Prof Name Course Name Student Name Capella University Assessment 3 Business Case for Change NURSFPX com June 1 2024 Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing Call Us Now 516 218 0006 Email us at Contact nursfpx com Website NURSFPX com For Free MSN Sample NURSFPX com free Sample The Economic Dilemma in Healthcare and Its Potential Ramifications NURSFPX com For individuals inadequate insurance coverage leads to financial strain and limited access to healthcare posing risks to their well being Peng Zhu 2021 For organizations this issue results in increased healthcare costs and decreased productivity due to absenteeism or reliance on expensive emergency care Karpman et al 2021 Communities face challenges such as the spread of diseases and higher healthcare expenses especially in the absence of preventive care The economic challenges in healthcare have widespread implications for individuals healthcare providers organizations and communities The lack of accessible and affordable health insurance impacts more than just financial burdens it affects health and productivity across various sectors McKinsey 2022 Individuals without adequate insurance often face financial hardships and limited access to healthcare services Without insurance people may have to pay out of pocket for healthcare leading to delays or avoidance of necessary medical care which can worsen health problems over time Peng Zhu 2021 Healthcare organizations bear the financial burden of treating uninsured individuals which can increase costs and potentially raise premiums for employee insurance Karpman et al 2021 Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing Call Us Now 516 218 0006 Email us at Contact nursfpx com Website NURSFPX com For Free MSN Sample NURSFPX com free Sample Reduced productivity may also result as uninsured employees are more likely to miss work due to illness or resort to costly emergency care negatively affecting organizational efficiency Feasibility and Cost Benefit Assessment The World Health Organization WHO highlights the need for action to improve access to essential healthcare services reduce costs and enhance productivity through affordable insurance provisions WHO 2019 Therefore concerted efforts are necessary to ensure universal access to affordable healthcare coverage regardless of income or social status Addressing the economic challenge of providing accessible and affordable health insurance requires a careful analysis of feasibility and cost benefit Feasibility involves assessing the practicality of implementing affordable insurance considering factors like the political climate economic conditions and resource availability Illinois Government 2021 The Affordable Care Act ACA serves as a case study demonstrating the challenges in implementation despite its goal to expand coverage Campbell Shore Sheppard 2020 From a cost benefit perspective while implementing affordable insurance requires an initial investment the long term benefits include reduced healthcare costs and improved health outcomes King 2020 Research shows that the ACA s coverage provisions significantly reduced the annual cost of uncompensated care for uninsured individuals highlighting potential long term savings Karpman et al 2021 Additionally the ACA led to increased preventive care services underscoring the value of cost effective healthcare solutions NURSFPX com partnerships can provide a stable financial foundation and reduce reliance on fee for service models Kosala Heengama 2019 improving healthcare delivery efficiency can alleviate financial strain and enhance sustainability Sturmberg Bircher 2019 unexpected events and implementing risk management strategies can help navigate financial risks effectively Auditboard 2021 Diversify Revenue Streams Exploring alternative revenue sources such as grants or Enhance Cost Management Negotiating lower prices for services and supplies and Implement Risk Management Strategies Developing contingency plans for Healthcare organizations can mitigate financial risks through several strategies Mitigating Financial Risks Supporting Evidence Based Research Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing Call Us Now 516 218 0006 Email us at Contact nursfpx com Website NURSFPX com For Free MSN Sample NURSFPX com free Sample Evidence based research supports these strategies showing their effectiveness in improving financial performance and sustainability in healthcare organizations Truong 2022 Carney 2020 Guidance from agencies such as the Agency for Healthcare Research and Quality further informs risk management strategies in healthcare settings Sturmberg Bircher 2019 Conclusion Addressing the economic challenge of affordable healthcare insurance requires a comprehensive approach that integrates feasibility assessments cost benefit analyses and risk mitigation strategies Evidence based research provides valuable insights to inform these strategies contributing to the development of effective and sustainable solutions NURSFPX com Agency for Healthcare Research and Quality 2021 Developing and implementing a risk management plan AHRQ patient safety network AHRQ gov https psnet ahrq gov primer developing and implementing risk management plan Auditboard 2021 February 18 10 Types of risk management strategies to follow in 2021 Www auditboard com https www auditboard com blog 10 risk management strategies 2021 Campbell A L Shore Sheppard L 2020 The social political and economic effects of the Affordable Care Act Introduction to the issue RSF The Russell Sage Foundation Journal of the Social Sciences 6 2 1 40 https www jstor org stable 10 7758 rsf 2020 6 2 01 References Do you need Help to complete your Capella Uni MSN FlexPath Class in 1 Billing Call Us Now 516 218 0006 Email us at Contact nursfpx com Website NURSFPX com For Free MSN Sample NURSFPX com free Sample Carney K J L 2020 Practitioner application Journal of healthcare management 65 1 71 72 https doi org 10 1097 jhm d 19 00237 Georgetown University 2019 Cultural competence in health care Is it important for people with chronic conditions Health Policy Institute Health Policy Institute Georgetown University https hpi georgetown edu cultural Illinois Government 2021 Feasibility report for coverage affordability initiatives in Illinois Illinois gov https www2 illinois gov hfs SiteCollectionDocuments 04022021FeasibilityStudyReportFinal pdf