Reference no: EM133908174

Question

Discuss the economic or financial implications. When looking at economic or financial implications 360 degrees, there are economic and financial implications from several perspectives: (1) the cost of care associated with meeting the needs of the medically underserved often involves providing care at a reduced rate or for free, and the cost of medical school training. Both of which could potentially impact the financial earnings of healthcare providers if subsidies, compensatory mechanisms, or philanthropic support are not in place, (2) health system costs associated with providing preventive and early care for medically underserved populations can reduce long-term health system costs by lowering emergency care usage and preventing chronic disease progression; (3) malpractice cost associated with errors in care delivery that can lead to lawsuits; and (4) Medicaid/Medicare reimbursement cost the hospitals can lose due to poor care delivery standards that do not meet Medicaid/Medicare reimbursement standards; (5) high cost of medical schools which can be factor contributing to shortage of physicians in America.