Question

Please answer the following question in 350 words count in your own word please add reference from internet source or google scholarly at the end of the question

This assignment will require you to consider several influences to the budgeting process of a health care institution. Here, you will review payer mix and other influences to revenue as you consider revenue factors for the budget. Complete the following for this assignment:

• For a health care organization of your choice (real or hypothetical), describe the type of organization, and determine the payer mix of patients served (percentage of Medicare, Medicaid, private insurance, managed care, and private pay).

Answer 1

Answer:-

Flexible budget is better than a static budget. This is because the organization has to use the available funds rather than the funds given by the government or even private sectors. It is important for the organizations to cut down the unnecessary costs and invest in long term investments. In a fruitful association it needs to utilize both long haul and momentary methodologies to create more incomes (Saïdi, 2011). By utilizing the accessible assets inside the association the association can almost certainly produce more incomes. At the point when contrasted and static spending plan, there is currently moderate procedure in repayment of the assets thus expanding the proficiency of the association. Likewise the association needs to contribute a greater amount of its assets on the exercises that bring more income. Another strategy to employ is for the organization to enter into group purchase with other organizations. This will help cut down the purchasing cost at a higher rate. The organization can also attract potential investors through the good image of the company. This can help generate more funds to the company.  Another system is for the association to think of increasingly productive administrations. This can incorporate creation of value items and administrations by doing as such the association will almost certainly draw in more clients.

One of the first direct comparisons of billing complexities between various types of payers found that Medicaid fee-for-service (FFS) programs were the most challenging for providers. The examination of 37.2 million 2015 doctor practice visits, which produced 44.5 million cases, found that it took twice as long for a FFS Medicaid guarantee to be handled and paid contrasted and a FFS Medicare guarantee. Medicaid asserts additionally had multiple occasions the refusal rate of Medicare claims, as indicated by the investigation distributed April 2 in Health Affairs.

The share of claims that were challenged across different insurance types ranged from 6 percent by private insurers to 18 percent by FFS Medicaid.

The denial rate for FFS Medicaid was 17.8 percentage points above the rate for FFS Medicare, while Medicaid managed care’s denial rate was 6.1 percentage points above FFS Medicare.

FFS Medicaid took 19 days longer to arbitrate claims than did FFS Medicare, as indicated by Joshua Gottlieb, a personnel investigate individual at the National Bureau of Economic Research, and his co-creators.