Importance of Hospital and Healthcare Management

Healthcare is an emerging technologically advanced industry with high potential for growth in the coming years. The current growth of this sector in the overall economy is robust, with an expected estimate of $280 billion in size by 2020. The annual growth rate of 16 per cent has increased the dire need for a proper policy framework, infrastructure, and human resources in the sector. Read details at bit.ly/2w0aLaN

This robust growth trajectory in the healthcare sector has called forth vast employment opportunities and significant economic development. However, such a steep growth has also led to myriad challenges and opportunities for improvement within the sector. Most importantly, the healthcare industry is witnessing the impact of technological innovations and strong administrative improvements in the success of every organization. This is why the future of the Indian health system relies on the ability of the hospitals and healthcare organizations to implement efficient management and administration panels. 

Today’s healthcare sector is witnessing more and more challenges, but still, opportunities are abounding for hospitals to focus on delivering quality healthcare for the patients. They have to focus and prioritize the challenges in the sector and introduce effective management strategies to harness the opportunities. For this, health care management turns out to be the most beneficial and effective solution.

With the right management team, hospitals and other healthcare organizations can enhance their ability to churn the various opportunities within this sector, and by the way, facilitate the organization to continue growing further. The healthcare management plays a prominent role in bringing significant contributions to the improvement of the health standards in the sector, and this why the importance of hospital and healthcare management has become inevitable.

Why is Hospital and Healthcare Management Important?

Since healthcare sector is incredibly complex, it is necessary for the industry players to eliminate the organizational barriers through efficient management professionals. The leading healthcare providers count on effective hospital management to cope with the burgeoning industry demands and stay ahead of the curve. Recognizing the increasing complexity in administration, the healthcare organizations are in the hunt for management professionals with right knowledge and training. Only by having trained healthcare management professionals, can the organizations grow along with the industrial upsurge.

It is gradually becoming more of a necessity forthe healthcare organizations to effectively manage all their operational, financial, and administrative needs. The dynamic healthcare organizations are constantly looking out to equip themselves with efficient healthcare managers who can provide direction, leadership, and establish coordination among the employees in the organization.

There are various roles that administration staff plays inside the management domain. The major duties and abilities that these management and administration professionals are required to perform include:

Coordination: It has to be noted that the scope and complexity of organizational tasks require the right kind of coordination from various specialized disciplines to work together seamlessly. Managers make it possible by coordinating with professionals of all departments in the best possible way so as to meet the demands of patient needs and healthcare delivery.

Decision-making: Management professionals are placed in positions of authority to make important decisions that shape the future of the organization. They play a vital part in the development of staff, service additions/reductions, and infrastructure development, acquisition of new technology, as well as allocation or spending of financial resources.

Management: Healthcare managers are needed to make certain that the organization’s physical, financial, and human resources are adequate to support the hospital organization. Moreover, management professionals put knowledge management systems at the center of their working and facilitate better flow of information. This would certainly result in better and more-informed decision-making to provide the best possible healthcare.

Teamwork: Management professionals drive teamwork and help the organization in achieving operational excellence. The team-based responsibility of management in healthcare marketplace targets attaining better patient care within the facilities. When a management professional holds strong team building abilities, they are sure to bring success to the organization by improving communications, minimizing organizational flaws and incorporate multiple perspectives in every aspect of administration.

Others: The other responsibilities include working and coordinating with medical professionals to improve patient care and healthcare delivery, and staying abreast of the existing and forthcoming changes in the industry to comply with the new laws and regulations. They are also responsible for managing the day-to-day operations and supervision, creating work schedules for both direct and indirect healthcare providers, creating financial budgets, managing patient records and processing claims/insurance papers. Besides, healthcare management professionals are the ones to represent the organization to potential investors and any governing boards.

Overall, healthcare management professionals ensure playing a prominent role in decision-making, utilization of resources and knowledge management to ensure that patients receive the most appropriate, timely, and quality healthcare services.

Undoubtedly, management professionals have an inevitable role to play in the healthcare sector. Today, where hospitals and healthcare organizations are keen on building, improving, and maintaining high standards of patient care and healthcare delivery, it would just not be possible to meet these goals until and unless organizations equip themselves with well qualified, professionally trained, and highly efficient healthcare management professionals.Management and administration, constitutes an important aspect of healthcare delivery with a major impact on the overall performance of organizations, and should be, hence, given due significance in the healthcare sector.

Author :-
Dr. Sanjiv Kumar
Director
IIHMR, Delhi