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Managing finances is crucial for entrepreneurs looking to start a hospital as healthcare ventures involve substantial investments and complex financial considerations.

Following are some strategies that entrepreneurs should explore to effectively manage their finances before starting a hospital:

1. Financial Planning and Budgeting:  Create a comprehensive business plan and budget outlining the estimated costs of building, staffing and operating the hospital including revenue projections.

2. Funding Sources: Explore various funding options such as loans, venture capital, grants or partnerships and study insights of  each option.

3. Risk Assessment: Analyze potential financial risks including regulatory compliance, receivable management and unexpected expenses and strategies to mitigate them.

4. Capital Expenditure Management: Evaluate capital expenditures for medical equipment, technology, infrastructure and facilities while maintaining financial stability.

5. Revenue Generation Strategies: Explore revenue streams for hospital including patient care services, insurance reimbursements, outpatient services and specialized medical programs.

6. Cost Control and Efficiency: Examine strategies for controlling operational costs, optimizing resource allocation and implementing lean management practices.

7. Healthcare Insurance and Billing: Understand the intricacies of healthcare billing, insurance contracts and how to manage these effectively.

8. Compliance and Regulation: Study and implement financial implications of regulatory compliance in the healthcare industry including accreditation, licensing and quality control measures.

These strategies can serve as a foundation for entrepreneurs looking to manage their finances effectively when starting a hospital. Each point involves a complex set of considerations that can significantly impact the financial health and long-term success of the healthcare venture.