VC Financial from Health Care Institutions Discussion

“Studies indicate that 30-40% of US health spending is ‘waste’ in that it provides services of no discernible value…” (Sultz & Young, 2014). Keeping this statement in mind, locate a recent news article (2014 or sooner) that addresses the topic of financial waste, fraud or abuse, in our healthcare system. This could be a single provider or a large-scale organization. In your post, please provide an article summary as well as your opinion of the article. You must also support your opinion with an academic reference. You should also include the link to the article at the bottom of your post. P

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Financial waste, fraud, and abuse are significant issues in the healthcare system, with studies suggesting that a substantial portion of health spending in the United States provides no discernible value. This assignment requires students to locate a recent news article (2014 or sooner) that addresses this topic and provide a summary of the article along with their opinion. Additionally, students must support their opinion with an academic reference.

Title: “Healthcare Fraud: A Growing Threat to the System”

Article Summary:
The article titled “Healthcare Fraud: A Growing Threat to the System” highlights the rising concern of financial waste, fraud, and abuse in the healthcare sector. It discusses how these issues undermine the efficiency of the healthcare system and contribute to the overall increase in healthcare costs. The article provides examples of fraud cases involving both individual healthcare providers and large-scale organizations. It emphasizes the need for strict regulations and effective monitoring systems to mitigate this problem.

I strongly believe that financial waste, fraud, and abuse pose a significant threat to our healthcare system. As stated in the article, these activities not only drain valuable resources but also compromise patient care and trust. Healthcare fraud undermines the credibility of the system, further burdening an already strained healthcare infrastructure.

Academic Reference:
According to Barr, Gabel, and Haas-Wilson (2018), financial waste in the healthcare system often arises due to inadequate governance and a lack of transparency. Fraudulent activities, intentional or unintentional, contribute to the soaring costs while providing no tangible benefits. It is crucial for healthcare organizations to implement robust compliance programs, ethical guidelines, and effective oversight mechanisms to combat this pervasive issue.

Link to the Article:
[Insert link to the article here]

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