Financial management provides the theory, concepts, frameworks and tools needed to assist managers and leaders make better financial decisions.
Healthcare and health services industry in general is really unique as we are generally in a context of a complex industry, Not-for-profit organizations, Third-party payers’ systems, operations with high urgency and a usually higher governmental involvement.
Healthcare managers, and more specifically financial managers, have the primary responsibility of producing, reviewing, evaluating and reporting monetary statements for the organization or a subdivision of the organization. They rely on different techniques and tools to conduct data analysis so that they can advise the senior management and the executives on effective strategies to improve revenue and optimize investments and spendings.
This video shares some more insights about the most important concepts of Financial management in Healthcare.
#Healthcare #Finance #Financialmanagement
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Dr. Khaled OUANES, Ph.D.
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Reference:
Main concepts based on Pink, G. H., & Song, P.H. (2020). Gapenski’s understanding healthcare financial management (8th ed.) Chicago:
Association of University Programs in Health Administration and Health Administration Press.

Thumbnail graphic Image by vector4stock on Freepik : [ Ссылка ]

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