Saturday, September 22, 2018

US Healthcare Industry - Various stake holders

There are six major entities,
  1. Regulators and Policy Makers
  2. Payers
  3. Advocacy Organizations
  4. Providers
  5. Suppliers
  6. Consumers
1)      Regulators and policy makers
       At the top of the pyramid, the federal government sets the tone for the entire system. Many other entities have been formed over the years in response to the need for control over various areas of the healthcare industry. Today, the most influential regulators include the U.S. Department of Health and Human Services (HHS), the Centers for Medicare and Medicaid Services (CMS), the Food and Drug Administration (FDA), and the Centers for Disease Control and Prevention (CDC). These entities have been charged to interpret, implement, and ensure compliance with the current laws of the United States that affect and govern the healthcare industry. The scope of regulatory influence of these entities is determined by the laws they enforce. At the state level, state legislatures, state and local governments, health departments, state medical boards, and state insurance commissions also play significant roles while functioning within federal regulations. Nevertheless, state governments have been successful in introducing unprecedented moves that go beyond federal mandates for healthcare policy; for example, Massachusetts Was able to mandate health insurance coverage for all its citizens in 2006.

2)     Payers
      Financing in the U.S. healthcare system can be broken down into payments made by the public sector (the federal government, state and local governments), the private sector (private insurers and businesses), and the consumer (out-of-pocket expenses and self-pay). Public funding of the U.S. healthcare system includes federal sources, such as Medicare and Medicaid programs, the Veterans Administration, and the U.S. Department of Defense, and state and local programs, such as Medicaid and state and local hospitals. Private funding includes out-of-pocket expenditure, private insurance, and philanthropy. As can be inferred from this list, many of these payers have other capacities and exert substantial influence in other areas of the U.S. healthcare system through policy making (e.g., CMS) or through advocacy groups and lobbying (e.g., private insurance companies).

3)      Advocacy organizations
      This category encompasses organized efforts of smaller entities in the healthcare system around a common interest that is frequently self-serving. Examples of these groups include the American Medical Association (AMA), the American Society of Clinical Oncology (ASCO), the American Hospital Association (AHA), the American Nurses Association (ANA), America’s Health Insurance Plans (AHIP), and the National Patient Advocate Foundation (NPAF).

4)      Providers
      This category includes all individuals and organizations that provide a healthcare service to the consumer. As such, it includes health practitioners, hospitals, nursing homes, and other similar entities. Although health professionals are central to the specific entity that actually provides care, hospitals, in particular, offer the environment in which care can be provided and are compensated by payers for the services provided. It is in the hospital setting that a substantial portion of healthcare resources are consumed. Individual practitioners, practice groups, general hospitals, specialty hospitals, ambulatory facilities (surgery, imaging, etc.), and integrated healthcare systems are also examples of providers.

5)      Suppliers
      This category includes pharmaceutical companies and medical equipment companies. These entities have grown to be a significant part of the healthcare system and are in fact considered industries of their own. Although suppliers are integral to the healthcare system, the nature of their business is different. Like private insurance companies, most of these organizations are for-profit and publicly traded companies and exist in a different competitive environment. Unlike the payer category, the amount of not-for-profit activity in this category is small.

6)      Consumers
      People, whether sick or healthy, are consumers of care. In the industrialized world, one would be hard pressed to find anyone who has never received any care within a healthcare system. Consumers of healthcare services are somewhat different from consumers in other sectors of the economy.
Two primary differences are
(1) healthcare consumers often have to depend on the advice of a physician in  making a health services “consumption” decision, and
(2) in most instances, the consumer is unaware of the full costs of his or her choice because of the intermediary function of payers even though there may be a significant out-of-pocket
      component of the full cost.

To know more about financial spending refers US Healthcare Financial Spending Across all Entities

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