Healthcare Financing and Reimbursements

Healthcare problems pertaining to financing and reimbursement

Introduction

The significance of financing and reimbursement in a healthcare organization is extremely crucial. Within the United States of America the Health Information management (HIM) plays a critical role in the delivery of financing and reimbursement, in order to be fully effective they need to be thoroughly aware of the health reimbursement system, methodologies and processes of the whole health care industry. The principle of health care reimbursement and Financing is in accordance with the US health care payment systems into one whole authoritative source. It examines the complex financing systems within the existing healthcare environment (Casto and Layman, 2006).

The complexity of the healthcare reimbursement system is considered extremely threatening to the future of medicine, since each hospital has multiple providers of healthcare services. Generally health care reimbursements are only offered to those patients having health insurance. Health insurance is a method of reducing a patient's constant risk of loss and therefore has a third party (insurance company) assumed the risk.

The term reimbursement actually means the compensation or repayments for healthcare services. Reimbursement is the compensation for expenses for services that have already been availed.

The reimbursement method at McLaren Northern Michigan is simple; for any service availed the patient's insurance carrier id sent the bill if there is any remaining amount not covered by the insurance policy the payment has to be made by the patient

Discussion

The alignment of the internal strategic planning and human resource in respect to healthcare services is extremely necessary However at McLaren Northern Michigan there are some internal issues that affect the whole reimbursement process. Generally the healthcare organization is able to cater all financial needs and every patient is catered to in terms of their own insurance policies. The financial planning is also effective at McLaren North Michigan ...