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400279 Health Services Financial Management

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400279 Health Services Financial Management

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400279 Health Services Financial Management

0 Download3 Pages / 582 Words

Course Code: 400279
University: Western Sydney University

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Question:

1) Explain the difference between revenue and expenditure in health system?
2) What is activity based funding and how are funding allocations determined in the NSW health system?
3) Describe casemix and the Australian DRG system of classification?

Answer:

The income received by the government from various sources is known as revenue. As provided by the law, health structures revenue is obtained from borrowings, fees or commonwealth. The general clinical and administrative functions that lead to the capturing, collection and management of costs for the patient services contribute to the revenue. The procedure works predictably if the process of collecting revenue by health systems is correctly executed. However, challenges at the initial stage may have a tremendous negative impact. On the contrary, health structure expenditure is the total spent funds on various products or services (Duckett & Willcox, 2015).
Health spending includes the health-related and health expenditures. Health structure spending may be explained based on the predominant or primary purpose of developing health services notwithstanding the significant activity or function of the entity paying or providing for the concerned health services. Health structure expenditure may consist of the yearly appropriations which make way for the distribution of funds annually to the health systems (Yuen, 2018).
Another way of funding health facilities is through Activity-based funding whereby, providers of services are given funds depending on the amount and type of services rendered and also the population of complex patients they have served. Funding reform is a recent technique to performance, funding, and purchasing of health care services in NSW. Funding to local health Districts is to be allocated through combined financing depending on the activity of the patient and block funding grants. Local health systems should collect better data that is to be used at the state and local level to manage and monitor budgets and performance.
Managers of health services work together with clinicians and local communities to make sure that the developed funding model performs effectively. Moreover, ABF management tool enables in assessing and planning performance, and the effecting of clinical requirements as the healthcare management may distribute funds basing on the precise levels of patient services not just where and how taxpayer money will be allocated (Angus & Valentijn, 2018).
Casemix classes offer the concerned healthcare industry a compatible technique of arranging kind of patients, associated costs and treatment. Casemix is the mixing of types of patients a hospital has treated or another hospital. Casemix arrangements aid in defining the relationship between costs and health care activities to fashion clinically essential patients which elaborates the imbalance in the use of resources. The AR-DRG arrangement technique is applied to classify critical patients admitted. Every patient admitted to the healthcare facility have different diseases and for an approach was conducted during registration and coded ICD-10-AM/ACHI/ACS. An expert clinical coding staff conducts coding. The encrypted data together with patient’s demographic information which include age, patient’s duration of stay and sex help in an allocation of critical patients to be admitted to the AR-DRG group. The DRG undertaking is conducted either by the hospital, clinical coder or recognized health authority (Wang, Kung, Wang, & Cegielski, 2018).
References
Angus, L., & Valentijn, P. P. (2018). From micro to macro: assessing the implementation of integrated care in Australia. Australian journal of primary health, 59-65.
Duckett, S., & Willcox, S. (2015). The Australian Health Care System. Melbourne: Oxford University Press.
Wang, Y., Kung, L., Wang, W. Y., & Cegielski, C. G. (2018). An integrated big data analytics-enabled transformation model: Application to health care. Information & Management, 64-79.
Yuen, P. P. (2018). The Economics of Long-Term Care: Key Concepts and Major Financing and Delivery Models. In Sustainable Health and Long-Term Care Solutions for an Aging Population, 1-8.

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