Financial Management for Hospital Administration

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The emphasis is on management rather than on accounting, applications rather than on theory. With management support, cooperation from operating personnel and some additional inputs, the book will enable thehospital authorities to:1.Prepare a plan of action for immediate future period in quantitative and financial terms, with departmental managers, they contribute to this exercise, by making their own projections regarding activity levels, resource requirements, income and costs. 2.Understand financial implications of their decisions and actions on costs and revenues.3.Establish costs for various services rendered by the hospital and derive unit rates which are equitable, rational, cost based and easily understood by the patients.4.Design a management information reporting system which enables management at various levels to learn about their current performance. Its comparison with what was planned in an analytical manner facilitates corrective action. 5.Institute a system of investment appraisal. One needs to be careful that these measures do not result in unmanageable strain on its financial, managerial and manpower resources.6.Ensure proper management of capital as well as working capital funds.Though strictly not a part of the subject Managerial Accounting, the book will also help:1.Understanding of accounting controls to ensure proper safeguard of the assets owned by the hospital; and expenditure is incurred genuinely for running the hospital and income that is generated is promptly and correctly brought into accounting books. 2.Suggest cost-effective computerization of accounting records to provide better service to patients; reduce clerical effort, and generate manageýment information avoiding usual but avoidable pitfalls.3.Provide a chart of accounts to facilitate a meaningful analysis of costs and income for better control and facilitate inter-hospital comparisons.