Healthcare units spanning the country have been faced with collective financial challenges, which have resulted in bankruptcy. The most affected healthcare facilities are rural hospitals. There has been more pressure in the expansion of medical centers in states as there is an increase in indigent patients. In addition, there are more pressure expected in establishments of the core skills required in thriving rapid change healthcare market. It has been a great challenge for the health cares to survive the current health situations especially in the financial challenges. Basing on the current report and statistics, health care providers are now facing the largest economic challenge. Recently, the current financial challenges are termed to be universal regardless of the size and the location of the healthcare unit ( Folland, Goodman & Stano, 2016) . There is need of strong future vision and the faculty to act on the establishment of more healthcare facilities. In this paper, analysis of patient care financial challenges is analyzed and other related problems which face the patient care financial in the United State of America are discussed.
To begin with, one of the critical issues which have brought an increase in financial pressure in patient health care is the meeting of compliance requirements and regulations. Healthcare and hospitals providers must make sure that they have to agree with various numbers of rules and regulation in order to govern patient privacy. Some compliances charge a lot in giving the licenses and a higher rate of insurance coverage. This in turns has brought down the facility importation due to lack of sufficient fund. Some critical machines facilities such as the one used for chemotherapy are more expensive to buy hence the patients suffering from cancer are limited to the rate of their attention ( Cleverley, 2017) . In addition, the adaption to market forces has emerged due to competition with private healthcare and governmental hospitals. Nongovernmental hospitals have developed facilities which are more advanced hence we find that it is difficult for an average patient to access the healthcare. In addition, there is difficulty in enrolling top health officers in public hospitals due to less payment unlike those from privates. This has affected the patient healthcare negatively hence there is still facilities financial pressure.
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Managing investment in capital obliged environment remains a challenge. Following the rapid increment patients’ demand and the frequently changing laws, there is the need for expansion of healthcare facilities. More healthcare facilities are required to meet the patients’ need and at the same time work profitably ( Folland, Goodman & Stano, 2016) . In order to meet the patients’ demand, health care requires more expansion and more accessibility to patients. Managing these investment becomes a problem to many health care centers as there is much pressure on capital cost if investment. Moreover, health centers are required to move with the current technology in order to meet the required standards of the patients’ requirement. In addition to that, acquiring digital innovations and the required technology in healthcare facilities has been a major problem in many health care centers. Managing these requirements in a cost constraint environment has not been easy. Moreover, the new technology requires huge amount which many healthcare units are not able to raise unless funded by the state or federal government. The IT structure of some of the hospital equipment has become obsolete and more facilities are needed to improve and implement medical tools ( Cleverley, 2017) .
Another problem affecting health care is the high levels of bad debt. Many healthcare units experience the problem of financial management that has actually lead to increased debts. Setting up medical facilities is also expensive and many healthcare find it better to access these items on hire purchase thereby increases the hospital debts. In addition, the cost of some special medicine is costly. Furthermore, the increased visits to emergency rooms where more special care units are required have greatly increased the cost of medication and health care debts indeed ( Chhatwal, Kanwal, Roberts & Dunn, 2015) . Research shows that hospital supplies constitute the largest part of operation cost and hence they make up the main source of debts. For example, an average health care in the USA is approximated to have the following debt distributions; 43% medicine, 12%chemicals and reagents, 28% medical materials, 10% orthopedic materials and 8% on other required materials ( Obama, 2016) . Moreover, some patients are unable to pay hospital bills and these bills adversely affect the performance of the healthcare unit. In order to reduce these debts, many health care units are advised to reduce unnecessary visit to emergency rooms and use emergency rooms only when it is necessary. In addition, bad debt can be addressed through improving billing practices where the patient makes payment at the point of services.
In conclusion, the success of health care system relies on the financial capability of the hospital. Competency in financial management in health care units is required for the purpose of meeting the needs of the patient and operating profitably and also for the need of reducing health care debts ( Folland, Goodman & Stano, 2016) . In addition, good financial management ensures consistency in the provision of healthcare services. Moreover, achieving an effective financial management is a symbol of efficiency in health care. Furthermore, showing financial capabilities in health care is a sign of a profit working organization in a competitive environment.
References
Chhatwal, J., Kanwal, F., Roberts, M. S., & Dunn, M. A. (2015). Cost-effectiveness and budget impact of hepatitis C virus treatment with sofosbuvir and ledipasvir in the United States. Annals of internal medicine , 162 (6), 397-406.
Cleverley, W. O. (2017). Essentials of health care finance . Jones & Bartlett Learning.
Folland, S., Goodman, A. C., & Stano, M. (2016). The Economics of Health and Health Care: Pearson International Edition . Routledge.
Obama, B. (2016). United States health care reform: progress to date and next steps. Jama , 316 (5), 525-532.
