Columbia/HCA Healthcare Services Companies Columbia/HCA is one of the largest healthcare services companies in the United States. Founded in 1987, the company sought to provide one-stop shopping for managed care providers. In 1996, Columbia/HCA managed 314 hospitals, approximately 7 percent of hospitals in the United States. The company also conducts operations in the United Kingdom, Spain, and Switzerland, and recorded more than 40 million patient visits in 1996. Environmental factors affecting the healthcare industry Access to healthcare is not a legal right in the United States as it is in Europe, Canada and most other industrialized nations. In the rest of the world, access to healthcare is a right for all citizens paid for either by social insurance funds with member and employer contributions or from tax funding. The cost of health insurance and medical care has ballooned; therefore, increasing numbers of individuals have been forced to forego medical care because they could not afford health insurance, or the expense of uninsured medical care. In 1992, there was an estimated 36 million U.S. residents without health care insurance. The predominant demographic issue affecting the healthcare industry in 1997 was the aging of the population. However, culturally, increased emphasis is being placed on healthy lifestyle choices, including both healthy eating and exercising. Politically, President Clinton’s health care reform proposal is an issue of growing concern. The proposal was criticized as being too sweeping and complex in nature, resulting in its failure. The health sector’s share of the U.S. economy has reached approximately 14 percent of the gross domestic product in 1992, and it is predicted... ... middle of paper ... ... Financial Analysis with respect to competitors Columbia/HCA’s major competitors include Tenet Healthcare, Humana Healthcare, Apria Healthcare, and PacifiCare Haelthcare. Both Tenet and Humana operated in several states within each goegraphic region of the United States. Both companies also competed head to head with Columbia in the hospital management field. During the fourth quarter of 1999, sales at Columbia/HCA Healthcare totalled $3.94 billion. This is a decline of 10.8% from the $4.42 billion in sales Columbia had during the fourth quarter in 1998. During the year ended December of 1999, sales at Columbia/HCA were $16.66 billion. This is a decrease of 10.8% versus 1998, when the company’s sales were $18.68 billion. While Colmbia’s sales decreased in 1999, Columbia, Tenet, and Humana all experienced an increase in sales, between 5.4% and 12.7%.
With the passage of the Affordable Care Act (ACA), the Centers for Medicare and Medicaid Services (CMS) has initiated reimbursement based off of patient satisfaction scores (Murphy, 2014). In fact, “CMS plans to base 30% of hospitals ' scores under the value-based purchasing initiative on patient responses to the Hospital Consumer Assessment of Healthcare Providers and Systems survey, or HCAHPS, which measures patient satisfaction” (Daly, 2011, p. 30). Consequently, a hospital’s HCAHPS score could influence 1% of a Medicare’s hospital reimbursement, which could cost between $500,000 and $850,000, depending on the organization (Murphy, 2014).
The health care organization with which I am familiar and involved is Kaiser Permanente where I work as an Emergency Room Registered Nurse and later promoted to management. Kaiser Permanente was founded in 1945, is the nation’s largest not-for-profit health plan, serving 9.1 million members, with headquarters in Oakland, California. At Kaiser Permanente, physicians are responsible for medical decisions, continuously developing and refining medical practices to ensure that care is delivered in the most effective manner possible. Kaiser Permanente combines a nonprofit insurance plan with its own hospitals and clinics, is the kind of holistic health system that President Obama’s health care law encourages. It still operates in a half-dozen states from Maryland to Hawaii and is looking to expand...
On a global scale, the United States is a relatively wealthy country of advanced industrialization. Unfortunately, the healthcare system is among the costliest, spending close to 18% of gross domestic product (GDP) towards funding healthcare (2011). No universal healthcare coverage is currently available. United States healthcare is currently funded through private, federal, state, and local sources. Coverage is provided privately and through the government and military. Nearly 85% of the U.S. population is covered to some extent, leaving a population of close to 48 million without any type of health insurance. Cost is the primary reason for lack of insurance and individuals foregoing medical care and use of prescription medications.
There are so many uninsured citizens and immigrants in USA and many people who delay care in fear of medical bills. It is shameful that americans likes to boast that they have the highest lifestyle in the world, yet in this twenty-first century, we are the only industrialized nation that does not guarantee necessary healthcare to all of its citizens. Therefore, to resolve this crisis in country like USA where everybody believes; Everyone is born equal, should have access to affordable health care system because if we don’t have health insurance many people will not have health insurance and the premiums will increase dramatically for the insured people.
Longest Jr., B.B (2009) Health Policy making in the United States (5th Edition). Chicago, IL: HAP/AUPHA.
In 2010, the passage of the Patient Protection and Affordable Care Act (PPACA) initiated reforms between healthcare and healthcare providers. For example, Huntsville Hospital Health System developed as smaller healthcare providers sought refuge under Huntsville Hospital’s larger umbrella. Nine separate campuses, among the North Alabama area, constitute the Huntsville Hospital Health System
Educational Funding: One of the ACA's primary mechanisms for increasing the amount of providers, particularly in areas wherever need is high, is through extra funds to the National Health Service Corps (NHSC). This 40-year-old program, administered by the Health Resources and Services Administration (HRSA), offers providers monetary, skilled, and academic resources in exchange for operating in historically underserved areas of the country.
HCA, after following a conservative financial policy since its establishment, has entered the new decade preparing to make some changes in order to realign their financial strategy and capital structure. Since establishment, HCA has often been used as a measure for the entire proprietary hospital industry. Is it now time for the market to realign their expectations for the industry as a whole? HCA has target goals which need to be met in order to accomplish milestones in the future. The problem arises as to which area holds priority to the company. HCA must decide how the key components of their financial strategy and policy should my approached in order to meet their future goals.
(W. Lease, personal communication, July 23, 2010), the “unknown” of the recent health care reform legislation is an external influence that is most relevant to our organization, stated by William Lease, senior vice president of clinical support services. Mr. Lease states, that health care reform legislation will impact our organization in many ways; especially after 2014. While more employees will have health insurance coverage and there will be more patients to treat; the need for controlling costs and improving efficiency is i...
According to Harry A. Sultz and Kristina M. Young, the authors of our textbook Health Care USA, medical care in the United States is a $2.5 Trillion industry (xvii). This industry is so large that “the U.S. health care system is the world’s eighth
Healthcare organizations are designed to meet the healthcare needs of individuals and promote a healthy community. The three healthcare organizations that interest me are: The Heart Hospital Baylor of Plano, Texas Health Center for Diagnostics & Surgery Plan, and Parkland Health and Hospital System. Due to evolving healthcare industry, focusing on just patients and physicians is no longer a marketing strategy. According to Mycek (2015), “Marketing teams need to expand their consideration set and focus on the new 5 P’s of Healthcare Marketing” (p. 1). The new 5 P’s of marketing now impact the marketing potential of healthcare organizations by offering changes in sales rep – physician access, purchasing, formulary decision making, and growing patient empowerment. The new 5 P’s of marketing are: Physicians, Patients, Payers, Public, and The Presence of Politics.
Sutter Health has 24 hospitals, 34 surgery centers and more than 5,000 physicians in its network (Sutter
With the United Nations listing health care as natural born right and the escalating cost of health care America has reached a debatable crisis. Even if you do have insurance it's a finical strain on most families.
Health insurance facilitates entry into the health care system. Uninsured people are less likely to receive medical care and more likely to have poor health. Many Americans are foregoing medical care because they cannot afford it, or are struggling to pay their medical bills. “Adults in the US are more likely to go without health care due to cost” (Schoen, Osborn, Squires, Doty, & Pierson, 2010) Many of the currently uninsured or underinsured are forced accept inferior plans with large out-of-pocket costs, or are not be able to afford coverage offered by private health insurers. This lack of adequate coverage makes it difficult for people to get the health care they need and can have a particularly serious impact on a person's health and stability.
How has the healthcare industry changed (pre-1983 to post 1983)? What are the implications for BD? How has BD managed to build up an 80% market share in this market? Which many competitors bigger than BD have tried to enter without success?