Bayside Memorial Hospital Case Study

Bayside Memorial Hospital Mission Statement

Our mission is to provide high-quality patient care through superior healthcare initiatives at the lowest cost possible. By securing the top professionals in the healthcare industry, we will remain a top-notch facility. By keeping up with technologies and innovations that place the organization ahead of the competition. We look forward to serving the community in every way to lessen the burden of the healing process.

Financial and Strategic Planning

The foundation of a financial plan and forecast begins with a strategy of preparing for the future. During the planning process the focus is on the overall organization and where it intends to be financially; therefore, creating a budget that will address such things as incorporating the goals and objectives of all the

The examination and interpretation of those differences sum up what a variance analysis is. It helps to answer the right questions such as is the budget based on realistic expectations. It is denoted on a statement, according to Gapenski, “as a positive amount which signifies “good” or the desired result, while the negative amounts are “bad” results” (p.176, 2013). Using all these components of the cash flow analysis to make the capital investment decision to purchase a new MRI machine; Subsequently, I would recommend the purchase of the MRI machine for the healthcare facility at Bayside Memorial Hospital. While there are always risks involved in every capital investment, staying true to our mission is crucial. Of providing high-quality patient care through superior healthcare initiatives at the lowest cost possible and keeping up with technologies and innovations that place the organization ahead of the competition and keep us relevant is the basis of my