Managers within health care organizations are often presented many challenging tasks. Those who oversee departments within such organizations are responsible for salaries, supplies, and acquiring space. Managers ensure that funds are in place to cover these expenses and should be skilled in maintaining their service line’s budget. Knowing where, how, and when to cut costs is critical.
You are the manager of the pediatric unit at Eastbay Hospital. The chief financial officer has presented the following questions to you. Please provide your response:
Why is it important for managers to know how to obtain capital?
Provide and describe a method that can be used to acquire funding.