WEEK 5 complete.docx - Managing finances of a hospital is quite a risky job as availability of funds in the institutions are must at any point of time

WEEK 5 complete.docx - Managing finances of a hospital is...

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Managing finances of a hospital is quite a risky job as availability of funds in the institutions are must at any point of time. Hospital is the place where most of the unexpected emergency condition comes up daily which need to be managed efficiently, and this could not be done with below scale financial condition. Like, on any normal day or in case of an emergency, hospital must have good quality medicine in stock, standard and modern machine and technology to examine the problem, enough number of helpers and nurses, hygiene, qualified doctors etc. To make sure that above mentioned demands are met timely, it is must for hospital institution to have knowledge about its financial constraint or information. This financial information is used for healthcare decision making by making availability of all things (need not to be of best quality but efficient) in advance be it medicine or doctors and also for providing a cushion for unexpected unforeseen cost that may occur in future.
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