1.The Institute of Medicine suggests that every healthcare organization should focus on providing care that is safe, effective, patient-centered, timely, efficient, and equitable. Discuss methods in which these values may be incorporated into the budget strategizing process.
The values of safe, effective, patient-centered, timely, efficient, and equitable care should be incorporated into the organization’s mission. The mission forms the base for the formulation of strategic plans, strategic goals, and objectives. These components of strategic management then form the basis for the formulation of financial plans. In effect, therefore, incorporation of these values into a health care organization’s mission ...