Reviewing healthcare financial management: Strategies for cost-effective care
1 Independent Researcher, Indianapolis Indiana, USA.
2 Independent Researcher, Houston, Texas.
3 Independent Researcher, Lagos.
4 Independent Researcher, Chicago, USA.
Review Article
World Journal of Advanced Research and Reviews, 2024, 21(02), 958–966
Publication history:
Received on 04 January 2024; revised on 11 February 2024; accepted on 14 February 2024
Abstract:
This research investigates the dynamic interplay between healthcare financial management and the pursuit of cost-effective care. The study explores operational efficiency strategies, value-based care models, and technological innovations. It explores their impact on economic outcomes and regulatory compliance. Governed by acts like the Affordable Care Act and initiatives like MACRA, the regulatory landscape significantly shapes financial strategies. Technology, including data analytics and electronic health records, emerges as a critical enabler for optimizing financial efficiency. Evaluating financial outcomes, emphasizing return on investment and cost-effectiveness ratios, reveals the intricate link between fiscal responsibility and enhanced patient care. While challenges persist, including resistance to change and limited resources, the study underscores the imperative for a balanced approach, recommending continued research into long-term financial impacts and innovative financial models aligned with value-based care.
Keywords:
Healthcare Financial Management; Cost-effective Care; Regulatory Landscape; Technology Integration; Financial Outcomes
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Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0