Mission And Value Of A Healthcare Organization

1239 Words Aug 10th, 2016 5 Pages
The Chief Executive Officer (CEO) is the senior leader that promotes the mission and value of a HealthCare Organization (HCO). Then, when it comes to the finance budget, the budget office “coordinates the budget development and accounting reports, working closely with internal consulting and managing the extensive flows of information necessary to support the negotiations” (White and Griffith 423). The CEO recognizes that to develop a Long Term Financial Plan (LTFP) it takes several months involving everyone in the HCO. The objective is to find the best option for an Opportunity for Improvement (OFI) and Performance Improvement Teams (PIT) to thrive for excellence. The budget goals are determined by capital requests that are separate from operating goals. The budget process establishes the financing transaction and operational plan for the fiscal year up to at least 18 months. Moreover, it is not uncommon for well-run organizations to budget multi-year improvement goals (two-three years). After, the budget is monitored by an operations manager and overseen by the budget office. Over time, the budget is subject to continuous improvement. According to Kenneth White and John Griffith, “an organization that is having difficulty establishing or meeting its budget, must limit its attention to elementary concepts, concentrating on getting guidelines, forecasts, and improvement processes developed and accepted” (430). Therefore, if there is failure…
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