What value does the budgeting process provide to today’s modern healthcare organ

User Generated

Freravgl08

Business Finance

Description

The budget has been called the hospital’s financial blueprint.  What value does the budgeting process provide to today’s modern healthcare organization?

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Budgeting helps hospitals accomplish many tasks. One important one is the level of staffing needed. Without estimates of how many people are coming for treatment and the potential reimbursement, a hospital could easily understaff and have to turn people away or have long lines, or over staff, creating an operating deficit. Budgeting also helps plan for future needs. Since construction and refurbishment takes time and a substantial amount of money, this must be planned in advance, and money must be funneled into the correct funds. 


Anonymous
This is great! Exactly what I wanted.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags