Question: Define the term incurred by not reported. How does it impact an insurer's budgeting and financial management processes? Many new healthcare managers do not have

Define the term "incurred by not reported." How does it impact an insurer's budgeting and financial management processes?

Many new healthcare managers do not have a financial background and lack understanding of key financial concepts like IBNR for example. In your opinion, what is the most effective way to teach basic budgeting and financial concepts to new manager or supervisor who does not have formal financial training?

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