Management Healthcare Finance
Management Health Care Finance: Thesis Statement
Introduction
It is not possible to divorce effective healthcare provision from good financial management skills. Today, performance in the health sector is immensely influenced by both external and internal economic factors. This is because health institutions and organizations largely operate in a way similar to business organizations in many ways. Health institutions purchase supplies, most of which are consumables, and incur expenses. They also pay their workers and receive money from their clients. A well founded financial management system complete with qualified staff is therefore necessary to ensure that health organizations and institutions operate in a way that does not expose them to financial problems.
Today, health economics experts view health services provision the same way a manufacturer would view its products (Sherman, 2010). Production of health involves the conventional factors of production such as labor, capital and, in certain instances, even entrepreneurship. Health production is, however, affected by many other factors that are only unique to the field. Factors such as age, sex and infrastructure may influence the quality of health in a fundamental way. To mitigate these problems, it is important that both health and economics oriented solutions are sought. This underscores the need for a strong health management finance teams on the ground. Health institutions are exposed to competition in the labor market just like other business organizations. Health institutions must therefore bring on board individuals who have a good understanding of market dynamics. This is where health management economics comes in. They also have to deal with the challenge related to supplies and expenses.
This paper is going to shed light on the role of management health care finance in healthcare provision. It is going to probe into the relationship between health production and economics and make recommendations as to what needs to be done to strengthen health care through the empowerment of health care economics systems.
In conclusion, Health care management economics is the nerve center of the health care system. Health institutions must therefore make deliberate efforts to invest in it for quality health care service provision.
References:
Shernan, F, Allen, G & Miron, S. The Economics of Health and Healthcare. Upper Saddle River: Prentice Hall, 2010.
