Why is healthcare finance important to a healthcare organization? Has it become more or less important in recent years? Support your answer with an example. Respond to at least two (2) of your classma

Healthcare Financing
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Institution
Healthcare Financing
Over the years, healthcare financing has become more important due to the role it plays in successful operation in any medical organization. For example, medical facility financing is vital for an organization to evaluate and plan their functions. Decisions made by a medical facility or a healthcare organization must consider the prevailing financial situation. With proper financing, a facility will without any doubt make a sound decision (Nowicki, 2011). For instance, after the facility makes evaluations and emergency room activities and finds out that they are not attracting enough patients as a competing hospital that has more space, quality equipment or a higher number of doctors, the facility can decide to expand. The expansion is only possible if the medical facility or organization is well financed.
There are numerous reasons for importance of financing healthcare organizations. A good example is that a well-financed healthcare organization will deliver quality services needed by the general population. As mentioned earlier, medical facility just like any other business needs financing to operate successfully. With right funding, a facility will not luck essential items for primary or secondary care to meet the medical needs of the population. Facilities that run out of finance offer below quality care to their patients. With right financing, therefore, all the necessary services may be devolved under one roof for easy access.

To conclude, in the recent years, healthcare organization financing has become even more critical. A second example of importance of financing healthcare organization is that it provides medical equipment. With the sharp rise of diseases, financing research and acquisition of medical facilities that handle these emerging conditions are necessary. All these require money which must come from the financial department. Just like in the past, therefore, financing healthcare organization remains a substantial undertaking.
ReferencesNowicki, M. (2011). Introduction to the Financial Management of Healthcare Organizations. Chicago: Health Administration Press.