The
Importance of Economics for Health Care Leaders. Prior to engaging in this discussion,
be sure to review the Chapters 1 and 2 in the text as well as any relevant
Instructor Guidance. It is suggested that you also review the recommended
articles to glean any helpful information. In the present paradigm, it has
become evident that operational leaders and strategic leaders in health care
must be able to appraise how economics impacts health care in the United
States. Furthermore, it is critical successful leaders to possess an
understanding of the variables and nuances that shape how supply and demand in
this heavily regulated industry so they may observe trends and opportunities
that lead to a functional organizational system.
Imagine
that you are a manager running a unit in a rehabilitation center. Up to this
point, your primary population of payers has been elderly patients who come
into the center for physical therapy. Recently, there has been a demographic
shift in the community. A large number of your primary population has moved out
of the area or died, which has caused a shift in your revenues. You have been
tasked by your director to illustrate the cost and revenue numbers relative to
insurance payouts to ensure that your cost does not exceed your revenue.
Drawing on your current professional expertise and understanding drawn from the
required resources for this week, create an initial post in which you
communicate how the potential payer mix relates economically to changing
demographics in your given community. What potential solutions would you
suggest to your director that might overcome the demographic shift? Analyze
economic theories that are germane to your provision of services and identify
one theory that might apply to this specific situation.
