Committee for a Responsible Federal Budget
Jessica Barker
According to “Committee for a Responsible Federal Budget” (2021), “As part of your health system’s cost-cutting approach, standardize and bundle contracts. Glance at the flow of patients. Look closely at the employees”.
Healthcare systems are concentrating on cost control. Healthcare executives are attempting to achieve financial certainty in an industry that is anything but predictable.
Furthermore, the delicate balance between cost and providing excellent patient experiences must be maintained. While examining cost-cutting alternatives, cost-cutting measures must emphasize the health of patients.
Consumers, employers, state and federal policymakers, and the media have all been discussing the cost of health and health care in the United States for years.
In the United States, cost-cutting measures are characterized by a mix of government regulation and market-based competition. When cost-control methods aren’t comprehensive, the major reason for failure is cost shifting across programs and/or sectors. Some health-care cost-cutting measures have medical effects, some of which are evident and others which are unanticipated. Health programs, for example, may limit coverage, transfer costs to participants, or phase out services for certain groups during financial problems.
Reference:
Committee for a Responsible Federal Budget. (2021). Three Ways to Lower Health Care Costs. https://www.crfb.org/blogs/three-ways-lower-health-care-costs
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