Benefits of bringing business models to health care
HCA 817 Module 2 DQ 2
Is it reasonable to bring business models such as Lean Six Sigma and others to health care? If so, how might these models best be implemented? If not, why should these models not be applied to health care?
ADDITIONAL DETAILS
Benefits of bringing business models to health care
Introduction
The health care system is broken. We know this because it costs too much and the quality of care isn’t what it should be. But there’s a solution: bring business models to health care! In this article, I’ll explain why bringing business models to health care could save taxpayers money while improving patients’ quality of life.
Health care doesn’t have to be as expensive as it is.
Health care costs have risen faster than inflation for decades, and this trend shows no signs of stopping. In fact, health care costs are rising so fast that they threaten the sustainability of our system. According to some studies, we could be paying $1 trillion more per year by 2023 if we do nothing to address rising health care prices (the Congressional Budget Office found these same results in its most recent report).
Health insurance companies have also been able to charge higher premiums because they know that people will drop out when they get sick or injured—and those who remain tend to have greater claims on their policies’ networks than those who leave. As a result, insurers profit off both sides of an individual’s claim: one side receives reimbursement from an insurer while another pays its bills with premiums collected from all subscribers combined; this practice creates incentive structures that encourage overutilization while discouraging preventive services such as screenings and checkups—which may not seem like much but can add up over time.*
Consumption of health care services is an important demographic factor in driving costs.
The consumption of health care services is an important demographic factor in driving costs. In fact, the average American spends $1,000 per year on healthcare, and it’s estimated that we spend about 2% of our gross domestic product on healthcare. That’s a lot! But you don’t have to be a statistician or economist to understand why this is important: we all know someone whose family has been affected by cancer treatment costs or hospital bills that were too high for them to pay off.
That’s why it’s so important for consumers (you) to be educated about the cost of health care so they can make informed decisions when choosing where they will get their care from.
The overwhelming majority of people don’t know what their health care bills cost until after they receive them.
The overwhelming majority of people don’t know what their health care bills cost until after they receive them. Most people don’t even look at their bills or understand what it costs them to get care. They just pay for it and hope for the best.
This is a problem because consumers don’t have access to information about how much they’re paying for services, how much value these services are providing, or if they’ve received any benefit from the treatments they’ve undergone. As a result:
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Consumers can’t make informed decisions about whether or not they should use certain providers (or avoid others).
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Consumers may be overpaying without knowing it—and underpaying if there are better options available in their area.*
Business models can help keep prices down and quality up.
Health care is expensive, but it doesn’t have to be. Business models can help keep prices down and quality up.
Business models require companies to innovate and improve customer service, which in turn improves patients’ quality of life—and helps them live longer. Better understanding of costs can even lead to better health outcomes, such as fewer hospitalizations or surgeries.
Better understanding of costs can improve patients’ quality of life.
The first benefit of business models is that they can help you understand how much things cost.
When you visit a doctor, it’s not just about getting medical advice and treatment—it’s also about buying time in the office. If your insurance covers only part of your visit, then you have to pay for those services separately from what was covered by your insurance plan. And if you don’t have any payment options available at all (because they’re not offered by his or her practice), then he has no incentive to take care of you as quickly as possible because it would cost him more money than being able to charge higher prices later on down the road when patients have sicker conditions that require more time with their doctors and longer visits overall than shorter ones could accommodate without charging more per minute spent sitting there listening quietly while someone else processes paperwork instead of interacting directly with them during most visits (and therefore increasing their risk factor). It might seem like an obvious idea but many practices ignore this concept entirely because they think somehow doing so will make them less competitive against other providers who offer better deals on drugs/tests/services etcetera but really what happens instead happens often enough where people end up paying full price even though only half existed before hand!
Business models require companies to innovate and improve customer service.
Customer service is a key part of business models. For example, if you’re running a health care company, your customers are the people who need your services or products in order to stay healthy and live happy lives. In this case, customer service means making sure that everyone has access to affordable health care coverage so they can live comfortably without worrying about financial issues or being unable to afford medical treatment when they need it most.
Business models also require companies—whether small businesses or large corporations—to innovate and improve customer service because new technology is constantly emerging which makes it easier for companies like yours (or any other type) of organization: You’ll have access through web browsers like Chrome or Firefox as well as software programs like WordPress which allow users’ computers/devices (like tablets) connect directly with each other without needing an internet connection between them first before anything else happens between two parties
Bringing business models to health care can drive down costs, improve quality and strengthen customer service.
Business models can help drive down costs, improve customer service and strengthen patient experience.
Business models can help drive down costs by providing more efficient ways for providers to deliver care. For example, a business model that uses electronic medical records (EMR) allows physicians to share information more efficiently with each other and with patients. This system reduces errors in patient documentation and reduces the amount of paper used in office visits. It also makes it easier for doctors to communicate with their patients about their treatment options so they can make informed decisions about what’s best for them at any given time during their treatment plan—and enables them to do this quickly enough that there’s no wait time between seeing one doctor versus another because they’re both using EMRs instead of paper charts!
Business models also improve customer service by eliminating unnecessary friction points between consumers/patients/visitors/consumers’ families members(?) who need things done but don’t know how best way get those things done without having someone else explain step-by-step instructions every single time.”
Conclusion
Health care costs are rising at an alarming rate. As a result, more and more Americans are looking for ways to save money on their medical bills. Unfortunately, there isn’t much that can be done by individuals in this area because it’s not something that we control. However, if you’re a business owner or manager looking for ways to cut costs at your facility without compromising quality or service then there may be some useful lessons here too!
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