Hcs 577 Comparative Summary
Comparative Summary Paper
HCS/577
September 22, 2014
Comparative Summary Paper
The financial environment of any organization is a major factor and plays a significant role in how the organization functions and operates. The financial environment can display whether an organization is financially successful or struggling because of money issues. Just like families that typically stay on top of their financial budgets systems, organizations whether for-profit, non-profit or government ran, each organization is responsible for maintaining and accounting for revenue in and revenue out. In the healthcare industry, organizations have suppliers, and work with other companies that supplies the company with resources and equipment that hospital/clinic staff is able to use. It is important to note that these exchanges do not occur for free. There is a financial element of the process that has to take place and must be accounted for. Many environments such as non-profit, for profit, and government healthcare financial environments would not survive without some kind of financial structure set in place. This document will attempt to discuss these environments with respect to each having a financial structure, unique policies within that environment, …show more content…
Where many other industries have separate financial departments which performs all financial operations, effective financial management in health care at some point becomes the role of many health care managers who must be able to account for the financial management of their units (Finkler, 2006). The finance position in health care involves providing financial analyses to improve decisions that affect the wealth of the organization (Finkler,
HCS/577
September 22, 2014
Comparative Summary Paper
The financial environment of any organization is a major factor and plays a significant role in how the organization functions and operates. The financial environment can display whether an organization is financially successful or struggling because of money issues. Just like families that typically stay on top of their financial budgets systems, organizations whether for-profit, non-profit or government ran, each organization is responsible for maintaining and accounting for revenue in and revenue out. In the healthcare industry, organizations have suppliers, and work with other companies that supplies the company with resources and equipment that hospital/clinic staff is able to use. It is important to note that these exchanges do not occur for free. There is a financial element of the process that has to take place and must be accounted for. Many environments such as non-profit, for profit, and government healthcare financial environments would not survive without some kind of financial structure set in place. This document will attempt to discuss these environments with respect to each having a financial structure, unique policies within that environment, …show more content…
Where many other industries have separate financial departments which performs all financial operations, effective financial management in health care at some point becomes the role of many health care managers who must be able to account for the financial management of their units (Finkler, 2006). The finance position in health care involves providing financial analyses to improve decisions that affect the wealth of the organization (Finkler,