Premium Essay

Hcs/440 Group Paper

In: Business and Management

Submitted By bjbauman
Words 1073
Pages 5
The High Cost of Healing
Barbara Bauman
HCS/440
April 21, 2014
Dr. David Moody

The High Cost of Healing The cost of health care has been at the forefront of politics for years. It is one of the most talked about topics not just in political venues but also country wide. Every American has an opinion on how our economy can be fixed and they are passionate about health care reform. The price of insurance alone causes many Americans to not have coverage. For those that can afford coverage, the struggle to pay co pays is immensely crippling their bank accounts. Of these burdens on Americans today, the most frightening fact lies in the cost of prescription medications. The price for prescription medications is quickly becoming one of the largest medical expense burdens on Americans today. Many Americans are cutting expenses in other areas of their lives such as groceries and entertainment in order to obtain the pills that directly affect their health. Some people do not have prescription medication coverage in their policies and have to pay 100% out of pocket. The demand of certain drugs is causing and allowing some companies to greatly increase price ("Consumer Reports", 2006-2014). Skipping a bill such as a mortgage can cause many issues for a person but can usually find resolve with time. However, many people are taking other dangerous steps such as not following up with doctors or specialists and even electing to not have procedures performed because of cost as well as the need for prescriptions after ("Consumer Reports", 2006-2014). Some Americans are frustrated because their physicians rarely if ever suggest generic prescriptions or over the counter drugs to cure ailments ("Consumer Reports", 2006-2014). These same people do not feel comfortable discussing their financial situations with the physicians leading them with no...

Similar Documents

Free Essay

Economic Paper

...Simulation Paper HCS/440 Economics: The Financing of Health Care June 4, 2012 Caryn Callahan I’m a representative of Castor Collins Health Plans insurance. As a representative of the company my job is to maximize profit and minimize risk for the company. The simulation states Castor Collins has been approached by two groups of people for health insurance (University of Phoenix, 2007). Both companies have a set rate that their employees are willing to pay. According to the simulation the first group, Constructit consists of 1,000 while, the second group, E-Editors, comprises of 1,600 people (University of Phoenix, 2007). It is up to my team to select the appropriate plan that meets Constructit maximum annual premium of $4000, and E-Editors maximum annual amount of $4,500 (University of Phoenix, 2007). The simulation stated the three insurance plans that Castor has are Castor Standard, Castor Enhanced, and Castor Enhanced Minor (University of Phoenix, 2007. Although Castor Standard is good plan it does not cover pre-existing conditions. The Castor Enhanced does cover pre-existing conditions. In addition, we have the Castor Enhanced Minor Plan that is also a customized plan. With this plan we have the option of removing adding services that may have high utilization in an effort to satisfy our client Constructit needs (University of Phoenix, 2007. Demographics of Constructit According to the simulation Constructit consists of 550 men and 450 women, in the 26-42 age......

Words: 452 - Pages: 2

Premium Essay

Health Care Spending

...Health Care Spending Paper C Murphy HCS 440 December 19, 2011 Health Care Spending Paper Today, health care issues within the United States are still a major concern in regards to where people of our communities do not always agree with what is being done and what is not being done. The three major issues with health care spending is how much is it going to cost and where is the money going to come from? The amount of per-patient costs have doubled more in the United States than other nations around us. The last issue is the amount of Americans that has no health care at all. This paper will discuss the healthcare expenditures that is necessary for our entire population. It is no secret that costs have been on the constant rise for many years. The expenditures in the United States related to health care, passed over $2 trillion in the year 2008. This has many affects not just on families that are trying to make it but also the businesses and the public budgets. Spending on health care costs are rising faster than the current state of the economy as a whole and also faster than the working people's wages. The United States spends about 20% of the GDP ( gross domestic product) on health care alone opposed to other countries that are spending no more than 12%. Within the next decade or so, the Centers for Medicare and Medicaid predict that the health care growth will surpass the GDP. In the United States, we have the most expensive health care system because it is......

Words: 735 - Pages: 3

Premium Essay

Economic Issues

...HCS/440 Economic Issues Paper Summary of both companies Constructit is a company that consists of 550 men and 450 women. This company has about 32% of its employees that gets great physical activity, only 25% that get moderate physical activity and 43% that have little to no physical activity. From my reading Constructit had a total of 350 men, which is 45% and 370 women, which is 37.37% that were obese. About 15% of its employees suffered from high blood pressure and 9% suffered from arthritis. 3.44% suffered from diabetes, 2% suffered from depression and .69% suffered from alcohol dependence. E-Editors is a company that consist of 760 men and 840 women. This company has 95% employees that have little to no physical activity while 5% says that they only get moderate physical activity. 45% which equals to 720 people, of which 46% or 350 are men and 44% or 370 are women. E-Editors their 19.60% employees also suffer from high cholesterol and 19.30% suffers from high blood pressure. 17.70% have allergies and 16.80% have migraines. My Performance I did not choose health insurance coverage for Construtit and for E-Editors I have choosing Caster Enhancement coverage. With my decision making, the earnings have reduce significantly by not providing insurance coverage for Construtit; given the risk covering the group is low and evident from their health profile; I could have increased the earnings by selecting an appropriate plan for the group. Expanded......

Words: 769 - Pages: 4

Premium Essay

Hcs Paper

...Economic Issues Simulation Paper Name HCS/440 Economics: The Financing of Health Care February 7, 2011 Instructor Economic Issues Simulation Paper The Castor Collins health plan is a health maintenance program (HMO) that was found in 1999. The company provides health insurance coverage through a system that involves a network of physicians and hospitals. Castor Collins Heath Plan uses the capitation model to fund its large distributed group of physicians and health care organizations. Currently, Castor Collins provides health care coverage to 100,000 subscribers and would like to increase their enrollees. It is the responsibility of the Vice President along with his most trusted advisers, Helen Feuerman, Chief Financial Officer, Jonathan Wilkes, Chief Medical Officer, and Adam Hunter, Executive Vice President, Planning and Development, to reach out to new clients; two in particular, E-Editors and Constructit. E-Editors Castor Collins has a major company that is looking for health insurance coverage for their employees. The company E-Editors employs 1,600 individuals, 760 males and 840 females. The employee’s ages range from 35-54. Most of the employees with E-Editors are married so they will need to provide an affordable health care plan for their families. Looking at the kind of work involved for most of the employee’s, Castor Collins found that many of the individuals have a sedentary position. In fact, ninety-five percent of the employees at E-Editors have a......

Words: 1117 - Pages: 5

Free Essay

Health Care Spending

...Economic Terms and Health Care History Tina Hamm HCS 440 November 28, 2011 Nanc Renninger There are many terms that are used in Healthcare History, some of which have been used since the beginning of time and some that have been adapted over the years with the never ending changes in healthcare. In the next few paragraphs we will learn when these terms began and where they take place. When one learns the history of healthcare and the fundamentals of the economic terms they are able to better understand just how the system works. The terms that we will learn about in the paper are as follows: economics, supply and demand, microeconomics, macroeconomics, elasticity, inelasticity, and gross domestic product. There are constant changes and amendments all the time and for this very reason all persons within the healthcare business has to history in order to be prepared for future changes. Let’s start with economics in healthcare and how it has changed over the years. The major reason for the change in economics is due to the continuing change in technology and the different ways healthcare is offered. In the 1800’s is when healthcare began to take a formal way of medical technology. Doctor’s started to form hospital structures and education became necessary. In the 1900’s America was the largest of population to have hospitals only to find a economic decline that made the stock market crash. I am sure everyone has heard of the Great Depression, which made it...

Words: 879 - Pages: 4

Premium Essay

Hcs/440 Economic Issues Simulati Paper

...Economic Issues Simulation Paper Name HCS/440 Economics: The Financing of Health Care February 7, 2011 Instructor Economic Issues Simulation Paper The Castor Collins health plan is a health maintenance program (HMO) that was found in 1999. The company provides health insurance coverage through a system that involves a network of physicians and hospitals. Castor Collins Heath Plan uses the capitation model to fund its large distributed group of physicians and health care organizations. Currently, Castor Collins provides health care coverage to 100,000 subscribers and would like to increase their enrollees. It is the responsibility of the Vice President along with his most trusted advisers, Helen Feuerman, Chief Financial Officer, Jonathan Wilkes, Chief Medical Officer, and Adam Hunter, Executive Vice President, Planning and Development, to reach out to new clients; two in particular, E-Editors and Constructit. E-Editors Castor Collins has a major company that is looking for health insurance coverage for their employees. The company E-Editors employs 1,600 individuals, 760 males and 840 females. The employee’s ages range from 35-54. Most of the employees with E-Editors are married so they will need to provide an affordable health care plan for their families. Looking at the kind of work involved for most of the employee’s, Castor Collins found that many of the individuals have a sedentary position. In fact, ninety-five percent of the employees at E-Editors have a......

Words: 1117 - Pages: 5

Premium Essay

Economic Simulation

...Angel Gross HCS/440 Economic Issues Stimulation Paper 08/28/2014 Caryn Callahan Economic Issues Simulation Paper Introduction I am Angel Gross I am the vice president strategy and financial planning for Castor Collins Health Plan. My job description consists of on a daily basis is interacting with new patients and formulating health plans that will suit their needs also including pricing plans and setting insurance premiums. The HMO provides health insurance and health care services to enrollees through it statewide network of physicians and hospitals. Castor Collins currently has 100,000 enrollees throughout the state and is looking to increase this number. The first group constructit consist of a 1,000 people while the E-editors, comprises 1,600 people neither group has employer insurance this means that people comprising both groups will pay for they own insurance the people at constructit are willing to pay the maximum annual premium of $4,000 per person, while the people at E-editors are willing to pay a maximum annual premium of $4,500 per person. Constructit comprises 500 men and 450 women with the age group of 26 to 42 about 60 percent of the group id married. The members of E-editors comprise 760 men and 840 women in all the ages of 35 to 54 with the highest percentage of 61 percent being between 45-54 years of age. The majority of E-editors employees are listed as married. The work at E-editors is largely sedentary work sitting in front of ......

Words: 1204 - Pages: 5

Premium Essay

Economic Issue Smiluation Paper

...Economic Issue stimulation paper July 8, 2015 HCS/440 Health Maintenance organization (HMO) is an organization that offer a wide range of health services insurance through a network of providers dealing with supplying services to they member. Self-funded health care benefit plans, individual and other entities as a connection with health care providers or hospital on a prepaid basic. In this stimulation I will review the company demographic, the HMO plans, an overview of castor Collin plans, reason why each plan could be selected and reason for my decision. Castor Collin health plan was founded in 1990 in Pantone, and offer Health Maintenance to organization. Castor Collin provide health insurance and health maintenance to enrollees through it statewide network of physician and hospital. Castor Collin currently has 10,000 enrollees throughout the Unites State and is looking forward to increasing this number. Two company are trying to find coverage for they employees and looking to see what Castor Collin has to offer them. The two company are E-editor and Constructit that are currently seeking coverage. Constructit consist of 1,000 employee and E-editor have 1,600 employee. Both of these company have provided the maximum amount they are willing to pay, the demographics, and health risk factor of their employee. E-editor are willingly to pay an annually maximum amount of $4,500 per employee, and Constructit is willing to pay $4,000 per employee annually. As a......

Words: 897 - Pages: 4

Premium Essay

Economic Issue Smiluation Paper

...Yvancia, Benjamin Economic Issue stimulation paper July 8, 2015 HCS/440 Health Maintenance organization (HMO) is an organization that offer a wide range of health services insurance through a network of providers dealing with supplying services to they member. Self-funded health care benefit plans, individual and other entities as a connection with health care providers or hospital on a prepaid basic. In this stimulation I will review the company demographic, the HMO plans, an overview of castor Collin plans, reason why each plan could be selected and reason for my decision. Castor Collin health plan was founded in 1990 in Pantone, and offer Health Maintenance to organization. Castor Collin provide health insurance and health maintenance to enrollees through it statewide network of physician and hospital. Castor Collin currently has 10,000 enrollees throughout the Unites State and is looking forward to increasing this number. Two company are trying to find coverage for they employees and looking to see what Castor Collin has to offer them. The two company are E-editor and Constructit that are currently seeking coverage. Constructit consist of 1,000 employee and E-editor have 1,600 employee. Both of these company have provided the maximum amount they are willing to pay, the demographics, and health risk factor of their employee. E-editor are willingly to pay an annually maximum amount of $4,500 per employee, and Constructit is willing to pay $4,000 per employee......

Words: 899 - Pages: 4

Premium Essay

Economic Terms and History Paper

...Economic Terms and History Paper Vicki Sellers HCS 440 July 10, 2014 David Disciascio Economic Terms and History Paper Health care economics have dramatically evolved throughout generations in this country. And those changes have caused a shift in how health care organizations to adjust their financial methods, strategies, and how they provide overall care. Health care economics has at times put a great burden on the health care industry such as the providers, the ones needing care, and the insurance companies who now help pay for that care. Health care facilities and companies continually have so many demands put on them with all the changes, it is not surprising that something has to suffer because of it and in our current economy, what seems to suffer most is the quality of care provided. Changes to health care and its delivery have also been impacted by technology, advances in medicine as well as different procedures and medicines . People vary in their belief systems in what has caused the changes to health care economics. Some individuals believe that is due to various changes that United States have gone through since her birth. However many others believe that a lot of influence has been due to advances in technology and how those changes have impacted health care. What is most important is having an understanding of these changes and the impacts they have made on the health care industry over all throughout history. Comprehending the history of and how......

Words: 1035 - Pages: 5

Premium Essay

Electronic Medical Records

...Electronic Medical Records Jacynthia Mcgill-Rice HCS/440 July 13, 2013 University of Phoenix Pamela Cromity, Instructor Abstract Emergency systems improve the quality of care, save money, and improve efficiency using familiar research technology for the health care industry. Larry Weed an amazing visionary physician who in the 1960’s, stated that health care providers should be able to document findings, and research patients information quickly and easily in their electronic medical records. The concept of implementing electronic medical record is also to allow third parties to independently verify diagnosis accurately in a timely manner. The EMR system provides effective communications among health care professionals and providers, such as radiology, laboratory, and connection with patients who experience chronic pathologies under the care of multiple subspecialty care providers. In this paper will speak about advantages, disadvantages, and the challenges within the communication of electronic medical records. Electronic Medical Records Electronic medical records have been around since the 1960’s. As medical care becomes more complex new data is already overwhelming health care professional’s capacity to treat patients with the latest information...

Words: 1116 - Pages: 5

Premium Essay

Economic Issues Simulation Paper

...Economic Issues Simulation Paper/ Constructit Ruby Medders HCS/440 March 16, 2015 Lori Geddes Economic Issues Simulation Paper/ Constructit The research was done on determining which insurance policy would be better for a striving company. My decision was to research Constructit; I will give you my reasons behind choosing this company, benefits that will help the employees of this company and why I think this was the better choice for this company. (Getzen, 2013) Profile The companies name is Constructit, it employees 1000 people. The demographics for this company is ages 26-45 years old, there are 406 people between the ages of 26-30, 314 people between the ages of 31-35, and 82 people between the ages of 41-45. The total count for this company is 550 men and 450 women and 60% of the people are married. The physical condition of the people who work for Constructit shows that 32 % of the employees are involved in great physical activity, 25% is involved in a moderate physical activity, and the rest of the employees which is 43% are involved in sedentary activities. The health risk of the employee has been rated moderately high for health risk in this group. The good part of the research showed that 35% of the group has no major health risk, although 18% of the people who work for this company are smokers. (Getzen, 2013) According to report some of the major causes of work absenteeism at Constructit are injuries, respiratory system diseases, digestive disorders...

Words: 1423 - Pages: 6

Premium Essay

Economic Issues Simulation Paper Hcs/440

...Economic Issues Simulation Paper Introduction The Economic Issues Simulation Paper is about Castor Health Plans. This health plan was founded in 1999 as a Regional HMO in the state of Pantome. The main purpose of Health Maintenance Organizations (HMOs) is to provide health care services and health insurance to enrollees through a statewide network of hospitals and physicians. The HMOs complete this by using a capitation model in which it pays its large network of health providers. Caster Health plan has thousands of enrollees throughout the state and is looking towards increasing the amount. As a representative for the Castor my responsibilities is to maximize profit and minimize risk for the company. Other responsibilities that I would need to help with are including plenty of interaction with any new clients and formulating health plans in that would suit the client’s needs, on top of all that this would also include pricing plans and setting insurance premiums. It’s never an easy job making any sort of financial Making any types of financial and economic decisions; making decisions for a business is a lot harder because one has to realize what is and will do best in order for the business to make profits and to grow. Castor will need to choose between two types of companies it will want to help cover with their health plan. The two companies that have been put in front of their health plan company are that of Constructit or E-editor. The simulation has a......

Words: 1303 - Pages: 6

Premium Essay

Healthcare Spending

...Healthcare Spending Diana L. Giese Healthcare Economics HCS/440 October 31, 2011 Dr. John Gaze Healthcare Spending Healthcare spending is a major part of our nation’s problem today; we have the highest per capita of outlay than any other country in the world. This could be due to the increase knowledge of the use of medical technology, research for new diseases and longer life span within our population. In this paper the discussion will begin with a clear description on the allocation of funds towards the care of individuals participating in their need for proper care and conclude with overall view of how having this expenditure reformed could possibly support our country economically. There are several factors that affect our healthcare cost, namely, price settings for the service offered has greatly influenced the high cost to those that are insured to compensate for the uninsured. With the many attributes of healthcare disbursements one must realize that it is far from the past when doctors were once the only recipients of payments for their services rendered. Here is a graph of 2008 total health expenditure as a share of GDP with other countries. According to Kaiser Family Foundation (2011), economist will measure the gross domestic products and the amount of money spent on a particular entity which in this case would be healthcare spending. This chart shows that rapid growth of outlays of the United States compared to other nations where we far exceed in......

Words: 1378 - Pages: 6

Premium Essay

Jjkji

...|[pic] |Syllabus | | |College of Natural Sciences | | |HCS/440 Version 5 | | |Economics: The Financing of Health Care | Copyright © 2010, 2007, 2005, 2004, 2002, 2000 by University of Phoenix. All rights reserved. Course Description This course provides an overview of the economics of health care. The various payers are examined, including private, state, and federal entities. Issues such as the cost effectiveness of prevention, the management of patients and their diseases, as well as the cost of treatment settings are discussed. Third party reimbursement from various sources, ranging from for-profit insurance carriers to charitable donations, are reviewed. The health care system's use of grant funding and research dollars is described. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. ...

Words: 1808 - Pages: 8