Phelps has several inpatient services that include medicine, surgery, psychiatry, obstetrics, pediatrics, as well as physical therapy and rehabilitation. This article provides an overview of the various financial issues currently facing the healthcare system and offers solutions to help resolve these financial issues. Doctors, both older and younger, present recommendations for solving these problems and their ideas are compared and contrasted. Strategies that take into account doctors' recommendations to keep them involved in the problems are proposed. Say no to plagiarism. Get a custom essay on "Why Violent Video Games Should Not Be Banned"?Get the original essayPhysician-Phelps Hospital RelationsWith the passage of national health care reform by Congress, Phelps Memorial Hospital is expected to lose 3 .5 million dollars per year for the next ten years. This is largely because Medicare and Medicaid reimburse Phelps at a rate lower than the costs of the surgeries. A major contribution of Phelps is that they raise approximately two to three million dollars a year through philanthropy. Despite predictions of losing money each year, specialists are calling for more benefits for being on-call in the emergency room, as well as additional pay for low-income and Medicaid patients. Over time, hospital reimbursements decline, costs rise, and employees turn to Phelps because of the guaranteed income and paid health benefits. These benefits have become a contributing factor to Phelps' loss of revenue. Thanks to Congress's approval of health reform, services like Medicare are holding hospitals back because of the financial burdens they bring. In order to solve the problem of Phelps losing $3.5 million a year and the problems that lead to potential debt, Phelps must implement strategies to help make the health care system as cost-effective as possible. Dr. Robert Seebacher, Director of Joint Replacement Services, is responsible for supporting Medicare and Workers' Compensation services. Medicare is only able to pay a fraction of what third-party insurance companies can pay and since Phelps' profit margin is extremely understated because of this, Seebacher is required to perform a hundred joint replacements just to fund his insurance. against professional misconduct. Medicare reimbursement pays $1,200 for knee surgery, while out-of-network insurance would reimburse $22,000 of resources (Kovner and McAlearney, 2013). With reimbursement ineffective in covering the resources used for operations, a strategy that could help Phelps with his finances became vital. Unnecessary surgeries and excessive treatments at Phelps are a factor that hinders financial growth. A strategy to stop these poor practices that result in wasted resources can play a role in Phelps' financial advancement. Doctors who participate in unnecessary actions will face discipline by being reminded of their conscious efforts or by being excised; it will be the responsibility of the CMO to do so. By consciously working toward financial efficiency, Phelps will be able to use his resources as frugally as possible, saving him money. As money is saved through a conscious effort to reduce waste within Phelps, funds can be transferred to employees who stand out. Employees who,.