Variance Analysis, health and medicine homework help

Variance analysis is very important for healthcare managers because it can be used to observe how well a healthcare organization is performing and also how close actual costs and revenues are to expected costs and revenues. However there are some caveats to its usefulness.

What is variance analysis and why is it important to healthcare providers? What is the difference between flexible budget variance and static budget variance?

At least 150 words. Include references

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