Final answer:
The question pertains to the main goals of healthcare financial management, including income generation and compliance with regulations. It also focuses on three critical questions for policy development in healthcare, highlighting cost, quality of life, and privacy, along with the impact of the ACA on cost control.
Step-by-step explanation:
The question addresses the six major objectives of healthcare financial management, which include the need to generate income, respond to regulations, facilitate relationships with third party payers, influence the method and amount of payment, monitor physicians, and protect tax status. When developing policies that address healthcare financial management challenges, three critical questions must be considered: How can we balance the cost of treatments and diagnoses with patient quality of life? What strategies are most effective in preserving patient privacy while still maintaining comprehensive health records? And, how can we mitigate the risks of adverse selection and moral hazard in our healthcare insurance markets and payment systems like fee-for-service and HMOs?
The Affordable Care Act (ACA) introduced measures like caps on administrative costs and the transition to electronic medical records (EMRs) to curb rising healthcare costs. These regulations are intended to streamline administrative processes and improve efficiency, which ultimately help achieve the objectives of healthcare financial management.