It needs to be said that the health care system in UAE has been developing at an incredibly fast rate over the last few years, but it is necessary to address the issue of cost accounting. The main problem is that the overall cost of provision of such services is incredibly high, and complications that are related to sustainability are likely to occur at some point in the future (Grant Thornton UAE, n.d.). Another significant issue that needs to be discussed is that other countries have already developed the systems that help to provide populations with health care services of high quality and a relatively low cost. The average cost of procedures is higher in UAE than it should be, and it hinders the overall development of the country. Current insurance policies also need to be addressed because it is frequently abused by companies that operate in this sector (Doran, 2013). It is imperative to say that the current system is already extremely well-developed but is it quite evident that it requires further improvement. It needs to be said that it is necessary to use modern technologies such as computer programs to meet the current standards. Some investment opportunities are also available and should be mentioned. The population grows at an exponential rate, and it is not expected to slow down anytime soon. Currently, this sector is extremely dependent on imported medicines and equipment, and this should be viewed as a critical issue by the government. The demand for health care services also grows, and it is necessary to make sure the expectations of consumers are met. The fact that the number of expatriates in the region is much higher than the number of natives also needs to be considered, and the fact that their preferences are different should not be disregarded.
It is paramount to note that both external and internal factors have an enormous impact on the financial viability of organizations that are focused on the provision of health care services. One of the most significant ones that should not be disregarded is that it is important to have access to necessary funds to be financially stable. The economic situation in the country is also quite important because any complications that occur may cause insurance companies to review their policies. A developed health care infrastructure is also essential in most cases. Organizational performance is of utmost importance because it affects the ability of health care organizations to provide necessary services. Financial indicators such as operating margin, current ratio, debt to equity, debt per capita, earnings per client, and revenues per capita also should be considered (Suarez, Lesneski, & Denison, 2011). The role of suppliers of resources such as employees, service contractors, and lenders is vital. It is paramount to understand that the biggest amounts of funds are received mostly not from patients themselves, but third parties. Financing by foundations and contributions is also essential and is perceived as a significant percentage of total available funds.
In conclusion, it needs to be said that the health care system in the UAE is one of the most advanced ones, but aspects that are related to cost accounting should be addressed because several issues are currently present. It is paramount to understand that all health care organizations should be viewed as businesses, and it is important to take necessary measures to make sure that operations are efficient.
References
Doran, J. (2013). UAE healthcare system deserves better from its insurers. Web.
Grant Thornton UAE. (n.d.). High cost of healthcare leading to competitive disadvantages in UAE, says Grant Thornton. Web.
Suarez, V., Lesneski, C., & Denison, D. (2011). Making the Case for Using Financial Indicators in Local Public Health Agencies. Am J Public Health, 101(3), 419-425.