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Why is business important to healthcare?

The Goals of Healthcare

There are four main goals that every healthcare system should be targeting to continually improve. When selecting new technology, these these points should be top of mind.

  • Be able to access to healthcare, continually enhancing the patient experience to encourage patients to play an active role in their care
  • High quality care, continually improving population health by preventing and managing widespread chronic diseases that are costly
  • Cost effective, continually improving on reducing waste (unnecessary tests, transfers, etc.)
  • Improve the work lives of the providers to allow their full attention to be on the patient while reducing burnout.

 

When we start integrating business into healthcare we start talking about access and financing. Access is how the patients receive the care when it’s needed. There are sometimes limits to access not limiting to not having a provider, wait time to see a provider, or lack of funds to see a provider. The most controversial part of healthcare comes when we start asking who should finance the services. Finances can come from a variety of sources including, insurances, government, or out of pocket. Access restrictions as well the multitude payment options causes inefficiencies in the system that needs to be managed by business managers. 

In the United States, healthcare access is limited to those who have insurance (paid by employer, government, out of pocket), pay for the service themselves, or access free providers. 

The services a patient receives are predetermined by how they can pay, which creates an unequal access to the same quality of care. Meanwhile technology, innovation, and quality are often perceived as world leading, making for a complex dynamic between these access and finances. When carrying out planning, day to day operations or management, an acute awareness of the changing environment is necessary to ensure that financials are balanced properly.

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