Healthcare Accreditation as a Tool for Financial and Risk Management Analysis

About Accreditation

Healthcare accreditation programs can be effective tools to help financial organizations assess and analyze financial and other types of risks in both clinical and non-clinical services (Ellis et al., 2020). With a comprehensive set of standards developed according to local, national, or international best practices and assessors to evaluate compliance with those standards, accreditation reports offer financial organizations insights into the overall health of the hospital or clinic seeking access to capital.

In general, “accreditation is concerned with the external assessment of organizations against designed, pre-approved standards”. There is a wide variety of accreditation programs available: mandatory or voluntary; local, national, or international; public or private; ISQua-EEA accredited or not (Ziemba, Accreditation, 2021). Accreditation programs are often built on the principles of Continuous Quality Improvement (CQI) and its management virtuous cycle of Plan-Do-Study-Act (Ziemba, Accreditation, 2021). This wide variety results in an equally wide range of standards being applied as part of the accreditation process.