Question

In: Finance

You are the manager in a health care organization, and you have been directed to come up with a plan to cut your budget by 5%

HEALTHCARE FINANCES

You are the manager in a health care organization, and you have been directed to come up with a plan to cut your budget by 5%. Discuss the following:

  • What expenses will you cut? Justify the cuts you choose.

  • Describe how these cuts will affect patient-centered care.

    • Include both positive and negative effects.

Solutions

Expert Solution

I would start cutting the discretionary expenditures, which will cause minimal disruption to the ongoing business like

1) Reduce travel cost

2) Identify spends that do not have a good return and eliminate them

3) Outsource non-core services for better cost control

These cuts are aimed to minimally disrupt patient care, as executive travel cost and staying at 5 star hotels does not effect our core operations

The only cost cutting measure that can affect our core operations is the outsourcing, which is we manage personally by keeping a close eye, we can reduce the quality errors significantly

jeff jeffy answered 2 years ago
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