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Nine Topics on Finance and Accounting
Finance & Accounting
Pages 9 (2259 words)
Topic 1 I used to work for the King Abdulaziz, medical city which is a Riyadh based hospital. The main source of revenue comes from the patients which they pay as fees for their treatment in the hospitals. A major portion of the financing is accomplished by government allocated budget and the revenue received from private consultations.
The service providers are in tie-up with the hospital for usage of their products. The hospital also receives grants, accreditations, certifications from various organizations. However the main source of revenue can be accounted to the fees received from the patients. The various expenses incurred by the organization lies in the staffing. The hospital has a considerable strength of manpower which includes Doctors, Nurses, Technicians, Pathologist, Clerical staff, and other support staffs. The hospital also spends a considerable amount of money behind installation of latest technological equipment for providing world class facilities for its patient. It also has to maintain a high level of cleanliness and hygiene as it is one of the important issues. King Abdulaziz, medical city does not concentrate on profit making. The hospital focuses on the quality of health care and looks to provide the best of services to the patients. It thrives to provide relief to the ailment in the best possible ways. According to respondent 1, King Abdulaziz, medical city also looks after profit making. It has to maintain a profit margin as without profit it cannot look to provide the best of services and would have stopped its operation because of shortage of capital, which is contrary to my view mentioned. ...
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