Question

Describe factors that influence the financial viability of a healthcare organization

Answer 1

Here are the factors that can influence the financial viability of a healthcare organization.

•             Allocation

•             Efficiency in operations

•             Planning and budgeting

•             Optimization of the sources

The principal factor to influence the financial viability is the allocation, collection and proper distribution of the overhead expenses of the operations. These expenses are settled in nature, so it ought to be spread carefully to recuperate it from the distinctive parties who are getting administrations from the health care organization. Without doing along these lines, overhead cost will be gathered and it will end up being a financial weight of the health care organization.

Efficiency in operations is the second factor. It lessens the wastage and upgrades the profitability. In this way, it influences with two crease advantage upon the financials of the health care organization. In this way, maintaining an abnormal state of efficiency is the key.

The Third factor is planning and budgeting as it encourages health care organization to work with the feeling of direness and health care organization can accomplish the incomes it needs to produce to meet the costs. Not doing in this way, may put the health care organization's presence in risk.

The Fourth factor is the optimization of the sources of installments health care organization is receiving. A most expected acknowledgment of the funding coming from the diverse sources will enable the health to care organization to get ready for the difficulties in predictable time and plan accordingly. The nature of the administrations will likewise help in building prevalence of the health care organization. It will help in getting returning patients.