...provide a summary on the key forces which is likely to affect healthcare industry at the level of the macro-environment. Malaysia has been seen as one of the best destination for medical tourism for its modern private healthcare facilities as well as highly efficient medical professionals (Arshad, Velasamy and Wong, 2014). According to Matta president Hamzah Rahmat, the weakening Ringgit Malaysia is perceived to have benefited the medical tourism industry however the unstable political situation such as rallies, protest and violence had kept the tourist away (FMT, 2015). Despite the unfavourable political situation, healthcare industry is still expected to grow at a double-digit rate (The Edge, 2015). Based on HLIB research on healthcare sector, one the catalysts for the sector is that the community has higher educational level and awareness toward personal health which in turn increase the demand of healthcare services (The Edge, 2015). Besides, technology advancements are also transforming the healthcare industry vastly for the past decades. Technology has improved information gathering, research, treatments and communications between doctors and patients (MOH, 2015). As such, it give medical providers a fresh, effective and efficient way to practice medicine. Threat of New Entrance It is not easy to enter into the private healthcare industry in Malaysia as the industry is highly regulated by the Private Healthcare Facilities and Services Act 1998 (Nik Rosnah, 2011). According...
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...Learning about Pharmacist Salaries If you're planning to become a pharmacist, you're in luck: it's one of the best-paid positions in the healthcare industry. By choosing this career, you won't only have the chance to help patients get better but you'll also enjoy a decent wage that can cover all your needs. Salary Spectrum The average pharmacist earns around $108,000 every year. Those who are on the lower-end of the spectrum may not earn as much, with some getting only $75,000. (It's important to note, though, that the lowest-earning pharmacist still makes more than pharmacy technicians and even other workers in the healthcare field.) Those who are in the higher end of the spectrum earn more than $130,000 every year. Salary Breakdown Just...
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...Healthcare Industry Paper HCS/449 November 9, 2015 Hello, how is everyone this evening? My name is and I was picked to come here to be a guest speaker to discuss the healthcare industry’s evolution from the past, now, and what is left to come. I will discuss what healthcare industry is, the evolution of technology, financial, and the economic perspective from the past, present, and what we can expect in the future. What is healthcare industry? The healthcare industry is a set of comprises of providing diagnostic, preventive, remedial, and therapeutic services (like physician, nurses, hospitals, etc.). And to include medical equipment, health insurance forums, and pharmaceutical manufactures. The Past Since 2005, the healthcare industry has created to where patients are able to get to their records easier and faster through an electronic health record (EHR). Not only do patients get their medical information faster, but so do physicians, nurses, and medical facilities. In 2009, only sixteen percent of United States hospitals had EHRs and by 2013, it jumped up to eighty percent of all United States’ hospitals invested in EHRs (Jayanthi, 2014). This allowed a more structured platform, a more integrated and efficient care for patients. EHRs can be used as a data and population health tool for the future. If a patient is required to wear a cardiac monitor their heart beats, then they will have a sensor or wearable technology...
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...Health Care Industry Today’s health care system is complex and very different from “what it used to be”. The America health care system has not only undergone drastic changes, but also continues to evolve. The spiraling cost of health in the United States of America is evidenced by both per capita expenditures, and also by measuring health care health care expenditures in relationship to the Gross Domestic Product (GDP). In 1960 the National Health Care Expenditures in billions was $26.9 and per capita was $141, but we can see the drastic difference that in 1996 the expenditures in billions was $1,035.1 and per capita was $ 3,708. With that information we can clearly see that the United States of America have the most expensive health care system in the world. The number of people in the population without health care is one of the primary concerns raised by advocates of health care reform. Multiple surveys indicate that the number of uninsured has fallen due to expanded Medicaid eligibility and health insurance exchanges established due to the Patient Protection and Affordable Care Act, also known as PPACA or “Obamacare”. According to the United States Census Bureau, in 2012 there were 48.0 million people in the U.S. (15.4% of the population) who were without health insurance coverage. Non-citizens are more likely to be uninsured than citizens, with a 43.8% uninsured rate. For millions of working Americans, the industrial revolution changed the very nature of...
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...leader in the healthcare services and an extraordinary trend-setter in medications and the diagnostics. US hospitals, clinics, health centers and research centers have given an extremely decently prepared innovative environment for the healthcare. The United States has the biggest healthcare services on the planet which speaks to an extraordinary allotment of the US economy. In the year of 2010, the healthcare industries utilized more than 14 million individuals or the nine percent of the aggregate US work industries. In 2010, healthcare industries represented around $1.75 trillion in incomes. The overview of the U.S. Bureau of Labor Statistics assesses that between 2008 and 2018, the healthcare industries...
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...Biometrics Technology in Healthcare sector Miss Chawisa Srisinthara Mr. Sangsan Poonyapotapirata Miss Chadaporn Champangoen Miss Tanwarat Trangpanich Mr. Ekapol Koosuwan NIDA Business School National Institute of Development Administration 118 Seri Thai Road, Bangkapi, Bangkok 10240, Thailand Email : Caocao_akatsuki@hotmail.com Tel. +66890710010 Biometrics Technology in Healthcare sector ABSTRACT Nowadays, Biometrics has become an important system in a process for all industries due to this technology can help the companies to manage the data such as gathering, integration, and summary. The companies can also apply this system in every working process steps. Besides, the data can be transferred from paper-based data into computer-based data which is convenience, safety, and accuracy. Moreover, The Biometrics system provides excellence operation and improves productivity. Especially, the biometrics system should be executed in healthcare industry because the patient information is classified and considerable for healthcare providers. 1. Introduction The “Biometrics” is the combination of “Bio” which means a creature and “Metrics” which means a characteristic that can be measured and estimated an amount. So, Biometrics is the biological technology that integrates between biological, medical, and computer technology. It use for measure physiological characteristics and behaviors that is the individual character of each person for identification...
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...A White Paper on Strategic BPO in the US Healthcare Industry The Current Healthcare Environment The healthcare environment today faces challenges that it has never seen before. The industry is under attack from every possible direction from cost containment, HIPAA (Health Insurance Portability & Accountability Act) compliance, lack of stability, to an uncertain future. After trying various managed care techniques and concepts the onus to contain costs is now on the healthcare consumer. Concepts such as defined contribution mutated into various consumer driven health plans are being touted as the nirvana pill for an aching industry. Medical and disease management is expected to play a key role for payors as they try to manage healthcare delivery. While executives are trying to grope for answers in an ever changing environment, the light at the end of the tunnel seems far away and a dim one at that. Regardless of the concepts that will or will not be around three years from now, one thing is certain, the degree of COMPLEXITY is increasing by the day. Healthcare Payors are facing the following points of pain: 1. Managing increasing medical costs and balancing customer satisfaction 2. Reducing operating back-office costs 3. Complying with HIPAA standards and requirements 4. Upgrading IT infrastructure and moving to the web to provide real-time connectivity 5. Focusing on survival...
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...Discovering the Right Fit in the Healthcare Industry Lina Robinson ENG 1000 Lorrinda Khan November 14, 2011 Introduction The health care industry is constantly changing at a rapid pace that requires organizations to adapt to the process of newly managed care. The hiring process is vital to an organization’s growth and development, so during the interviewing process, employers should be able to notice if the job is right for a new hire or not. Money, energy and time spent properly hiring, orientating and training a new employee doubles in order to do so. Organizations depend on their existing and new employees’ production and longevity to enhance their mission statement, character and capitol, in order to be successful. “Every organization wants to attract, motivate, and retain the most qualified employees and match them to jobs for which they are best suited” (BLS, 2010-2011). Organizations go through all of these steps to fill positions, but still fail to place the new hire in the right fit that will benefit them as well as the company. To prevent the issue, the hiring department has to understand new hires strengths and where to place them in the organization. It is not an easy task making hiring decisions, but good training (various seminars, coaching and educational literature) can improve organization’s potential skills to hire the right employees and place them in a position that suits their strengths, and in turn...
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...The senior healthcare industry can be quite hectic to run due to the many departments and variables that must be managed. There can be a number of different physicians, ARNP's, home health, and private third party providers in this type of industry. The residents in a private pay facility present with a vast variety of needs, colors, cultures, personalities and beliefs. Not only does this industry assume responsibility for the residents, but it also assumes the role as a liaison between the families, educator of the aging process, support group facilitator, and active provider of all needs of all involved. There are a number of laws, regulations, internal policies and procedures, and internal working components that create a world of its own within the walls of the community. All of these components contribute to the needs to approaching everything as a team, keeping communication open, and providing consistent positive reinforcement to keep things running smoothly. Many of the senior industries are comprised of stakeholder groups that tend to have significantly different interpretations of the business's mission statements. Stakeholders can complicate the distinctions between ethics, laws, beliefs, oaths, etc. Ethics is defined as being the study of morals and specific moral choices. Laws are the rules defining conduct established by custom, agreement, and/or authority. Beliefs are known as convictions or opinions, and oaths are the formal promises to fulfill...
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...The Love-Hate Relationship between the U.S. Healthcare Industry and the U.S. Economy The healthcare industry plays an important part in the economy of the United States. The sustained increase and high level of spending on health care has been the subject of discussion and scrutiny for several decades. The enactment of the Patient Protection and Affordable Care Act of 2010 (ACA) was hardly the first fiscal policy for healthcare in the history of the economy. There is a long list of fiscal policy attempts from predecessors such as Franklin Roosevelt, Harry Truman, Richard Nixon and most recently Bill Clinton (Sparer, p462). In 1933, Franklin D. Roosevelt drafted amended provisions to his pending Social Security legislation to include publicly funded health care programs but ultimately removed the provisions due to opposition by the American Medical Association (Coombs, p5). Following the Second World War, President Harry Truman called for universal health care as a part of his Fair Deal in 1949 but strong opposition stopped that part of the Fair Deal (Peon, p161-168). On July 30, 1965 President Lyndon B. Johnson signed into law the legislation establishing the Medicare and Medicaid program, social insurance programs administered by the United Stated government providing health insurance coverage to people who are either 65 or meet other special criteria for need (Roemer, p845). In October 1972, President Richard Nixon signed the Social Security Administration Amendments...
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...Being an effective leader in the healthcare industry Student Paper October 6, 2013 I. Introduction There are many traits that an effective leader has. Denise Brooks-Williams, the President and CEO of Henry Ford Wyandotte Hospital, is a great example of an effective leader in the healthcare industry. II. Healthcare Administration- I have always wanted to be in an environment that allows me to help people. I chose healthcare because I was at the hospital quite a bit when my mother was diagnosed with breast cancer. I saw many things that I liked as well as things I'd like to change about some of the hospitals I went to with her. My expected graduation will be in December 2016. III. "I've always had an interest in helping people; I enjoy making a positive impact in the communities in which I live and work. And what better place than through our healthcare systems," says Ms. Brooks-Williams. Denise Brooks-Williams- Received her Bachelor’s and Master’s degree in Health Services Administration from the University Of Michigan. She has received several awards. Active in several community and charitable-based organizations. She was appointed by the governor to the Certificate of Need Commission as a representative of the hospitals and serve as a democrat in a 3 year term that expires April 9, 2016. IV. Traits Of A Great Leader• Interpersonal skills • Team working • Negotiation skills • Communication skills –• Time management – the Other key soft skills...
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...Medical Malpractice Tort Reform in the Healthcare Industry Medical malpractice reform, also known as tort reform, includes strategies to limit medical malpractice costs, deter medical errors and ensure that patients who are injured by medical negligence are fairly compensated. Tort reform has the potential to reduce health care expenditures by reducing the number of malpractice claims, the average size of malpractice awards and tort liability system administrative costs (Medical Malpractice Reform, 2011). Since the 1970s, medical malpractice has been a controversial social issue, which has caused physicians to have increasing concerns about the large number of lawsuits and the negative connotations that tend to go along with them. Physicians have started pushing for legal reforms to decrease the large monetary awards for damages whereas tort attorneys have argued that the negligence suits are an effective way of compensating the victims fairly and forcing the medical professions to follow a proper standard of care (Pozgar, 2013). An article from the Journal of Patient Safety estimates that between 210,000 to 400,000 people die every year in the U.S. from hospital medical errors and 1 in 14 U.S. doctors face a malpractice lawsuit every year (Corapi, 2014). Physicians and healthcare providers argue that the millions of dollars that are awarded in damages increase the cost of healthcare by passing this cost onto the consumer in the form of higher insurance premiums and...
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...Chapter One 1. A. What are some of the industries in the healthcare sector? The major industries in the healthcare sector includes health services, health insurance, medical equipment and supplies, pharmaceuticals and biotechnology, and other (includes a diverse collection of organization ranging from consulting firms to educational institutions to government and private research agencies. B. What is meant by the term healthcare finance as used in the book? Finance, as the term is used within the health services industry and as it is used in the book, consists of both the accounting and financial management functions. C. What are the two broad areas of Healthcare Finance? Accounting as its name implies, concerns the recording, in financial terms, of economic events that reflect the operations, resources, and financing of an organization. Financial management or corporate finance, provides the theory, concepts, and tools necessary to help managers make better financial decisions. Certain aspects of accounting involve decision making, and much of the application of financial management theory and concepts requires accounting data. D. Why is it necessary to have a book on healthcare finance as opposed a generic finance book? The reason is that while all industries have certain individual characteristics, the health services industry it truly unique. 2. What is the difference between a business and a pure charity? A business such as a hospital or medical...
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...Health Wearable Technology !1 The Future of Health Wearable Technology and it's Impact on Healthcare Industry Prashanth Nimmagadda Texas A&M University- Commerce Health Wearable Technology !2 Table of Contents Abstract……………………………………………………………………………………………3 Introduction………………………………………………………………………………………..4 Review of the Literature…………………………………………………………………………..6 Methodology………………………………………………………………………………………8 Findings…………………………………………………………………………………………..9 Summary, Conclusion and Recommendations…………………………………………………..11 References………………………………………………………………………………………..12 Appendix A………………………………………………………………………………………14 Health Wearable Technology !3 Abstract Innovations in technology paved way for a new category of digital devices aimed at improving the quality of life and cost effective healthcare system. This never before seen intersection between technology and healthcare industry leads to an efficient ecosystem which brings value to customers, innovators and investors alike. Health Wearable Technology !4 Chapter 1: Introduction Background For years since the digital revolution, innovation on technological front in healthcare industry has been limited. The complete transaction between a customer and the healthcare organizations is a tedious process and the information system is unorganized. “Health Wearables” commonly called as activity trackers, are being developed by taking advantage of this revolution and thereby fueling the growth...
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...In contemporary healthcare, what is the role of information systems on productivity? Table of Contents Introduction 1 Literature review 2 Problem analysis and discussion 3 Electronic Health Records (EHR): 4 Computerized physician order entry (CPOE): 8 Conclusion 9 Recommendation 10 References 11 Introduction The healthcare industry is undergoing a drastic change in the modern world where the imprints of information technology (IT) are expanding and the combination of these two industries is leading to a new era of computerized hospital information systems. Baker (2008). The importance of information technology cannot be over emphasized for two major reasons, first, where a high level of accuracy is required (which can be fulfilled by digital mediums) and second, where a large size of transactional data exists and the requirement of analyzing this data supersedes (which can be fulfilled by having large databases and analyzing them using IT tools). There are numerous IT based applications in the environment and it has really become a challenge for the CTO of a healthcare facility to decide over the progressive plan for adoption of IT based systems in the purview of health information technology (HIT), computerized physicians order entry (CPOE), electronic health record (EHR) and many other similar programs found across the world. The primary question raised against any kind of IT investment is “how the proposed IT system will improve productivity...
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