Your expertise in accounting and finance has landed you the position of chief fi

Question

Your expertise in accounting and finance has landed you the position of chief financial officer (CFO) of ABC Hospital. ABC is currently experiencing a budget shortfall. Because it is losing money, it must reevaluate a commitment it made to add a new OB/GYN wing. This new wing could be a major source of revenue and could have a tremendous positive effect on the financial stability of the hospital. How can you improve ABC Hospital's profitability so that it can add the OB/GYN wing and keep its commitment to the community?

Explanation / Answer

As a CFO I would take following measures to improve ABC Hospital’s profitability

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