Question

What is the “international standard” in health care finance and management? Describe some of the variations within the general standard.

Answer 1

In view with the finance and management, the international standard of healthcare industry basically consists of three main components

1) Hospital activities

2) Medical and Dental Activities

3) Other human activities

These three components collectively get to determine the finance and accounting details of the entire industry. However there are some variations regarding the general standard. For example- it does not give an overview of the research activities in terms of treatment methods wgereany corporate hospitals hugely get to invest in it.Some argue that these come under hospital activities but they dont. These also play a major role in the financial management of the industry where such factors are to be taken into consideration as the fourth part.