(1)
(There are several advantages and disadvantages of various revenue sources as payment for services rendered in health care (e.g., managed care, prospective, retrospective).
- What do you believe are the primary advantages and disadvantages of having multiple revenue sources for health care services offered by an organization for planning and reporting purposes?
In the healthcare organization, there are different revenue sources as payments. There are plenty of advantages and disadvantages when it comes to having multiple revenue sources. Some of the things that come with having various revenue sources as payment for services rendered are:
- Fee-For-services-with this payment option, reimbursement for specific, individual services provided to a patient, as each specific service
- Capitation- with this payment option, prepayments to physicians or medical groups are given based on predefined services.
- Pay for Performance Model- this is payment or financial incentive that is associated with meeting defined and measurable goals that are related to care processes and outcomes, patient experience, resource use, and other factors
- Retainer Based/Concierge based model: this payment option requires patients to pay an upfront fee. (Pros and Cons of Various Payment Models and their Effect on Practices. (n.d.)
Sometimes when you look at the pros and cons, you come across one thing you may not like. Some options may be more flexible than others. Other factors could include the risk with theses options. The good thing about having multiple options is that you can, sometimes, choose which one will best benefit you.
Resource
Pros and Cons of Various Payment Models and their Effect on Practices. (n.d.). Retrieved January 29, 2021, from https://www.medicalbillersandcoders.com/articles/practice-administration/pros-and-cons-of-various-payment-models-and-their-effect-on-practices.html
(2)
The primary advantages associated with a couple of assets of sales for the health care services furnished via an agency for the making plans and reporting purposes include delivered protection ought to any sales supply stops unexpectedly. this may make sure that the planning and reporting methods do now not halt all of a sudden. further, multiple revenue sources enable the health care agency to fight cyclical nature of the operations of the health care, which varies across the 12 months. However, a couple of assets of sales have some disadvantages to the health care. With many sources of revenue, a health care corporation calls for greater control which can also entail looking for additional personnel with the obligation of handling the incomes. moreover, a couple of sources of sales to a fitness care employer diffuse the lesser awareness from one vicinity of high success probability into the scattered beam of the ineffectual light. In essence, more than one sources of sales needs restricted energy and time and this could affect the main enterprise of the fitness care of offering care. A couple of supply of revenue means that the health care can have a much wider base of earnings to assist its operations, thereby preventing slowdowns or whole closure at some stage in monetary downturn. though, those multiple assets can diffuse and divert the attention, energy and time of the health care corporation from its fundamental center objective of presenting care. There are a lot of disadvantages and challenges in the health care services that is offered. Per my research, “Primary care is the first point of contact with health services and provides a point of entry for the entire health system. Research has shown that access to primary health services is linked to better health outcomes, including improvements in self-rated health and a reduction in all-cause mortality.”
Smith, Y. (2019, February 27). Benefits of Primary Health Care. Retrieved January 27, 2021, from https://www.news-medical.net/health/Benefits-of-Primary-Health-Care.aspx