Financial Management for Health Care Administrators.Financial Management for Health Care Administrators. Familiarity with the language and concepts of financial management is essential for physician executives. This book aims at those working in health care administration who lack any background in finance and is intended to provide an introduction to the field. The first third of the book provides an explanation of the basic terminology The terminology used in the computer and telecommunications field adds tremendous confusion not only for the lay person, but for the technicians themselves. What many do not realize is that terms are made up by anybody and everybody in a nonchalant, casual manner without any regard or and ideas employed in finance and accounting. The function of financial management, budget preparation and forecasting, and fund accounting and formal definitions of terms such as "equity," "liability," and "asset" are covered. The next two chapters, which deal with revenue sources and working capital, further develop this material. The remainder of the book attempts to illustrate the application of this knowledge to the problems of setting rates, cost analysis, managing accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , and controlling inventory. Two appendices ap·pen·di·ces n. A plural of appendix. explore the use of time series analysis and linear programming to make volume projections. Unfortunately, a nearly impenetrable im·pen·e·tra·ble adj. 1. Impossible to penetrate or enter: an impenetrable fortress. 2. Impossible to understand; incomprehensible: impenetrable jargon. writing style and many typographical errors typographical error - (typo) An error while inputting text via keyboard, made despite the fact that the user knows exactly what to type in. This usually results from the operator's inexperience at keyboarding, rushing, not paying attention, or carelessness. Compare: mouso, thinko. severely limit the worth of this book. For example, one paragraph dealing with the aging of accounts receivable computes to a Gunning Fog Index In linguistics, the Gunning fog index is a test designed to measure the readability of a sample of English writing. The resulting number is an indication of the number of years of formal education that a person requires in order to easily understand the text on the first reading. of 23. In comparison, a typical life insurance policy produces a figure of only 13. Errors destroy the usefulness of the appendix appendix, small, worm-shaped blind tube, about 3 in. (7.6 cm) long and 1-4 in. to 1 in. (.64–2.54 cm) thick, projecting from the cecum (part of the large intestine) on the right side of the lower abdominal cavity. on linear programming. The key illustration contains an incorrect value for one of the coefficients. There is also a simple arithmetic mistake made and carried through the rest of the sample problem. Current computer spread sheets have the capability to perform linear optimizations. It would have been helpful to illustrate the solution using this method, which is available to many individuals. This is a reasonably concise treatment of vital subject matter, and the level of treatment is appropriate for the physician executive. However, dense prose and many misprints hurt the book. I look forward to a better-edited next edition.- |
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