The challenges of health care accounting

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Healthcare being a fundamental requirement to humanity, has to be given more concern and be considered with due diligence to enhance efficient and effective provision. This application ranges from financial allocation, labor requirement and other resources that are incidental to it.

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Running head: HEALTH ACCOUNTINGThe challenges of health care accountingStudents NameInstitutional Affiliation1HEALTH ACCOUNTING2The Challenges of Healthcare Accounting: Is Software the Solution?Healthcare being a fundamental requirement to humanity, has to be given moreconcern and be considered with due diligence to enhance efficient and effective provision.This application ranges from financial allocation, labor requirement and other resources thatare incidental to it. All this, therefore, calls for adequate accountability in terms expenses,costs and income arising from provision of healthcare (Yong, Olsen & McGinnis, 2010).Healthcare has faced many challenges, which are incidental to the financialrequirement of the sector. These problems range from lack of funds, misappropriation ofcash, inadequate budgetary controls, and financial analysis. The current challenge being poorplanning and venturing in wrong projects that do not prove profitable to the healthcareorganizations. There has also been a problem of frauds by finance individuals and top-levelmanagement. These frauds make the organization fail to accomplish its plans. Hence, they arefaced with many challenges in health care provisions such as; buying medicines and hospitalequipment. They may also be unable to pay salaries, and other expenses that are incidental tohealthcare provision (Harper, 1992).Finance being a sensitive matter to an organization has to be addressed with muchcaution t
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