Sunday, April 14, 2019
Health Care Financial Terms Week One Essay Example for Free
Health C atomic number 18 Financial Terms Week One testControlling is the practice that carriages use to ensure that the confederation plans and goals are being attained. By comparing storey to each other parts that are working and succeeding are defined and the areas where businesss are occurring can be addressed and corrected (Baker Baker, 2011).A manager has four different, lets say groups that report to this manager. Controlling would be when team A, B, C, and D submit the teams financial report to the manager. The manager would review all four teams to ensure the teams are meeting the financial goals. So, in this scenario Team A, B, and C is on target and meeting the goals. However, Team D has not met the goals.The manager needs to review the team Ds progress determine where the problem is, such as cutting cost, the resource allocation, operating procedure, or other issues. Without controlling the teams and reviewing progress, other area will suffer.Decision makingD ecision making is management making informed decisions based on all information that accomplishes the smart sets goals (Baker Baker, 2011).The company is making a decision on purchase electronic medical records. The financial reports will inform management of the financial status on the company and the amount of money they can budget for the purchase of this the EMR.OrganizingOrganizing is a term for companies to decide how to use resources for the surpass outcome for the company (Baker Baker, 2011).A manager is given a certain amount of revenue and the manager decides where the money is allocated for the department to accomplish the goals set by thecompany.PlanningTo succeed, companies need corporate goals. Planning is identifying the goals and resources. egg laying out the steps by using the resources to accomplish those goals (Baker Baker, 2011).A manager has a specific give to install and to perform the primary function of the project. The manager works out a step by step plan from the beginning to the end of implementing the project until the project is complete and accomplishes the goal.Original recordsWhen a act is recorded into a journal or ledger this becomes the original records (Baker Baker, 2011).A patient makes a stipend of $100. This payment is entered into the patients file and payment history. This entry is an original record in the companys income ledger.ReferenceBaker, J. J., Baker, R. W. (2011). Health Care Finance Basic Tools for Nonfinancial Managers (3rd ed.).Sudbury, MA Jones and Bartlett Publishers, LLC.