Introduction
Society nowadays uses the reward system to promote efficiency in a certain line of work, and this includes physicians,who are the primary health care providers. The laws and regulation in the United States suggest this kind of system in the medical field, to prioritize patients with health insurances. The doctors have already agreed, stating that this is an advantage for them (Fellows, 2014).
Body
In other words, the article states that US laws encourage physicians to deal with risk-based contracts. In the current state of the medical field, risk-based contract is defined as a negotiation wherein the type of payment system of health service depends on the quality of health care to be delivered by the physicians. (Gosfield, 2015). For physicians and patients, risk-based contracts must be pursue because it will be advantageous due to the increase the efficiency of the doctors brought about by the reward system. In the long run, this will save more money for the institution, not in a way where the expenses will decrease, but in a way where the quality of health care provided matches the costs of the health care needed by the patients. As for the patients, this will be also advantageous because they can assure that the health care they will receive is granted to be a high quality, without the need to increase their costs.
Conclusion
Risk-based contracts are new trends in the medical field. Though many institutions still rely on the fee-for-service payment system, the fact that some are adjusting is a sign that the medical community is now looking forward to a better quality of healthcare. This is because most physicians nowadays made revenues as their basis of providing the quality of their services.
References
Fellows, J. (2014). Physicians at the Crossroads. Health Leaders Magazine, 17(3), 10.
Gosfield, A. (2015). Understanding risk-based payer contracts. Retrieved June 22, 2016, from http://medicaleconomics.modernmedicine.com/medical-economics/news/understanding- risk-based-payer-contracts?page=full.
