Financial domain

Money is most powerful weapon throughout decades, used in our life as backbone although many economists proved that it is real derivative of commodity as gold. Anyway; finances is last domain could be examined in process of performance measurement. In past; due to little volume of money in most of countries, that leaded to simpler working system particularly in healthcare moreover that would be effectively productive among medical workers and patients. After noticeable increment in GDB of most countries, thus; working systems got more complicated and branched in order to overcome the numbers of populations and also different kind of medical services have appeared, with supposing to be introduced at the same time. Digitalize our finances systems actually provide with many benefits on different work arena but none can deny mistakes in between and frauds appeared lately. We do not accuse anyone; but just enumerate solitary facts. Working with finance systems in hospitals and insurance firms give you heavy evaluation experience about provided services to the public and if those matching with expenses versus needs or there is necessary somehow to correct our budgets to follow the right road.

As usual nothing right would be happened without mistakes in front but the clue here how to prove the mistake with closed systems?!. At first glance; if we want to do highlighting on the working financial systems operated by most of medical service providers we need also to know more about health funding and how the whole cycle running on. In simplified notes; we have three main components of any healthcare system finances; payer/ received, insurance & health provider.

 In order to received your medical services; you firstly need to have medical insurance and whether private or public controlled by the receiver (patient). Medical insurance percent differs according to country you live; and in some country you must buy one privately if you have not the public conditions to join as US. Insurance firms funding of the medical processes and receiving their funds from health ministry and other medical social institutions, names also are different but the general strategy of work same. The public institutions collect the money from public and employers according to legal percent formerly mentioned but if you buy private insurance you have to pay services you are going to receive according to chosen insurance package. As normal; any investment should measure the coming revenue after work process been completed. The same in healthcare; we need to create revenues to exaggerate the investment and enhance the process of innovation methodologies within. In finances, we care more about revenues and expenses and how to create different productive benefits and keep the core work as it is.

Many of providers in order to create additional revenues neglect the patient burden may indirectly happen with negative feedback toward whole process or services available. The astute mind should keep in account the patient load and segment potentiality before create useless values or products. People become more and more sensitive for any change with their health delivery system; means they can accept or resist rapidly what you introduce. What reflect my talk there are many countries care more about create and fill the market with different sort of services and neglected the potentiality of patient acceptance then they discovered big depression with most of services because simply they provide services lack of real need and value.

Cycle of finance is clear if you check your expenses and revenue daily with direct avoidance overload burden on budget through excess expenses or your patients through additional services they are not actually need. Avoid aside expenses and focusing on the core necessary ones is the main crucial prescription. In case of excess revenues with some seasons; it would be better to create some investment for future on small scale give your entity additional favourable revenues that; will help in case of deprivation and depression time and also protect your labour from escaping as result of finance shortage. I wish you all healthJ