Financial Management for Nurses

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FinancialManagement for Nurses

Increasedcost of health care services

Overthe last few decades, there have been unprecedented changes in thehealth care industry. Some of these changes have resulted into one ofthe most important challenges facing patients today. Although thereare other challenges, increased cost of health care services is oneof the most important problems in the health care industry. This isbecause it has a direct impact on the accessibility of quality healthcare. Over the last few decades, the health care industry hasexperienced introduction of advanced medical technologies. Thesetechnologies have aided in the diagnosis and treatment of medicalconditions as well as management of health care facilities. Theintroduction of these technologies in the health care industry hasincreased the cost of health care in the United States. Additionally,the aging population which has resulted into increased demand forhealth care services, increasing the cost of medical services (Brill,2015). Other factors that have increased the cost of medical careservices includes malpractices and misuse of resources, increasedcost of administration in health care and increased cost of living.There are numerous attempts by the government and relevantauthorities to cushion the patient with increased cost of healthcare. This includes increasing the number of American covered bypublic and private health insurance programs. Health care cost is animportant budgetary item in the United States. This is because thegovernment has the responsibility of providing health care servicesthrough various programs such as Medicare, Medicaid, subsidies andrelated spending and children health programs. Therefore, theincreased cost of has huge budgetary implications. Recently, therehas been a rapid increased in federal spending on health care, partlydue to an increase in medical costs per enrollee in the public healthcare programs. As more Americans become eligible for public programsdue to an aging population, the increased health care costs will havemore significant budgetary impacts (Brill, 2015).

Reference

Brill,S. (2015). America`sbitter pill: money, politics, backroom deals, and the fight to fixour broken healthcare system.New York: Random House.