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Running head: HEALTHCARE FUNDING
Healthcare Funding
Student’s Name
Institutional Affiliation
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HEALTHCARE FUNDING
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Healthcare Funding
Healthcare financing is an imperative system aimed at promoting the accomplishment of
universal health coverage. According to WHO (2020), health funding involves three primary
areas: raising funds to support health, alleviating financial obstacles to access healthcare through
prepayment, and out-of-pocket payment and executing or utilizing the funds to promote
efficiency and equity. Schieber, Baeza, Kress, and Maier (2006) noted that health financing
affords resources and the monetary incentives needed for operating the healthcare system
forming the critical factor promoting performance of health system by promoting efficiency,
equity, and excellent health results. The paper provides a board brief for the Acute Care Hospital,
advocating for additional funding to meet the patient’s needs, especially the uninsured and
underinsured.
1.1 Description of Funding Source in Healthcare Setting
Some of the currently accepted funding sources in the acute care healthcare setting include
private insurance, out-of-pocket funds, and government insurance programs (Schreck, 2020).
Private insurance entail funds disbursed by both profits and not-for-profit insurance companies
purchased by individuals and corporations as benefits for their employees. In this case,
individuals or corporations pay a monthly or annual premium, assuring the beneficiaries some
amount of money disbursed to cater to the insured person’s health needs and forming one of the
primary sources of funds in the acute healthcare facility. The second funding source for
healthcare settings is government insurance programs, such as Medicare and Medicaid. Medicare
funds the health of the aged, the incapacitated, and individuals with long-term treatment such as
dialysis. In contrast, Medicaid supports health care for an underprivileged person in the
communities living below the poverty level. Another source of funds to help the underinsured
HEALTHCARE FUNDING
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and uninsured patients is donor funding, a private fund managed by a third party to
administration charitable donations, funding the medical services for the families, individuals, or
corporations.
1.2 Description of the Benefits and Features of Funding Sources
The described sources of funding accepted by the acute care healthcare setting promote the
affordable care act. Some of the benefits of the defined healthcare funding include delivering in
and outpatient hospital-related services such as physician services, x-rays, and laboratory
services. Other benefits of financing sources include drug prescription, physical therapy, case
administration, and occupational therapy to seek medical attention in the healthcare setting. On
the other hand, the funding depicts various features, such as covering at least 1 out of 5
Americans. The go...