Description
One of the decisions that a healthcare finance manager has to make is whether to allow budgets to change over the course of a reporting period. A budget that never changes is called static, while a budget that changes based on actual activity is called flexible. Both approaches offer advantages and disadvantages for the healthcare organization.
Refer to the attached lecture titled "Static and Flexible Budgets, An Example". In the example of the walk-in clinic, if you had the option of retaining the nurse practitioner on a salary, what salary would you offer? Why?
At least 150 words- Include references
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Explanation & Answer
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SALARY FIXATION
If I had the option to retain the nurse practitioner on a salary, I would offer a salary of
$15,000. Salary fixation is a finance managerial decision that I would have arrived at after
considering a number of ...