Project Fiscal Management in Healthcare Service
You are a staff member in the finance department at Nouveau Health, whose sole responsibility is to advance the success of the organization through assisting in planning, forecasting, and finance management.
Complete the following:
Prepare next year’s financial plan and operational budget.
Note: Use the budget you from Unit 1; it did not take into account the growth of the new facility. The CEO has asked that you expand that budget and provide a finalized budget that will take into account the new services offered. The CEO has stated that there is $3 million that you can incorporate in to the budget for additional staffing, services, maintenance, and so forth.
Sample Solution
Healthcare boards are mandated to ensuring that management teams and finance teams run efficiently while pursuing goals that lead to profitability. In order for healthcare organizations to succeed and provide quality healthcare for all their patients, they must have financial management plans and systems that are strong and efficient. Senior executives rely on finance professionals to give them accounting and other financial information to help them make wise decisions and monitor internal and external spending. Health care finance managers play a primary role in developing and implementing strategies to help health care providers generate enough revenue to pay for expenses and plan for future development.
