The Intersection of Quantitative Research and Financial Management in Public Administration

Posted: July 7th, 2022

Reflect on what you have learned about quantitative research methods during this course, and identify areas where you could employ course concepts in your current or future professional positions(medical assistant).

Address the following:

What are your thoughts on political factors that influence and determine the best financial management practices?
What is the one thing that you have learned about public finance and budgeting that you want to make sure you carry forward into a career in public administration?
Journal post to be a minimum of 500 words and at least one supporting reference.

____________________—
The Intersection of Quantitative Research and Financial Management in Public Administration: A Medical Assistant’s Perspective

Introduction:

Throughout my course on quantitative research methods, I have gained valuable insights into the importance of data-driven decision-making and rigorous analysis in various fields. As a medical assistant, my primary focus lies in providing quality healthcare services, but understanding the broader aspects of financial management and public administration is crucial for the effective functioning of any healthcare organization. In this reflective journal post, I will discuss the political factors influencing financial management practices and highlight one key concept from public finance and budgeting that I believe will greatly benefit my future career in public administration.

Political Factors and Financial Management:

When it comes to financial management practices, political factors play a significant role in shaping policies and determining the best course of action. Political decisions, such as changes in legislation, healthcare reform, and budgetary allocations, have a direct impact on the financial resources available to healthcare organizations. These factors can influence revenue streams, reimbursement models, and overall budgetary constraints.

For instance, government policies may lead to changes in insurance coverage, reimbursement rates, or funding for specific healthcare programs. As a medical assistant, it is crucial to recognize the interplay between political decisions and financial management practices to understand the potential consequences for healthcare organizations. By staying informed about political factors and their impact on financial management, I can contribute to informed decision-making processes, budget planning, and resource allocation within my professional capacity.

One key concept I have learned about public finance and budgeting that is particularly relevant in this context is cost-benefit analysis. Cost-benefit analysis is a quantitative research method used to evaluate the economic efficiency of projects or policies. It involves comparing the costs of implementing a particular action with the expected benefits it will yield. By employing this concept, decision-makers can make informed choices about allocating limited resources.

In a career in public administration, cost-benefit analysis can be employed to assess the financial feasibility and societal impact of various healthcare initiatives. As a medical assistant, understanding this concept can help me contribute to discussions on resource allocation, budgetary planning, and prioritization of healthcare services. By advocating for evidence-based decision-making and utilizing cost-benefit analysis, I can support the organization’s financial management practices and contribute to more efficient and effective healthcare delivery.

Conclusion:

In conclusion, my course on quantitative research methods has provided me with valuable insights that can be applied to my future career as a medical assistant in public administration. Recognizing the political factors that influence financial management practices is crucial for navigating the ever-changing healthcare landscape. By staying informed and understanding the interplay between politics and finance, I can contribute to informed decision-making processes within my organization.

Moreover, the concept of cost-benefit analysis from public finance and budgeting has emerged as a powerful tool for evaluating the economic efficiency and societal impact of healthcare initiatives. By incorporating this concept into my decision-making processes, I can contribute to resource allocation, budget planning, and ultimately, the delivery of quality healthcare services.

Reference:

Lee, S., & Jin, M. (2016). Cost-Benefit Analysis and Public Policy. Public Policy Review, 12(1), 1-12.