What is one key role of the finance function in healthcare organizations?

One key role of the finance function in healthcare organizations is measuring operating and financial results. This aspect is crucial because it allows organizations to assess their financial health and operational efficiency, enabling informed decision-making. By tracking revenue, expenses, cash flow, and various performance metrics, the finance team can provide insights into how well the organization is performing. This is essential for identifying areas needing improvement, ensuring proper resource allocation, and ultimately supporting the organization's overall mission to provide quality care while maintaining financial viability.

Effective measurement of financial and operational results aids in budget planning, forecasting, and strategic planning, aligning with the goals of sustainability and growth within the healthcare sector.