Assignment task:
You, as the chief financial officer (CFO), decided that any meaningful improvement must begin with an in-service handbook titled Strategic Financial Management Positioning Report, Part I - Challenges and Concerns to help staff understand some preliminary critical financial management principles and concepts and the nature of challenges facing hospitals that warrants strategic repositioning. The report should address the following:
1. Current issues or challenges confronting hospitals today
2. Role of financial management decision making in the health services sector and how this role has changed over the years
3. How financial management decisions affect the planning and operations of healthcare delivery services
4. Where vision and mission statements fall with regard to financial management
5. Financial goals for a typical hospital that maximize shareholder wealth and retain the financial viability of the hospital and the considerations for composing these financial goals
6. Identifying functional areas or responsibility centers in the hospital