Hospital Financial Management Essay Example | Topics and Well Written Essays - 250 words

Hospital Financial Management - Essay precedentBy developing fixed and variable expenses PPD strategies they find it efficient in paying long-term expenses without racecourse out of all the operational cash. During their 1st Qrt, they expected a fixed cost structure of 20% which in actual budget shifted to 19% making a closure value of 1. The same musical mode by budgeting for variable cost structure of 80% and gaining an actual of 81% giving them a point value of 1, it means that the operation of the hospital is very strategically planned. The other reason for the better fiscal performance of the hospital is because of the better turn out of patients both in and outpatient, the benefits are given to them and the go performed. Despite good profit generation from the hospital, it is still advisable that they develop the good strategy establish on the indicators shown by the office of the statewide health planning development (OSHPD). The indicators require the hospital financial instruction to develop corrective measures such as volunteer time so that the salaries benefit lavatory be reduced by at least 10%, the need also to give professed(prenominal) training to lower the professional fee they provide for. The hospital management should be determined in developing ways of reducing their supplies from 15% to some reasonable percentage. The main issue the hospital management should focus on to help their performance is the salaries, variable patients benefit, and the supplies they receive. They should develop strategies that enable them to reduce the cost of professionals pays.