The budgetary obligations of healthcare organizations are many and
different. With improvement in data technology and the highest priority in
safety, maximizing patient care quality, there are steady improvements that
are important to be taken to maintain a healthcare trend that is everchanging.
A capital budget needs to be monitored closely by healthcare organizations.
Maintaining a comprehensive understanding of the entire facility by
healthcare organizations requires development and effective long-term
capital plan through determining improvements required, prioritizing those
improvements to align them with the organization's goals, and lastly,
ensuring that money is spent as planned. (Dufresne, p.38). For organizations
to be successful, they are required to be highly strategic. Organizations need
to establish financial performance parameters, use capital and balance
sources and assess how financial positions will be affected by critical
assumptions to provide more outstanding value care. (Hedges, 2016).
References:
Dufresne, R. (2009). Best practices in healthcare facilities capital planning.
Healthcare Design, 6(9), 36-40.
Hedges, C. (2014). how Hospitals Should Approach Financial planning in
Changing times, Trustee Archives. Retrieved from
https://www.trusteemag.com/articles/772-how-hospitals-should approach
financial planning in changing times
Abualoush, S., Masa'deh, R., Bataineh, K., & Alrowwad, A. (2018). The
role of knowledge management process and intellectual capital as
intermediary variables between knowledge management infrastructure and
organization performance. Interdisciplinary Journal of Information,
Knowledge, and Management, 13, 279-309.
