Health care has become one of India's fastest growing sectors in the past decade. A multitude of private players have entered this market, combining to offer high-quality health care and service in world-class hospitals and nursing homes all over India. It has been recognised that a professional approach to hospital administration and better resource allocation will go a long way to ensure both quality and cost-effectiveness in health care in India. The second edition of this successful book contains a well-planned collection of writings on modern hospital management. Revised and updated, it also contains two new chapters that discuss and highlight new developments in this field. The book spans a wide range of issues in modern hospital management, and provides all the necessary knowledge required to set up and run a modern-day hospital efficiently and as an economically viable business. The book also looks at " Customer experience management " Computer-aided diagnosis " Waste management " Financial management " Maintaining medical records " Medical audits " Managing human resources

Financial Management for Hospitals

Financial management for hospitals
P.Jangaiah

Introduction

The business of health care is becoming increasingly risky in terms of financial management. It is labour and capital intensive and the utilisation of some of the equipment and machinery rarely reaches the break-even level. The obsolescence rate is high. Cost of the equipment, land and building, personnel and other inputs spiral upwards constantly. The demand for service is unpredictable, while new hospitals are coming up at an incredible pace. They are growing in number in leaps and bounds and the existing hospitals are adding bed strength every year. The price war, which is a common feature of competition in consumer and similar industries, is crawling slowly into the health care industry in a subtle way in the ...

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