With the amazing advances in health care in recent decades, one question that continues to stir debate within the political arena and from a personal perspective is: “How to pay for health care” Health care managers must be good stewards of their resources to allow the funds available to do the greatest good for the largest number of people. Health care finance information is critical to assessing the financial condition of an organization, as well as accessing whether the resources being spent are achieving the goals of the organization.
To prepare for this Discussion, select a recent (within 5 years) relevant article from the Walden University library and current information from Centers for Medicare & Medicaid Services, U.S. Department of Health & Human Services, and the Healthcare Financial Management Association, Knowledge Center, that addresses the importance of health care finance information in decision making within the health care setting.
Post a comprehensive response(250-350 words) to the following:
How do health care managers depicted in the article and website information you selected apply the principles of financial management to decisions, to the assessment of the financial condition of an entity or stewardship, or to the assessment of the efficiency, effectiveness, and compliance with organization directives?
Reference to files below:
Cleverley, W., Song, P., & Cleverley, J. (2011). Essentials of health care finance (7th ed.). Sudbury, MA. Jones & Bartlett.
Chapter 1, “Financial Information and the Decision Making Process”
Cleverley, W., Song, P., & Cleverley, J. (2011). Essentials of health care finance (7th ed.). Sudbury, MA. Jones & Bartlett.
Chapter 3, “Financial Environment of Healthcare Organizations”
https://www.cms.gov/
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USW1_HLTH_4000_9780763789299_Chapter_1.pdf
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USW1_HLTH_4000_9780763789299_Chapter_3.pdf
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