The demand for healthcare administrators has gone up substantially over recent decades, as has the salary range for the position. The job of managing healthcare facilities has become more challenging and more important than ever before. How would you describe the dual purpose of financial management in health care today?
An essential aspect of healthcare financial management for any medical facility is the year-end closing. What are the primary accounts that must be addressed in the year-end closing process? List these accounts, and briefly describe the procedure for each.
What is meant by a pro forma financial statement? How are pro forma financial statements utilized in determining whether a major proposed project for the healthcare organization should be approved or not? Provide at least two examples of healthcare projects that should be analyzed by pro forma statement before making a go or no-go decision.
Consider the big picture of our American economy with health care being an important part of it. How does the large share of American gross domestic product (GDP) that we spend on health care each year impact our nation’s economy overall? What other areas of our economy may currently be suffering because of so much medical spending? In your view, can America continue to spend this much money on health care without sacrificing the quality of American life in other areas? Why or why not? Please support your position.