Your expertise in accounting and finance has landed you the position of chief financial officer (CFO) of ABC Hospital. ABC is currently experiencing a budget shortfall. Because it is losing money, it must reevaluate a commitment it made to add a new OB/GYN wing. This new wing could be a major source of revenue and could have a tremendous positive effect on the financial stability of the hospital.
How can you improve ABC Hospital's profitability so that it can add the OB/GYN wing and keep its commitment to the community?