The considerable increase in health care cost, has posed a real trouble on the government, household budgets and health insurance policies based on employment. This is because an increase in health care services leads to decrease in the number of patient turn up for treatments. However, there are ways in which health care industry can reduce the cost of products and services without jeopardizing the safety and care of their patient. There should be an increasing equality, a sort of equilibrium between the three sides of health care service. which is the cost, the quality and accessibility. They are also known as the “iron triangle” of health care. Healthy competitions, on price and non-price services are good as it is beneficial to health care. Such competitions leads to decrease in the price of health care services, improves higher quality and encourages new ideas and method in health care industries, therefore creating a wider access to health care services and products.
More so, governments and governmental organizations that are in charge of health care industries in the country can help out, through increasing the salary of the health care providers. In this way, health care providers will work harder to provide good services at a lesser price, as a result of good working condition. Also cutting down of unnecessary services and rendering the necessary ones effectively, especially to patients with chronic health condition. This could help reduce the cost of health care services. Encouraging individual to obtain an insurance policy for their life, these subsidies the amount they will have to after for each health care service rendered to them. In developed countries like USA, where health insurance are one of the means by which pay for their health care services, government should convince the people, especially the aged population who do not work anymore to get an insurance. Public funded programs such as medicare should be brought to notice through media means.
However, in order to achieve all, this certain decisions have to be made, and decision as presented by the economists is a choice made by two or more individual. That is why Goetghebeur, wrote that, “healthcare decision making is a complex process relying on disparate types of evidence and value judgments, ( Abstr. Goetghebeur 2008 ). In a healthcare sector decision making process can either be individual or joint, depending on its management system. Joint decision making process would be the best for a health care industry considering the different managerial levels and also because of its management system; this includes multi-voting and majority voting. More specifically majority voting would be preferable as it exhibits democratic system. It involves allowing people to make a choice of the option which is favorable to them, once main options has been set, and this help every member of the management board to feel a great sense of belonging.
Nevertheless, the majority voting decision making process has its advantage and disadvantage. Its advantage is that it is fast and can yield a great result depending on the vote if forgo by accurate result. This is more effective if a room is created for individuals to discuss and share their view before the voting commence. The disadvantage of the system of decision making is noticeable, as a result of its quick nature it could lead to controversies and enmity between the member of the decision making body. This is because it does not create much opportunity for understanding of each other, which leads to people voting out of their personal feelings, thereby creating losers and winners which eventually divides the team.
In conclusion, the accessibility, cost and quality of health care industries depends a lot on the decisions made by the management boards. Cost of services and products can be reduced without compromising patient care and safety thorough public funded policies and health care industrial price and non-price healthy competitions. Also, government provided subsidies can also help a lot.