Health Care Spending Essay Example for Free

Health Care Spending Essay In the past seven decades health care spending has been increasing tremendously. The industrial era brought in a new system to help population duel with the cost of medical care. New technology has become a much needed investing in the 21st century which has yield to a great margin between small and big facilities. When looking at all of these factors there is no wonder the nation is spend way too much money on health care, although at times might seem that there is not enough. It seems that the right investment is needed to help aid those that need help the most the elderly and unemployed, with the economy in a fragile state and unemployment rates increasing with the quarters there is no question that decisions about how we are spending on health care needs to change. Even though so many factors are involved in the spending this paper would focus on our current level of expenditures, how and where is the money spent, forecasting what would be coming next. Current level of national healthcare expenditures According to Physicians for a National Health Program (2012), â€Å"National Health Expenditures was $2.8 trillion, and the spending as a percent of GDP was 18% for 2012† (National Health Expenditure Projections: Modest Annual Growth until Coverage Expands and Economic Growth Accelerates). When looking at these facts many would even argue we are spending quite enough when it comes to healthcare or perhaps too much, however is the complete opposite not enough spending is in the right place. These figures does not represent the spent on one area of health care the graph below will provide an idea as to what, when, and where was spent on 2009. Total = $2.3 Trillion Source: Martin A.B. et al., â€Å"Growth In US Health Spending Remained Slow in 2010; Health Share of Gross Domestic Product Was Unchanged from 2009,† Health Affairs, 2012. As shown on the graph 51% of the spending is towards hospital care and physician/clinical services which are great to be invested in, however the rest of the spending in my opinion is not proportionally distribute, yes those areas are extremely important but it would be beneficial if more can be distributed along medication, and other professionals services to include the testing and diagnose of serious illnesses such as cancer. The investment is require to subsidize the needs on these areas, 45 percent of people under age 65 who dont have insurance coverage for prescriptions said they had not filled a prescription in the last year because of the cost. Additionally, 84 percent of working-age people in the U.S. without insurance coverage for prescriptions said they had taken some action such as spending less on groceries or postponing paying other bills in order to pay for their medications, an increase from 71 percent last year (Rowan, 2012). Regarding testing for patients with cancer there should be more funding for the new technology available for test that many patients are not aware, because they cannot afford it or simply because it is not available in their area. Spending: Too much or not enough? In 2010, $2.6 trillion was spent on health care services and products, 61 percent of which purchased hospital care, physician and clinical services, and retail prescription drugs. Private health insurance paid for 33 percent, out-of-pocket sources for 12 percent, and other third party payers and programs for 7 percent. The two largest government health care programs, Medicare and Medicaid, purchased $925.1 billion worth of health care goods and services in 2010, accounting for 36 percent of total health care spending (Centers for Medicare and Medicaid Services, 2012). The increase of cost would continue to rise according to economists, health care managers, and advisors forcing for a new reform to change the system. Thus many are not too please with this idea is a phenomenal that cannot be avoid, there is a need to change in policies and methods in which we spent or invest in health care. Suggesting that the investment is too little would be a denial statement, everyday more and more patients are relying on programs such as Medicare and Medicaid to get the attention required at the moment. As the economic recession set in deeper less would be available to afford just the basic needs, medication or any treatment; unemployment rates are on the rise and it does not seem it would stop anytime soon. Although the new reform would try to establish some type of stability, until the insurance companies and policy makers come to an agreement to provide a universal premium for service which can be affordable for all, the same problems would continue to emerge. Many factors also have effect on spending considering for example the demand for new technology in the 21st century; this trend has become to some degree a factor in the rise on health care spending. Much of this new technology is beneficial if it provides a new way to used already establish technology, however many studies have revealed that most of them are only here to replace such technology and at some circumstances increase the cost of service. As a country a deeper consideration of such technology is needed not only to save money, but to invest wisely as to what would help the system cut in spending. Future economic needs of health care For years to come the enduring effects of the economic recession and slow recovery, due mostly because of partial growth in incomes, are expected to continue to limit health spending growth. In 2014 the coverage expansions laid out in the Affordable Care Act for Medicaid and for private health insurance are expected to increase the growth rate for health spending, with notable increases expected in spending on physician services and prescription drugs for newly insured patients. By the end of the year, higher income growth and the continuing shift of baby boomers into Medicare are expected to cause health spending to grow roughly two percentage points faster than overall economic growth, which is about the same differential experienced over the past thirty years. Therefore a necessary reform of a national health care perhaps would provide the change needed, the only issue with this suggestion is the funding. Thus a national health care would help every citizen reach the so needed medical attention required at an affordable price there is no surprise that the funding through Federal programs are thinning, and the cost of private insurance keeps on raising. Therefore a more evaluated reform should be put in place where the cost of care should be regulated, and more affordable options are given to the population; an increase on reimbursement of healthcare for basic health needs is necessary to subsidize the cost for complex health needs in order to keep the cost regulated. According to Centers For Medicare And Medicaid Services (2011), â€Å"In 2014, national health spending is projected to rise to 7.4 percent, or 2.1 percentage-points faster than in the absence of reform, as the major coverage expansions from the Affordable Care Act (ACA) are expected to result in 22 million fewer uninsured people† (National Health Expenditure Projections 2011-2021). Increases in Medicaid spending growth, and private health insurance growth will contribute to the overall acceleration in national health spending in 2014. There is no question that technology would also continue to raise to help the system provide the best and fast way possible services to those in need. Investing more in health care can only benefit the nation; however the right decisions needs to be made in order to keep the spending growth under control. Reference Centers for Medicare and Medicaid Services. (2012). Retrieved from http://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/downloads/dsm-10.pdf Centers for Medicare and Medicaid Services. (2011). Retrieved from http://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and -Reports/NationalHealthExpendData/Downloads/Proj2011PDF.pdf Martin A.B. et al., â€Å"Growth In US Health Spending Remained Slow in 2010; Health Share of Gross Domestic Product Was Unchanged from 2009,† Health Affairs, 2012. Physicians for a National Health Program. (2012). Retrieved from http://www.pnhp.org/news/2012/june/2012-health-care-spending-including-administration Rowan, K. (2012). Fox news.com. Retrieved from http://www.foxnews.com/health/2012/09/13/why-americans-prescriptions-are-going-unfilled/

Public Company Accounting Oversight Board (PCAOB) - Will it Protect Inv

Public Company Accounting Oversight Board; Will it Protect Investors?   Ã‚  Ã‚  Ã‚  Ã‚  The Public Company Accounting Oversight Board (PCAOB) was created by Sarbanes-Oxley Act of 2002. This board was created to oversee the audit of public companies, subject to the securities laws, in order to protect the interests of investors (15 USC 7201, 2002). It was created in wake of the recent financial scandals of Enron, WorldCom, and Global Crossing to name a few. This â€Å"Act† established by Congress is to create an oversight board, so that such scandals will never occur again. Will this oversight board work and will its work restore public confidence and encourage individuals to invest in the stock market again?   Ã‚  Ã‚  Ã‚  Ã‚  The PCAOB is not a tax-payer funded agency. It is supported by over 8800 companies and mutual funds that benefit from independent audits (Epstein). The PCAOB principle duties are; 1.  Ã‚  Ã‚  Ã‚  Ã‚  Register public accounting firms that prepare audits. 2.  Ã‚  Ã‚  Ã‚  Ã‚  Establish and/or adopt standards relating to the preparation of audit reports for issuers. 3.  Ã‚  Ã‚  Ã‚  Ã‚  Conduct inspections of registered public accounting firms. 4.  Ã‚  Ã‚  Ã‚  Ã‚  Conduct investigations and disciplinary proceedings. 5.  Ã‚  Ã‚  Ã‚  Ã‚  Promote high professional standards and improve the quality of audit services offered by registered public accounting firms. 6.  Ã‚  Ã‚  Ã‚  Ã‚  Enforce compliance with the Sarbanes-Oxley act (15 USC 7201, 2002). Before the establishment of Sarbanes-Oxley and the PCAOB, there was no oversight board. Public accounting firms would perform â€Å"peer reviews† to verify that audits were being performed with due diligence. However, these reviews were not high priority, thus uncovering errors/negligence made by the public accounting firms by peers were rarely discovered. It was only after the massive failures of Enron and WorldCom that this gross negligence by the public accounting firm performing the audit came to light. It was clear that an independent review board was necessary to ensure due diligence is being followed when a public accounting firm audits a corporation.   Ã‚  Ã‚  Ã‚  Ã‚  The PCAOB will examine yearly those public accounting firms with more than 100 publicly-traded audit clients. All others will be examined every three years. Any violations of Sarbanes-Oxley or SEC and the PCAOB may fine or disqualify firms from public accounting audits (Epstein). The power to fine or disqualify a public accounting firm from ... ...g profession.   Ã‚  Ã‚  Ã‚  Ã‚  It is still too early to tell if the PCAOB will be effective or not. Only time will tell if the actions of the PCAOB and the public accounting firms will restore investor confidence to invest in the stock market, again. Works Cited â€Å"Accountability in the Era of Global Markets.† The Fletcher School. Feb. 2004: Tufts University. 16 May 2004. Calabro, Lori. â€Å"New Attestation Standards for Internal Controls Put More Power in the Hands of Auditors.† CFO Magazine. May 2004: Economist.com. Lexis-Nexis. Baker University. 16 May 2004 . Epstein, Jonathan. â€Å"Watchdog Says Accounting Firms Have Much to do to Restore Credibility.† Buffalo News. 19 April 2004: Knight Ridder/Tribune Business News. Lexis-Nexis. Baker University. 16 May 2004 . Griggs, Linda L. â€Å"Audits of Internal Control over Financial Reporting: What do they Mean?† Prentice Hall Law & Business Insights. 29 April 2004: Lexis-Nexis. Baker University. 16 May 2004 . Michaels, Adrian. â€Å"Accountants Urged to take Moral Stand.† Financial Times. 19 Dec. 2004: Financial Time Limited. Lexis-Nexis. Baker University. 16 May 2004. Sarbanes-Oxley Act of 2002. Pub. L. 107-204. 30 July 2002. Stat. 116.745

Automobile Repair and Mechanics Essay

Automobile repair is not only an interesting field to me, also I feel automobile maintenance is necessary knowledge to have in today’s auto market. Like studying for school or learning the skills of a job; I feel knowing how to repair a vehicle will produce a cost effective lifestyle, and take out all the hassle anyone who owns a vehicle encounters everyday. How many Americans can change their own oil that don’t work as mechanics, or what is the average repair bill for a same day repair are questions that bring concern to how becoming my own handyman makes a productive choice. I decided to explore the topic a little more to get a better understanding of the requirements to become an auto mechanic, for I have decided to become certified in Automotive Technology. According to the Bureau of Labor Statistics(definition)- â€Å"an auto mechanic is a technician that inspects, maintains and repairs automobiles and light trucks that run on gasoline, electricity or other alternative fuels; like ethanol†. Auto mechanics play a very important role in maintaining and keeping vehicles running efficiently. The field of auto mechanics reveals a long history, specialized schooling and strong career objectives for anyone that would like to choose this field as a career. There are certain requirements to become an auto mechanic, and a student can get the basics of automobile repair by taking a vocational class in high school. The course is not really considered training, but the class gives a basic knowledge of what mechanics do. To be considered a qualified auto mechanic; completing training at a post- secondary school like Pinellas Technical Education Centers or at a community college are the best choices, but the college aspect is not as much hands on as the secondary school. â€Å"PTEC consists of 2 years of intense training†(brochure), and the community college usually offers an associate degree for this field that also takes 2 years to complete the coursework. With these types of training, getting the most up to date training needed is essential; like using computer systems to detect problems with cars. Another form of training involves working as an apprentice to a master technician so questions are answered from experience . When all the formal training is completed a mechanic is considered certified when receiving a ASE Certification. This stands for Automobile Service Excellence Certification. The Bureau of Labor statistics suggests that individuals who live in large cities should get certified to help them with their search for jobs. An auto mechanics basic job function is performed in some type of repair shop, and working 40 plus hours a work is expected with such high volume of vehicles to work on. Sometimes work can continue into the weekend, along with performing work on the side to help earn some extra money. The working environment for the job involves identifying and fixing problems that deal with the car in a repair shop. Most of the time repairs are done indoors in a large, open garage like facility, including mechanics to get dirty due to all the grease repairs performed daily. These functions are real important that this does not bother someone who might want to do this as a job, for some of the grease and dirt is almost impossible to get completely rid of. Many shops have now included electrical technology as part of their services due to the fact that most cars have specialized computer systems. â€Å"This new service has increased the mechanics skill level greatly† (resource). â€Å"Many repair shops rely on these computerized systems to help in identifying problems related to the car† (Ly). The term auto mechanic is slowly fading away, and many mechanics are now being labeled as service technicians. The change in the name comes from the fact that working on many different parts of the car, and computer systems that require additional and more advanced training. Auto mechanics make a pretty good living. Starting out as a new auto mechanic the annual income will range between $25,000 – $35,000. The next level mechanic could make $35,000- $45,000. After that the pay can be anywhere from $45,000 up to $100,000, for the higher pay range is for a Master Mechanic. It would be best to try and achieve the highest level of pay to make this job worthwhile. This is not exactly a goal that I am going to set forth for myself to achieve because simply auto work is all I’m interested in. Many Master Mechanics work for luxury car manufacturers like Mercedes, BMW, Jaguar and Porsche. The future for service technicians looks very bright. For the next 3 years the auto mechanics field will see an increase close to 10- 20%. This increase is due to many technicians retiring, and due to an increase in cars being purchased. Dealerships and independent car repair shops will be the main employers of service technicians. The outlook continues to look positive for auto mechanics even though economic downfall is predicted to continue. In conclusion, auto mechanics is a very diverse field that requires complete dedication and skill to help become successful. Mechanics involves a long history, specialized schooling and the desire to achieve. Auto mechanics has evolved into a very complex and sometimes challenging field, and the future job outlook for this field is great and it is a very good choice for anyone interested in pursuing this career.

Essay The Importance of Ethical Decision Making - 1051 Words

Introduction Generally, ethics is defined as standards of performance that explains how human beings should opt to react during many circumstances in which they meet with friends, citizens, parents, teachers, children, professionals, and businesspeople among others. However, ethics is different from feelings, as feelings make significant information’s available for our ethical preferences. Although some people posses highly mature behaviors that formulate them to feel awful when they get involved in the wrongdoings, most of the people normally enjoy doing bad things. Ethical decision-making And frequently people will feel uncomfortable when they are mandated to decide on difficult decisions. For instance, the ethical options the†¦show more content†¦Thereafter, I will embark on deploying my effort to alert the fire department and EMS and engaging other relevant bodies in order for them to come on time and help in freeing the man, saving the woman and protecting the five children. Arriving at the decisions Depending on the result and the reaction of the rescuers contacted within a few seconds, for instance, if the air rescuers are not available or they can not make it within the scheduled time, and optionally the navy officers are also not available, I will be forced to sacrifice one life by running over the man on the road and significantly saving the six lives due to perish on the beach, but only if I will make it on time based on my approximation. This decision will minimally go against the ethical approach of handling calamities, because better six lives that one. And if the other emergency units react positively, I will, therefore have to embark on saving the stuck man (Oliver, 2010). The value of the logics behind the decision Ethical standards are identified based on the respective ethics and how the standards are deployed into the respective circumstances people face in life. At least five diverse ethical standards have been proposed in the past that can be applied in different hard situations. The Utilitarian Approach highlights that the best ethical deed is one that offers the efficient good and optionally results in the least damage or creates the greatest equilibrium ofShow MoreRelatedThe Importance of Critical Thinking and Ethical Decision Making on Social Work1149 Words   |  5 PagesIt is my belief that in order for someone in the social work profession to serve vulnerable populations it was intended to serve, it is imperative to use critical thinking and ethical decision making in tandem to achieve the optimal result. The balance is a delicate and often complex. It requires a close examination or critically thinking, of all the issues not just within yourself, but the community as a whole, the individuals within it, and the client population that the social work serves. 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