Introduction to Hospital Finance

Hospital finance encompasses the management of financial resources in healthcare institutions. It involves budgeting, accounting, and financial reporting, which are essential for maintaining operational efficiency. Understanding these concepts is vital for healthcare administrators and finance professionals.

Key Components

• Budgeting: Creating a financial plan that outlines expected revenues and expenses.
• Revenue Cycle Management: Ensuring that the hospital collects payments for services rendered.
• Financial Reporting: Providing stakeholders with accurate financial statements.

Effective hospital finance management leads to improved patient care and operational success.