Healthcare Budgets and Management Structure
Create a 400-600 words that respond to the following questions with your thoughts, ideas, and comments. You must Be substantive and clear, and use examples to reinforce your ideas.
It has been brought to the attention of Krona's executive management team that the department managers have not been held accountable for their individual department's budget, which has contributed to increased costs and reduced profits. You need to complete the following:
o Explain the steps of the budget-building process.
o Define flexible and static budgets.
o Describe the budget cycle, the decision problems, and the decision rules that may affect the relationships between the department and total facility.
• Objectives:
o Understand health care financial statements
o Comprehend the principles of health care accounting.
o Apply cost information