UMUC Health Care Needs Competition Article Review

View attached explanation and answer. Let me know if you have any questions.1Competition in Health CareStudent’s NameInstitutional AffiliationCourse Name and NumberProfessor’s NameDate2Competition in Health CareDepending on the organisation of the healthcare sector, dissimilar strength ofcompetition is probable on the side of the agent of demand for medical services. The article isvery clear on this and as explained by the author in his article, Health Care Needs RealCompetition, authors highlighted that affordable health care (Obamacare) had brought aboutmore access to health care by the American citizens. However, the health care system had notimproved much. Despite the efforts and tireless work the healthcare system’s stakeholders weredoing to bring improvements and positive changes in the sector; healthcare remainedunreliable, chaotic, and insufficient. The authors mention that many ideas can bring about asolution to the matter. Among these ideas, the best of them is bringing competition to the healthcare sector (Dafny, & Lee, 2016). The other aspects of the economy had competition, and it hadbrought about reliability, affordability commitment by the providers to deliver, giving clientsoptions, improved innovation. Health care should not be left behind in this. This is articlereview that gives an analysis majoring mainly on the relevance of the current healthcarestrategic financial management environment.RelevanceWhat is Hindering the Competition?For a firm or organization in health care to compete, they should provide top-qualityservices to the patients/clients at a lower price than their competitors (Dafny, & Lee, 2016).This way, the clients will always choose them over the other options. This, therefore,improving the quality alone is not enough without making the price lower. As well, loweringthe cost without improving the quality of the service will not be good enough. The two aspects3should go along. If an organization has improved the quality, but the price remains high, theclients will opt for any other alternative offering the same quality and at a relatively lowerprice. At the same time, if an institution lowers the price but the quality remains poor, the moresignificant portion of patients will opt for an alternative offering a higher rate, even if it costsmore, as far as they can afford it. This said, the quality comes first and the price second. Thereare other measures the organizations should put in place to ensure that they can compete. Theseinclude; efficiency, client satisfaction, and no delays (where customers wait for hours in queueswaiting to be attended to or, at some point, going home without being served). Various aspectshinder the competition;Limited Reimbursement-based IncentivesThe healthcare payment system does not reward organizations that deliver qualityservices, nor does it punish the institutions that don’t deliver quality. A service provider willalway…

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