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Final Project Milestone Two: Policy Research

Final Project Milestone Two: Policy Research

University of Colorado Hospital

Lesly  Ovilmar

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Southern New Hampshire University

May 16, 2017

Policy Research

University of Colorado Hospital

According to the final project milestone one, “the University of Colorado Hospital has a care innovation center and the Colorado University School of medicine with extensive clinical capacity and deep expertise of service provider as well as qualified researcher. This center enables the hospital to develop test and at the same time put transformative solutions to health care” (Hunger et al. 2005). The center is welcome innovators to join the in the quest to obtain good health care resolution for both the hospital and world at large.

The financial wellbeing in healthcare market means that the hospital can allocate its resources and analyze the market price which reflects on the economic value of the used resources in the care of the patient. In order to make this a reality, the University of Colorado Hospital allocates and invests some money in various programs such as research, facilities, subsidies to the community they serve to enabling them to attain major goals and objectives.

The economic principles are important when applied in health care reason being that these principles are used in the analysis of health and healthcare issues in cases of health service research. Why these principles are used is to observe the economic resources by limiting the quantity at the point of use. In term of the economic growth, the University of Colorado is advancing the economy, health, and culture of Colorado and beyond.  On the state standpoint, this organization continues to be a major locomotive on the state economic growth by creating tones of jobs, attracting millions in research dollars, and contributing more than $ 3 billion to the Colorado economy.  Because of this tremendous growth, the state of Colorado is ranking 48th in the nation per capita state funding for higher education.

The health care organization uses strategic planning to create documents which indicate the way they are planning to make progress regarding the current situations to the desired future solutions. The strategies can be used in long term planning in increasing professional skills competition whereby the resident physicians are able to access and update their knowledge by doing this or that type of training. They are ensuring that their staff is and will be highly qualified and trained professionals within the large cities.

The strategic planning for nonprofit can be identified in a healthcare by noting the companies’ strengths, weaknesses, opportunities and the threat which they are likely to face in business. For profits the healthcare system can fundamentally reshape their market and governance structures in order to make profits and to contribute to the good of the public. For them to achieve this they should be able to harness innovation for the good of the public and their patients by creating new innovation in order to respond to the patients’ needs and social expectations, value of creating and sustainable growth.

In the case of non-profit organization they will ensure that they provide cheap and quality services whereby the patient will be charged a moderate fee for the service provided. They will create value so as to remain in the market for a longer time.

Practically, the University of Colorado Hospital combines the strengths of the region’s best academic and community hospitals, along with access to clinics throughout the Front Range, to improve the lives of patients and their families in Colorado and beyond.  As a non-profit organization, its strategic plan is based on the University’s priorities which is identified their mission statement that’s included diverse teaching and learning community, and applies knowledge to improve the health and well-being of Colorado and the world. One of the key strategic plans that have been developed is to enhance the university’s world-class health care programs to achieve recognition as one of the best academic health centers in the nation.

For profit healthcare organization they will be spending most of their time fighting on how to retain their patients from being lured away by their competitors so their cost of delivery will continue to rise while the insurance will be holding the line on the reimbursement or at time reducing them.

The economic difference for profit and non-profit organization in terms of policies and legislation are as followed. For profit organization they will tax their patients in different ways depending on the healthcare system, while for the non-profit organization it will be handle by being offered with tax incentives from their donors so the patients are no taxed in any form. The hybrid organizations in the case of the nonprofit organizations will need to stabilize their income and for the case of profit healthcare they will be in apposition to give back something to their community. And that’s what happening in the University of Colorado Hospital.
The other way in which the hospital has proven not to rely on profit making is through innovation to improve the value of service they offer. The facility has gone through numerous upheavals in the past one fifty years and this has changed the way they view as well as treat diseases. For example, the germ theory gave room for expansion of the health care and on the other hand discovery of antibiotic penicillin promote the utilization of medicine in the treatment of diseases. The university of Colorado hospital is working in close ally with academic research as well as clinical care system to meet the seismic shift of innovation for vision 2020.

The relationship between economic policy and disparities in care is that in both cases education has been considered to be the key of health inequality, policies which were used to support early childhood education in health education. They have helped to increase incomes by providing alternative means of purchasing health care and also to distribute incomes within countries and states which had cases of high   mortality rate.
Research showed that in year of 2009 alone, health disparities among Africans and Hispanics cost private insurers and additional $5.1 billion, which fall eventually to higher insurance rates in term of businesses. In order to have a good stability in the economic, eradicating health care disparities is the right and intelligent things into practice.  Health disparities are forcing a sudden charge on the economy and a huge burden on health related issues, which is slowing the efficiency of the countries’ citizens.

The economic policy differs with disparities care in the treatment and diagnosis of chronic diseases this is seen in racial and ethnic minorities who tend to get sub standardized quality of care than the nonminority’s. The disparities cares are faced with the risk of being uninsured and lack of access to health care this mostly affect people of color and low income group. On the other hand, economic policies that have shown massive impact on this disparity are creation of job opportunities and setting up of insurance policies.  Creation of job opportunities has raised the income levels increasing accessibility while insurance policies have made care affordable.

In term of the impact of legislative changes on healthcare economic policy, the private insurers, federal and state initiatives are also affected with the technology which has caused the reallocation of fiscal resources in the healthcare market. The Medicare Modernization Act had established a medical therapy management plan which had enhanced the Affordable Care Act regulations in the reimbursement of health care services. The legislative and the judicial has influenced the healthcare system by ensuring that individuals contribute to the expansion of healthcare system where by the state had allowed the citizens to purchase health insurance and failure to do so they will be required to pay penalties. The Affordable Care Act (Obama care) legislations whose main emphasis was to improving patient care through encouraging American citizens to take up insurance schemes. Insurance schemes in most instances have eased the access to healthcare for most individuals. Political factors mainly focus on the stability of a nation as well as how federal administration affects this sector.  Developing nations are more susceptible to this principle since they may be faced by factors such as violence or ethnic wars which affect aspects of healthcare such as the delivery of medical supplies (Bernanke, Antonovics & Frank, 2015).

The disparities of care which are factored in healthcare strategic planning has helped increasing opportunities in improving health through expanding health care coverage and also supporting healthcare forms in healthcare deliveries. For example the Medicaid insurance has served a diverse population with health problems for a long period of time by addressing social determinants of health delivery and payment initiatives. Social determinants have an impact on the health outcomes in terms of conditions where people have been born, grow, lived and worked. This factors such as education, employment or social support network has helped in the access in healthcare.
“Health disparities adversely affect groups of people who have systematically experienced greater social and/or economic obstacles to health and/or a clean environment based on their racial or ethnic group; religion; socioeconomic status; gender; age; mental health; cognitive, sensory, or physical disability; sexual orientation or gender identity; geographic location; or other characteristics historically linked to discrimination or exclusion”(National Partnership for Action, 2008). 
The University of Colorado Hospital understands the problems that would cause by the health disparities to the community, that is why they are accentuating on reducing the high rate of mortality and morbidity suffered by the poor and require immediate interventions that can achieve the greatest improvement in health. This is another words one of the key priorities.

References

♦ Bernanke, B., Antonovics, K., & Frank, R. (2015). Principles of macroeconomics. McGraw-Hill Higher Education.

♦ Cowell, F. A. (2006). Microeconomics: principles and analysis. OUP Catalogue.

♦University of Colorado, Economic Impact (Bliss, T., 2017). Retrieved from:

http://www.ucdenver.edu

♦Global Health and Health Disparities (Dr. Stallones, L., 2017). Retrieved from: 

♦ Ahhqi. (2014). The future of home health care projects. Retrieved from: http://www.ahhqi.org/images/pdf/future-whitepaper.pdf

♦ National Partnership for Action (NPA) to End Health Disparities (2014).  Retrieved from: 

http://www.ucdenver.edu/research/CCTSI/community- engagement/resources/Documents/        NationalPartnershipforActiontoEndHealthDisparities

 
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