Question

Topic: Setting the financial budget guidelines/Budgeting

In 150-200 words please review the following topic and tell why it is or is not important in healthcare today. You may type directly into the dialogue box.

Answer 1

Fighting financial budgeting is also important for the healthcare sector because healthcare industries also looking for survival in adverse economic scenario and financial budgeting will be providing it with an additional esge of management of its finances proactively because healthcare industry are also associated with a large number of expenditure and income and they should always manage their expenditure and income in advance in order to gain from any kind of favourable situations in the economy

it is always beneficial to make a budget because budgeting will be providing them with proper estimation of the expenditure and the income associated with the business and they will be also trying to estimate it in the longer period because It is also associated with forecasting of their expenditure and income so it will be helping them with an additional facility of managing of their finances in a better manner and provide them with more financial flexibility to deal with adverse economic situations.

Hence I believe that application of the budgetary framework is important in the healthcare sector also because ultimately it will have to make profits in order to sustain and survive even though it is touted as a social sector but the management of its finances will make it more competitive and gain more market share in the long run so it will be helping in development of its strength and formulating of more of the organisational value due to better management of the budgetary framework.