What are the reasons why ALL managers not just clinical mana

What are the reasons why ALL managers, not just clinical managers, need to know about finances and budgets when these activities are so far removed from patient care?

Solution

Following reason may not be exhaustive but touches the basic points as to why all managers need to know about finance and budgets although these are not part of patient care:

1. Without money a business can\'t run. All stakeholders needs to be paid after eliminating the operation expenses.

2. Every department has to achieve its target within a stipulated budget else the profit will be lower. It is essential for the organization\'s survival.

3. For business expansion and better customer service (including latest equipments and items) the oranization sneed to earn profit.

4. Every mangager\'s act or decision impacts the bottom line. So, they should know how much is impacted and how to control the cost and get better business from the customer.