According to Baron and Davis (2014), there are two approaches assessed to sustain and improve the quality, financial health, efficiency and stability of Medicare: premium support and continuing Medicare as an essential benefit by building an Affordable Care Act.
Nanof (2016), argued that approach of continuing guaranteed benefits and rewarding physicians and hospitals for efficiently providing high-quality care. By doing this, it creates a high potential to achieve the needed budgetary savings while reducing financial risks to beneficiaries.
Baron and Davis (2014) argued that the approach above builds and retains on the innovations in the very Affordable Care Act. The primary objective of Karen Davis is converting future Medicare to a premium support or continuing as a guaranteed benefit program. According to Nanof (2016), the program provides access to care and financial protection for over fifty million people both seniors and disabled beneficiaries which contribute to the program substantially to medical expenses through premiums and supplemental coverage.
Repeal and premium support of the Affordable Care Act holds that patients are best positioned to eliminate the overuse of services. Medicare is a very critical public program, working for beneficiary far more inferior, sicker, and more expensive to care for. Baron and Davis (2014) found that nearly half of recipient reports income less than two hundred percent. In Eight federals there was poverty level of $21,780 in the year two thousand and eleven. A significant proportion of Medicare beneficiaries has functional impairment including seventeen percent disabled under age of sixty-five.
According to Nanof (2016), Medicare program outperforms private Medicare Advantage plans. Medicare compares the level of standards of living among the people thereby providing them with a bit cheaper healthcare project that can be accessed by everybody since it is financially affordable even by the more unfortunate individuals in the state of people. The cost of administration in Medicare average is less than three percent of expenditure compared to that of five percent to fifteen percent of premiums in many of large employer plan.
According to Baron and Davis (2014), if we compare Medicare and the federal budget, in many ways, it is a low-cost program; its actuarial value is less than that of typical employers plan having lower administrative cost. It uses its leverage as a major purchaser to get goods rates from physician and hospitals while still enjoying the widespread provider participation.
Baron, R., & Davis, K. (2014). Accelerating the Adoption of High-Value Primary Care A New Provider Type under Medicare. New England Journal of Medicine, 370(2), 99-101. http://dx.doi.org/10.1056/nejmp1314933
Nanof, T. (2016). The Facts about Treating Medicare Beneficiaries. ASHA Leader, 21(7), 28. http://dx.doi.org/10.1044/leader.bml.21072016.28
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