Financial and Business Issues: Financial Management: You’ve Got Shrink! Cash flow management is arguably one of the most important tasks in managing the overall finances of an organization. Managing a budget can also be difficult in any setting, regardless of organizational complexity. There are many claims on your department’s cash, and the constant push and pull between revenue ... Article
Article  |   June 01, 2005
Financial and Business Issues: Financial Management: You’ve Got Shrink!
Author Affiliations & Notes
  • John M. Torrens
    Interactive Therapy Group, Jamesville, NY
  • Peter Roy JohnsonColumn Editor
Article Information
Practice Management / Professional Issues & Training / Financial and Business Issues
Article   |   June 01, 2005
Financial and Business Issues: Financial Management: You’ve Got Shrink!
SIG 11 Perspectives on Administration and Supervision, June 2005, Vol. 15, 6-8. doi:10.1044/aas15.2.6
SIG 11 Perspectives on Administration and Supervision, June 2005, Vol. 15, 6-8. doi:10.1044/aas15.2.6
Cash flow management is arguably one of the most important tasks in managing the overall finances of an organization. Managing a budget can also be difficult in any setting, regardless of organizational complexity. There are many claims on your department’s cash, and the constant push and pull between revenue and expenses can be stressful.
This article uses a common metric from the retail industry to help conceptualize a new way to measure the gap between what a department anticipates generating and what it actually generates. That concept is called shrink. It is not commonly acknowledged in clinical settings, but it affects cash flow much more than one might think.
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