NHS-FPX6008 Assessment 2
Needs Analysis for Change
Name
NHS-FPX6008 Economics and Decision Making in Health Care
Instructor
Date
Needs Analysis for Change
Summary of High Healthcare Costs among the Elderly
The escalating healthcare expenses among the elderly have significant repercussions across several dimensions of society. As people progress in age, their healthcare requirements tend to grow more complex, often need extended therapeutic interventions, specialized attention, and expensive pharmaceutical interventions. The current state of affairs results in significant economic pressure on older adults, leading them to confront increasing out-of-pocket costs, the possibility of accumulating debt, and weakened financial stability. Healthcare systems have concurrent issues in the allocation of resources, as they grapple with the task of effectively managing the delivery of high-quality treatment within the constraints of limited financial resources (Husereau et al., 2022). The ramifications of the ripple effect transcend beyond the scope of people and organizations, as it has a profound influence on communities by further compounding socioeconomic inequities in the realm of obtaining crucial healthcare services. Disadvantaged communities have a disproportionate burden, resulting in the exacerbation of healthcare access disparities and the perpetuation of imbalances. Furthermore, the increasing expenses present workforce-related difficulties within healthcare institutions, possibly placing a burden on personnel capacities and jeopardizing the quality of service delivered. The matter at hand pertains not just to cost containment, but also to the protection of the elderly's welfare, the promotion of fair and adequate healthcare access, and the establishment of sustainable systems capable of addressing the varied requirements of an aging populace.
Socioeconomic or Diversity Disparities
The research by Husereau et al. (2022) underscores the profound impact of economic disparities on the health of the elderly, highlighting a widening "wealth-health" gradient with advancing age. Their findings reveal a direct correlation between increased wealth and significantly improved health among older individuals. Several factors contribute to this connection, including delays in accessing necessary treatments, particularly prevalent in lower socioeconomic groups (Husereau et al., 2022). In economically disadvantaged segments, illness poses a more severe hardship, leading to higher frequencies of oral diseases and impairments among the elderly. This trend extends globally and is observable among older Americans, where Saran et al. (2020) noted a lower rate of good tooth retention among those with lower incomes compared to their higher-income counterparts. Furthermore, individuals in lower socioeconomic positions exhibit higher rates of functional impairment and disability, showcasing a negative relationship between income and the health status of the elderly (Malicka et al., 2022). Remarkably, even modest increases in wealth are associated with substantial enhancements in residents' overall quality of life.
Evidence-Based Findings and Implementation Plans
The research conducted by Hunt et al. (2023) highlights the urgent need to tackle the increasing apprehensions about the expense of healthcare for older individuals in the United States. A significant proportion of adults aged 65 and older exhibit concerns around the potential absence of health insurance or insufficient financial resources to address medical costs in the case of sickness. The concern surrounding healthcare expenditures is particularly heightened among the elderly population without access to Medicare, since more than 50% of those aged 50 and above express apprehension. The financial burden is significant, posing a threat to the well-being of over 50 million individuals in the United States who are 50 years of age or over. This is due to the escalating healthcare costs that now account for a large amount (15%) of their yearly budgetary allocations. The economic burden significantly impacts the overall welfare of older individuals, exacerbating previous health disorders and maintaining high levels of stress. Nearly 50% of individuals aged 65 and above in the United States consistently have concerns around the expense of healthcare. since a result, a considerable number of older persons are compelled to make difficult decisions in order to get necessary medical services, since healthcare bills impose a substantial financial strain on more than half of the population aged 50 and above. Consequently, this situation leads to increased levels of stress over medical expenditures among over 35% of the elderly.
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The need to solve this problem is apparent. Policy interventions play a vital role in guaranteeing the availability of needed health insurance, therefore safeguarding people from having to sacrifice basic needs like as shelter and nourishment in order to afford medical expenses. It is crucial to prioritize endeavors aimed at improving healthcare efficiency and mitigating the escalating costs of prescription medications (Gholamzadeh et al., 2022). The act of postponing or abstaining from medical treatment as a consequence of financial obstacles may lead to the deterioration of health outcomes in the elderly population. This worrisome pattern weakens the general state of health, despite the United States' substantial expenditure on healthcare (Thompson & Gusmano, 2022). The implementation of policies aimed at promoting healthy lifestyles and increasing the availability of preventive treatments may provide a proactive approach to reducing healthcare expenses. Promoting regular physical activity, maintaining well-balanced nutritional intake, and improving access to preventive screenings are essential strategies for preventive healthcare. Furthermore, the use of digital technology to speed the delivery of healthcare, optimize administrative processes, and increase the overall quality of treatment offers an opportunity to improve the efficiency of healthcare systems and manage expenses. It is imperative to adopt a collaborative approach, including governments, corporations, and individuals, in order to effectively tackle these economic obstacles and establish a healthcare system that is both sustainable and equitable for the elderly population in the United States.
Future Prospects and Expected Outcomes
The escalating cost of healthcare in the United States stands as a formidable challenge, amplified by the projected quadrupling of the population aged 65 and older by 2050. This demographic shift portends a substantial increase in age-related conditions like heart disease and Alzheimer's, further contributing to the rising costs of care. Projections by the United States Census Bureau suggest a significant surge in the population aged 65 and above, reaching unprecedented levels of 52 million by 2034 (Hunt et al., 2023). Consequently, a larger portion of Americans, particularly seniors, will grapple with the adverse health and financial impacts of soaring healthcare expenditures in the coming years. The imperative to reassess healthcare delivery is urgent. Exploring innovative, low- or no-cost alternatives becomes crucial to address the burgeoning healthcare needs of the aging population. Community-based services and initiatives emerge as promising solutions, offering supplemental support alongside traditional medical treatments typically associated with hospitals and clinics (Husereau et al., 2022). These community-focused approaches aim to complement medical care by providing a range of support services tailored to older individuals' specific needs, ensuring comprehensive care that extends beyond clinical settings.
The federal government's investment in programs targeting terminal diseases and fall prevention among the elderly exemplifies proactive initiatives with proven success. These programs transcend conventional healthcare paradigms, aiming to broaden access to essential care for all individuals in need, particularly seniors. By leveraging community-based services and innovative healthcare delivery models, these initiatives seek to bridge gaps in care accessibility and affordability, fostering a more inclusive and comprehensive healthcare landscape for older Americans. At this critical juncture, reimagining healthcare delivery strategies, embracing community-centric approaches, and investing in proven programs beyond traditional medical settings are pivotal steps toward ensuring equitable access to quality care while mitigating the financial strains associated with escalating healthcare costs for the aging population.
In conclusion, the United States' aging population is seeing an increase in healthcare expenses, which is a serious issue made worse by anticipated demographic changes. Given that the number of people 65 and older is predicted to triple by 2050, age-related illnesses such as Alzheimer's and heart disease will become more common, which will drive up the cost of healthcare. The healthcare delivery paradigms need to be reevaluated in light of these forecasts. The growing healthcare requirements of the elderly need the integration of established medical treatments with new, community-based alternatives. Proactive steps to close gaps in care accessibility and cost include programs that address fall prevention, managing terminal illnesses, and providing community-based support services. Most importantly, these approaches aim to improve overall care quality and provide fair access for older adults in addition to reducing expenses. The healthcare system may work toward providing senior care that is more comprehensive, inclusive, and sustainable by making investments in free or very inexpensive alternatives and venturing outside of conventional healthcare settings. Rethinking healthcare delivery from an integrated perspective is essential as the population ages and healthcare needs increase. The healthcare system may meet the problems presented by growing expenses while guaranteeing that senior citizens get the high-quality, easily accessible care they are entitled to by using creative solutions, funding community-based services, and placing a high priority on preventative care. This joint endeavor aims to improve the well-being of senior citizens in our communities and promote healthy aging in addition to addressing the economic effect.
References
Gholamzadeh, S., Shaygan, M., Naderi, Z., & Hosseini, F. A. (2022). Age discrimination perceived by hospitalized older adult patients in Iran: a qualitative study. Health Promotion Perspectives, 12(1), 45. https://doi.org/10.34172%2Fhpp.2022.07
Hunt, X., Hameed, S., Tetali, S., Ngoc, L. A., Ganle, J., Huq, L., ... & Banks, L. M. (2023). Impacts of the COVID-19 pandemic on access to healthcare among people with disabilities: evidence from six low-and middle-income countries. International Journal for Equity in Health, 22(1), 172. https://doi.org/10.1186/s12939-023-01989-1
Husereau, D., Drummond, M., Augustovski, F., de Bekker-Grob, E., Briggs, A. H., Carswell, C., ... & Staniszewska, S. (2022). Consolidated Health Economic Evaluation Reporting Standards 2022 (CHEERS 2022) statement: updated reporting guidance for health economic evaluations. International journal of technology assessment in health care, 38(1), e13. https://doi:10.1017/S0266462321001732
Saran, A., White, H., & Kuper, H. (2020). Evidence and gap map of studies assessing the effectiveness of interventions for people with disabilities in low‐and middle‐income countries. Campbell Systematic Reviews, 16(1), e1070. https://doi.org/10.1002/cl2.1070
Thompson, F. J., & Gusmano, M. K. (2022). Biden and the Affordable Care Act: Congressional Action, Executive Federalism, State Litigation, and Program Durability. Publius: The Journal of Federalism, 52(3), 382-407. https://doi.org/10.1093/publius/pjac013
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