Profit in healthcare assignment

March 6, 2022

Profit in healthcare assignment

Profit in healthcare assignment

Profit in healthcare assignment

in this critical thinking assignment,

1. examine both sides of the ethical debate related to profit in healthcare.

Considering that Some people believe that healthcare should not be considered a business and that no profit should be made.  They believe that healthcare should simply be provided to everyone and no one should be charged.  Others recognize that fees should be charged for healthcare and that these fees should not only cover the costs but should allow for profits to be made as well.

2. Does profit in healthcare encourage providers to do more than what is necessary?

3. Do providers focus on money more than focusing on patient care?

4. As you are examining and arguing competing viewpoints for this assignment remember, there is no right or wrong answer.

Develop a PowerPoint presentation meeting the following structural requirements. Your presentation must:

· Be organized, using professional themes and transitions.

· Consist of 8 slides, not including the title and reference slides (10 total).

· Provide in each slide detailed speakers notes—a minimum of 100 words in length. Notes must draw from, and cite relevant reference materials.

· Provide support for your statements with in-text citations from a minimum of 8 scholarly articles.

· Follow APA.

Few changes in the organization of health care in the United States have stimulated more interest and alarm than the rise of a new form of entrepreneurism—investor-owned, for-profit organizations that provide health services as a business.1 Although proprietary health care organizations are not new, publicly traded health care companies that own multiple facilities have appeared only in the past 20 years. With their rapid growth and diversification they have become increasingly visible and influential. In many ways they represent a challenge to established interests, practices, values, and ideals.

The revenues of businesses that provide health services for profit have been estimated at 20 to 25 percent of the nation’s expenditures on personal health services (Relman, 1980), which would amount to $70 to $90 billion dollars today. Investor-owned health service

Profit in healthcare assignment

Profit in healthcare assignment

businesses range from large companies (such as Hospital Corporation of America, Beverly Enterprises, and Humana, Inc.) that own or operate hundreds of hospitals, nursing homes, and other facilities to independent institutions owned by local investors. In mid-1985 the stock of 34 investor-owned companies that provide health care was publicly traded (Modern Healthcare, 1985:173). Some of these companies concentrate on a particular type of facility or service, such as hospitals, nursing homes, psychiatric hospitals, health maintenance organizations (HMOs), alcoholism and drug abuse treatment, rehabilitation, home health care, urgent care, or medical offices. Others are diversified into a variety of health care and related services. In addition, several large companies whose primary lines of business are not in the delivery of health services have established or acquired health services subsidiaries.2 Many other proprietary or for-profit health care organizations are not publicly traded. Some of these are subsidiaries of not-for-profit hospitals and hospital chains; others are owned by local investors, many of whom, anecdotes suggest, are physicians. (Growth trends among health care organizations are examined in detail in Chapter 2.)

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Although ours is a predominantly capitalistic society, there has long been concern about the possible adverse or pernicious effects of profit motivations in health care (Veatch, 1983; Steinwald and Neuhauser, 1970:830-834; see also Shaw, 1911). Conflicting opinions about for-profit health care mirror common views of the profit motive and market-driven behavior. Thus, various positive benefits of the investor-owned model are often cited: that it provides new impetus for innovation, more responsiveness to the needs and desires of patients and physicians, sounder approaches to management, and an important source of new capital for health services. On the other hand, some observers see for-profit health care organizations as antithetical to the traditional mission and values of health care institutions, as a threat to the autonomy and ideals of the medical profession, and as destructive of implicit social arrangements by which medical care has often been provided to people who could not pay for it and by which teaching and research have been indirectly supported. Others are skeptical about these fears or are dubious about the extent to which health care institutions and professionals actually embody the ideals that they enunciate. Some view physicians as a type of businessperson and see nothing wrong in making money from health care. Others identify the problems not in the behavior of providers but in terms of (1) inflationary economic incentives in the way that health care is paid for (a factor that has been undergoing rapid change), (2) the lack of competition among health care providers (also rapidly changing), and (3) failures of public policy, particularly regarding people who lack insurance coverage and who are not eligible for public programs. Thus, the debate about for-profit health care touches upon most issues of health care policy in the United States.

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Questions Examined in this Report
In preparing this report the committee focused on the following major questions in seeking to illuminate for-profit health care and the issues associated with it:

How extensive is the trend toward for-profit health care and what factors underlie it?

What are the implications of the growth of investor ownership of health care institutions on the costs and quality of health care, on access to care for those who are unable to pay, and on the funding and conduct of medical education and research? In other words, does the for-profit form’s supposed greater responsiveness to economic incentives lead to systematic differences from not-for-profit and governmental institutions in the kinds of patients that are served, the kinds of services that are offered to communities, the efficiency3 with which services are provided, the prices that are charged for services, or the quality of services?

Are changes taking place in physicians’ relationships with health care institutions that will alter the traditional fiduciary aspects of the profession and the public trust that has been vested in it?

What are the public policy implications of the committee’s analysis of these questions?

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