Healthcare finance Essay Example | Topics and Well Written Essays - 250 words

Healthcare finance - Essay Example Once this is understood, the organization can accurately assess the profitability of each sector, clinical management, service lines or provider relationships in order to ensure growth in revenues and scalability (Glaser & Sett). Performance of each subsector can then be analyzed hence given room for improvement. To lower costs and enhance efficiency, there is need to revise networks in order to enhance coordination across health care services delivery. Accessibility of health care records to a greater amount of staff, physicians and clinicians is vital to ensure the speed of delivery and determine the individual cost of services offered. All these can be achieved through technology. Over the past, Electronic health records, revenue cycle management and costing systems have been operating individually, hence the high cost of delivering health care services. Since relevant technology started creeping in, from the integration of data storage facilities with the internet, the flow of information has been quick and accessible at numerous places at a one moment (Glaser & Sett). When health care data is recorded and coupled with time stamps, cost can be recorded instantly and bills can be calculated faster. This data is then recorded and will be accessible anytime for