Explain why they are important in a healthcare organization

Assignment Help Financial Management

Reference no: EM133852448

Assignment: Healthcare Finance

As a healthcare manager, daily management tasks include financial management. Financial management includes items such as labor cost, equipment cost, and a budget that controls the operations. Proper operations requires planning and control. The budget is created using the basic financial information and accounting principles that an organization uses in its monthly, quarterly, and annual financial reports.

After learning the basics of financial statements, it is very important for a healthcare manager to understand the basic five areas of performance that set the financial plan for the organization. Define and provide an example of what the following mean:

1. Short-term solvency
2. Activity
3. Financial leverage
4. Profitability
5. Value

Define the following terms, and explain why they are important in a healthcare organization:

1. Current ratio
2. Total asset turnover
3. Debt ratio
4. Profit margins

Reference no: EM133852448

Questions Cloud

How to understand trumps post : How to understand Trumps post, what implications to the emerging and global FX markets and the international payment system

Describe how much weight a pregnant woman should gain : Describe how much weight a pregnant woman should gain, what the weight gain pattern should be and the dangers that a pregnant woman may face if her weight gain.

Diabetic with early stage alzheimer disease : Mr. Lam is an 87-year-old diabetic with early stage Alzheimer disease. Currently he is living alone in his home.

Admitted for hernia repair surgery : George, age 55, is a client at an ambulatory surgery center. George is blind. He is being admitted for a hernia repair surgery.

Explain why they are important in a healthcare organization : As a healthcare manager, daily management tasks include financial management. Explain why they are important in a healthcare organization.

What leadership qualities would advanced practitioner : What leadership qualities would a Advanced Practitioner Nurse apply to affect change in the practice?

Advanced practice nurse treat the whole patient : What is the role of the APRN in 21st century healthcare? How does the advanced practice nurse treat the whole patient and not just the disease?

Diagnosed with hypothyroidism : A patient has been diagnosed with hypothyroidism. They are looking at their lab report and see that their TSH lab value is higher than the reference range.

The client is on sodium restricted diet : The client is on sodium restricted diet and is limited to 1500 mg of sodium each day. A whole grain cracker has 0.14 gram of sodium.

User Account

All Pages