Financial Resource Management and Healthcare Reimbursement Research Paper

Financial Resource Management and Healthcare Reimbursement - Research Paper Example There is an increase in the number of Medicaid patients and children enrolled in the children’s health insurance program of the state. This has affected our payer mixing which has consequently led to a decline in our reimbursement and the quarterly disbursement that we give to the physicians. The pediatric endocrinologist has approached me with a proposal to have his remuneration increased. He is asking for an additional stipend to his regularly covered services. Many partners have also suggested that we ought to increase the clinic services. They have come up with ideas on how to implement this plan. The increase in clinic services is a costly affair that will influence our finances. One of the partners is of the opinion that we contract a pediatric oncologist who will be seeing patients on a monthly clinic day. Another has suggested that since the contract for the Indian health contract was up for renewal soon, we can target that patient population and serve it through an ou treach arrangement where one or two pediatricians can travel to clinics reserved for the patients or the patients can come to our clinic. These ideas are quite brilliant since they are ventures that have the potential of earning additional revenue to the institution (McKeever, 2012). Many factors influence the price charged across the pediatric services worldwide. One is the remuneration that is paid to pediatric practitioners that in turn depends on the level of qualification and the number of cases that the medic attends. The other factor is the cost of conforming to the laws of the state regarding pediatric services for example the cost of obtaining a license to do the business. The type of illness also determines the charges since some diseases require more resources to treat than others can. There is also the cost of medical equipment like syringes, stethoscopes, and microscopes among others. Revenue collection is a vital process for any business since it is the only way