How can financial leadership bridge the issues of financial risk and clinical risk within healthcare organizations?
Most clinical staff members do not understand financial risk beyond the clinical risks that might cost money for the organization, but there are considerable risks in managing the finances of an organization. Most financial managers do not understand the financial requirements to avoid clinical risk.
One of the main problems, and one which is hinted towards in the question presented is that in most ways clinical risk and financial risk are two worlds apart from each other. However, they must be brought together in a workable way due to the inherent risks that are present both with clinical risks and financial risks. As pointed out above, most clinical staff members do not understand financial risk beyond the scope of clinical risk because most clinicians are not prepared for the complex information involved in the financial risks, or any financial aspects, of the healthcare organization.
The healthcare organization is very unique in this area. In almost any given industry, we can easily form a bridge between financial risk and industry risk. In businesses that offer any type of sales, in manufacturing operations, service industries including accounting professions, and virtually any ...
The solution provides a detailed discussion examining how financial leadership can bridge the issues of financial risk and clinical risk within healthcare organizations, and also thoroughly explains ways to avoid clinical risk from the perspective of the financial manager. This solution is written based on 25+ years of professional experience in the business industry.