Question

Health care administrator in an assisted living facility and their role related to financial management healthcare value.

What financial functions are carried out by the administrator?

What kind of training does the administrator need in order to perform these functions?

Is the administrator involved in the relationship between budget requirements and ensuring high performance outcomes for the department? What is negative and positive relationships.

What is the most challenging aspect of the position, and where does financial management fit on that list?

What is the most rewarding aspect of the position, and where does financial management fit on that list?

What strategies can be used to address waste, lean, inventory, revenue cycles, etc.?

Answer 1

1.

The role of the financial administrator is to Proctor on the effective and efficient process are conducting in the organization to sustain the business towards goal making, developing business plans and achieving long-term objectives.

2.

The administrator is required to take part in the organizational quality and improvement program which is highly required functioning all the above activities and perform well while maintaining the process.

3.

Yes, it is required to involve. The negative aspect is that if the administrator lagging in the analysis process of deciding the requirements in the budget then the negative effect may cause the performance down. But, if the analysis and research works are done perfectly then the impact of deciding the budget will be positive and performance will also be good.  

4.

The position in the management is the challenging aspect as it includes the organization to showcase the work path of the organization to sustain the growth. A position is not only heading a post many other factors, responsibilities, duties and work process are also required to be formulated in the management to make the function of the working portfolio at its standard.

5.

The rewarding of the position is the achievement in the organization, it basically happens when the position holder hits the target with effective force and brings an over the positive outcome. The growth touches the sky limit in the organization then a reward is made to the team or the person conducting the business to bring it to the standard.

  

6.

To address all the points it is required to furnish the effective strategies for the growth in this sector.

The strategies are:

1. Effective business plans

2. Market analysis and projection of the products in the market

3. Marketing techniques through various channels needs to be formulated

4. New implementation in the inventory process is required to be structured

5. Focus on SWOT analysis before coming up to the market to avoid any waste or wrong decision-making process

6. All process of revenue generation is required to be followed and a break-even analysis is required to be conducted to control the expenditure and revenue generation.