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Hospital financial statement analysis
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After explaining my proposal to Supervisor Renu, she expressed some weakness and more strongest point about my proposal. she told me if I talk this proposal to the board, there is an actual potential for the proposal to be established and the board will need more detail for the financial plan. Seema need to motivate the hospital and patients because, one reason is that hospitals lack motivation to record info that does not have a direct influence on compensation. And need to give answers was associated crosswise collections of hospitals, resolute created on their part of duals, to evaluate differing impressions of the HRRS. And another reason is, managerial information sets normally permit the gathering of a static quantity of data scheduled
The government controls and regulates healthcare somewhat because healthcare organizations are in a position to take advantage of the elderly and sick so there are regulations that protects them. It seems as though healthcare facilities are being paid less for their services today. Some critical measures for the survival of a healthcare organization are to optimize performance and quality. Finding system-wide efficiencies and cost reduction healthcare will help. In order to get better and keep high quality and performance while still raising reimbursements, it is necessary and important to involve doctors with the ideas and plans for any management strategies.
The situation further suggests that such healthcare institution needs excellent information system, medical technology, clear objectives that ensure the delivery of superior healthcare services, and obviously need comprehensive healthcare service.
Due to WellStar being a multi facility health system, its organizational design is constantly being reviewed for simpler and more efficient processes. WellStar’s two smallest hospitals, WellStar Paulding and WellStar Douglas, previously under went reconstruction with regards to their hierarchical structure in Patient Access Services (PAS). WellStar Paulding, the smallest facility of the five hospitals, renovated their managerial chain of command in PAS. WellStar Paulding’s patient volume is less than half in comparison to the 4 additional hospitals. As a result, their staff is smaller and only requires minimal supervision. In the past WellStar Administrators requested supervisors for every department, a manager of the entire department, and a director that managed PAS’ management directly and PAS staff indirectly. Recent cuts ...
This paper’s brief intent is to identify the policies and procedures currently being developed at Midwest Hospital. It identifies how the company’s Management Committee was formed and how they problem solved and delegated responsibilities. This paper recognizes the hospital’s greatest attributes and their weakest link. Midwest Hospital hired Dr. Herb Davis to help facilitate the development and implementation of resolutions for each issue.
The capital management plan consists of several steps, such as planning, analyzing, selecting, executing, and following up with the selected ones to reevaluate whether there are factors in the organization that may influence the decision of the selection based on needs and demand for the proposed project. Healthcare organizations must inhere a strategy to stay ahead of their competitors so that they can maintain their patient volume. By measuring the quality of care through performance, patient satisfaction, experience, and cost, all play a role in having patients choose your hospital. Today, many healthcare organizations have adopted the triple aim strategy of great quality, great patient experience at a reasonable cost. With the tracking of their patient experience and continuously improving the quality of care at a reasonable cost, to stay one step ahead of their competitors and to maintain and increase patient volume has been successful help in the healthcare market.
Hino, R. (2013, September 25). Hospital Strategic Plans Must Go Beyond the Status Quo. Retrieved from http://www.hospitalimpact.org/index.php/2013/09/25/p4358
Students who are looking for jobs in accounting or management are also taking the class for the fact that someone has to run hospitals. All students are interested in taking the class now, and because of that, Mr. Davis has started changing the class to keep all students informed the way the need to be. To keep this information relative, Mr. Davis is constantly in contact with college professors of all areas. “I want to know what they want their students to know before they start college. Then I use that in my class plans and give that information to my students.”
The ability of a unit to survive is largely dependent upon the hospitals internal financial budgetary performance and the external needs within the community. Developing a financial budget is a process that should use teamwork to plan and implement in order to be effective. The budget sets perimeters for administrators to follow throughout the year, allowing the director to report variances while providing guidance to maintain a minimum variance and adjust when possible (Finkler & McHugh, 2008). By using all department managers in the planning process of the new budget, the nurse executive is able to develop effective strategies for all departments while investing in the goals. This eliminates many problems associated with budget and identifies areas that need improvement or expansion. Because of the competition, declining margins, and other economic pressures, nurse executives need to take steps to control costs and increase revenues for this unit. The overall goal of the financial performance within the organization is to meet the total budgetary needs of the unit to produce favorable outcomes. My focus will be to propose the expansion of a new Joint Replacement Unit (JRU) within the hospital, while identifying the major operating components of the budget for this organization. The importance of reviewing the budget for a newly developed unit is to allow the nurse executive and administrative team to manage the existing organizational programs within in the facility, plan for goal accomplishments for the new unit, while controlling costs.
HCA, after following a conservative financial policy since its establishment, has entered the new decade preparing to make some changes in order to realign their financial strategy and capital structure. Since establishment, HCA has often been used as a measure for the entire proprietary hospital industry. Is it now time for the market to realign their expectations for the industry as a whole? HCA has target goals which need to be met in order to accomplish milestones in the future. The problem arises as to which area holds priority to the company. HCA must decide how the key components of their financial strategy and policy should my approached in order to meet their future goals.
...be beneficial for the hospital. The nurses are the front runners in patient care, and their input should be taken into serious consideration. Testing this plan, and revising it before it is fully implemented, can only have positive outcomes for the hospital and patient care.
Implementing the use of Electronic Health Records (HER) would lead to accurate payments during new procedures, fewer rejected and improper claims, improved disease management and better understanding of health conditions and heath care outcomes (Jaynelle, 2009). Another implication would be the staffing of the community hospital. This would imply an increase in expenses. If the facility were to forego one of the two crucial matters, then staffing of the facility would suffer. A reduction in staff members would lead to a decrease in expenditure but negatively affect nurse-to-patient ratio. The Government is proposing for staffing ratios to be legislated, which will have a positive impact on the nurse but the Panton-Fuller health facility will now have to be prepared for a financing uncertainty (Jaynelle, 2009).
The three components that I believe make an effective supervisor are: communication skills, mentoring and able to support supervisees. Communication “ connects individuals to each other and develops in people the habits of acquiring information prior to making a decision” (kindle, 1342). From a supervisory standpoint, good communication /dialogue can make the difference between a successful team or not. Mentoring is important because it enables the supervisor to show genuine care and concern, while ensuring the supervisee understands the task at hand. Understanding that your supervisees are your most important assets, it is necessary for the supervisor to provide his/hers subordinated with the support they need in order to enable them to
Examine a significant way that the Joint Commission has influenced the basic functions of HRM and predict the likely impact of the policies and procedures at the your acute hospital. Provide support for your rationale.
A field study would be the most beneficial to this case because the administrative staff already agreed upon trying out the program. The hospital employs 160 supervisors and each program session is suggested to consist of no more than fifteen members. Due to this requirement, the administrative staff should randomly select fifteen employees to take part in the trial. Before the training actually begins, each participant should be evaluated to see the extent to which they understand and implement the management process. The administrative staff can set up a template with key points that should be evaluated according to the hospital’s individual needs. During the actual training period, which would last eight weeks, the administrative staff should continue to take notes on the subjects’ reactions to certain parts of the training. This analysis would benefit the study because it would help leaders of future training sessions decide on what should continue to be done and what parts of the training should be modified or removed. Once the training sessions have been completed, the administrative staff would proceed to conduct another evaluation. This evaluation would be similar to the evaluation conducted in the beginning of the trial but it should also be put together in a way that would test the knowledge gained from the training. An option would also be to follow up some time
With regard to the healthcare organization, it is essential to develop a strategic plan and a clear vision so that the patient focused care will be at par with the organizational process that is conducted operationally and on a daily basis. SSM Health Care has its call letters for meetings standardized at all their sites as part of its protocol. Its values and missions are attached to its call letter for meetings as constant reminders for their staff. Indirectly, this approach helps in translating our vision on how people should behave at SSM Health Care.