Financial Management in Healthcare Organizations

HEALTH FINANCIAL
MANAGEMENT

Introduction
• Benson Regional Medical center has been finding the opportunities
for incorporating more alternative and complementary medicines.
• This goal become possible after federal grant has been awarded
from Nation Center for the Integrative and Complementary Health.
• Despite of the western trained skepticism providers of the non-
traditional therapies or medicines forms, there has been increasing
body of the evidence for supporting combinations of the
conventional and complementary medical therapeutic interventions.

Continued..
• Hence, for the consumers, complementary medicine is
considered to be less expensive compared to conventional
treatment, as it is attractive for the patients who have tried
more approaches of traditional treatment with no or limited
success and it is having easy accessibility.
• The analysis of cost volume profit has been done for
determining breakeven points of sales and volume for three
alternatives of CAM, which are yoga therapy, biofeedback and
acupuncture.

CAM Alternatives
• Acupuncture is the first alternative. It is ancient process that is rooted in
the Eastern medicine, in which solid and thin needles are inserted in
body strategically and it is manipulated carefully by practitioner.
• Biofeedback is the second alternative. In this, power of mind is
harnessed by patients and become aware of the things going inside their
body for gaining more control over health.
• Yoga therapy is last alternative. It encourages integration of spirit, body
and mind for improving physical and mental health (Finkler, Smith &
Calabrese, 2018).