Essay on Healthcare Finance Chapter 1 and 2

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Chapter 1- Question and Answers 1.1 a. What are some of the industries in the healthcare sector? Some of the industries in the healthcare sector are health insurance, pharmaceuticals and biotechnology, medical equipment and supplies and health services. Others include education institutions, government and private research agencies. b. What is meant by the term healthcare finance as used in this book? Healthcare finance is a term used in this book to describe accounting and financial management principles and practices used to ensure the financial well-being of health care organizations. c. What are the two broad areas of healthcare finance? The two broad areas of healthcare finance are accounting and financial…show more content…
The role of finance is to make health service organizations maximize their resources to increase their efficiency and their value. b. Has this role increased or decreased in importance in recent years? This role has increased in importance over the recent years, because of health care reform changes and economic crises. 1.4. a. Briefly describe the following health services settings: * Hospitals- provides general, acute care, diagnostics, surgery, usually for patients who need several hours of care. Recent operations allow shorter lengths of stay, which results in excess capacity. Hospitals can vary in size from 25 beds to 1000’s of beds. The constant nursing to patients make them labor intensive. * Ambulatory care-outpatient service, not requiring overnight stay; walk-in clinics, surgery clinics, provide services at lower costs than hospitals such as medical practices or emergency care. * Home health care- brings many of the same services provided in ambulatory care settings into the patients’ homes. This can help with day-to-day activities. * Long-term care- this is provided for individuals who are unable to perform day-to-day activities (i.e bathing, walking, eating) due to the lack of functional ability. * Integrated delivery systems- has all the health settings mentioned above under one entity. b. What are the benefits attributed to integrated delivery systems? The

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