A Study On Financial Management In Healthcare Organizations

Abstract

This paper examines health insurance as a source of healthcare finance from a strategic and business model standpoint. It tracks healthcare financing with the help of the health insurance scheme and to look into developments in the healthcare business and the total disease load. We find that the health insurance market is extremely competitive and that concentrating on key success characteristics might provide insurance firms a competitive edge. The business model for health insurance is distinct, comes in a variety of configurations, and mostly entails strategic decisions and their effects. We provide a list of processes that health insurance providers can use to increase their profitability and secure a long-term competitive edge. We advise insurance businesses to create and implement a cutting-edge business strategy focused on reducing the claim ratio while concurrently raising customer willingness to pay.