What is the healthcare home model?

The medical home is best described as a model or philosophy of primary care that is patient-centered, comprehensive, team-based, coordinated, accessible, and focused on quality and safety.

What is economic model in health care?

Economic decision models aim to quantify clinical and economic benefits and harms associated with interventions to help policymakers and organizational leaders forecast prospective costs and manage likely trade-offs.

What is the role of economics in health care?

The importance of the economic model is that it provides useful insights into how health care can be organised and financed and provides a framework to address a broad range of issues in an explicit and consistent manner.

What are economic models in nursing?

Economic theory suggests that a nurse would evaluate the utility of all possible alternatives and then compare the relative costs and benefits of each option before making this choice (see Figure 1). The rational choice would be the option in which the expected benefits outweigh the opportunity cost.

What is the purpose of a medical home?

A medical home is an approach to providing comprehensive and high quality primary care. A medical home should be the following: Accessible: Care is easy for the child and family to obtain, including geographic access and insurance accommodation.

What are the 5 core functions of the patient-centered medical home?

The PCMH model is committed to providing safe, high-quality care through clinical decision-support tools, evidence-based care, shared decision-making, performance measurement, and population health management.

What is health economics and why is it important to nurses?

Health care economics is an approach maximizing the efficiency, effectiveness and value of health care delivery. Through hospital resource management, a process by which health care facilities effectively distribute their resources, hospitals can maintain financial solvency ⁠— even in a crisis.

Why is health economics important to nurses?

Like a mirror or guidepost, understanding health economics helps the nurse make sense of the often convoluted, paradoxical, and invisible yet pervasive ways economics shapes the organization, financing, and delivery of health care.

What are the basic principles of health economics?

Principles of health economics including: the notions of scarcity, supply and demand, distinctions between need and demand, opportunity cost, discounting, time horizons, margins, efficiency and equity.

How economics affects health and health care?

In the United States, the economy shapes the complex interactions among employment, health coverage and costs, as well as financial access to care and health outcomes. Available evidence indicates that, as in previous downturns,1,2 few employers plan to drop health coverage or restrict employee eligibility.

What is a health economist?

Health economists use their knowledge of economics and healthcare to evaluate how resources are used within the health service. By analysing statistics and using data models, they influence public health policy to help improve patient care.

What are the advantages of a medical home approach to health care?

The Benefits to Patients and Providers This generally results in a more informed and engaged patient—one who, through the care coordinator, has a more simplified access to care, better understands his or her own needs, and is more likely to comply with treatment recommendations and suggested preventive measures.

What is the health home model?

Like the PCMH model, Health Homes seek to reduce costs and improve care quality by reducing emergency department use, hospital admissions and re-admissions, and reliance on long-term care facilities. The key components of the Health Home model are:

What is the Medical Home concept?

The medical home concept was introduced by the American Academy of Pediatrics in 1967 as a model of primary care for children with special health care needs. It was intended to help coordinate multidisciplinary services from diverse sources to treat children with complex medical conditions and associated developmental problems.

What is payment reform in the medical home model?

As an integral part of the medical home model, payment reform restructures provider compensation to align financial incentives with health outcomes. Providers are rewarded for promoting and coordinating overall patient health and improving health outcomes while simultaneously reducing health care costs.

What is the medical home model for Medicaid beneficiaries?

The medical home model offers an opportunity for states to reduce costs and improve care for the chronically ill. These Medicaid beneficiaries tend to have complex needs and are a major driver of health care costs.