Discuss the role of financial management in the current system of health care, And how has it evolved over time

Answered: Discuss the role of financial…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Discuss the role of financial management in the current system of health care, And how has it evolved over time

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Step 1

Ans. Introduction

In any industry, financial management includes dealing with routine financial tasks, for example, arranging contracts, making cash accessible for costs like finance, and keeping a money pad for surprising expenses. At the organization's chief level, financial management implies giving different individuals from the administration group with data to make key arrangements to get ready for what's to come.

For example, health care suppliers, huge doctor practices and clinics, may choose to offer extended tests or therapies by purchasing new clinical hardware. Assisting with pursuing the choice and tracking down the most effective way to pay for it are both piece of financial management.