Financial Management in Healthcare
Discuss the pros and cons of reporting contractual adjustments directly on the monthly financial reports at the department level. As a healthcare administrator, how would you address this in your own organization?
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It is highly important to report any contractual changes to the department, not only monthly but as soon as it happens. In doing so, it will keep everyone that works in the department privy to the information and no one is feeling left out. Some of the people that are in the meeting will not need to have the information but it is always better to have and not need than to need and not have. This style of information can be contagious and when one of the subordinates reaches the supervisor or manager level, sharing information and keeping the subordinates informed is a trait that is missing in the working environment. A con to having this information every month and briefing the department heads is that those in attendance will get bored, especially if it is verbiage or even as simple as a time change in delivering. Overall, the information concerning any contractual agreement is highly important.