Financial Performance of Healthcare Organizations
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What might healthcare organizations learn from other industries to improve financial performance?
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Solution Summary
In about 300 words, this solution discusses the concept of healthcare organizations (HCO's) in terms of the role of these institutions and how they are beneficial institutions.
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Healthcare organizations (HCO's) already know the basics of maximizing revenue while minimizing expenses, to an extent. What they could really improve on is finding a way to keep staff motivated to do their jobs well, in order to both increase productivity and by extension, increase financial performance.
A ubiquitous issue in health care is the problem of burnout. Staff become overworked, their capacity for empathy decreases, they become increasingly irritable and ultimately patient care and ...
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