Prior to beginning work on this discussion, read Chapter 1 and Chapter 2 in the textbook as well as the Week 1 instructor guidance. Additionally, read the following resources:
What Is Health Care Economics? (Links to an external site.)
Finance and Budgeting Challenges in the Evolving Healthcare Organization – Part 1 (Links to an external site.)
Effective Budget Management and Healthcare Innovation – Part 2 (Links to an external site.)
Increasing Access to Health Insurance Benefits Everyone: Economic Impacts (Links to an external site.)
A Dozen Facts About the Economics of the US Health-care System (Links to an external site.)
What Is Healthcare Risk Assessment? (Links to an external site.)
Health Economics (Links to an external site.)
Health care results cannot be guaranteed, as other products or services can, because the results depend on various factors which are often beyond the control of the health care provider. Stobierski (2021) indicates there are multiple aspects that contribute to health care economics. Below is the key area you are assigned to complete in your initial post:
Spending growth: budgeting to address rising operational costs, administrative costs, per-person cost for care, new initiatives, and maintaining or improving the financial condition of the organization
First letter of last name: A, E, K, P, U, Y
The role of the provider: quality of care (e.g., procedures provided, tests ordered, biases that create barriers in patient care and the impact biases have on people who have historically been marginalized), bureaucratic tasks that often lead to burnout
First letter of last name: B, G, L, R, V
Risk assessments (e.g., data breaches, medical errors, regulatory noncompliance, etc.)
First letter of last name: C, H, M, W, Z
Insurance benefits design: covered services, prohibited services, cost shifting from insurer to patient
First letter of last name: D, I, N, S, Q
Payment reform: new payment models, value-based care, readmission penalties, HMOs, PPOs
First letter of last name: F, J, O, T, X
In your initial post, address the following:
Explain in your own words the definition of the key area assigned to you.
Briefly analyze what the assigned key area means to the health care industry in terms of revenue, profits, and productivity.
Discuss how your assigned key area affects cost, quality, and access for health care services.
Identify at least one U.S. law that has impacted your assigned key area. Provide your rationale for why you chose that law.
Examples include, but are not limited to, Health Insurance Portability and Accountability Act (HIPAA), Health Information Technology for Economic and Clinical Health (HITECH) Act, Emergency Medical Treatment and Active Labor Act (EMTALA), Anti-Kickback Statute, Stark Law, Genetic Information Nondiscrimination Act (GINA), Patient Protections and Affordable Care Act (PPACA or ACA). There are additional examples in Chapter 2 of the course textbook.
Your initial post must be at least 250 words and use a minimum of two credible sources to support your discussion content. The supporting resources can be your textbook as well as the required or recommended resources provided in this course, the University of Arizona Global Campus Library, or credible websites.
The Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. All referenced materials must include citations and references in APA format. Please see directions for including APA Style elements on these Writing Center pages: APA: Citing Within Your Paper (Links to an external site.) and APA: Formatting Your References List (Links to an external site.).
Guided Response: Due by Day 7. Respond to two peers assigned different topics than you by the end of Day 7. In your response, compare your assigned key area to the topic covered by a peer who analyzed a different key area from you. Determine where the two key areas intersect from the perspective of health care economics. Each response must be at least 100 words and substantively contribute to the discussion.