Documenting investment policy boosts safety, returns.
The process and responsibility for a healthcare organization's investment decisions should be clearly documented in an investment policy. Any investment policy should contain at least seven elements: how investments relate to the organization's mission; responsibilities of involved parties; long- and short-term objectives; desired balance between return and risk; proportions of a portfolio held in stocks, bonds, and other investments; disposition of donated assets; desired investment reports; and the process for keeping the policy current.
Kovener
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Healthcare Financial Management Association, Washington, DC.
D004282:Documentation / Q000592:standards*; D005377:Financial Management, Hospital / Q000592:standards*; D007449:Investments / Q000592:standards*; D016134:Organizational Policy; D011050:Policy Making; D014481:United States