Day by day, it is becoming difficult for the hospitals to endure in the present atmosphere of healthcare because of matters that are financial. It is tough to discover the finance for funding the initiatives of care quality.
Most of the times, hospital management acts in response to the challenges that are related to finance including with the cuts that are immediate and swift such as staff cuts and operating cuts. But this leads to the different aspect.
Enactment of wide cuts in the operational and cuts staff impacts the descending related issues; for example, reduce in the morale of employee, enhanced over time, patients who are dissatisfied, etc. It is relevant to understand the role of financial management in the healthcare industry.
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