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An examination of the differences between a financial manager in the healthcare industry and other industries.
... In the health care industries such as hospitals, the financial managers have to prove their capability of true leadership since most of the times, particularly in this area; the financial managers ignore the basic requirement for leadership ability. Thus, educating counselors can instruct them the precise and definite skills of leadership, in order to develop and progress their communication skills as well as free enterprise that at the same time is very essential (Robert, 2000).
The financial managers of healthcare institute improve their ability for leadership by firstly differentiating between the responsibility of leadership and management, and agree to new mentoring pattern. Then, they assess ...
... within their hospitals (Robert, 2000).
On the other hand, the financial managers of other industries have specific titles and duties, including credit manager, cash manager, treasurer and controller. However, in addition to the job titles above and their responsibilities as per the titles, all financial managers execute duties according to their industry. For instance, government financial managers are experts on the government appropriations and budgeting processes, whereas, the healthcare financial managers are well informed about issues that surrounds the healthcare financing. Moreover, these financial managers are also aware of special tax laws along with the regulations that affect their industry (Baker, 1999).
For instance, particularly ...
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