DNP 840 Describe three factors that impact cost or revenue within your organization
DNP 840 Describe three factors that impact cost or revenue within your organization
I enjoyed reading your post and learning about factors that impact costs in nursing home facilities. One factor you mentioned is the ageing population. As people age the demand on the healthcare system increases (Cristea et al., 2020). This is due to the need for more health resources such as more procedural testing and the amount of care needed to support chronic conditions. With people living longer this will cause an increase in demand for nursing home facilities. The concept of supply and demand is a factor here. The more people needing a service the more costly the service can become. In addition to the supply and demand effect, another factor that impact costs or revenue in nursing homes is government funded programs. For instance, the Program of All-Inclusive Care for the Elderly (PACE). For those patients that qualify for nursing home services, the PACE program provides comprehensive medical and social services to the elderly at home (Centers for Medicare & Medicaid Services, 2023). There are also waiver programs that allow states to use Medicaid funds for patients that require long term care. These types of government programs allow for the reallocation of funds and people may opt to get care at home versus in a nursing home facility.
Reference
Centers for Medicare & Medicaid Services. (2023). Program of All-Inclusive Care for the Elderly (PACE). CMS.gov. https://www.cms.gov/Medicare-Medicaid-Coordination/Medicare-and-Medicaid-Coordination/Medicare-Medicaid-Coordination-Office/PACE/PACE#:~:text=PACE%20provides%20comprehensive%20medical%20and,for%20both%20Medicare%20and%20Medicaid
Cristea, M., Noja, G. G., Stefea, P., & Sala, A. L. (2020). The impact of population aging and public health support on EU labor markets. International Journal of Environmental Research and Public Health, 17(4), 1439. https://doi.org/10.3390/ijerph17041439
