Comparitive Summary

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you identity. Unique policies are policies that no one would ever think of getting due to the fact that they have never been heard of or just don’t want to consider getting these types of insurance although some of the unique insurances would or may be worth getting especially the pet insurance and the identity theft insurance because it would save a person a lot of money if something would happen to their pet or if they have their identity stolen (Fabulously Broke, 2011).

Financial Management

Financial management can be more difficult in health care than in any other industry because, financial management handles all the financial operations such as negotiating contracts, making cash available for expenses such as payroll, and maintaining a cash cushion for unexpected costs that may arise with in an organization so therefore, the financial management will need to watch what they are doing so they can make sure they have enough cash on hand for the finances of the organization. Financial management must also provide information to other members (Brumley, 2015).

The financial management is also responsible for many providers who are organized such as not for profit, they will also need to know what the method of payments are and they will need to do research that will focus on cost containment in the health care. The financial management will also need to know how to handle cost containment, how they are adopted, and how it will affect services and outcomes of the organization (Jumat, 2010).

With financial management they will need to make sure that they let other staff members have an understanding of their responsibilities and what goes on within the organization so that they are able to keep the organization functioning properly without any issues.

Financial Management Practices Prevalent in the Financial Environment

All organizations have rules and regulations that needs to be followed so that they can make sure that they understand the safety of the patients and so that the organization will be able to handle patient care requirements. If the organization does not follow all the rules and regulations then the organization is risking the health of everyone and all the patients. Although if they find delinquency in the organization then they could lose their Medicare benefits which also means causing the organization to close its doors without knowing because, if they lose their Medicare benefits they may not have has many patient’s so this will cause them to have to close down.

This paper is discussing the policies of unique financial environment and how financial management policies are unique. It is also discussing how an organization must follow rules and regulations and if the organization does not follow the rules and regulations they might lose patients due to losing their Medicare benefits. This paper also discusses the role of the financial management. This paper also discusses different types of unique health insurance.

References

J. (2012, February) Financial Management of Healthcare Organizations Retrieved from http://moshtok.blogspot.com/2012/02/financial-management-of-healthcare.html

Advameg, Inc. (2015) Financial Statements Retrieved from:

http://www.referenceforbusiness.com/encyclopedia/Fa-For/Financial-Statements.html

QuickMBA (copyright, 1999-2010) The Four Financial Statements Retrieved from:

http://www.quickmba.com/accounting/fin/statements/

Brumley, S. (copyright 2015). Role of Financial Management in Healthcare Retrieved from http://smallbusiness.chron.com/role-financial-management-healthcare-76263.html

Newmarker, C. (2012, February 2). Mayo Clinic to Spend $3.5 Billion on Capital Projects. Retrieved from http://finance-commerce.com/2012/02/mayo-clinic-to-spend-billions-on-capital-projects/

Fabulously Broke (2011, March) Unique Insurance Policies You Should Consider Retrieved from http://marketrelist.com/2014/11/understanding-structure-us-hospital-industry/

Wachins, V., Schneider, A., & Rousseau, D. (2004, January) Financing the Medicare Program: The Many Roles of Federal and State Matching Funds Retrieved from http://kaiserfamilyfoundation.files.wordpress.com/2013/01/financing-the-medical-program-the-many-roles-of-federal-and-state-matching-funds-policy-brief.pdf