The Transition to a Fee-for-Service Mentality in Healthcare (Essay Sample)

Paper instructions:
During the assessment/analyzing the environment phase of strategic planning, a company is tasked with understanding the various demands in the market. They also must examine what other companies are doing and take inventory of their own portfolio to determine if they are offering products and services that are relevant and comply with industry standards. This assignment will help simulate one contemporary issue HCOs are having to assess.
The Affordable Care Act has impacted how hospitals and hospital systems prepare for the future. Historical data being needed to help paint the picture of where an organization has been and how they have performed. The impact of the ACA, changing the payment structure from fee-for-service to the theory of covered lives, changes the dynamic in which organizations operate. If a HCO is paid a flat rate per year for each life covered under the new healthcare plans, the strategy for the future changes in many ways. The focus changes from increasing volume at high cost facilities such as hospitals, to wellness of the patient, and providing the right care, at the right time, and at the lowest cost possible (think about an ambulatory setting).
The focus of this weeks assignment is to make sure that the strategic plan secures the future for organizations and its leaders by crafting a viable future business. To control costs in an environment created by the ACA, hospital based systems need to focus beyond the hospital, and try to incorporate all aspects of the patients care and wellness.
Analyze at least 3 different types of services or programs that a healthcare system may look at incorporating into their portfolio as they develop their strategic plans to answer the industry shift away from the fee-for-service mentality. As you do your research, you will see examples of organizations who are very progressive, and some that are focused on the fee-for-service world for as long as they can. You will need to include at least 2 external sources besides your text. If you having trouble understanding the concept of fee-for-service, you may find this Hidden Brain podcast helpful and entertaining: Slaying the Fee-for-Service Monster (opens in new tab).
Slaying The 'Fee-for-Service Monster' Of American Healthcare
https://www.npr.org/2020/09/02/908728981/slaying-the-fee-for-service-monster-of-american-healthcare