The Importance of Financial Literacy to Non-Finance Managers of Healthcare Institutes in Malaysia

Financial literacy among non-finance managers is crucial for the operational success and sustainability of healthcare institutes. This research explores the significance of financial literacy for non-finance managers at various hospitals in Klang Valley, emphasizing its impact on informed decision-making and efficient resource management. The study investigates the current financial literacy levels among non-finance managers, identifies gaps and proposes strategies to enhance their financial competencies. Using a comprehensive approach, including situational analysis and empirical data collection, the research aims to demonstrate how improved financial literacy can lead to better financial management, ultimately contributing to the hospital's competitive edge and long-term viability. This study’s data were based on the questionnaires adapted from several previous studies, including Bongomin et al. (2018) and Al-Rahhaleh et al. (2023). The findings suggest that enhancing financial literacy among non-finance managers is essential for achieving financial stability and effective healthcare service delivery, thereby underscoring the need for targeted financial training programs in the healthcare sector.