Healthcare Financial Management

Paper Summary:

The paper discusses how hospitals are faced with a revenue crisis, because programs such as Medicare and Medicaid are running out of money and the number of patients supported by these programs is steadily increasing. The paper considers the high volume of Medicare and Medicaid fraud and new government anti-fraud regulations that are predicted to have a positive impact for revenue streams for hospitals in the future. The paper concludes that without some necessary reforms, the financial state of the medical profession still remains threatened.

Outline:
The Effect of Medicare Trends on Healthcare Providers
Protection of Revenue Streams for Hospitals
Conclusion

From the Paper:

"In the past few decades, new medical advancements and technological progress have led to improvements in human health, causing a rise in the average age of the population. The national government insurance program that covers nearly 41 million seniors and disabled citizens, Medicare, has raised many substantial concerns concerning its' state of financial crisis. In just 10 years, one of the program's two trust funds will be paying out more than it takes in (National Center for Policy Analysis, 2004)."

Sample of Sources Used:

• Antos, Joseph. (1997). The Magnitude of the Financial Crisis in Medicare. 1997 Subcommittee on Health Care, United States Senate.
• ASCP. (2005). Hospital Based Long-Term Facilities and Medicare Part D. Retrieved November 17, 2007, from http://www.ascp.com/medicarerx.
• Bennett, M. (2007). Criminal Prosecutions for Medicare and Medicaid Fraud. Retrieved November 14, 2007, from http://www.aapsonline.org/fraud/fraud.htm.
• Capps, L. (2000). L/HHS Appropriations and Medicare, Medicaid and SCHIP Beneficiary Improvement and Protection Act: Massachusetts Impact. Retrieved November 20, 2007 from http://kennedy.senate.gov/newsroom/transcript.cfm?id=4321f36f-1dfc-47d6-82a0- c95e3ad4eefc.
• National Center for Policy Analysis (2001). Fraud in Medicare. Retrieved November 14, 2007, from http://www.ncpa.org/health/pdh5.html.

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