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Health Financial Management - Essay Example

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Health Financial Management Name Institution Professor Course Date Executive Summary Health financial management is an integral part of analysis and making of decisions. The broad definition of health services involves the idea of financial analysis and thereby making important decisions about the overall management of a health sector…
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Health Financial Management
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"Health Financial Management"

Download file to see previous pages The goal that becomes the end in the health financial matters involves the creation of an operational knowledge network. Various opportunities arises that help in the application of a real life situations in matters relating to healthcare. It is also important to note a complete usage of spreadsheet. This knowledge system helps in the compilation of data in the most efficient way (McLean, 2003). Introduction Financial management of the health sector provides an easy approach that streamlines the labor health care intensively. The system of management helps to ensure an increase in the efficiency level, accuracy and reduced labor cost in the entire life of an enterprise. The implementation level provides the best solution if the optimal way is applied in the course of the operation of the business (Latimer, 2012). The National Case mix Scenario The National case under study is an Australian based program that ensures development of the Refined Diagnosis and the related groups. The classification of this form of diagnosis includes the statistical body and the diagnosis centre. The statistical body is involved in the dealing and classification of disease related problems and other bodies. These include the coding standards, classification and intervention body and the modification segment (France, 2001). The model applied at the funding level created an alarming effect with senior members of the health department. This case was felt in the New South Wales with great magnitude. The magnitude emanated from the opposition in the funding process. The hospital association in Australia accepted the idea of funding. Believe in the ideology of better performance evolved from the existence of favorable arrangements at the time. Later, a committee for case mix evolved. It performed the work of determination of clinical changes as per the US regulations. This gave rise to the creation of Australian National and Australian Refined. The entire national case system gets fund from the Australian health department. The seventh edition of Australian modification happens to take place at the end of June 2013. Another event will also unfold on first of July 2013. This event will feature under the seventh edition partnership program. The seventh edition will ensure that planning and implementation takes place in the entire phase of the heath management (Willis, Reynolds & Helen, 2008). National Health and Hospitals Reform Commission (NHHRC) Report The birth of COAG is a signaling factor to the NHHRC. The COAG had a meeting that raised important agendas to focus on the NHHRC (Appleby & Aroney, 2012). Some of the recommendations included the requirement on the address of peculiar issues of regulation as a rule in the commonwealth. The Council of Australian Government (COAG) body had an agreement to increase the funding requirements of the state aimed to increase health issues. The funding initiative had a focus on capacity improvement as a main goal. It is imperatively important to appreciate work performed by the COAG (Crase, 2008). The body comprises of on dignitaries including the prime minister and other state dignitaries. The body schedules to have a meeting on April 13 2012 at Canberra. The main agendas at any meeting must revolve at some of the most important issues like the major reforms, delivery of Medicaid and the funding level aimed at the sustainability of the ...Download file to see next pagesRead More
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