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Related Experiment Videos

Evidence-based financial management.

Steven A Finkler1, Richard J Henley, David M Ward

  • 1Wagner School, New York University, New York, USA. steven.finkler@nyu.edu

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|October 17, 2003
PubMed
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Evidence-based financial management, similar to evidence-based medicine, offers a framework for healthcare providers to enhance decision-making. This approach guides the collection and utilization of evidence to improve management outcomes.

Area of Science:

  • Healthcare Management
  • Health Economics
  • Financial Administration

Background:

  • Evidence-based medicine (EBM) has revolutionized clinical practice by emphasizing empirical data.
  • The principles of EBM can be extended to administrative and financial domains within healthcare organizations.
  • Effective financial management is crucial for the sustainability and quality of healthcare services.

Purpose of the Study:

  • To introduce and define the concept of evidence-based financial management (EBFM) in healthcare.
  • To propose EBFM as a structured approach for improving healthcare management decisions.
  • To highlight the potential benefits of integrating evidence into financial strategies.

Main Methods:

  • Conceptual framework development.

Related Experiment Videos

  • Literature review of EBM principles and their application in management.
  • Analysis of decision-making processes in healthcare financial management.

    • Main Results:

    • EBFM provides a systematic approach to financial decision-making.
    • It encourages the use of data and research to support management choices.
    • Potential for improved resource allocation and financial performance.

    Conclusions:

    • Evidence-based financial management offers a valuable framework for healthcare providers.
    • Adoption of EBFM can lead to more informed and effective financial strategies.
    • Further research is needed to explore the implementation and impact of EBFM.