The present study highlights about the impact of Recession
on maintaining the sustainability of acute care hospitals. The concern over
rapidly increasing hospital costs has led many nations that previously favored
government owner- ship of hospitals to consider privatization with the goal of
reducing government expenditures associated with hospital ownership.
Governments are closely monitoring hospital privatization as a strategy to curb
cost growth, given the importance of hospital expenses as a percentage of a
country's overall health care expenditures. Although the process of
privatization may vary from country to country, these changes entail the
application of market forces to the availability and provision of healthcare
services. Correspondingly, nations must determine whether market forces alone
should determine whether specific hospitals should be allowed to close based
upon the owner’s sole determination. Responses to the financial crisis of
2007-2009 show that government intervention preserved several financial
institutions whose closure or bankruptcy would have meant the termination of
critical financial services. The authors believe that such intervention can be
rationalized in certain cases of potential acute care hospital closures.
Several international examples of health policies intended to maintain
government involvement after hospital privatization are included. Governmental
officials and health system managers must look carefully at sustainability
strategies and health management educators must emphasize key competencies
necessary to manage system change effectively. Policy makers must carefully
consider governmental sustainability initiatives to limit worldwide competitive
market forces as the sole determinants of acute hospital access.
Author(s) Details:
Michael M. Costello,
Department of Health Administration & Human Resources, The
University of Scranton, Pennsylvania, United States.
Daniel
J. West,
Department
of Health Administration & Human Resources, The University of Scranton,
Pennsylvania, United States.
Bernardo Ramirez,
Department of Health Management & Informatics, University of Central
Florida, Orlando, Florida, United States.
Please see the link here: https://stm.bookpi.org/RRAASS-V7/article/view/14019
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