- June 5, 2020
Nobusiness or organization can perform well without money whether itis a profit making or non-profit making organization. Just like theway human body needs blood to survive, enterprises also require moneyto thrive. Therefore, it is practically impossible for the healthcareindustry to run without focusing on the revenues that it gets (Vanden Berg et al., 2014).
Theleaders of the healthcare industry should resolve that caregivingshould be dealt with as a commercial good but not as a socialcommodity for two main reasons namely, the quality and payment ofbills. If patients need high-quality services from the caregivers,then they have to pay for the services (Van den Berg et al., 2014).The money that is collected during consultations, clinics orlaboratory tests is used to motivate doctors so that they can offerpatients with the best services that they can. The physicians will beon a high spirit to treat patients even during overtimes, but theyhave to be paid for services. Besides, some of the money is used topay casual laborers who are often hired as cleaners so that thehospitals remain hygienic.
Thehigh-level executives in the health care are supposed to ensure thatthey integrate strategic plans in the way they allocate the availableresources. By doing so, they will be balancing the tradeoffs betweenthe financial solvency of hospitals while still providing qualityservices to patients. Strategic planning will ensure that theavailable resources are used prudently so that some funds can be usedto subsidize the consultation fees.
Tosum up, it would be difficult for the healthcare industry to makecare services be social goods since that would lower the quality ofservices that the patients expect. Instead, the industry should applyfrugality in the way that it utilizes the available resources so thatit charges small fees.
Vanden Berg, B., Fiebig, D. G., & Hall, J. (2014). Well-being lossesdue to care-giving. Journalof health economics,35,123-131.