Hospital Trends in The Current Economic Environment Essay

Hospital Trends 1. How is the current economic environment affecting hospitals? According to the article, â€Å"The Economic Downturn and Its Impact on Hospitals†, the current economic environment is affecting hospitals and other heath care facilities in a number of ways. The most common issue relates to inability of the hospitals to obtain and secure relevant financing that enables health institutions to meet their daily obligations. Since most payments in hospitals lags behind the amount expected to deliver health care, most of the times hospitals are forced to borrow funds from financial institutions to meet their operating expenses. With this issue of economic downturn, borrowing funds from financial institutions has become very†¦show more content†¦Hospitals need to analyze their services and health programs, and only engage in activities which are beneficial and cost effective to them, taking into consideration the wellbeing of the patients (TREADWATCH, 2009). The current Hospi tals goals should be changed to focus on making health care affordable to all, by categorically making their patients to adopt government insurance programs, which are more stable and with fewer risks of problems associated with economic down turn. Hospitals should also adopt effective management systems, which would make them more competent in managing their debts and cash. The health care institutions should establish other money generating programs in order to reduce their over dependence on loans from banks. Health is something important for a given nation, and the entire globe for that matter. This means that it would be necessary that a proper method for financing healthcare be formulated towards ensuring there is a proper health structure. This is the main reason why innovative finance comes in as a very good approach towards effective health .Innovative financing is a modern approach that has been noted to come with a number of possibilities towards increasing overall econom ic development while bringing in positive possibilities which can effectively accelerate all the measures and processes put in place towards poverty reduction (Primer, 2007). 3. What similarities andShow MoreRelatedHealthcare Industry in the United States1315 Words   |  5 Pagesthe healthcare industry in United States of America will go through three stages of evolution. Already through the first stage, this industry will restructure within an atmosphere marked by ambiguity in the regulatory environment, sustained scientific advancement, global economics and digital transformation. By 2030, the health care industry will be drastically different from today and ever more complexly tied to the global health market and its population. 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