The Role Of Social Determinants In Healthcare Finance

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Healthcare Finance Summative The healthcare system in the United States has been a topic of debate and argument with discussions surrounding access, affordability, and quality of care. Under the current presidential administration, efforts have been made to create a healthcare plan that addresses these issues and improves the overall well-being of the population. A crucial aspect of healthcare policy is recognition of social determinants of health, which can impact an individual’s health outcome. It is essential to examine how social determinants are evident in existing healthcare policy, and how the current administration is working to address these factors to create a more equitable and effective healthcare system. Healthcare System Summary …show more content…
The current administration recognizes the impact of social determinants such as income, education, and housing on health status impacts and is working to incorporate strategies to address these factors in healthcare policy. The administration is also exploring ways to reduce the costs of prescription drugs, making them more affordable. To offset the costs of these initiatives, Biden aims to contain and reduce spending on prescription drugs, end surprise billing, and increase taxes on high-income households and corporations (Understanding Joe Biden's 2020 Health Care Plan, 2020). Estimates indicate that President Biden’s healthcare provisions will cost between $150-$200 billion, elimination of advertising drug deductibility for drug manufacturers could generate revenue close to $15 billion, and raising capital gains tax rates could bring in an additional $500 billion (Understanding Joe Biden's 2020 Health Care Plan, 2020). Overall, the Biden administration’s healthcare policy and plan aim to achieve cost-savings through a combination of revenue-generating measures and strategic …show more content…
Under the current administration, efforts have been made to expand access to healthcare services, affordable housing options and educational opportunities to assist in reducing health disparities. Federal legislation is aimed at alleviating inequities and giving focus to these determinants so policymakers can work toward creating a more equitable healthcare system and address the root causes (Napierala, et al., 2024). Presidential Administration Organized Healthcare Plan The current presidential administration has organized the healthcare plan of the United States by prioritizing initiatives such expanding access to affordable healthcare coverage through Medicaid expansion and the Affordable Care Act (Scheffler, 2021). The administration has also focused on addressing prescription drug pricing through measures like allowing Medicare to mediate drug prices and implement policies to increase transparency in drug pricing. Improvements in healthcare affordability and transparency and investing in preventative care have also been key components of the administration’s healthcare
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