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Question

Describe how third-party health insurance affects the decisions of providers (e.g. Physicians and hospitals), patients, and payers (e.g., government, employers, and managed care organizations)? Choose and defend one perspective. Reference and cite evidence-based management research (scholarly or trade publications), professional experience, and personal opinion to support your response.

Answer

Introduction

Third party health insurance refers to the health insurance coverage that entitles a third party like insurance company to pay to the healthcare provider for services offered to the patient. Here the insurance company is the ‘payer’ and doctor, hospital or any healthcare organization is considered ‘provider’. Third-party health insurance is, in current times, the most adaptable and flexible choice for health insurance (White, 2006).

Effect on patient’s decision

Third-party healthcare insurance is indeed a beneficial option for the patients as this insurance coverage puts all financial burdens over the ‘payer’. The patient has to only pay the insurance premiums on time just to entitle the benefit of the insurance coverage. However, for certain small services like medication and doctor visits, the patient is supposed to pay from his own pocket, but for everything else, the insurance company reimburse the amount up to the amount limit of the insurance policy (White, 2006).

Third-party health insurance quite a few times affects the decisions of the patients in the following ways:

Conclusion

With the above discussion, it is clear that third party health insurance is an advantageous option for the people, but it should be used efficiently and a sound health should be maintained with proper preventive measures.

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