MH0054 – Finance, Economics and Materials Management in Healthcare Services

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Summer 2013

Master of Business Administration in Healthcare Services Management - Semester 3

MH0054 – Finance, Economics and Materials Management in Healthcare Services- 4 Credits

(Book ID: B1215)

Assignment (60 marks)

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of

400 words. Each question is followed by evaluation scheme.

Q1. What are the different types of budgets? Explain the budgeting process for healthcare services.

Answer : Types of budgets :

1. Sales budget

2. Production budget

3. Capital budget

4. Cash flow/cash budget

Q2. Explain the concept of demand and supply in healthcare.

Answer : Concept of demand in healthcare :

The economic demand of the health sector primarily focuses the ability to cure and care the sick or ill patients in the hospitals, clinics and medical care. As a service-oriented business on health care is supported by the medical personnel such as physicians, nurses, attendants, caregivers and midwives. The demand on health care It is also presents the medical inputs in curing illness or disease of the patient such as medicines, laboratory facilities and equipment and other tangible medical products.

 If an individual decides to be confined

Q3. Define health insurance. Explain the barriers in implementing a social health insurance scheme in India?

Answer : Health insurance :

Health insurance is insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care and health system expenses, among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is available to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization such as a government agency, private business, or not

Q4. Discuss the applications of health economics.

Answer : Applications of health economics :

1. The science of economics offers theories, tools and concepts that can help to analyze data, evaluate interventions, and formulate priorities for the allocation and distribution of resources.

Both micro-and macro-economic analyses of emergencies can reduce uncertainty and improve the decision-making process. Micro-economic tools are useful to compare and prioritize potential interventions. They can help structure and analyze information and facilitate programme

Q5. Explain the need and scope of financial management in hospitals.

Answer : Need of financial management in hospitals :

• Evaluation and planning.

 First and foremost, financial management involves evaluating the financial effectiveness of current operations and  planning for the future.

• Long-term investment decisions.

Although these decisions are more  important to senior management, managers at all levels must be concerned with the capital investment decision process. Such decisions focus  on the acquisition of new facilities and equipment (fixed assets) and are the primary means by which businesses implement strategic plans; hence, they play a key role in a business’s financial future.

Q6. List the important health expert committees in India. Discuss the origin and functions of these committees.

Answer : Health expert committee in India :

1. Bhore committee. 1946

2. Mudaliar committee , 1962

3. Chadha committee , 1963

4. Mukherjee committee , 1965

5. Mukherjee committee , 1966

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