PHN 652 Topic 7 DQ 1-Principles And Sources For Financial Management
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– Sources must be published within the last 5 years. It must be from 2016 and after and appropriate for the paper criteria and public health content.
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-References should be in APA 7th ed.
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-Add the hyperlink/DOI for each reference in APA 7th edition format.
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QUESTION-Topic 7 DQ 1
Describe financial planning and management best practices in the implementation of population-based interventions.
Financial planning and management best practices in the implementation of population-based interventions include laying out detailed financial plans that can allow healthcare facilities to introduce any proven services provided in population-based interventions. Financial planning can therefore help health care facilities or government departments to come up with an accurate and high-performing budget that can promote the sustained use of a population-based intervention (Shrank et al., 2021). Sustaining population-based interventions can therefore only be possible through a well-designed balanced budget and effective community engagement. Financial planning before the implementation of a population-based intervention will therefore include determining community assets. By understanding the community assets that will be available is therefore important so as to mobilize such assets in the implementation of a population health plan. The success of a population health intervention is therefore based on the assets and resources that will be at hand for certain stakeholders. Another important financial planning practice is to maintain population-based intervention initiatives after the end of funding. Collaborators and sponsors in the implementation of a population health initiative can experience a form of lack of funding constraints. A series of strategic plans and financial plans must therefore be readily available to sustain public health interventions (Sohn et al., 2020).
How does financial management play a role in the effectiveness and efficiency of population-based interventions?
Financial management plays a significant role in the efficiency and effectiveness of population-based interventions because financial management will determine whether different population interventions can be implemented and sustained for a certain time. Financial management, therefore, helps the different stakeholders in the implementation of public health interventions to determine the costs of implementation of different interventions and also determine the costs associated with running such programs until certain results are realized (Sohn et al., 2020).
Shrank, W. H., DeParle, N. A., Gottlieb, S., Jain, S. H., Orszag, P., Powers, B. W., & Wilensky, G. R. (2021). Health Costs And Financing: Challenges And Strategies For A New Administration. Health Affairs, 40(2), 235–242. https://doi.org/10.1377/hlthaff.2020.01560
Sohn, H., Tucker, A., Ferguson, O., Gomes, I., & Dowdy, D. (2020). Costing the implementation of public health interventions in resource-limited settings: a conceptual framework. Implementation Science, 15(1). https://doi.org/10.1186/s13012-020-01047-2