anticipating of future unforeseen-able changes as well as for
improvement in IT, financial managers manage their budget according to
the effective set up of separate line items. They estimate that amount
of capital that is used for improvements in their future information
technology. While managing budget they keep a part of their budget as a
reference to be used for future advancement and up gradation of all
applications, programs as well as system within a medical organization.
As, this is the era of ever advancement of information technology
sector, so there are many changes involved in this sector. A medical
organization that is equipped with new and advanced computers would
provide effective outcomes. In this regards, a hefty amount from budget
of the organization is kept separate and that is utilized in the
up-gradation of systems etc. Due to increasing changes in IT sector many
of the hospitals need to revised their software systems after every 2
to 3 years. It is also responsibility of the financial managers that
before applying these systems or software within medical organization,
it should calculate their future costs and benefits from financial point
of view. The adoption of ICD-10 in health care field is the latest
change that is introduced in IT sector of organization. This systems
enables improvement in the management of diseases, ensure less improper
claims or rejected claims, and more authentic information regarding
payment of new procedures.
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