Question

What is the role of financial management in Public Health agencies?

Answer 1

Financial management in the healthcare industry means handling financial operations by negotiating contracts and bids and managing cash flow.

For example, that hospital buying the physician practices and become a employee of that hospital. The hospital builds a larger and steadier payment stream: It gets money from the entire spectrum of medical care from tests to surgery to rehabilitative services. Preventing expensive medical vonditions a health maintenance organization, which may have the same patients for many years, shares the goals of a public health agency and preventing expensive illnesses by keeping patients healthy. Medical research is indispensable.

Financial management is an art and a science in any industry, but health care is particularly challenging because the industry changes so fast. It changes with instance and insurers have had to recalculate their plans and their premium structures. So this type of changes brings new challenges in public health care or agencies and sloved by only when if there will be financial management.