Financial management of a HCO
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For many health care organizations maximization of profit may not be a goal at all, although at least some profit is necessary to ensure the financial well-being of even these organizations. What are two overriding goals of financial management?
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Solution Summary
Health care organization do not put profitability as their goal, but even these organization must generate some sort of profit in order to achieve other goals. (1) Health care organization need profits so that they can expand other services and offer a wider access to health care. They need to earn profits on patients so that they can cover the costs for their high-quality services.
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Overriding Goals
For many health care organizations maximization of profit may not be a goal at all, although at least some profit is necessary to ensure the financial well-being of even these organizations. What are two overriding goals of financial management?
The two overriding goals of financial management are profitability and viability. (1)
Health care organization do not put profitability as their goal, but even these organization must generate some sort of profit in order to achieve other goals. (1) Health care organization need profits so that they can ...
Purchase this Solution
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