MH0054 – Finance, Economics and Planning in Healthcare Services

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DRIVE	FALL  2014
PROGRAM	MBA (Sem 3), MBADS (Sem 3 / Sem 5), PGDHSMN (Sem 1)
SUBJECT CODE & NAME	MH0054 – Finance, Economics and Planning in Healthcare Services
BOOK ID	B1215
CREDIT & MARKS	4 Credits, 60 marks

1. Discuss the importance of financial information in healthcare organisations. Add a note on elements of the financial reports.

Answer :  Financial information :

Data such as credit card numbers, credit ratings, account balances, and other monetary facts about a person or organization that are used in billing, credit assessment, loan transactions, and other financial activities. Financial information must be processed in order for business to be conducted, but it must also be carefully handled by businesses in order to ensure security for customers and to avoid the litigation and bad publicity that can stem from negligent or improper use

Importance of financial information in healthcare organizations  :

1.One of the many definitions of Healthcare information technology is “the application of information processing involving both computer hardware and software that deals with the storage, retrieval, sharing, and use of healthcare information, data, and knowledge for communication and decision-making”.

2.Today, healthcare executives are under tremendous pressure to address a host of different challenges: medical errors, rising costs, inconsistent quality, inefficiency, declining doctor satisfaction, and mounting staff shortages. Dealing

2 Explain the claims process in healthcare organisations.

Answer: Cashless hospitalisation

To avail cashless hospitalization treatment at network hospitals:

Step 1: The insurance company provides the list of network hospitals offering cashless facility for treatment.

Step 2: The claimant needs to produce the insurance healthcard at the hospital.

Note: In case the healthcard is not yet issued, the

3 Explain the different types of taxes. Add a note on service tax on healthcare organisations.

Answer:  Types of Taxes are

Income Tax: The Income Tax Act of 1961 stipulates that any person who qualifies as an assessee and whose gross income is more than the exemption limit is required to pay Income Tax in accordance with the rates indicated by the Finance Act.

Corporate Tax: India Corporate Tax is the tax charged on the profits earned by associations and companies by several jurisdictions. The rate of Corporate Tax in India depends on whether the profits have been passed on to the shareholders or not.

4 Explain different methods of evaluation of healthcare services.

Answer: There are many methods to evaluate healthcare services are:

Marginal analysis

This is the one of simplest method of micro-economic evaluation. In this method, there is no need to know the total exact costs or benefits of the various services or treatments. It involves a comparison of the marginal costs and benefits of the alternative services, and it leaves much to the judgements of the decision-maker. It provides estimates of the implications of redeploying resources within, to, or from a programme where alternative patterns of care are possible. If there is no budget restraint, then a programme should be expanded or contracted to the

5 Define cost accounting. Explain the various categories of costs.

Answer: Cost accounting is the classification, recording and appropriate allocation of expenditure for the determination of the products or services, and for the suitable presentation of data for the purpose of control and management. The cost accounting normally includes the cost of job or contract, batch, process and so on. It normally illustrates the following compartments of the cost aspect of the organisation viz. production, administration, selling and distribution. The cost accounting not only reveals the amount of costs, which are

6 Explain the importance of healthcare planning. Add a note of types of healthcare planning.

Answer:  Importance of healthcare planning

Health systems in most high-income countries aim to provide a comprehensive range of services to the entire population and to ensure that standards of quality, equity and responsiveness are maintained. Although approaches vary widely, responsibility for developing the overall framework for financing and organizing health care usually lies with the central government, while governance of the health system is often shared by central and regional authorities.

Dear students get fully solved  Fall 2014 assignments

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