Healthcare insurance exchange in the Affordable Care Act plays significant roles for patients and even the organization. Firstly, it eases the health insurance process by ensuring that everyone is accommodated in accessing the necessary procedures. The people involved could be families, people with small businesses, individuals who cannot help themselves; therefore, the health insurance exchange asserts that anyone can access health services regardless of their locations. Through the call centers, websites, and face-face consultation, insurance exchange plays a role in reaching marginalized societies and even the wider community which could not access healthcare services for a long time (Sommers et al., 2017). Secondly, insurance exchange helps reduce the transaction costs made during the purchases to accommodate those who struggle to access to get the necessary medication as prescribed by the doctors. Additionally, this has been effective because the strategy has pulled people together, and there are voices in the masses. Therefore, efforts are made to ensure that their concerns are taken care of.
Furthermore, the reduction in transaction costs has created room for transparency, in that transactions made by the patients are kept safe for a later review. Insurance exchanges are required to provide electronic resources that help in the call centers found in the insurance exchange portals; this leads to the effectiveness of the strategy. There needs to be a creation of individual and small group insurance exchange portals that record the organized work and the processes within the insurance exchange portals.
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The structure of the governance and management of the payer organization depends on the organization's type, structure, and federal laws (Kongstvedt, 2019). However, the governance part is different from the management due to the different responsibilities that each of these sectors has. The governance of the organization includes the board of directors as well as the managers and officers. On the other hand, the management team comprises the chief executive officer, chief medical officer, vice president of network management, and the marketing director, among others.
References
Kongstvedt, P. R. (2019). Health insurance and managed care: what they are and how they work . Jones & Bartlett Publishers.
Sommers, B. D., Maylone, B., Blendon, R. J., Orav, E. J., & Epstein, A. M. (2017). Three-year impacts of the Affordable Care Act: improved medical care and health among low-income adults. Health Affairs , 36 (6), 1119-1128.
