state, and national levels. Not-for-profit organizations operate under a board of directors, reinvesting revenue into community health programs and services without distributing profits to shareholders. Conversely, for-profit entities aim to generate profits for shareholders, influencing their operational and strategic decisions for revenue maximization.

Within these ownership types, various business models are employed. Solo practices involve a single healthcare provider managing all aspects of the practice, bearing liabilities, profits, and debts personally. Medical groups, whether general or limited partnerships, consist of multiple providers sharing responsibilities, liabilities, and profits based on contractual agreements. Corporations and limited liability entities are established by investors, offering liability protection and distinct tax obligations, with the organization itself assuming its debts and benefits.

Healthcare services extend well beyond hospitals and clinics, encompassing an array of categories pivotal to integrated health delivery. Education and research entities play a vital role by training healthcare professionals and advancing medical knowledge through universities, research organizations, and professional associations. Suppliers, including pharmaceutical companies and biotechnology firms, supply necessary medications, materials, and equipment essential to patient care.

Insurers and payors are critical in financing healthcare, comprising commercial insurers, governmental programs like Medicare and Medicaid, and employer-sponsored plans. These entities facilitate access to care by managing payment processes, often influencing service availability and quality. Government agencies develop health policies, oversee public health initiatives, and regulate healthcare providers, ensuring standards and equity in healthcare delivery.

Providers of healthcare services provide direct patient care across a spectrum of settings. Primary care providers such as physicians' offices, clinics, and urgent care centers serve as first contact points for patients. Long-term and subacute care facilities, including nursing homes, assisted living, and home care, provide extended support for chronic and recovering patients. Critical emergency and surgical care are delivered through hospitals, trauma centers, and specialized facilities, addressing urgent healthcare needs.

Supplementary and rehabilitative services enhance primary treatment, spanning diagnostic and radiological clinics, pharmacies, and specialized rehab centers, facilitating comprehensive patient recovery. End-of-life care, primarily hospice services, focus on palliative care for terminal patients, emphasizing quality of life and pain management.

The healthcare industry operates within complex delivery systems such as Integrated Delivery Systems (IDS), including models like Kaiser Permanente, Accountable Care Organizations (ACO), and Medical Homes. These systems aim to optimize coordination, avoid duplication, and improve care quality by integrating various providers and settings under unified management. Challenges faced by IDS include fragmentation of care, inefficiencies in resource use, and payment complexities due to multiple payers and mechanisms.

Compared internationally, the U.S. healthcare delivery system substantially differs from other nations through higher expenditures, lower infant mortality rates, longer life expectancy, and varying lifestyle factors affecting health outcomes. Despite high investments, issues such as unequal access, healthcare disparities, and administrative overhead remain prevalent, prompting ongoing reforms and policy debates aimed at enhancing efficiency, accessibility, and equity in healthcare services.

References

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• Kaiser Family Foundation. (2022). Health System Fact Sheet. Retrieved from https://www.kff.org
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