Healthcare

Paper Summary:

This paper expands on the relationship that exists inextricably between the length of the patient stay in hospital or other medical institution and the type of insurance held by the individual patient. It discusses an idea for an effective prepayment system for healthcare. It also reviews literature about the conflict of the interaction between the business, management and financial realm within the institution affected by the diagnostic-related groups and the professional medical staff. The author offers a personal opinion on the importance of the balance of the interrelation of the financial paradigm and healthcare giver in order to create a successful result for the patient.

Abstract
Objective
Introduction
Length of Inpatient Stays Found Influenced by Insurance Type
Business Management versus Medical Profession
Clustering of Patients in Industrialized Healthcare
Financial Schemes and Endeavors
From Medical Economics to Health Economics
Discussion
Summarization
Importance of this Study
References

From the Paper:

"The DRGs were an attempt by the medical professionals in an effort of standardization of medical practice. DRGs would allow the hospital to operate on a productive basis and yet the DRGs were not a commodity that could be traded and was not a product that could be stickered with a price tag. The result was the clustering of patients into groupings in order to utilize the hospital's resources more effectively and efficiently. The presumption of industrial engineers did not take into consideration that patients were consumers and had choices they could make between and among the products, services, and healthcare. The intention of the DRGs was not for a market that was administered in healthcare or for the purpose of price competition buildup between different providers of healthcare. However the understanding is that DRGs are a mechanism for fostering competitive forces in a quasi-market for healthcare."

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