1. Name of the area.
General accounting/management and financial reporting.
2. How does this area impact financial information and decisions in the organization? How is the organizational structure effective for this function? Describe.
The financial department impacts financial information and decisions in the organization as they are responsible for doing the financial reporting for the entire hospital. The organizational structure is effective for this function as they generate various reports used throughout the hospital. This includes: monthly reports, reports for admissions or reports on what they do to the general public. The financial department also works closely with managers and directors to help answer any questions they may …show more content…
Who oversees the reporting? What levels of reporting and monitoring exist?
Every month they have a close meeting that involves members from leadership, accounting and finance. During the meeting they review monthly financial reports that include hospital volume, spent amount, revenue and accounts receivable. There are many levels of reporting and monitoring such as daily, weekly and monthly filing reports along with status reporting. They monitor these reports by working closely with manager to make sure the reports are easy to read and that they are understood. They also provide education and training.
6. What types of information systems are involved? Is any aspect out-sourced?
There are several types of information systems involved in the financial department. Some examples include: general ledger, cost accounting and patient detail systems. The financial manager did not state as to whether or not any aspects of the financial department are out-sourced.
7. What types of reports are created and used in this area? Who uses the reports? How are the reports used? Include attachments; refer to attachments as you …show more content…
She stated that if they could upgrade this software to a faster version it would be beneficial to their department as it helped to be more productive.
10. What quality, legal, or confidentiality issues exist?
There are several confidentiality issues that exist within this department as they have access to all the financial information throughout the organization. Therefore, they do see confidential material such as payroll, wage information and patient information. In order to protect this information all their office doors have locks and certain areas have badge access.
11. What is the impact of this area? How does this area recognize that it’s doing well or needs improvement? What tools and reports support your
General accounting/management and financial reporting.
2. How does this area impact financial information and decisions in the organization? How is the organizational structure effective for this function? Describe.
The financial department impacts financial information and decisions in the organization as they are responsible for doing the financial reporting for the entire hospital. The organizational structure is effective for this function as they generate various reports used throughout the hospital. This includes: monthly reports, reports for admissions or reports on what they do to the general public. The financial department also works closely with managers and directors to help answer any questions they may …show more content…
Who oversees the reporting? What levels of reporting and monitoring exist?
Every month they have a close meeting that involves members from leadership, accounting and finance. During the meeting they review monthly financial reports that include hospital volume, spent amount, revenue and accounts receivable. There are many levels of reporting and monitoring such as daily, weekly and monthly filing reports along with status reporting. They monitor these reports by working closely with manager to make sure the reports are easy to read and that they are understood. They also provide education and training.
6. What types of information systems are involved? Is any aspect out-sourced?
There are several types of information systems involved in the financial department. Some examples include: general ledger, cost accounting and patient detail systems. The financial manager did not state as to whether or not any aspects of the financial department are out-sourced.
7. What types of reports are created and used in this area? Who uses the reports? How are the reports used? Include attachments; refer to attachments as you …show more content…
She stated that if they could upgrade this software to a faster version it would be beneficial to their department as it helped to be more productive.
10. What quality, legal, or confidentiality issues exist?
There are several confidentiality issues that exist within this department as they have access to all the financial information throughout the organization. Therefore, they do see confidential material such as payroll, wage information and patient information. In order to protect this information all their office doors have locks and certain areas have badge access.
11. What is the impact of this area? How does this area recognize that it’s doing well or needs improvement? What tools and reports support your