An COHO generally refers to a company that provides support services to its offices correlated companies regionally and globally.
SQ. What do you mean by health economics? Discuss the role of economists in healthcare industry. SQ. Discuss the importance of financial information in Healthcare Organizations.
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Answer. Importance of financial information in Healthcare Organizations: Managing the finances of any health care business nowadays is like driving a car with foggy windows.The industry has been changing in big ways since long before the Affordable Care Act took effect. Medicare’s coding system for billing and the advent of electronic medical records are examples of these changes.
Financial management in health care requires exceptional skill. SQ. Explain different methods of evaluation of healthcare services. Answer.
Health Care Evaluation: Study design for assessing effectiveness, efficiency and acceptability of services including measures of structure, process, service quality, and outcome of health care.Steps in designing an evaluation Firstly it is important to decide which dimensions are to be evaluated? Inputs, process, outputs, outcomes, efficiency etc. Objectives for the valuation itself should be set (remember SMART) – SQ. Define cost accounting. Explain the various categories of costs. Answer. Cost Cacao noting: A method of accounting in which all costs incurred in carrying out an activity or accomplishing a purpose are collected, classified, and recorded.
This data is then summarized and analyzed to arrive at a selling price, or to determine where savings are possible. SQ. What is financial reporting? Explain the need for financial reporting. Answer. Financial reporting involves the disclosure of financial information to management and the public (if the company is publicly traded) about how the many is performing over a specific period of time. Financial reports are usually issued on a quarterly and annual basis.