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The main responsibility of finance is to allocate and monitor resources that support the goals of the organization while ensuring a balance between revenue and costs. Improving financial strategy: HR needs to understand the factors that drive costs and revenue in their organization. The foundations of finance for HR. Transaction.
For example, a small hospital may lose revenue to a neighboring hospital with several MRI scanners. The cost of the scanner would then be set against the potential increase in revenue and lead to a decision-making outcome. Such collaboration also shows that healthcare organizations invest in staffing in their practice at every level.
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