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Policy Research: John Hopkins Hospital
The University of Hopkins offers a care innovative center, a School of Medicine with a vast clinical
capacity, a depth of service provider knowledge, and skilled researchers, according to the
project's final milestone one. According to
Moglia, and Bardoel (2021)
, this center "allows the
hospital to create test and simultaneously put revolutionary solutions to health care." The center
welcomes entrepreneurs to join the effort to find effective solutions for healthcare for the
hospital and the whole globe.
The ability of the hospital to distribute its resources and evaluate market prices, which represent the
economic worth of the resources employed in patient care, is a sign of the healthcare industry's
financial health
(Dang, et al., 2021)
. The educational institution of Hopkins Hospital distributes
and invests money in different campaigns, including as research, buildings, and subsidy to the
population they serve, so as to make this a possibility and to enable them to achieve significant
goals and objectives.
When used in the field of health care, economic considerations are significant. The examination of
medical and health care concerns in health service research uses these ideas, for that reason. By
restricting the amount at the point of usage, these concepts are used to keep an eye on the
economic resources. The educational institution of Hopkins is improving its finances, health, and
other areas in terms of economic development
(Dang, et al., 2021)
.
In terms of the state, this
institution maintains to be a key driver of economic development by generating large numbers
of employment, luring millions of dollars for research, and bringing in more than $3 billion.
Strategic planning is used by the healthcare organization to produce papers that outline the ways in
which they want to move from their present predicaments to the intended future solutions. The
tactics may be used in long-term planning to increase professional skill competition, allowing
resident doctors to access and keep up with information by participating in this or that kind of
training
(Dang, et al., 2021)
. In the big cities, they are making sure that their employees are and
shall be exceptionally competent and trained experts.
By taking note of the organizations' strengths, limitations, opportunities, and the danger that they are
going to encounter in business, one may identify a strategy for nonprofit in a healthcare industry.
The healthcare system may fundamentally alter its market and leadership structures for profit in
order to increase profits and serve the general welfare
(Colimore, et al., 2020)
. In order to do
this, they must be ready to capitalize on innovation for the benefit of the general public and
their clients by coming up with fresh ideas that will address their requirements, societal
expectations, the value of innovation, and sustainable development.
Non-profit organizations will make sure to provide affordable, high-quality services, with the patient
paying a reasonable amount for the assistance given. To stay in the marketplace for a longer
period of time, they will produce value. In order to better the lives of patients as well as their
families, the University of Hopkins Health strategically integrates the assets of the top research
and community hospitals in the area with access to clinics all throughout the Front Range
(Goyal
& Chandra, 2020)
.
The University's priorities, as a non-profit, are centered on its mission
statement, which includes an array of educational community and utilizes knowledge to enhance
Hopkins' and the world's health and well-being. Enhancing the university's outstanding medical
services in order to become known as one of the top academic medical centers in the country is
one of the important strategic initiatives that have been devised.
Therefore, their cost of service will continue to climb as insurance companies will be maintaining the line
on the payment or sometimes cutting them. For profit healthcare organizations will be spending
the most of their time battling on how to maintain their patients from being tempted away by
their rivals
(Goyal & Chandra, 2020)
. Following are the economic distinctions between for-profit
and nonprofit organizations in terms of laws and regulations. While non-profit organizations
address it by offering tax breaks from their supporters so the patients are not taxed in any
manner, for-profit organizations would tax their patients in various ways to support the
healthcare system. In the case of nonprofit organizations, the hybrid companies will need to
stabilize their financial situation, while in the case of for-profit healthcare, they will be in a
position to give back to their community. And at the college of Hopkins Hospital, that is exactly
what is occurring.
The hospital has also shown that it does not depend on profit-making by using innovation to enhance
the quality of the services they provide. The hospital has seen various changes over the last fifty
years, which have altered how they evaluate and treat illnesses. For instance, although the
discovery of the antibiotic penicillin encouraged the use in healthcare in the treatment of
illnesses, the germ hypothesis allowed for the growth of health care
(Al-Sayedahmed, et al.,
2021)
. For vision 2020, the university of Johns hospital is collaborating closely with the academic
research community and the clinical care system.
Economic policy was used to encourage preschoolers to participate in health education because it was
believed in both instances that education was the solution to health disparity. This is how
inequalities in care and economic policy are related
(Dang, et al., 2021)
. By offering alternative
ways to pay for healthcare and by distributing revenue among nations and states that had high
death rates, they have contributed to raising incomes.
According to research, health inequalities between African Americans and Hispanics caused private
insurers an extra $5.1 billion in 2009 alone. This ultimately results in higher insurance costs for
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companies
(Al-Sayedahmed, et al., 2021)
. Eliminating health care inequalities is the appropriate
and wise thing to do in order to have excellent economic stability.
Health inequalities are
delaying the productivity of the population of the nations by putting a sudden strain on the
financial system and a heavy load on health-related concerns.
Ethnic and Racial minorities often get care that is of lower level of quality than that provided to
nonminority as a result of economic policies that vary with regard to inequities in medical care
and the identification of chronic illnesses. Persons with gaps in care face the danger of not
having health insurance and having limited access to medical treatment; this disproportionately
affects persons of color and low-income groups
(Dang, et al., 2021)
. On the contrary hand, the
establishment of insurance plans and the development of work prospects have both had an
important impact on this inequality
(Goyal & Chandra, 2020)
.
Opportunities for employment
have increased income levels, improving accessibility, and insurance policies have reduced the
cost of treatment.
Regarding how legislative changes influence healthcare economic policy, private insurers, federal and
state efforts, and technology all have an effect on how financial resources are allocated in the
healthcare sector. A medical treatment management plan was developed by the Medicare
Modernization Act, which improved the Affordable Care Act's rules on the payment of medical
services
(Al-Sayedahmed, et al., 2021)
. The judicial and legislative branches have had an impact
on the healthcare sector by ensuring that people contribute to its growth. The state has
permitted its residents to buy health insurance, and if they choose not to, they will be subject to
fines. The Affordable Care Act, commonly referred to as (Obamacare) was a set of laws with the
primary goal of enhancing patient care by enticing Americans to enroll in insurance plans. The
majority of people now have easier access to healthcare thanks to insurance programs. Political
aspects mostly concentrate on a country's stability in addition to how the federal government
influences this sector.
This idea is especially applicable to developing countries since they may
experience issues like violence or ethnic conflicts that have an impact on components of
healthcare like the supply of medical supplies.
The differences in care that are taken into account in strategic planning for the healthcare industry have
increased prospects for improving health via extending access to healthcare and supporting
healthcare delivery methods. For instance, by tackling social and economic factors of healthcare
delivery and payment efforts, Medicaid insurance has long serviced a varied population with
health challenges. In terms of the environments in which individuals are born, develop, live, and
work, social variables have an influence on health outcomes
(Dang, et al., 2021)
. Access to
healthcare has been aided by variables like education, employment, or social support networks.
According to the National Partnership for AA, "Health disparities harm categories of people who have
consistently faced greater interpersonal or economic barriers to well-being and cleanliness
centered on their ethnic or racial, group, faith, socioeconomic status, gender, age, mental health,
sensory, cognitive, or physical impairment, sexual preference or gender identity, geographic
location, or other characteristics formerly associated with discrimination or exclusion"
(Moglia, &
Bardoel, 2021).
The Hopkins Hospital is focusing on lowering the elevated levels of morbidity and mortality that is
suffered by the poor and requires immediate action that will bring about the biggest boost in
health. The hospital is aware of the issues that residents would face as a result of the health
disparities. In other words, this is one of the top priorities.
References
Moglia, M., Hopkins, J., & Bardoel, A. (2021). Telework, hybrid work and the United Nation’s Sustainable
Development Goals: Towards policy coherence.
Sustainability
,
13
(16), 9222.
Dang, D., Dearholt, S. L., Bissett, K., Ascenzi, J., & Whalen, M. (2021).
Johns Hopkins evidence-based
practice for nurses and healthcare professionals: Model and guidelines
. Sigma Theta Tau.
Colimore, S. L., Allen, L., Lawrence, Z., Iarrobino, N., Kavouriou, S., Betre, A., ... & Webb, H. (2020).
Johns Hopkins Medicine responds to COVID-19: Adjusting patient-family-and staff-centered
care.
Patient Experience Journal
,
7
(2), 118-124.
Goyal, N., Venkataram, T., Dash, C., & Chandra, P. P. (2020). Letter to the editor regarding:‘Impact of
COVID-19 on an academic neurosurgery department: The Johns Hopkins experience’.
World
Neurosurgery
,
143
, 599.
Al-Sayedahmed, H., Al-Tawfiq, J., Al-Dossary, B., & Al-Yami, S. (2021). Impact of accreditation
certification on improving healthcare quality and patient safety at Johns Hopkins Aramco
Healthcare.
Global Journal on Quality and Safety in Healthcare
,
4
(3), 117-122.
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