The Intersection of Finance and Healthcare: Financing Healthcare Delivery Systems
DOI:
https://doi.org/10.62843/jefr/2022.1715003Keywords:
Finance, Healthcare, Delivery System, Budgeting, Value-based Care, Financing Models, Universal Health CoverageAbstract
The Intersection of Finance and Healthcare: Financing Healthcare Delivery Systems" explores the complex relationship between finance and healthcare, focusing on the financing of healthcare delivery systems. The article discusses the importance of effective financial management in healthcare organizations, including budgeting, revenue cycle management, cost containment, and financial reporting. It also examines the role of finance in promoting patient care and saving costs through strategies like accountable care organizations and value-based care models. The article highlights the significance of financing for medical innovation, research, and the creation of novel treatments and cures. The article also discusses the importance of financing for attracting, training, and retaining a competent healthcare workforce. The article emphasizes the significance of sustainable finance in accomplishing universal health coverage and mitigating inefficiencies within the health system. The article examines various healthcare financing models, including tax-funded healthcare systems, social health insurance programs, private health insurance models, and hybrid healthcare finance models. The article also discusses the historical perspectives of healthcare financing, including the creation of publicly funded healthcare systems and the Affordable Care Act. The article concludes by examining the current landscape of healthcare financing, including global trends in healthcare spending and funding schemes. The article emphasizes the importance of balancing clinical efficacy and financial efficiency in healthcare finance systems and overcoming obstacles like fragmentation of services, bureaucratic obstacles, and administrative inefficiencies.
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