Health Financial Management Assignment

Running head: HEALTH FINANCIAL MANAGEMENT
Health financial management
Name of the student:
Name of the university:
Author note:

1HEALTH FINANCIAL MANAGEMENT
Table of Contents
Question 1: 2
Question 2: 3
Question 3: 3
Question 4: 4
References: 6

2HEALTH FINANCIAL MANAGEMENT
Question 1: How Medicare could be improved and how this would be achieved?
Medicare is considered to be the universal health care system that is funded by the public
themselves; Medicare had been introduced in Australia in the year of 1984 by the collaborative
management of Australian health services department and public funding. Medicare is by far the
primary funder of health care services all around the globe; as it has facilitated the concept of
universal health coverage significantly, it has contributed a massive impact on the increased
accessibility and cost effectiveness of the health care services. In simple terms, Medicare is a
public fund operated insurance scheme that provides a varied range of health care services
depending on the coverage of the scheme. The inoculation of the concept of universal insurance
scheme in the health care market, has contributed significantly to remove the financial strain
associated with seeking out health care services and Medicare on its own has enabled different
socio-economic sectors of the society access health care services without the added stress of
financial strain (Marmor, 2017). However, for a health care coverage scheme that has been
operating for decades with an appreciable universal client base, there are many challenges that
have surfaced in the entire process, and there is need for strategic actions to improve the impact
of mediocre on health care.
First and foremost, one of the highest number of beneficiaries in the Medicare scenario are
the senior citizen, who are by far the most frequent users of the Medicare coverage services;
however, one of the most significant grievances is that fact that most of the benefits in the
coverage scheme only start from the age bar of 65, which has become irrelevant in the current
scenario. Most of the health care concerns in the current age start much earlier than 65 years
hence the age bar must be revised to 50 years to satisfy the biggest customer base. Along with
that, coverage policy with Medicare is determined by the clinical evidence, a key improvement