NR533 week 2.2

The case of Jim is a great example of how value based reimbursement structures are driving improvements in healthcare.
With fee for service, or volume based reimbursement, the hospital will receive reimbursement for providing care on two separate admissions, despite the fact that the second admission could possibly have been avoided.  Additionally, with fee for service, there is  no incentive to return the patient to the community or recover health in a timely manner.  Physicians and hospitals receive more benefit from greater length of stay and additional tests and consults.  With volume based reimbursement, there is no incentive to reduce costs or improve quality which negatively impacts patient satisfaction.   While this form of reimbursement provides maximum profits for providers, it results in epidemic unaffordable and inaccessible healthcare for populations. 
With value based reimbursement, the hospital will receive a flat fee for Jim’s diagnosis regardless of how care is provided.  The hospital will also be penalized for readmission additionally reducing reimbursement.  In the case of value based reimbursement, the hospital is incentivized to diagnose, treat, and recover the patient as quickly and efficiently as possible.  This reduces the chances of imposed unnecessary costs to the patient and improves the likelihood of quality care and thereby patient satisfaction, which is known as the Triple Aim (Martin, 2017).
With nearly 50% of the payer mix at my institution coming from government funded healthcare, value based reimbursement has a significant impact on how we deliver care with a large focus on quality and cost reduction improvement strategies.  One of the ways our hospital has tried to reduce cost is through merger.  Advocate merged with Aurora Healthcare last year and the large volume of providers has allowed us to negotiate lower contracts with vendors and suppliers.  Additionally, they are reducing costs by partnering with physician groups to provide services to patients and employees at reduced costs under a large HMO.

superadmin (28431)
New York University

Order Now to Get The Answer

Order Now

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Have a homework question? Get help from verified tutors now!

Are you looking for Assignment Help save 10% with this code GEEKS10