Week 1 Discussion 1.docx - Leaders of healthcare...

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Leaders of healthcare organizations must have a foundational knowledge of key financial concepts and techniques, as well as how these principles are influenced by the unique characteristics of the healthcare industry. Assess how healthcare financial management can help healthcare organizations stay viable in the long run.Hello Professor and Class,According to Berger (2008), financial management has a primary and secondary role in the financial health of the health organization. Its secondary purpose is reporting financial results periodically, usually monthly. Its central position, however, is as a broker of information. Therefore, financial management in healthcare involves a list of duties far higher than in many other industries. So, not only is it essential to have a competent staff knowledgeable in the day today operations of the facility but also one that is in touch with financial trends within the industry. Adequate care can be achieved by analyzing the costs and benefits of medical procedures and technologies. Moreover, healthcare providers, such as large physician practices

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