Final answer:
Misfeasance is an improper but legal act, malfeasance is an illegal act, and malpractice is the negligent performance by a professional. These are forms of misconduct that can have legal consequences and are particularly relevant in the healthcare sector, where they can affect programs like Medicare and Medicaid.
Step-by-step explanation:
Misfeasance, malfeasance, and malpractice are terms often used in the context of professional conduct, particularly in legal, medical, and public service professions. Misfeasance refers to a legal act done improperly. Malfeasance is an act that is illegal or wrongful. Both could lead to harm or injury and may result in legal action. Malpractice, specifically, is improper, illegal, or negligent professional activity or treatment, especially by a medical practitioner, lawyer, or public official. These forms of misconduct can lead to various consequences both in civil and criminal law, including lawsuits or disciplinary action.
In the healthcare sector, these concepts are particularly relevant given the complexity of patient care and the potential for moral hazard and adverse selection. Healthcare programs such as Medicare and Medicaid involve a fee-for-service arrangement which can sometimes create incentives that lead to misfeasance or malfeasance in providing care. The Patient Protection and Affordable Care Act (ACA or Obamacare), aims to address some of these issues by setting out standards and provisions to prevent healthcare fraud and improve healthcare delivery and patient protection.