Lowering Healthcare Costs And Global Medical Tourism

2366 words - 9 pages

As healthcare costs continue to escalate in the United States, employer healthcare plans are looking for alternatives pricing plans to lower healthcare insurance costs for their employees. Blue Ridge Paper Products (BRPP) is one company in Canton, North Carolina who is attempting to decrease healthcare costs for their employees by offering health promotion incentives and more cost effective provider reimbursement options (McLaughlin & McLaughlin, 2008). McLaughlin and McLaughlin (2008) explain while the health promotion strategies they have instituted have been successful at lowering BRPP’s healthcare claims, they have found it difficult to negotiate lower costs with local healthcare providers. In this paper, I will discuss possible consumer and provider bargaining strategies with regarding to lowering healthcare costs; the benefits of a large academic medical center and a large tertiary community hospital; and finally, how medical global tourism will affect state and national healthcare policies.
Decreasing Healthcare Costs: Bundled Pricing and Lowering Administrative Costs
It would be necessary for a hospital administrator to look closely at ways to lower healthcare costs and provide more efficient care when a large employer like BRPP states they are thinking of relocating their employee inpatient hospital services to a company like InduShealth. InduShealth is offering substantially lower prices for several surgical procedures and a U.S. hospital administrator would not want to lose this large consumer population if it was possible to find more efficient methods of providing healthcare to their patients (McLaughlin & McLaughlin, 2008). One pricing strategy that a hospital administrator could advocate for is a bundled payment system, where healthcare services are combined and patients are charged one price final price for their inpatient hospital stay (Berkowitz, 2011). However, it is important for hospitals to be able to portray the benefit to consumers of combining services for one total cost versus purchasing services individually (Berkowitz, 2011). Currently, most healthcare centers in the U.S. utilize a fee-for-service (FFS) payment system where the focus is on the volume of services generated versus cost-effectiveness and quality (Scamperle, 2013). However, McLaughlin and McLauglin (2008) explain that many healthcare centers want to move toward a pay-for-performance system which rewards healthcare providers who institute quality-oriented initiatives, such as electronic technologies, that promote prevention strategies and decrease waste. Scamperle (2013) states a major advantage of bundled pricing is total costs can be reduced for consumers and quality of services can be improved by eliminating inefficiencies. She reveals these pricing plans are more cost efficient because one single price is generated from multiple providers for a single episode of hospital care. She explains hospital bundled pricing plans are in enticing...

Find Another Essay On Lowering Healthcare Costs and Global Medical Tourism

Impact of global tourism and hospitality on environment

1660 words - 7 pages Tourism industry is one of the immerging sectors in recent world business. It has a huge potential. Many countries economy is depend on this tourism sector. We believe we can exploit this opportunity by investing its various components. Here mainly we want to invest in hotel industry because we believe this is the most important components of this sector where we can achieve our objective. We have a previous experience in this sector and we

Medical Tourism Essay

1055 words - 5 pages To reduce poverty and improve healthcare for citizens, Vietnam must create medical tourism businesses. It is estimated that approximately 7 million people seek for medical care overseas every year, thus Vietnam, where healthcare costs are up to 70 percent cheaper than in the U.S. and the U.K., is able to become a regional hub for health tourism that probably generates many potential opportunities to reduce poverty, accelerate the sustainable

Benefits of Medical Tourism

3305 words - 13 pages that does exist is given by the stakeholders who have an interest in the trend. The data is not provided by independent research institutions as a result. Furthermore, it is difficult to examine the impacts of medical tourism from a global standpoint. Many policy makers and decision makers should be cautious of expanding into the realm of this area of healthcare until more data is available. There are many myths of medical tourism; including

Medical Tourism report

1560 words - 6 pages countries. For example a knee replacement in the US would cost a patient $48,000 USD, while having the procedure in India would cost only $8,000 USD (OECD, 2011), as shown in figure 1. Additional factors contributing to the global explosion of medical tourism include lower airfares, rising costs of healthcare in industrialised countries, advances in technology available globally, access to controversial medical and related services in developing

Medical Tourism in Southeast Asia

1771 words - 7 pages lines and high costs in their home countries has fuelled a new wave of healthcare consumers: medical tourists. Medical tourism is defined as patients traveling abroad to seek health care outside of their healthcare jurisdiction. The medical treatments are sometimes combined with recreational activities, hence the term ‘medical tourism’. In Southeast Asian countries such as Malaysia and Thailand, medical tourism has emerged as an industry and

Service Marketing On Tourism

9132 words - 37 pages surgery or procedure done overseas to:(i) save on medical costs;(ii) avoid long wait for medical services in their home country;(iii) get better quality medical care or diagnostic services ;(iv) even protect their privacy;For some medical tourists, combining a vacation with the medical procedure is the attraction. For most, though, vacationing and leisure tourism is secondary. Most the medical tourists are from the US, Europe, Canada, Japan, and the

Level of Perception of Freshman Students at De La Salle Lipa Regarding Medical Tourism in the Philippines

1661 words - 7 pages professionals to make an agricultural region, comfort and a bear cost of a foreign tour, appreciative cash trade quality of the overall. From the 40 respondents of freshman students in De La Salle Lipa that the researchers able to survey, majority of the respondents strongly agreed that medical tourism in the Philippines is important. (See Graph 1) Maybe the students strongly agreed because all people need to receive medical healthcare. As can be seen by

International Healthcare Comparisons

2192 words - 9 pages Association, 2007). However in the U.S., rationing comes more from the high costs of healthcare services and the fact that many of their citizens’ are unable to purchase adequate health insurance or services (Rashford, 2007). Therefore, healthcare rationing is a critical aspect of healthcare all global politicians must take seriously to ensure the health and wellbeing of their citizens. Revenues There are many ways that countries generate funds

The Fry Tax

987 words - 4 pages lives by reducing the obesity rate, lower healthcare costs and provide more community recreation centers? You can. By imposing a tax on all servings of unhealthy foods, America would be able to lower its obesity rate, thus lowering insurance premiums, and could use those funds to build community centers and activity areas. Although I believe we should tax all unhealthy foods, to make things simpler, let's just look at taxing one of

Discussion 4

600 words - 3 pages finding ways to reduce costs without sacrificing the quality of services rendered (McClellan, 2011). One such quality initiative program implemented to improve prevention strategies and coordination of care for patients with chronic illnesses was the Colorado Multipayer Patient-Centered Medical Home Pilot (Harbrecht & Latts, 2012). Harbrecht and Latts (2012) explain six health plans, the state’s high-risk pool carrier, sixteen family or internal

What is Dental Tourism?

2030 words - 9 pages tourism“, relatively young, but fast-growing global phenomenon in which travelers from wealthier countries, visit less-developed nations for medical care mixed with vacation or business – all at cut-rate prices. Very popular destinations in Europe are Spain and Turkey, too. Some other locations, where most popular visitors are Australians, Americans, Canadians or New Zealanders are Mexico, Thailand, Philippines, Singapore or Costa Rica. Those

Similar Essays

Medical Tourism: Boon Or Bane To African Healthcare Delivery Model

757 words - 4 pages There is an old Saying “When life gives you lemons, make lemonade” in the Same Way Medical Tourism is the sour reality of almost all of the African countries lets learn how we can make Sweet Lemonade out of the Sour Lemon called Medical Tourism. Medical tourism has become lifeline to the critically ill patients of Nigeria where healthcare delivery is not effective, and at the same time Medical Tourism has threatened the already malnourished

Healthcare Costs And Hca Essay

1523 words - 7 pages technology, and aggressive billing practices. I will analyze financial charts, company websites, and news articles to gain perspective on the influence of reducing medical costs, research trends such as ICD-10, coding, and billing and view the impact that coding will have on billing practices, and I will research technology and trends that are developing and currently being implemented into the healthcare system. Section II: Literature

Australia In Its Regional And Global Context Tourism

2010 words - 8 pages income it generates and number of people who travel abroad. One of the core elements of sustainable tourism development is community development, which is a process and a capacity to make decisions that consider the long-term economy, ecology and equity of all communities.BibliographyBooks•Theobald, W.F. 1998, Global Tourism, Butterworth and Heineman.•Meeting Visitor Expectations and Enhancing Visitor Enjoyment, 1992, Commonwealth

Economic Analysis Of Dell Desktop Computers Industry Demand, Costs And Production, Market Structure, Swot Analysis, Global Strategy, Recommendations

5414 words - 22 pages computer hardware industry in 1999 and through most of 2000. However the industry's fortunes reversed in 2001 and demand remained soft in 2002 due to the global economic downtown. The huge decrease in worldwide shipment growth can be attributed to the merger of H-P and Compaq computers. There were overlapping products and high inventory costs for not sold products in 2001. Moreover, the lackluster U.S. economy is likely to hurt the PC demand. The