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- The value of healthcare addresses things that people hold dear to their hearts like affordable healthcare, efficiency in service delivery, and customer service
- Heath insurance providers can make healthcare premiums affordable to many citizens only if the cost of healthcare is lowered or subsidized by the state
- You should choose a health insurance provider that provides a list of benefits that come with the healthcare plan
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The term “value” in healthcare may seem simple and straightforward, but it’s more complex and subtle as you may think. Many stakeholders consider things they hold dear as value in healthcare. It may range from improved patient outcomes, coordination of health services, efficiencies, patient-centeredness, and so much more.
The critical question is on whether “value” will spur the necessary changes that the healthcare sector desperately desires. A closer look at value exposes the daunting challenges encountered in the healthcare systems but also confirms its massive appeal to the stakeholders in healthcare.
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How to Define Value in Healthcare
The U.S. healthcare system is quickly transitioning from pay-for-service to pay-for-performance health care system. The central aspect of the new system is the value of healthcare.
Under the new value-based paradigm in the health system, many organizations have made strategic plans to serve patients and the communities in an efficient manner. This has led to the formation of numerous private sector plans that seek to provide value in the healthcare sector.
Why Quality Healthcare?
The global landscape of healthcare is changing and several people are now living a longer healthier life thanks to revitalized healthcare provision. More children in the U.S. are not enrolled in primary schools across the nation due to lower infant mortality rates.
Healthcare insurance covers provided by government-subsidized policies and privately held plans through third-party administrators have enabled millions of Americans to access affordable healthcare.
Investment in Healthcare Saves Lives and Money
Investments in appropriate healthcare solutions can make measurable impacts for a sustainable future. A healthy population does a lot to the nation than just mere survival. If children in the poor neighborhoods, for example, are healthy, they will focus more on school work and curriculum activities to shape their future careers.
The Evidence on Affordability
As health care costs hit the skyrocketing levels, many individuals and families in the U.S. have felt the pinch when it comes to accessing quality healthcare. For those with healthcare insurance covers, the amounts premiums, deductibles, copayments, and other cost-sharing costs associated with most healthcare plans have been on the rise.
Nearly 47 million U.S. citizens lack health insurance covers and they are worst affected by the issue of affordability.
Most of these people are workers with low income or at least a member of their family is a worker and their employer does not provide health insurance.
Principles for Assuring Affordable Health Insurance
Assuring every American affordable health insurance coverage is the most fundamental aim of healthcare reforms. Families can only be economically secure when they can access quality healthcare whenever one of them falls ill.
Many dreams have been shuttered due to endless financial struggles to settle medical bills following terminal illnesses or other health complications. With health insurance, such families would continue leading their normal lives as the insurance company covers for the bills.
The affordability concept of healthcare is quite straightforward, but a true healthcare reform doesn’t stop at the affordability of healthcare insurance, it needs to address even the affordability of healthcare service provision.
As much as the insurance firms want to make their rates affordable and accommodating to all citizens, the cost of healthcare has hit the roofs tops with no sign of coming down anytime soon.
How to Keep Healthcare Costs Low
There are several attempts by the states to reform the healthcare programs to make healthcare insurance affordable to all Americans. Here are a few takeaways that will improve the value of healthcare in the nation:
– Keep Your Eyes on Overspending
Affordability doesn’t stop at premium contributions but goes to deductibles, cost-sharing agreements, and expenditures in healthcare. If you’re tempted to make cost sharing high and minimize your premiums, you may end up grappling with huge bills especially if a member of your family suffers from chronic illnesses.
Avoid unmanageable healthcare expenses by balancing your options and paying adequate premiums to cater for your needs.
– Benefits Matter
health insurance should work for individuals whenever they fall sick. Any insurance company that leaves you at your point of need is not worth signing up for. A clearly defined set of benefits offered by the insurance firm should determine your reasons for joining one.
If an insurance company doesn’t list benefits they provide to their members when sick, it doesn’t offer the much needed financial protection.
– Affordability Depends on Income
Health insurance premiums should be set based on the financial situation of the family.
Low-income families should be charged less in premiums and allowed lower deductibles since they have limited ability to settle the unpredictable costs associated with healthcare.
– Insurance Firms Should Stop Discriminating the Sick
Many insurance companies don’t accept to insure people with pre-existing medical conditions; and those who do charge exorbitant amounts that are quite unaffordable.
As long as insurers deny coverage, charge high rates, and limit healthcare benefits to people due to age or health status, the affordability will never improve. Meaningful health reforms must address such issues and ensure that every citizen can afford health insurance.
Conclusion
They say that a healthy nation is a wealthy nation. It is, therefore, critical for every nation to address the value of healthcare since accidents are bound to happen, people will fall ill, and the hospitals must react with speed to save lives without worrying about who will settle the bills.
Affordable health insurance will ensure that every American citizen can afford quality healthcare. The aspirations and desires of many people can only come to life when they enjoy long, healthy lives.
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[su_spoiler title=”References:” icon=”caret-square” style=”fancy” open=”yes”]
- https://hbr.org/2013/09/getting-real-about-health-care-value
- http://www.nap.edu/openbook.php?record_id=12566
- http://www.nejm.org/doi/full/10.1056/NEJMp1011024
- http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2585909/
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