Question

what is the most significant benefits that Medicare, Medicaid and HIPPA have brought to the healthcare industry and the most significant challenges they have presented to decision making on their industry

Answer 1

Significant Benefits

The most significant benefits that Medicare, Medicaid and HIPPA have brought to the healthcare industry is that the weaker sections of society do not have to worry about the medical bills.They can get treatment in best hospitals..Benefits of Medicare, Medicaid and HIPPA are more for the underprivledged. They have helped many people in all the years. It Implemented changes to our hospital systems by providing stimulus monies for medical research, procedures and technology.

Health Insurance Portability and Accountability Act (HIPAA) protects the privacy and security of health information and provide individuals with certain rights to their health information. The Privacy Rule gives individuals important rights with respect to their protected PHI, including rights to examine and obtain a copy of their health records in the form and manner they request, and to ask for corrections to their information.

Significant challenges

The health care leaders encounter many challenges including regulatory and policy changes; medicinal and technological advancements; funding; education; and ethical issues.

• Healthcare rising costs

As more people strive to live longer, healthier and more active lifestyles, healthcare concerns increase and so does the costs. Research reveal healthcare costs and spending often rise at rates exceeding inflation, and is expected to increase in the future

• Healthcare regulatory challenges

Regulatory challenges drive up the cost of providing services and care.

• Medicinal and technological advancement challenges

The practice of medicine and technology has created opportunity and challenges in the way .Today’s health organizations are facing physician shortages and need “low-cost alternatives to office visits” and in-patient care

The pressure and increasing influx of patient data, legal requirements for strict privacy and security, rapidly advancing clinical technology increases costs, and other factors.

• Training and education challenges

Professional development is the key. Healthcare leaders must take steps to assess, develop and fine tune key personal and professional skills to remain proficient.

• Ethical challenges

Ethical challenges in healthcare is a big deal. Many ethical issues creat big problem. Healthcare leaders must ensure their behavior and their employees are above reproach.Reform requires ethical decision-making from leaders” because these leaders influence “various relationships” and “creates fundamental successful changes in healthcare.” Sound “ethical principles to transformational leadership improves healthcare relationships and alleviates stress and tension produced by change Leaders must understand the success of the organization; heavily rely on their ethical behavior. Building trust earns money and funding and reduces unnecessary liability costs for the agency..