In every organization, maintaining the loyalty of stakeholders is crucial in running the business efficiently. Organizations can maintain the commitment of the stakeholders through engagement and participation in various activities. Stakeholders in health care include patients, healthcare practitioners, community managers, and the government. Each of these parties plays a significant role in accomplishing goals set by the hospitals. Maintaining and magnifying this relation involves the continuous sharing of information on what is happening and what is expected. Another aspect crucial in preserving loyalty is involving them in decision making, specifically on issues that directly affect them (Aguirre et al. 2020). In the health care sector, the management needs to portray transparency in all its operations, which can only be enhanced through loyalty from both parties. In cases where trust is not evident, it can bring out conflicts, competition among health care workers, poor decision making, and lack of proper planning.
Research a policy associated with the Affordable Care Act in your home state or another state that may affect healthcare reform and/or the way health care is provided in the chosen State
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According to Kenton (2019), the Affordable Care Act was implemented primarily to reduce the cost of health care insurance coverage by extending it to millions of uninsured Americans. ACA has helped in the accessibility of health care services to low-income individuals and families who would otherwise be suffering if this were not implemented. One of the policies associated with the Affordable Care Act is the Tax Cut and Job Act that was implemented to improve health care reforms. States have different sets of laws that govern how an individual's taxes will be cut. In such a case, the establishment of the policy will mean that each State is affected differently. The tax Cut and Job Act harms the State of California because it affects corporate and individual taxes. In this case, non-profitable hospitals lack the needed financing that will help in funding their operations. Again, it affects the performance of the employees because of the deduction limitation for them. In such a case, it becomes expensive to access services such as clinical testing and purchase of specific drugs. With this, it directly affects the health care reforms because of limited funding in California.
Describe the policy and who wrote and/or promoted the policy legislature (provide statistical data).
The Tax Cut and Job Act was introduced on November 2, 2017, by Kelvin Brady and signed into law by President Donald Trump. One of the primary aims of the Tax Cut and Job Act was to eliminate individual health insurance under the Affordable Care Act. Ideally, it will be a personal choice to decide whether to obtain health care insurance or not. However, in California, this reform affected their tax policy because of its stipulated tax law. In response to the Tax Cut and Job Act in California, high tax earners will be affected compared to other states (Fung et al. 2019). In such, the health care delivery system is affected because of the TCJA structure. According to Glied (2018), the TCJA projected to increase the federal deficit by $1.5trillion between 2018 and 2017
What are the trade-offs offered to bring balance to the healthcare stakeholders?
Trade-offs are regarded as acts of balance between two parties. For instance, in healthcare, health practitioners have to make a trade-off balance between the positive outcomes and potential risks in their daily operations. On the other hand, patients will have to decide whether to take up that care option they hardly know. In this case, from the health care practitioner to the patients, they are faced with the decision of the right medication taking and treatment to give. Stakeholders are potentially affected since they stand at the center of these decisions in ensuring the interest of the organization and the community are reached. One of the trade-offs offered is health care spending. In this case, balance is achieved if there is transparency in the outcome, value, and quality. The compromise is reached when there are valuable services offered, which eliminates cases of physicians getting sick and poor patient care. Another trade-off offered to bring balance to the health care stakeholders is to provide proper incentives, which will lead to high-value care and reduce low-value intervention. Information is paramount, and it is crucial that the consumer, that is, the patient is provided with the necessary information. Ideally, this will help in making a better decision when one encounters health challenges. As for the government, the trade-off comes in when the spending is considered part of the public service, ensures that everyone can access them. The government trade-off should ensure that its budgetary caters to health care, education, and social services, which compliments the shortcomings in the market. Balance to the stakeholders is achieved when the necessary resources are invested in and policies put in place to ensure the matching quality of services.
What role has public perception and disinterestedness played in the valuation of healthcare performance?
Public perception plays a significant role in the valuation of healthcare performance. Public opinion and disinterestedness are a clear indication that the health facility does not provide the public with desirable services. Besides, it can be an indicator that the public does not trust the services provided by the organization. One of the roles played is that it has helped in providing crucial information on areas that health workers need to improve. The public perception also outlined that healthcare workers should be accountable for their performance. To be precise, each healthcare practitioner should set objectives and goals to be achieved over a given period. Doing this will guarantee the value of their performance. Disinterestedness by the public is an indication that it does not meet the needs of the consumers. In such a case, there is a need to restructure the value base for the consumers so that it can meet their needs. Greater transparency on how various activities take place in the hospital will ensure public confidence. Performance can be affected by the policies implemented, and in this case, it's vital to review the organizational structure to understand the underlying problems. Public perception and disinterestedness act as indicators for the discrepancy in the administration. In this case, it's crucial to establish the best channel of governance. Performance is enhanced when employees feel motivated and valued. In such a case, the hospital image will be enhanced, and the public will recognize its efforts in delivering quality services. Public perception and disinterestedness play a significant role in the sustainability and growth of the hospital; hence, it's essential to record quality improvement in performance regularly.
Describe how process innovation, risk-taking, health policy analysis, and governance "sense-making" provide balance for stakeholders
Innovation is an essential tool in the advancement of science and technology in the health care industry. Sticking a balance, in this case, will need a thorough analysis of the benefits associated with this innovation. Before implementing the change, it's essential to ensure that it can be adaptable to the market, both the internal and external stakeholders balance the priorities and interests. In this case, innovation provides a balance for the stakeholders because of the analysis based on benefits associated, which are prior conducted (Groves et al. 2016) Risk-taking is also another aspect that provides stability for the stakeholders. For instance, risk-taking offers a platform where all the stakeholders appreciate decision-making, and they both agree to put it to test. In such a case, all stakeholders cordially accept the outcome, which means that their interests are balanced. Governance ensures the stipulated law is adhered to, and goals are agreed upon, which possess as a balance for stakeholders. Health policy analysis provides that all the outlined facts are evaluated to ensure that the policies and other factors are considered before agreeing on a final decision. Lastly, to maintain the loyalty of stakeholders, the organization needs to evaluate various aspects as State laws, public interest, and participation. With these, it helps in attaining the necessary trust and commitment. Besides, to achieve commitment requires more than just satisfying the stakeholder needs but also portraying behaviors that encourage loyalty.
References
Aguirre, A., Dempsey, G., Surden, H., & Reiner, P. B. (2020). AI loyalty: A New Paradigm for Aligning Stakeholder Interests. arXiv preprint arXiv:2003.11157 .
Fung, V., Liang, C. Y., Shi, J., Seo, V., Overhage, L., Dow, W. H., ... & Newhouse, J. P. (2019). Potential effects of eliminating the individual mandate penalty in California. Health Affairs , 38 (1), 147-154.
Glied, S. (2018). Implication of Tax Cut and Job Act for Public Health. American Public Health Association. Retrieved May 15 2020 from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5944881/
Groves, P., Kayyali, B., Knott, D., &Kuiken, S. V. (2016). The'bigdata'revolution in healthcare: Accelerating value and innovation.
Kenton, W. (2019). Affordable Care Act. Retrieved May 15 2020 from https://www.investopedia.com/terms/a/affordable-care-act.asp
