Health Care Products And Service 300 Essay

1219 words - 5 pages

General Factors Influencing the Pricing of Healthcare Products and Services
Anne L Textor
HCM 320-E1WW
Professor Andy Dorn
June 17, 2017
General Factors Influencing the Pricing of Healthcare Products and Services
Healthcare industry is one of the leading and flourishing sectors of the world. The healthcare sector forms an integral part of any economy and is generally around 10% of gross domestic product (GDP) of a developed country. Therefore, it is essential for the healthcare industry to have fair pricing, provide high-quality medicines, and support healthcare providers with adequate reimbursements to deliver a low-cost, effective healthcare system for citizens. Various factors influence the way the prices of healthcare services are affected.
Method of Provider Payment. The healthcare industry uses two different types of payment methods: retrospective and perspective. The retrospective payments are calculated and paid after the service has been delivered, while prospective payments are made before the delivery of the service. In contrast to retrospective payments, in potential payments, the price reflects the anticipated costs of the services provided.
Also, it must be considered whether the payment system is variable or fixed while setting the price of the healthcare services. The price per service in a variable system is fixed, and the aggregate amount of the payment services is proportional to the volume of activity (Waters & Hussey, 2004). In a fixed network, price per service varies about the size of services. The table given below lists the strengths and weaknesses of the standard payment methods used by the patients and providers and also provides the areas where they can be applied.
PRICING OF HEALTHCARE PRODUCTS
1
PRICING OF HEALTH CARE PRODUCTS
2
Source: Cashin, 2015. Retrieved from:
www.who.int/health_financing/topics/purchasing/payment-mechanisms/en/
Availability of Information. Knowing the actual unit costs of services is essential to minimize the incentives for under- or overutilization of services. Different methodologies are available to measure the unit costs.
Top-Down Versus Bottom-Up Costing. The top-down costing involves the disaggregation of the total expenditure to the units of services, such as patient visits, patient hospital days, or use of medical diagnostic procedures and interventions (for example, the use of radiographic x-rays). The top-down costing determines the number of units of service per cost center, while the bottom-up costing involves the aggregation of the costs of each input used to provide a service.
Tracking and Allocating Costs. The calculation of accurate unit costs for healthcare services depends to a large extent on the “correct” allocation of both direct and indirect provider costs (Waters & Hussey, 2004). Direct costs such as, drugs and supplies, can be allocated directly to cost centers, whereas the indirect costs are those that cannot be directly assigned, including administrators’ salaries and...

Other Essays On Health care products and service - 300 - Essay

Governance, procurment and commission - Undergraduate - Health and social care

1003 words - 5 pages Assignment guidance for 2016 - 2017 Course BSc (Hons) Health and Social Care: Administration and Management Module code HSC_5_004 Module name Governance of Health and Social Care Please read your module guide for more information. Summative Assessment Students will be required to critique a named health or social care organisation’s board paper on a governance topic against the appropriate governance framework and give recommendations for

DEMAND FOR HEALTH AND MEDICAL CARE - Economics - economics

1819 words - 8 pages care in many ways. Health care is a need not a want in the United States and there are still many individuals have barriers like high deductibles or not being able to afford insurance. Activity 1: Demand for Health and Medical Care 7 References Bhandari, Shailesh (February 2006). Health Status, Health Insurance, and Health Service Utilization: 2001. Retrieved June 30, 2007, from www.census.gov Francis, D. (2003) Healthcare costs are up. Here are

socialisation in health and social care - level 2 - pearsons

4076 words - 17 pages get abused. This can cause anxiety and a high level of stress. this can also cause problems for your future relationships too. You still might be abit traumatized by what happened and whenever your partner gets upset or angry, you might feel they might hit you like in the past relationship. Effects of stress Level 2 Health and Social Care Salma

mark scheme of health and social care 2017 - Poole high CH4 - Health and social

3898 words - 16 pages Oxford Cambridge and RSA Examinations Cambridge Technicals Health and Social Care Unit 3: Health, safety and security in health and social care Level 3 Cambridge Technical Certificate/Diploma in Health and Social Care 05830 - 05871 Mark Scheme for January 2017 OCR (Oxford Cambridge and RSA) is a leading UK awarding body, providing a wide range of qualifications to meet the needs of candidates of all ages and abilities. OCR qualifications

Describe the main inequalities found in health care and health status

446 words - 2 pages Inequalities in health care and health statusInequalities in health care have resulted in disparities in health status. The impact is particularly evident amongst social class V who suffer from lower life expectancies (Townsend: 1992).There is consistent evidence that those in social class V are more likely to be exposed to multiple, environmental risks that portend adverse health consequences. They are more likely to encounter pollution, noise

Health Care Stigmas Among Minorities - Bethune Cookman University, English - Argumentative Essay

1539 words - 7 pages Health Care Stigmas Amongst Minorities Tianah Horton EN 240 C Bethune Cookman University November 5, 2018 Running head: HEALTH CARE STIGMAS 1 Have you ever wondered why so many minorities avoid going to the hospital to get help with their health? It is because minorities feel that hospitals are untrustworthy when it comes to the lives of minorities. It has been proven that African Americans, Latinos, and Asian Americans are more likely to suffer

Understanding health and safety - A level - essay

5567 words - 23 pages safety of meat and poultry is a paramount important. Therefore meaning, contaminated meat or poultry products present health hazards to the consumers and employees. This is also linked in with the fact that, contaminated products will carry; bacteria, viruses and potentially parasites. Not only that but, Sainsbury's staff get taught under policy following the Health and Safety management of work regulations how to; correctly use wheelchair access

community health and population - WGU C228 - essay

1273 words - 6 pages Liberia, and this caused the doctors get infected with the Ebola virus. In Mali on October 24, 2014, there was a two-year-old girl, who came from Guinea with her grandmother. The child’s was brought to the country’s health services on 20 October, 2014. The patient was examined by a health care team at Quartier Plateau in Kayes, a city in western Mali on the Senegal River. The investigation of this case revealed an extensive travel history of the

use and develop systems that promote communication - leadership in health and social care level 5 - Assignment

1857 words - 8 pages Leadership in health and social care, level 5. Unit 1 Assignment: Use and develop systems that promote communication. 1.1 Review the range of groups and individuals whose communication needs must be addressed in own job role. I work directly with service users, families and relatives, employer and colleagues. I work indirectly with other health care professionals and external agencies to provide the care that service user’s needs. Therefore, a

champion equality, diversity and inclusion - Health and Social Care L5 - assignment

2287 words - 10 pages families from abuse. As a care coordinator it is my role to ensure that all carers and Service users are treated equally. Everyone should be trated with dignity and respect. There are many legislations, codes of practice and also company policies which regulate equality, diversity and inclusion within my role, some are as follows: · Equality Act 2010 · Health and Social Care Act 2008 · The Disability Discrimination Act 1995 and 2005 · The Data

Unit 14 - Lead and Manage Group Living - Bridgwater College Health and Social Care - Unit 14

1823 words - 8 pages physical environment can promote well being by an environment is well maintained and a appropriately design this can promote psychological well- being as they feel they are living in a home that meets their personal needs, this will also help with anxiety that could also challenge the service. Physical Environment is the décor, furnishings what aids are used to support the individual to keep their independence - self care, self medication which has a

Similar Papers

Level 5 Health And Socail Care Unit 513. Weymouth College Essay

5133 words - 21 pages UNIT 513 Manage health and social care practice to ensure positive outcomes for individuals 1.1 Explain ‘Outcome based practice’ Outcomes’ are defined as the impact, or end results, of a service on an individual’s life. “Outcome-based practice, also referred to as outcomes management and outcomes-focused assessment, is one such approach to achieving desired patient care goals. It refers to activity that benefits patients and involves team work

Unit 2 Task 2 Health And Social Care Health And Social Care Assignment

2910 words - 12 pages people take control of their lives by helping individuals to do certain tasks if they need the help. In a health and social care setting the service provider has to put the service user at the heart of everything they do in the service provided,  which promotes equality, value, diversity and respect. People in the health and social care setting use 5 words to improve the care they give to and individual and to ensure everyone gets the same care. The

Unit 8 Promote And Implement Health And Safety In Health And Social Care Health And Social Care Qcf Unit

1945 words - 8 pages Unit 8: Promote and Implement Health and Safety in Health and Social Care 1.1 Identify legislation relating to health and safety in a health or social-care setting. • Health & Safety at Work Act 1974 • The Management of Health and Safety at Work Regulations 1999 • The Manual Handling Operations Regulations 1992 • Control Of Substances Hazardous to Health (COSHH) - 2002 • Reporting of Injuries, Diseases and Dangerous Occurrences Regulations

Politics And Law On Tobacco Products Plymoouth State University Essay

813 words - 4 pages , given that tobacco can be purchased at this age. Smoking cigarettes and tobacco products alone cause almost five times as many deaths per year than drinking. An estimated 480,000 people die a year from tobacco such as cigarettes while consumption of alcohol is around 88,000 deaths per year. There is no sense in a product which kills more people a year to be legal for purchase and consumption but making a beverage illegal which has proven to