Socioecomic factors that affect healthcare finance and nursing practice include consumers that are either classified as having low or moderate, as income is directly related to the ability to afford healthcare insurance. For many providers and healthcare organizations, the concern of consumers not being able to pay is considered as it is directly related to revenue and gain profits. Other socioeconomic factors that affect a consumer’s ability to afford healthcare or get healthcare is education, and occupation.
The difference in that of sociopolitical factors is that the government is involved regarding healthcare as in Medicare/Medicaid services that has guidelines set for the consumer on what care they can receive and whether or not they have certain coverage available to them for them to be able to receive healthcare. From a nursing perspective, I have witnessed patients who have Medicare/and Medicaid be denied services or healthcare because a provider refuses that type of insurance. The sociopolitical factor is a concern and it can be helpful for some consumers who have providers that accept and welcome government insurance, however, it can also be difficult to some who don’t have the means or resources to pay out of pocket or find other providers accepting insurance. For those who don’t have insurance at all, it can most definitely impact the member negatively especially if something happens, like an accident occurs where they will have to be hospitalized. Although knowledge indicates a crucial role for socioeconomic and related social factors in shaping health, healthcare finance is affected directly and nurses are seeing this in hospital reimbursement, when patients are denied extended stay due to lack of health insurance. Overall, we must take into account the effects of socioeconomic and sociopolitical factors that are “compelling that it cannot be ignored insofar as public health and health-care personnel are committed to health (Braveman & Gottlieb, 2014).
Braveman, P., & Gottlieb, L. (2014). The social determinants of health: it’s time to consider the causes of the causes. Public health reports (Washington, D.C. : 1974), 129 Suppl 2(Suppl 2), 19-31.