The affordable care act also established the Independent Payment Advisory Board (IPAB). IPAB is an agency that the US created and mandated with working into achieving more savings in Medicare while retaining the quality and coverage. This was by establishing methods and services within the Medicare program that would work best while consuming the least. An example is in the case of treating malaria where they will have to look for a way that is most effective but cheapest (Schmidt, 2011). They do this by suggesting innovations that seek to reduce on the overall cost and are cheapest to implement. It is responsible for coming up with proposals that suggest on the best way possible of bringing down to a target level. There are also suggestions that they be mandated with covering health insurance so as to prevent doctors from raising costs to patients with private medical insurance. It has the authority to change the rates offered by the Medicare program, and congress has the power to overrule its decisions (Schmidt, 2011).
The agency makes recommendations on how to increase savings in healthcare provision. With this, it assists in improving the services since people will prefer them at a lower rate. By lowering the rate and consequently the expenditure within the Medicare program, the extra funds would be redirected into improving services and products within the medical industry. It thus ensures that the people access easily and cheap services at the same quality as before. It also encourages them to seek for the services on time.
The Patient Centered Outcomes Research Institute (PCORI) is a body that evaluates existing studies, makes research on its own and examines the clinical effectiveness, appropriateness relative health outcomes of different medical treatments. It has authority from congress to conduct research and provide information concerning the best available evidence. This evidence helps health care providers and patients make more informed decisions. The agency does its work by first evaluating what all other medical institutions and research agencies are doing or have already done (Schmidt, 2011). It either considers just the institutions work or might research on its own and incorporate it into what it is evaluating. It then comes with recommendations on the methods that are good and for use and those that might best work in curbing a problem. For example in a certain disease like malaria, it will consider all the methods and drugs that are in use, evaluates how each works and its effectiveness and comes up with a method that does it the best way (Schmidt, 2011).
The researches that the body conducts are vital in bringing up new healthcare products. This is because it will bring new ideas and innovations which can be incorporated into the medical world. It will improve the level of the current healthcare products and services through research (Miller, 2013). It also funds, use and promotes researches on comparative effectiveness which incorporates the outcomes of the research in improving real-world decisions on healthcare. One of its mandates is to increase quality, quantity, trustworthiness and timeliness of the information available. This supports health decisions and improving on quality of services offered.
It also influences the health and clinical research which others fund in a way that they will be more patient-centered. It implements patient-centered knowledge and put into practice on time. It also provides research and medical institutions with the information needed in decision-making (Miller, 2013). This includes information which addresses patients’ concerns but often not considered in traditional research. PCORI has the vision of ensuring that the public and more so patients get the information they need in decision-making that reflects their desired health outcomes. The policy mechanisms that the two agencies have are appropriate given the magnitude of challenges in healthcare. They are likely to achieve their intended purposes given by projecting their work towards reducing these challenges. One of them is rising cost of medication and accessing healthcare services (Miller, 2013).
The cost has in recent past raised at a high rate compared to that of the GDP. IPAB works towards reducing the cost of accessing the services while retaining the quality and quantity of the Medicare products and services. The other challenge in this is the rise in the cost of living. When the Medicare services are high, few people will afford the services. PCORI identifies and funds medical institutions in researches. This ensures that there is a subsidy in price. Quality of services has been a challenge in the past. This has been a discouragement since people viewed it as being inefficient. PCORI has the mandate to evaluate the available means and establish the best by considering quality, quantity and cost of service. This ensures that they raise the quality of products and services (Miller, 2013). This mechanism turns out to be effective. On the other hand, IPAB safeguards the quality despite seeking to reduce the cost. This ensures that institutions provide services of good quality increases patients’ trust in them.
PCORI has an objective to ensure that they have well informed patients. They achieve it by ensuring patients do not solely depend on Medicare service providers but can get easy guides online, on social media and video conferencing. They get an easier explanation on researches that make it easy for the agency to accomplish its objective. There are many blogs that established for patient-doctor interaction, which creates diversity. There are many parties who will discuss the matter in deep, exchange ideas and their experience on the matter. This can help them get services and consultation without physically visiting hospitals.
Life expectancy has risen in the past years. This has led to an ageing society and a large number of old people. These people are more susceptible to diseases and need medical attention. Their immunity is weak which makes it difficult to treat them. Most of the diseases that they suffer from are long-term such as diabetes and blood pressure. They are weak to be earning, which makes them unable to raise money for healthcare services. This poses a problem for the two bodies of ensuring that all the people get access to the services. IPAB has a working plan that insures the aged and mostly those above the age of 65 years. This guards them against the private insurance firms that overcharge their customers. They are now able to access services everywhere and at affordable charges.
There has been a failure to measure the quality of health care, reporting it and understanding it. The agencies ensure that they eliminate this. This is because PCORI has been on the frontline in monitoring services and reinforcing the best. There is one challenge that has been persistent. This is the lack of implementation powers for the two bodies. IPAB cannot implement changes in the rate. The recommendations that they make can be altered by the congress as it has authority over it. PCORI researches and evaluates other healthcare institutions to establish the one that offers best services. It makes recommendations but cannot implement any of them. This hinders it them from exercising the suggestions that they have which could vastly change the health sector’s state.