Mission And Value Of A Healthcare Organization

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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…show more content…
Sequentially, it can take capital resources to correct the budget failure. The Healthcare Organization (HCO) often responds responsibly with a 90-day plan to return to achieved goal. Now it is understood what the CEO and budget office objectives are for the HCO. Consequently, there are many requests that may appear top priority to a conglomerate of HCO physicians and staff. However, it is evident if a request for purchase is outside of the budget, the finance committee will convene to discuss the proposed purchase. The HCO requires intuitiveness, prudence, and wisdom decipher needs vs. wants. For example, new technology provides better access to patients and quality improvement. So, it is best to purchase technological equipment if it is out date to improve efficiency. On the other hand, it would not be prudent to purchase equipment that is for leisure or personal use. Therefore, it is impractical for HCO staff to request a refrigerator for personal use. The financial budget is allocated to cover needs based equipment to improve HCO efficacy and competency, However, if the staff provides documentation that the refrigerator improves workflow, then it may be approved for purchase. In a recent conversation with Jake Edward Smallville an engineer and business owner, he confirmed the process to purchase new department equipment. Mr.
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