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Financial And Legal Environment Of Health And Social Care Essay

3105 Words13 Pages

Task 1: Financial and Legal Environment of Health and Social Care Service Delivery (a) Recent Developments The financial and legal environment of health and social care service delivery has experienced significant developments in recent years. These developments have had a profound impact on how healthcare organizations operate and deliver services. Some of the key developments in this area include: • Governments around the world are increasing funding for health and social care services. In the UK, for example, the government has pledged to increase funding for the NHS by £33.9 billion by 2023-24 (UK Parliament, 2020). • There has been a shift towards value-based payment models, which reward healthcare providers based on the outcomes of the care they provide. This contrasts with the traditional fee-for-service model, …show more content…

This means that a huge part of the company's assets is financed by debt. While this level of debt may increase the company's financial risk, it may also enable the company to finance growth opportunities and generate higher returns for shareholders (Délèze & Korkeamäki, 2018). In terms of the solvency position of the company, it is essential to observe that the Debt Ratio is just one of many financial ratios that should be considered. The solvency position of the company should be assessed based on a range of factors, including its ability to generate cash flow, its profitability, and the level of interest payments on its debt (Rugy & Salmon, 2022). In conclusion, the Debt Ratio of the BUPA Group is 55%, which indicates that the company is highly leveraged. While this level of debt may increase the company's financial risk, it may also enable the company to finance growth opportunities and generate higher returns for shareholders. It is important to assess the solvency position of the company based on a range of factors. (c) Traditional Finance Function for Healthcare

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