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How Healthcare Organizations Deal With COVID-19 Financial Issues
Introduction
The widespread dangerous COVID-19 pandemic affected all aspects of our society. Along with the overall change in the lifestyle of the citizens, connected with social distancing, constant wearing of masks, and rise of the cases of infection, healthcare facilities were highly influenced, as well. A growing number of hospitalized increased the need for medical personnel, separate wards, cots, PPE end educational programs for staff. Needless to say, the urgent conduction of all these and other required measures led healthcare organizations to financial shortages.
Discussion
Healthcare facilities in the United States had to face a serious challenge while dealing with the outbreak of COVID-19. According to the American Hospital Association, the lost revenue of the local healthcare system is reported to be $202.6 billion (Kaye et al., 2021). Along with the above-listed factors, financial distress in healthcare was caused by the cancellation of outpatient visits, and consequently, the establishment of facilities for telemedicine appointments, and a halt of a variety of elective procedures.
To control the damage, healthcare organizations might resort to principles of operational management. Specifically, cost control techniques can be used. For instance, expensive technological treatment, that often cannot be covered by insurance, should not be overused. Additionally, the automatization of some processes can be applied. If the data on the patients is collected on digital bases, it can be easily analyzed.
Conclusion
Therefore, it can be beneficial in preparing for future mass casualty incidents, that can be predicted in advance. And lastly, the supply chain issues should be dealt with. Although it is not obvious, delivery delays of the medications and other important supplies might result in the downtime of expensive equipment, pharmaceutical expiring, and limitations of the medical staffs work.
Reference
Kaye, A. D., Okeagu, C. N., Pham, A. D., Silva, R. A., Hurley, J. J., Arron, B. L., Sarfraz, N., Lee, H. N., Ghali, G. E., Gamble, J. W., Liu, H., Urman, R. D., & Cornett, E. M. (2021). Economic impact of COVID-19 pandemic on healthcare facilities and systems: International perspectives. Best practice & research. Clinical anaesthesiology, 35(3), 293306.
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