HCS 385 Wk 5 Discussion Board

How will you, as a healthcare manager, be involved in long-term financing for your organization? Provide examples.

I will analyze the implementation strategies as well as look into how the investments may affect the future of the healthcare organization. In addition, I will determine how revenue will be collected for healthcare, the source of the revenue and overseeing the use of funds when It comes to purchasing equipment or the provision of healthcare services. For example, deciding on whether expanding an emergency room for profits will be a great investment. Reviewing contracts, evaluating compensation and budgeting in the organization and analyzing and reporting financial details will be my priority since it will ensure that in the long run the organization will have credible financial statements. It is through financial management that organizations are able to manage money and risks such that they are able to achieve financial goals.

Evaluating the overall operations of the organization for example through ensuring that there is adequate equipment and that staff are not overworked in their shifts will ensure that finances in the facility are not affected. For instance, if the organization operates all day and all night, then it is up to me to ensure that the practitioners have reasonable hours to avoid strikes. I will also be actively involved in management of the working capital of the organization and ensure that there is quality delivery of services without incurring more debts to the organization. By ensuring that the expenditures of the facility are within the budget, by actively negotiating contracts with suppliers and ensuring that the money gained by the organization caters for the expenses such as payroll, as a manager this will help me plan effectively.

REFERENCE

Pratt, J. (2010). Longterm care: Managing across the continuum. Jones & Bartelett Publishers.