Financial Management and Variance Analysis Discussion

Description

Part 1

Please reflect on the assigned readings for the modules. Choose one topic from the assigned readings, and provide a brief reflection (1paragraph) stating how this will be applicable to you as a healthcare administrator or working as a healthcare professional.

Part 2

Please answer all questions below.

1. What is variance analysis? Do you believe variance analysis would be a good idea at your current/future workplace? If so, why? If not, why not?

2. What is financial benchmarking? Please provide an example of how you would use it in your current/future line of work.

3. Big data and data analytics are in their infancy within the healthcare industry: how do you think using these tools can reduce the costs of healthcare in the future?

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