Financing health care Research Paper Example | Topics and Well Written Essays - 2250 words

Financing health care - Research Paper Example Different healthcare packages favor different age groups and citizens; there is no one whole package that caters for every citizen in the country. For example, in the U.S, the government funds Medicare, which caters for the elderly and the disabled and Medicaid, a package for the low income earning citizens. The different methods of financing healthcare have their own pros and cons and are, thus, suitable in different circumstances, hence, individuals can choose the ones they want. This paper analyzes different approaches of financing healthcare including Medicare, Medicaid and social security programs, and their suitability. In this structure, health care is generally offered by private organization and the system is prone to high levels of business competition. The people insured can have their own will to choose which company serves their needs best and the ones that are pocket friendly to them. Doctors are the ones who decide when and whom the treatment should be used for and are at will to make the decisions of case basis in view of the needs of every individual that is in need of these health care facilities. The first disadvantage of this system, where the patient and their physician have freedom of choosing these services that would best suit their client, is that there may raise a case of service duplication since care coordination will be hard to achieve. The biggest advantage of market-based system is improvement is mostly superior and new discoveries are easily available to patient after a short while, as these system mainly offer financial incentives for coming up with new medical improvemen ts. Some people may not have admission to the health care system and services they need since there may not be an adequate provision that ensures a more basic level of covering the health of an individual. As a result, this system offers a safety net curriculum that includes the