Week One Health Care Financial Terms Worksheet Essay
Week One Health Care Financial Terms Worksheet
Controlling for a financial manager in the health care industry is following through to ensure that the resources obtained are efficient towards the organizations objectives. The basis and reason for control is setting the policies and planning elements. The control function with management ties with the planning function because this consists of checking performances of employees for status of goals. Controlling in the health care for managers is checking and monitoring employee’s performances on a daily basis. This will ensure the planned performances reach with the goals of the organization. A financial manager takes control of employees. Employees will see this presence of control or authority and will work and perform well to reach the goals set for them and the organization.
A financial manager in the health care industry uses decision making to make informed choices. Managers rely on information from employees on a day to day basis. Management involves decision making at several levels of organization for getting things done by others To assist with decision making for management in a health care setting having meetings or huddles often with staff to gather ideas or information for improvements or adjustments in workflows. Doing this will establish relationships with employees and give them empowerment to succeed with goals.
Organization for the financial manager is critical with becoming successful. A financial manager uses organizing to divide work up into functions, delegating, assigning responsibilities and duties to employees. Consist organization by managers ensures the employees work effectively and efficiently. Mangers can use resources effectively through the organization and carrying out the goals. A scenario of organizing for a financial manager would be to establish good working relationships with employees. By establishing a relationship, this will show support to the employees and encourage them to work effectively and efficiently for the organization and reach goals. By establishing a good working relationship, this will engage employees with their job duties and goals causing them to strive positively in the working environment thus creating team work. Great teamwork within an organization will meet goals and objectives.
In the planning process, the financial manager identifies objectives for the organization’s success and utilizes plans to accomplish the objectives of the organization. Planning establishes standards for controlling, assists with decision making and is a primary role of management. A scenario in the planning process for a financial manager would be to use coordination, strategic planning, and communications among employees, which will support meeting the organizations goals.
Original records are part of the healthcare financial system. An original record provides support on an occurrence. The original record in the health care industry today is the Electronic Medical Record (EMR). Most health care records are now electronic. Physicians that treat patients the EMR have many benefits. The exchanges of information between physicians who share patients are faster. Other benefits are: reductions of duplications of tests, eliminating errors on prescriptions, and giving access to patients for their own records.
Chandra, D. (2013). The Five Functions of Management. Retrieved from