Hospital Budgeting for Effective Performance Management
Hospital performance evaluation and reporting involve defining expected performance, monitoring in-process activities, and fostering effective communication.
Budgeting serves as a crucial tool, facilitating communication and coordination between departments. The master budget encompasses various plans, including revenue, production, distribution, and finance budgets, reflecting both financial and non-financial performance indicators. Monthly planning accounts for fluctuations in revenue, cash management, purchasing, and operational expenses.
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