Healthcare Management
Similar to other organizations, healthcare organization also makes various expenditures from day to day. As a result, accountants and economists are responsible for analyzing the data, studying costs, trends, and so on. The analysis helps the organization in decision making. However, these two entities differ from each other. For example, an economist analyzes trends, costs, and data from the economy to know how the state economy can affect the healthcare organization. On the other hand, the accountants analyze and review financial records within the healthcare organization to ensure that financial operations are running smoothly within an organization.
The US boasts of having one of the most advanced healthcare systems across the globe. For instance, for health insurance, the US has both the public system and privatized system. However, other countries such as, Canada only have a universal system which means that all citizens get the same level of coverage (Jordan & Boucher, 2019). However, each of these systems has its flaws and advantages. Besides, the US has a system of funding most of the citizens’ medication expenses. The United States initiates systems that allow affordable care. However, Other countries such as Canada, funding for medication is very minimal. Regarding the above statistics, the US is rated as being high in the healthcare sector.
Healthcare industry faces various challenges that hinder it from becoming sustainable. Some of the challenges include; cybersecurity, patient experience, invoicing and payment processing, and so on. Cybersecurity leads to the exposure of patients records, while invoicing and payment problems affect billing (Conaty-Buck, 2017). These are some possible ways in which the challenges can be reduced. First, the billing systems made should be friendly to the patients. Besides, patient experience can be enhanced by improving the quality of care in care settings. Lastly, cybersecurity can be prevented by providing maximum security to data storage systems.
References
Conaty-Buck, S. (2017). Cybersecurity and healthcare records. American Nurse Today, 12(9), 62-64.
Jordan, D. W., & Boucher, D. (2019). US healthcare international comparisons: what are we comparing?. International Journal of Healthcare Policy, 1(1), 89-107.