The Role Of Different Factors In Medicare & Medicaid Services

Political factors

These factors play a major role in Medicare and Medicaid services due to the way their funding works. They receive their funding from federal payroll taxes, general tax revenues, and premiums paid by Medicare beneficiaries. This affects healthcare industries in many ways, both positive and negative. Tax increases needed to fund these services can negatively affect those paying into the system if they cannot afford a tax increase. However, it is beneficial to those who need Medicare or Medicaid services to have access to the care they need. Tax laws which does research and tracks development also has a positive impact on the healthcare industry. (Jacobson, 2015).

Economic factors

Factors that can be an economical threat is unemployment, since there would be a lack of payroll taxes to assist in funding Medicare and Medicaid services to the millions of recipients. Many of these recipients are unable to work due to age or disabilities, making it impossible for those individuals to pay into the system. This can negatively impact healthcare facilities since without funds for such services, the providers have less patients and ultimately less revenue since so many people do use Medicare and Medicaid as their insurance carrier. Lack of patients equals less healthcare job openings which can put a damper on payroll taxes as previously mentioned. (Jacobson, 2015)

Social factors

Social-cultural factors can relate to low-income patients with chronic conditions, or mental health patients not having access to services due to lack of insurance. This can negatively impact the community since many of these patients are unable to function and live an everyday life without their needed medications. Many areas do not have affordable clinics for low income clients. These types of clinics are especially hard to locate in rural areas since these areas sometimes lack even high cost clinics and hospitals. Without Medicare and Medicaid coverage for patients, many clinics would not stay open due to lack of revenue. (Jacobson, 2015).

Technological factors

Technological advancements in the healthcare are costly and many facilities depend on grants to pay for such, if they are unable to received grants they depend on revenue. Without enough revenue they are unable to purchase advanced equipment putting them behind other facilities and providers meaning, once again they may suffer a lack or patients and revenue. (Jacobson, 2015).

References:

1. Jacobson, G. (2015). The emerging role of private plans in medicare. Generations, 39(2), 78-84. Retrieved from http://nauproxy01.national.edu/login?url=https://search-proquest-com.nauproxy01.national.edu/docview/1701141058?accountid=36299
2. Landon, B. E., Zaslavsky, A. M., Saunders, R. C., Pawlson, L. G., Newhouse, J. P., & Ayanian, J. Z. (2012). Analysis of medicare advantage HMOs compared with traditional medicare shows lower use of many services during 2003-09. Health Affairs, 31(12), 2609-17. Retrieved from http://nauproxy01.national.edu/login?url=https://search-proquest-com.nauproxy01.national.edu/docview/1242469289?accountid=36299
3. Schultz, M., & Lyle, C. (2009). Health economic analysis. Applied Clinical Trials, 18(5), 40-42,44,46,48. Retrieved from http://nauproxy01.national.edu/login?url=https://search-proquest-com.nauproxy01.national.edu/docview/201439158?accountid=36299
4. https://www.cms.gov/
5. https://www.ahip.org/value-of-medicaid-access-to-care/
6. https://www.ehealthinsurance.com/resources/medicare-options/0-premium-medicare-advantage-plans
7. https://www.medicareadvantage2019.org/http://debojj.net/downloads/cms-electronic-health-record-incentive-program