Q.1.What do you mean by financial management of health care organizations? Identify key elements that are driving changes in health care delivery.

Q.2. Explain goals of the health care system in detail.

Q.3. Discuss the factors affecting the cost of care in health care sector.

Context of Health Care Financial Management Chapter 1 Learning Objectives Identify key elements that are driving changes in health care delivery Identify key approaches to controlling health care costs and resulting ethical issues Identify key changes in reimbursement mechanisms to providers Lowering Costs Patient Protection and Affordable Care Act (ACA) CMS trying to control rising costs Value Based Purchasing (VBP) Goals of the Health Care System Access Cost Quality Changing Methods Of Health Care Financing and Delivery Requirement that almost all individuals have insurance coverage Requirement that states create insurance exchanges Provisions for expansion of Medicaid Provisions for medical loss ratio and premium rate reviews Bundled payments and VBP Accountable Care Organizations Trends Rise of uninsured from 36 million to 50 million 2001-2010 ACA authorizes competitive insurance marketplace Rise of uncompensated care for the uninsured 2001-2011 Accountable Care Organizations Patient Centered Medical Home New technology VBP Factors Affecting the Cost of Care Impacts to Reimbursement Cost Accounting Systems Group Purchasing Organizations Reengineering/Redesigning Mergers and Acquisitions Retail Health Care Medical Tourism Compliance Recovery Audit Contractors (RACs) VBP New DRG System ICD 10 Summary Health care administrator faces numerous complex issues when making strategic and financial decisions. High ethical standards must be demonstrated