Health care financial management is complex and an effective health care administrator must understand what makes up the foundation to financial operations. This includes: health insurance (private and social) and reimbursements, private vs. not-for profit entities, costs and expenditures, capital, materials management, and budgeting. Provide a substantive 150 to 250 word initial post that fully answers the following questions:
- Outline and discuss the major categories of reimbursements and costs in a health care organization. How do they influence each other?
- In addition, how do expenses and revenues affect the specific types of budgets outlined?