- The main mission of the Finance Directorate is to provide useful financial and managerial information reports to the Director of the Medical Services, Headquarters in order to take better decisions.
- Better control over the Cash Payments according to the cash liquidity
- Better control over the Purchases according to the available budget
- Better control over the Expenditures according to the priority
- Management of commitments and its problems of delaying
- Physical checking of the warehouses – In and Out processes – Qty on Hand, Qty on Order, Qty quarantined
- Internal Auditing of the Revenue, Cash and Credit
Department sections include:
- Expenditure Section
- Revenue Section
- Private Practice Section
- Costing & Statistics Section
- Inventory Control Section
- Companies and Health Insurance Section
- Cashiers and Appointments Section
The function of the Accounts Department is to provide useful financial and managerial information reports to the Director and the Deputy Director of the Medical Services and all the Head of departments to arrive better decisions.
The financial and the managerial information reports are governed by a set of rules called “International Accounting Standards” or IAS. These standards are the rules adopted by the accounting profession as guides in Measuring, Recording, and reporting the financial affairs and activities of the Medical Services.
On the other hand: IN EMERGENCY SITUATIONS the Accounts Department with coordination of the Director of Medical Services and Head Quarters will forecast an emergency budget for the Medical Services to fulfill the medical precaution plan.
1. Re-engineering the recording mechanism on the three systems to follow the professional way of recording i.e., implementing Debit – Credit (daily transaction records).
2. Producing financial statement reports (e.g., Income Statement, Balance Sheet and Cash flows), analyzing the financial status of any department in the Medical Services, the four Directorates and the organizations.
3. Introducing an auditing division to verify the financial and the statistical information.
- Audit stock quantity, evaluating the fixed assets “vehicles”, monitoring the statistical data.
- Number of outpatient in the clinics, number of nights utilized, Number of Operations performed.
4. Implementing ratio analysis to summarize the outcome for management decisions.
Examples of ratio analysis:
- Profit margin ratio
- Stock turn over
- Current ratio
- Production volume.
5. Graph and Chart Analysis is the professional way to report the outcome. It will guide the top management to analyze the following.
- Break – even point on the production level.
- The fixed cost level for each department.
- The variable cost level and its relationship with the level of productions.
- Finding the contribution margin and the maximum ratio which the department looking for.