Healthcare clinic and health insurance

In this case, the small copayments on selected services enable delivery on the routine types of care which are typically addressed in full (Shanks, 2016). 2) Types of effective cost- sharing in health insurance The copayments are never of extremely high costs for paying, therefore, I believe aspects of copayments are the most effective. In addition, the total amount being paid vary with coinsurance and deductibles at hand. When visiting a physician’s office, I would rather have an amount that is secured for making payments. 3) Health insurance benefits • Comprehensive Pros: Encompassed in medical testing, medical equipment, outpatient surgery, the patient stays, and therapies. Besides, this kind of health insurance plan blends the features plans of PPO (Preferred provider organization), and HMO (Health Maintenance).

However, only a small share of market insurance is represented by POS since most policyholders prefer PPO and HMO plans (Polsky & Weiner, 2015). Based on chapter 10 1) Healthcare care finance Health care finance refers to the number of mobilized funds through the initiative of an employer for the aim of quality healthcare provision to all employees. All managers at all levels are affected by healthcare finance, this is because they are expected to investigate different issues that are related to healthcare services within the organization’s daily financial operations as well as establishing plans for a financial bearing (Baker et al. 2) Inventory management techniques • FIFO: This entails taking out of the first item which was initially put in inventory first as an inventory containing older items is produced.

With this type of health reimbursement plan, a patient gets treatment from a provider before submission of an itemized bill which details all the aspects of rendered services to an insurance company. In turn, the bill gets approval for treatment payment from the insurance company as the care providers to obtain full payment. 4) Costs Variable cost: refers to an organization’s costs that are linked to the number of services and goods an organization produces. A variable cost of an organization changes (increases/decreases) with the volume of production. Examples of variable costs include commissions, utility costs, and raw materials cost (Baker et al. • Cash Flow Budget: The budget provides a means of tracking how cash flows out and in of a business within a given time period.

6) Working capital Management of efficient working capital enables healthcare centres to have a reduction on their current holdings of assets like receivable accounts and inventory that doesn’t bring any interest income and need funding with a debt of short term basis (Etiennot et al. The working capital for the hospital is different because: • Research. As opposed to other industries, the aspect of research constitutes an important element of a healthcare set-up. • Secondly, machines and updated technology is important for healthcare • The main objective of the healthcare sector is based on contribution and non-profit donation through proper approaches to marketing. , Baker, R. W. , & Dworkin, N. R. Health care finance. With respect to the patient population, one of the critical aspect observed is the increasing number of families.

In addition, a major section of those employed lacked insurance cover from most of the industries where they are employed as seasonal workers. In other words, the organization’s challenges and inability to adequately cater to this community is replicated by the lack of insurance cover which is rapidly becoming problematic. Due to inaccessibility to insurance cover, the business no longer meets community need as it did before. (Shanks, 2016). III Executives Decisions Similarly, the aspects of considering the increased numbers of patients who do not have access to health care insurance are of greater importance for the clinic fraternity. As much as the cost might be extremely high, the clinic stands a chance of applying for federal grants which will enable its initiative of helping patients in vulnerable society.