Determine how investing money will be returned

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Reference no: EM132103247

Question: Write your response on the following paragraph:

There was a 650 million dollar investment made by Northwest Medical Center in Margate, Florida. The facility is undergoing a tower expansion project that will take on 61 new patient beds to its fleet, along with 22 critical care unit beds, six neonatal intensive care unit beds, and 22 medical/surgical beds. To be effective, capital expenditure, planning and monitor require continual review. Meeting monthly or quarterly provides the opportunity to review and reset the capital budget, but also requires the discipline to pull the plug on poorly performing projects.

There are 5 metrics that are commonly used to measure performance of specific revenue cycle. Metrics play a major role not only in motivating staff to work better but also in communicating organizational goals and objectives. Recognize that metrics are used to provide the organizational goals to ensure that resources are aimed at the correct activities. For this capital investment; cost to collect would be a focus. Investing 650 million is a lot of money to invest so focusing on this particular metric will help determine how it will be returned.

Reference no: EM132103247

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