Write a 700- to 1,050-word paper in which you:

Analyze a financial and economic issue in the health care industry.
Choose a current financial or economic issue in the health care industry. Consider the following:
What are the economic trends of the health care payment system?
What are the supply and demand challenges for health care services?
Why are costs increasing in the health care system?
What regulatory issues are affecting, or will affect, the health care industry?
Analyze the issue and its financial impact on the health care industry.
Provide recommendations for improving the issue. Consider current strategies being used or presented for improving the issue.
Include what you believe would be the outcome of these recommendations if implemented.
Running Head: ECONOMIC TRENDS
1
Economic Trends
HCS/385
Tiara Robinson
04/05/2020
ECONOMIC TRENDS
Economic Trend
Online payment
options
Rapid technology
advancements
2
Compliance and Ethical Issues
References
• Online payment options offer patients
Vogenberg, F. R.,
convenience, although they bring
& Santilli, J.
with them several security concerns.
(2019). Key
• Web portals make paying for
Trends in
healthcare costs easier and simpler
Healthcare for
for patients.
2020 and Beyond.
• Online payment platforms have
American Health
several laws and standards governing
& Drug Benefits,
them, which further cause
12(7), 348.
compliance issues and risks.
• These standards and regulations are
concerned with payment and patient
data security when collecting
payments.
• HIPAA and General Data Protection
Regulations are some examples of
regulatory requirements with which
healthcare organizations must ensure
compliance.
•
•
•
•
•
•
The rapid technology advancement
and innovations cause a strain on
healthcare institutions to stay updated
and continuously implement current
technology techniques.
New advances in genetically
modified organisms and genetic
engineering bring with them several
ethical concerns and are also costly.
The major challenge is balancing
safety and quality with the efficiency
of new and advanced techniques.
The future in robotics, artificial
intelligence, and machine learning
offers endless possibilities for the
healthcare industry, including
lowered care costs and enhanced
outcomes.
Electronic health records now enable
healthcare to access required
information and data quickly from
ranging devices.
However, these possibilities from
technology advancements bring with
them several ethical issues in care
Baum, F. (2016). The new
public health (No.
Ed. 4). Oxford
University Press.
ECONOMIC TRENDS
Government laws
and regulations
3
•
•
•
•
•
provision and open up for data breach
risks that can be life-threatening.
The affordable care act is getting
Uberoi, N., Finegold, K.,
weaker as tax reforms aimed at
& Gee, E. (2016).
ending the individual, which
Health insurance
destabilizes and cutes the program
coverage and the
further.
Affordable Care
The new tax reforms require full
Act, 2010-2016.
updates, and audits of financial
Washington (DC):
reporting systems are also crucial for
Department of
a healthcare organization to keep up
Health and Human
with to avoid legal complications.
Services, Office of
The change in reimbursement models
the Assistant
can cause an increase in uninsured
Secretary for
patients while creating other revenue
Planning and
risks that cause an organization to
Evaluation.
change plans and policies to
minimize its impact.
Healthcare organizations now focus
more on compliance with standards
and laws away from conventional
patient care models.
There are several uncertainties in
healthcare laws and regulations
which requires healthcare institutions
to stay prepared to overhaul or update
existing procedures and policies in
short periods to maintain compliance,
implement new requirements, and
also to adapt negative impacts of a
destabilized affordable care act.
ECONOMIC TRENDS
4
Reference
Baum, F. (2016). The new public health (No. Ed. 4). Oxford University Press.
Uberoi, N., Finegold, K., & Gee, E. (2016). Health insurance coverage and the Affordable
Care Act,
2010-2016. Washington (DC): Department of Health and Human
Services, Office of the
Assistant Secretary for Planning and Evaluation.
Vogenberg, F. R., & Santilli, J. (2019). Key Trends in Healthcare for 2020 and Beyond.
American Health & Drug Benefits, 12(7), 348.

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