Cost Effective Care: Strategies to Reduce Healthcare Costs, Analysis

This report examines strategies for cost-effective care within the healthcare system, focusing on the roles of nursing leadership, Family Nurse Practitioners (FNPs), and various stakeholders in addressing rising costs and decreasing reimbursements. It explores how nursing leaders can implement cost-saving measures, such as electronic record-keeping and efficient scheduling, while FNPs can advocate for policies promoting value-based care and providing consumers with price information. The report also discusses actions that can be taken at the unit/office level, such as fostering competition and negotiating drug costs, and at the system level, including collaborative measures and the integration of value-based purchasing. Furthermore, it emphasizes the collective responsibility of all healthcare staff, including FNPs, in streamlining revenue functions and effectively communicating operational plans to combat financial constraints. The report underscores the importance of a unified approach involving patients, practitioners, and other stakeholders to achieve effective cost management and reimbursement improvements.

Running head: COST EFFECTIVE CARE 1
Cost Effective Care
Student’s Name
Institutional Affiliation

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Cost Effective Care
Role of Nurse Leader in Cabbing Increasing Cost of Healthcare and Reducing
Imbursement
Nursing leaders need to ensure that the organization is cost-conscious. However, they
have an obligation to identify ways to save money without compromising patient care. Nursing
leaders play a fundamental role in saving hospital expenditures. For instance, nursing leaders
engage in generating, sending and keeping information like patient records in electronic format.
This helps reduce the cost wasted on purchasing manual record scripts. Nursing leaders also
ensures that the nursing department stays on budget. Furthermore, the nursing leaders prevents
occurrence of wastages in the nursing setting. They play a significant role in designing adequate
schedules that avoid overtime hours. Finally, nursing leaders are important seeking lower-cost
employee benefits.
The Role of FNPs in Combating Rising Health Cost and Decreasing Reimbursement
The FNPs would play an essential role in fighting rising health cost as well as decreasing
reimbursement by providing more information to the consumer other varying prices offered by
different medical institutions. Lack of information on price variations has significantly
contributed to the rising health cost (Holly, 2018). Besides, the FNPs can also advocate for
policies that would promote more value-based environment following that the patients are
willing to pay more for better outcomes. As a result, the issue would effectively address the
declining reimbursement. Besides, the policies should be designed to ensure that the healthcare
consumers i.e., patients are given power in the industry as well as reducing the number of the
patient test as a way of reducing the rising health costs (Holly, 2018).

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What Can Be Done At The Unit/Office Level To Combating Rising Health Cost And
Decreasing Reimbursement?
Notably, the healthcare offices should ensure that they remain competitive, following that
lack of competition has significantly contributed to the rising costs. Besides, the medicare offices
should also take the responsibility of negotiating the drug prescription costs for their consumers
(Rankin et al., 2018). The offices should opt for decentralized billing models, thus ensuring that
the reimbursement issues are addressed adequately.
What Can Be Done At The System Level To Combating Rising Health Cost And
Decreasing Reimbursement?
The healthcare system should advocate for collaborative measures among various
networks in the industry i.e., physicians, hospitals, and patients thus helping the cost among
other errors. Besides, the system should seek for the integration of the value-based purchasing
medical reimbursement method that would serve as an ultimate solution to the rising health cost
and declining reimbursement (Liebler & McConnell, 2016). Besides, the system should also take
into consideration the measurement of outcomes as well as the cost for every patient as a way of
regulating its functions to favor all the stakeholders.
What Staff Should Be Involved In Combating Rising Health Cost And Decreasing
Reimbursement?
In the context, all staff in the healthcare industry, including the FNPs, should take the
obligation to combat the rising health cost as well as addressing the decreasing the
reimbursement. Besides, all the parties should take part in smooth lining the revenue functions in
the healthcare industry thus ensuring the financial constraints are addressed timely as well as
appropriate communication of any scheduled operations (Liebler & McConnell, 2016).
Who Should Take A Role In Combating Rising Health Cost And Decreasing
Reimbursement?

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Notably, it is the collective obligation of every stakeholder in the healthcare sector
including the patients, health practitioners among other players to ensure the issue relating
combating health costs as well as decreasing reimbursement are achieved effectively.

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References
Holly, L. (2018). Five ways to lower health care cost in the U.S. Retrieved from
https://www.marketwatch.com/story/5-ways-to-lower-health-care-costs-in-the-us-2018-
03-08
Liebler, G., & McConnell, C. R. (2016). Management principles for health professionals. Jones
& Bartlett Publishers.
Rankin, V., Ralyea, T., & Sotomayor, G. (2018). Clinical Nurse Leaders forging the path of
population health. Journal of Professional Nursing, 34(4), 269-272.