MOD004068 Managing Healthcare Finance - Free Samples to Students
Answer:
Introduction
In our contemporary society policymakers are concerned with the incentive structure in the health care system. Typically, pay for performance refers to a form of payment that is aimed at enlightening the overall value, efficiency and quality of healthcare (Cleverley, & Cleverley, 2017). The approach provides incentives to physicians and infirmaries so that they can achieve the most exceptional outcome for patients. The paper seeks to explore the pros and cons of pay for performance.
Pros and Cons of Pay for Performance
Pay for performance is a popular payment approach in health care because there has been a shift from rewarding the volume of work done to paying efficiency and quality. According to Mendelson, et al., (2017) Pay for performance is essential as it improves the overall delivery of quality care. For instance, the approach facilitates follow-up and vigilance. Thus, it adorns patient satisfaction. Also, performance bonuses can be invested in improving healthcare services. On the other hand, the critiques claim that pay for performance will destabilize health care providers intrinsic motivation to efficient and quality care for their patients.
Moreover, pay for performance can also impose penalties on physicians who fail to achieve specified standards, thus enhancing quality care. However, the program is challenging to design because it will be hard to encourage expected behavior and discourage unintended performance. Recent studies have shown that pay for performance encourages behavior such as avoidance of high-risk patients and cheating (Mendelson et al., 2017). Also, this kind of payment may fail to persuade organization level changes to improve population health.
Conclusion
Pay for performance is a practical approach of payment because it provides burnouse to health care providers when they exceed or meet agreed-upon performance measures. However, the critiques argue that the program will encourage behavior such as avoidance of high-risk patients and cheating.
Reference
Cleverley, W. O., & Cleverley, J. O. (2017). Essentials of health care finance. Jones & Bartlett Learning.
Mendelson, A., Kondo, K., Damberg, C., Low, A., Motúapuaka, M., Freeman, M., ... & Kansagara, D. (2017). The effects of pay-for-performance programs on health, health care use, and processes of care: a systematic review. Annals of internal medicine, 166(5), 341-353.
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