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Related Experiment Videos

Achieving a balance between risk and return.

D E Farley1

  • 1Health Policy and Analysis, HSS, Inc., Bethesda, Maryland, USA.

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|September 30, 2000
PubMed
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Healthcare organizations can enhance profitability by managing financial risk effectively. This involves understanding patient health and treatment options, and using data to control resource use variations.

Area of Science:

  • Healthcare Management
  • Health Economics
  • Risk Management

Background:

  • Healthcare organizations often avoid financial risk by transferring it to other entities.
  • Risk-bearing entities require comprehensive patient health status and treatment efficacy data to improve financial performance.

Purpose of the Study:

  • To explore risk management strategies for healthcare providers and health plans.
  • To identify methods for improving return on assets through effective risk management.

Main Methods:

  • Analysis of risk management strategies in healthcare.
  • Examination of data requirements for analyzing resource use variations.
  • Discussion of incentive design for controlling resource use.

Main Results:

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  • Risk-bearing organizations can improve financial returns with complete patient and treatment information.
  • Strategies include growth, incentive design, and controlling resource use variations.
  • Data analysis is crucial for understanding and managing resource use efficiency.

Conclusions:

  • Effective risk management is key for healthcare organizations to improve financial performance.
  • Data-driven strategies and incentives are essential for controlling resource use and enhancing efficiency.