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Financial Management Challenges and Strategies for Public Hospitals in the Urban Medical Consortium Model

In: Proceedings of the 2023 3rd International Conference on Financial Management and Economic Transition (FMET 2023)

Author

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  • Mingzhu Wu

    (Guangzhou First People’s Hospital)

Abstract

Public hospitals in the urban medical consortium model face various financial management challenges, including fund liquidity management, income distribution and accounting, performance assessment and incentives, resource sharing and risk allocation, and financial transparency and supervision. To address these challenges, effective strategies can be implemented, such as establishing a robust budgeting and fund management system, clarifying income distribution mechanisms, establishing scientifically sound performance assessment systems, allocating risks reasonably, and strengthening financial supervision and internal controls. Future research can explore more specific challenges and solutions and enhance studies on financial management to promote the sustainable development of the medical consortium model.

Suggested Citation

  • Mingzhu Wu, 2024. "Financial Management Challenges and Strategies for Public Hospitals in the Urban Medical Consortium Model," Advances in Economics, Business and Management Research, in: Vilas Gaikar & Min Hou & Yan Li & Yan Ke (ed.), Proceedings of the 2023 3rd International Conference on Financial Management and Economic Transition (FMET 2023), pages 110-115, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-272-9_12
    DOI: 10.2991/978-94-6463-272-9_12
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