om

Assessment 3: Business Case for Change

t.c
Student Name

en
Capella University

m
Course Name
gn Prof Name

Nov 8, 2023
si
As
ss
la
eC
in
nl
O

Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing?
Call Us Now (612) 234-7670
Email Us Contact@OnlineClassAssignment.com
Website: OnlineClassAssignment.com
For Free MSN Sample: OnlineClassAssignment.com/free-Sample
The Healthcare Economic Challenge and its Potential
Ramifications
The issue of healthcare economics is a critical concern affecting individuals, healthcare
providers, organizations, and communities at large. The absence of affordable healthcare
insurance has profound implications for people's lives, extending beyond the financial burden to
encompass broader aspects of health and productivity (McKinsey, 2022).

om
On an individual level, the lack of proper insurance coverage poses risks of financial strain and
limited access to healthcare services. For organizations, this issue may result in heightened
healthcare costs and decreased productivity, as employees miss work due to illness or resort to

t.c
costly emergency care. The community, lacking preventive care, may witness the spread of
infectious diseases, diminished economic productivity, and increased healthcare expenses.

en
Individuals without adequate insurance coverage may face financial strain and limited
healthcare access in various ways (Peng & Zhu, 2021). For instance, the absence of insurance
requires individuals to cover healthcare expenses out of pocket, a particularly costly scenario for

m
those with ongoing care needs or chronic conditions. Consequently, individuals might postpone
or forgo essential medical care, potentially leading to more severe health issues down the line
gn
(Peng & Zhu, 2021).
si
Organizations may bear the brunt of providing healthcare services to uninsured individuals,
resulting in elevated healthcare costs and potentially higher employee insurance premiums
As

(Karpman et al., 2021). Furthermore, reduced productivity becomes a notable concern, as

employees lacking insurance coverage are more prone to missing work due to illness or
resorting to expensive emergency care, thereby negatively impacting organizational productivity.
ss

The World Health Organization (WHO) emphasizes the undeniable impact of the healthcare
la

economic issue and underscores the need for action to enhance access to essential healthcare
services, reduce costs, and bolster productivity through the provision of affordable healthcare
eC

insurance (WHO, 2019). Thus, concerted efforts are imperative to ensure universal access to
affordable healthcare coverage, irrespective of income or social status.
in

Feasibility and Cost-Benefit Analysis

nl

Addressing the economic issue of accessible and affordable healthcare insurance requires a
O

thorough consideration of feasibility and a cost-benefit analysis.

Feasibility considerations involve assessing the practicality of implementing affordable

healthcare insurance, considering factors like the prevailing political climate, economic
conditions, and resource availability (Illinois Government, 2021). The Affordable Care Act (ACA)
provides a case study, revealing that despite being designed to expand healthcare insurance
Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing?
Call Us Now (612) 234-7670
Email Us Contact@OnlineClassAssignment.com
Website: OnlineClassAssignment.com
For Free MSN Sample: OnlineClassAssignment.com/free-Sample
access, its implementation faced political opposition and challenges in some states (Campbell &
Shore-Sheppard, 2020).

Considering the cost-benefit perspective, implementing affordable healthcare insurance

demands a substantial initial investment, but the long-term benefits include reduced healthcare
costs and improved health outcomes (King, 2020). Research indicates that the ACA's coverage
provisions led to a one-third reduction in the annual cost of uncompensated care for uninsured
individuals, demonstrating the potential for long-term cost savings (Karpman et al., 2021).
Moreover, the ACA contributed to increased preventive care services, further supporting the

om
case for cost-effective healthcare solutions.

Mitigating Risks to Financial Security

t.c
To mitigate financial risks faced by healthcare organizations, three potential strategies can be
adopted:

en
1. Improve Cost Management: Healthcare organizations can enhance cost management

m
by negotiating lower prices for medical services and supplies, as well as by improving
the efficiency of healthcare delivery. This can alleviate financial strain and enhance
gn
organizational sustainability (Sturmberg & Bircher, 2019).
2. Diversify Revenue Streams: Exploring alternative revenue sources, such as grants or
partnerships with other healthcare providers, can provide a more stable financial
si
foundation and reduce dependence on fee-for-service models (Kosala & Heengama,
As

2019).
3. Implement Risk Management Strategies: Developing and implementing risk
management strategies, including contingency plans for unexpected events such as
ss

pandemics or natural disasters, can help organizations navigate financial risks more
effectively (Auditboard, 2021).
la

Evidence-Based Research to Support Strategies

eC

Evidence-based research and scholarly sources support these proposed strategies. For
instance, studies published in the Journal of Healthcare Finance and the Journal of Healthcare
in

Management affirm the efficacy of cost management strategies and revenue diversification in
improving financial performance and sustainability in healthcare organizations (Truong, 2022;
nl

Carney, 2020). Additionally, the Agency for Healthcare Research and Quality offers guidance on
risk management strategies in healthcare organizations (Sturmberg & Bircher, 2019).
O

In conclusion, addressing the economic challenge of affordable healthcare insurance

necessitates a comprehensive approach, considering feasibility, cost-benefit analyses, and risk
mitigation strategies. Evidence-based research and scholarly sources provide valuable insights

Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing?
Call Us Now (612) 234-7670
Email Us Contact@OnlineClassAssignment.com
Website: OnlineClassAssignment.com
For Free MSN Sample: OnlineClassAssignment.com/free-Sample
to inform these strategies, contributing to the development of effective and sustainable
solutions.

Affordable Healthcare Insurance Solutions

Several changes and solutions can be implemented to address the economic issue of accessing
affordable healthcare insurance:

1. Expanding Medicaid: Extending Medicaid coverage to include individuals and families

om
currently ineligible has proven effective in improving access to healthcare services,
reducing costs, and enhancing health outcomes for low-income populations (Graves et
al., 2020).
2. Implementing a Public Option: Introducing a public option for healthcare insurance

t.c
allows individuals to purchase affordable plans through a government-run program. This
could potentially enhance competition, improve access to affordable insurance, and

en
reduce overall healthcare costs (Rapfogel & Calsyn, 2021).
3. Addressing Prescription Drug Costs: Tackling the high cost of prescription drugs is
another solution with potential benefits, including reduced healthcare costs and

m
improved access to essential medications. This can be achieved through measures such
gn
as price transparency, importing lower-cost drugs, and regulating pharmaceutical
companies (KFF, 2019).
si
Implementation of the Provided Solution and Potential Benefits
As

Implementing these solutions stands to significantly benefit organizations, colleagues, and the
community at large. For organizations, these solutions can contribute to reduced healthcare
ss

costs, enhanced employee health and productivity, and improved financial stability. Colleagues
and the community stand to gain improved access to essential healthcare services, reduced
financial strain, and overall better health outcomes.
la

In conclusion, solutions like expanding Medicaid, implementing a public option, and addressing
eC

prescription drug costs have the potential to alleviate the economic challenge of accessing
affordable healthcare insurance. These solutions can bring about substantial benefits for
organizations, colleagues, and the community by reducing healthcare costs, improving access
in

to essential healthcare services, and enhancing overall health outcomes. Evidence-based

nl

research and scholarly sources offer valuable insights to guide the successful implementation of
these solutions.
O

Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing?
Call Us Now (612) 234-7670
Email Us Contact@OnlineClassAssignment.com
Website: OnlineClassAssignment.com
For Free MSN Sample: OnlineClassAssignment.com/free-Sample
Solutions Addressing Cultural and Ethical Considerations
Proposing a solution to the economic issue of accessing affordable healthcare insurance
requires ensuring cultural sensitivity, ethical considerations, and equity within the community
and healthcare setting.

Cultural sensitivity is paramount, considering the variations in healthcare practices and beliefs
across different cultures and communities (Georgetown University, 2019). For example, when
introducing a public option, it is crucial to consider how the program is communicated and

om
marketed to ensure accessibility and cultural appropriateness.

Ethical considerations play a crucial role in the implementation of any healthcare solution. The

t.c
proposed solution mustn't unfairly disadvantage specific groups within the community. When
expanding Medicaid, for instance, it is essential to assess how it impacts vulnerable
populations, such as those with disabilities or chronic health conditions. Moreover, ethical

en
considerations should extend to areas like patient privacy, confidentiality, informed consent, and
patient autonomy.

m
Ensuring equitable access and cost distribution across all community groups is essential for
gn
promoting health equity (Nall, 2020). This involves verifying that everyone in the community can
access essential healthcare services and that healthcare costs are not prohibitively high. For
example, when implementing a public option for healthcare insurance, efforts will be made to
si
ensure that premiums and deductibles are affordable for low-income families and individuals.
As

In conclusion, ensuring cultural sensitivity, ethical considerations, and equity in access and cost
ss

is crucial when proposing a solution to the economic issue of accessing affordable healthcare
insurance. This involves understanding cultural values, meeting ethical standards, and ensuring
access and cost equity across all community groups. By doing so, health equity can be
la

promoted, and access to essential healthcare services can be improved for all community
members.
eC

Conclusion
in

The economic challenge of accessing affordable healthcare insurance is a multifaceted problem

nl

with widespread impacts on individuals, organizations, and communities. Addressing this issue
requires a comprehensive approach that considers feasibility, cost-benefit analyses, and
O

cultural, ethical, and equitable implications. By adopting evidence-based strategies and

implementing solutions such as Medicaid expansion, public options, and addressing prescription
drug costs, we can mitigate financial risks, promote health equity, and improve access to
essential healthcare services for all community members.

Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing?
Call Us Now (612) 234-7670
Email Us Contact@OnlineClassAssignment.com
Website: OnlineClassAssignment.com
For Free MSN Sample: OnlineClassAssignment.com/free-Sample
 om
t.c
en
m
gn
si
As
ss
la
eC
in
nl
O

Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing?
Call Us Now (612) 234-7670
Email Us Contact@OnlineClassAssignment.com
Website: OnlineClassAssignment.com
For Free MSN Sample: OnlineClassAssignment.com/free-Sample
References
Agency for Healthcare Research and Quality. (2021). Developing and implementing a risk
management plan: AHRQ patient safety network. AHRQ.gov.
https://psnet.ahrq.gov/primer/developing-and-implementing-risk-management-plan

Auditboard. (2021, February 18). 10 Types of risk management strategies to follow in 2021.
Www.auditboard.com. https://www.auditboard.com/blog/10-risk-management-strategies-2021/

om
Campbell, A. L., & Shore-Sheppard, L. (2020). The social, political, and economic effects of the
Affordable Care Act: Introduction to the issue. RSF: The Russell Sage Foundation Journal of the
Social Sciences, 6(2), 1–40. https://www.jstor.org/stable/10.7758/rsf.2020.6.2.01

t.c
Carney, K. J. L. (2020). Practitioner application. Journal of healthcare management, 65(1),
71–72. https://doi.org/10.1097/jhm-d-19-00237

en
Georgetown University. (2019). Cultural competence in health care: Is it important for people

m
with chronic conditions? – Health Policy Institute. Health Policy Institute; Georgetown University.
https://hpi.georgetown.edu/cultural/
gn
Graves, J. A., Hatfield, L. A., Blot, W., Keating, N. L., & McWilliams, J. M. (2020). Medicaid
expansion slowed rates of health decline for low-income adults in Southern States. Health
si
Affairs, 39(1), 67–76. https://doi.org/10.1377/hlthaff.2019.00929
As

Illinois Government. (2021). Feasibility report for coverage affordability initiatives in Illinois.
Illinois.gov.
https://www2.illinois.gov/hfs/SiteCollectionDocuments/04022021FeasibilityStudyReportFinal.pdf
ss

Karpman, M., Coughlin, T. A., & 2021. (2021, April 6). Declines in uncompensated care costs for
la

the uninsured under the ACA and implications of recent growth in the uninsured rate. KFF.
https://www.kff.org/uninsured/issue-brief/declines-in-uncompensated-care-costs-for-the-uninsure
eC

d-under-the-aca-and-implications-of-recent-growth-in-the-uninsured-rate/

KFF. (2019, March 15). KFF Health Tracking Poll – February 2019: Prescription Drugs. The
in

Henry J. Kaiser Family Foundation.

https://www.kff.org/health-costs/poll-finding/kff-health-tracking-poll-february-2019-prescription-dr
nl

ugs/
O

King, J. S. (2020). Covid-19 and the need for health care reform. New England Journal of
Medicine, 382(26). https://doi.org/10.1056/nejmp2000821

Kosala, G., & Heengama, B. (2019). Scholar works revenue diversification to improve and
maintain service offerings of nonprofit organizations part of the finance and financial
Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing?
Call Us Now (612) 234-7670
Email Us Contact@OnlineClassAssignment.com
Website: OnlineClassAssignment.com
For Free MSN Sample: OnlineClassAssignment.com/free-Sample
management commons, and the organizational behavior and theory commons. Walden
University.
https://scholarworks.waldenu.edu/cgi/viewcontent.cgi?article=8509&context=dissertations

McKinsey. (2022). The transformative impact of inflation on the healthcare sector | McKinsey.
Www.mckinsey.com.
https://www.mckinsey.com/industries/healthcare/our-insights/the-gathering-storm-the-transforma
tive-impact-of-inflation-on-the-healthcare-sector

om
Nall, R. (2020, September 8). Health equity: Definition, examples, and action.
Www.medicalnewstoday.com. https://www.medicalnewstoday.com/articles/health-equity

Peng, Z., & Zhu, L. (2021). The impacts of health insurance on financial strain for people with

t.c
chronic diseases. BMC Public Health, 21(1). https://doi.org/10.1186/s12889-021-11075-2

en
Rapfogel, N., & Calsyn, M. (2021, May 5). Public options will improve health equity across the
country. Center for American Progress.
https://www.americanprogress.org/article/public-options-will-improve-health-equity-across-countr

m
y/
gn
Sturmberg, J. P., & Bircher, J. (2019). Better and fulfilling healthcare at lower costs: The need to
manage health systems as complex adaptive systems. F1000Research, 8, 789.
si
https://doi.org/10.12688/f1000research.19414.1
As

Truong, H., Yee, T., & Tu, D. (2022). The impact of cost management strategies on financial
performance in healthcare organizations. Journal of Healthcare Finance, 49(2), 1-15.
https://journals.lww.com/journalhealthcarefinance/Abstract/2022/03000/The_Impact_of_Cost_M
ss

anagement_Strategies_on.2.aspx
la

WHO. (2019). Economic and social impacts and benefits of health systems report. Who. int.
https://apps.who.int/iris/bitstream/handle/10665/329683/9789289053952-eng.pdf
eC
in
nl
O

Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing?
Call Us Now (612) 234-7670
Email Us Contact@OnlineClassAssignment.com
Website: OnlineClassAssignment.com
For Free MSN Sample: OnlineClassAssignment.com/free-Sample