Video Clip: Health Behaviors
Money Talks: Healthy Behavior with Financial Incentives?
Ideally, medical care and financial rewards should not go hand in hand. However, the medical world has undergone a drastic change in recent times and health care professionals have joined the ‘incentive’ band
wagon. With the ‘pay for performance’ initiatives, government regulators introduced monetary incentives to improve quality and safety of patient care. As a result, hospital systems have to achieve practice guidelines to earn compensation. Demonstration projects across the nation proved that doctors performed better when offered monetary benefits.
Health care planners are looking to monetary incentives and disincentives to provide better health care and control costs. This concept is good for federal regulators and hospital managements, but our own health is too precious to be in the hands of regulators and we must make sensible lifestyle choices.
So, can monetary incentives prevail when medical advice and common sense have failed? Surprisingly, two studies have confirmed that the answer is a resounding YES!
Take Our Poll: Using Online Health Sites
A health insurance policy covers you in the case of health-related conditions such as a disease or an illness. It pays the medical expenses you incurred if you were a victim of an accident. The insurance company makes your financial risks manageable by paying an agreed sum of money to the concerned person. It protects people from the risk of financial loss caused by the exorbitant cost of medical care, and caters for both long-term and short-term illnesses. The skyrocketing price of hospitalization for medical care could put you and your family at risk from bankruptcy if you lack health insurance. The health insurance policy is an agreement by your insurance company to cover the cost of benefits covered in your policy.
In the United States, many people get health insurance through their employers, and often through managed care plans that contract with health care providers and facilities to provide health care at reduced costs to its employees. You can buy your own health insurance but it may cost you more. Government health insurance, Medicare and Medicaid, is available to individuals who meet certain criteria.
