Any company or organizations need to analyze how its financial resources get used every time. The primary aim for this is to ensure accountability and maximum utilization of the resources available. From my calculations General Hospital is doing well in some sectors while it is performing poorly in others. For example the recommended SSP standards of accounts receivable recommends that it should be below than 46.2.The hospitals collections per years do not match up to their projected figures and thus they should cut down on expenses. The ratio of current assets to liabilities is favorable and up to the standards set. The hospital would not be able to operate if it runs out of funds in the account receivables as the cash on hand value is less than the recommended (Delen, 2013). It could only last for a period of 17 days before its cash reserves run out. The operating margin of the hospital is effective showing that it is earning huge profits from the treatment of patients. The organization is efficiently using its financial resources and assets making it profitable. The excess margin of the hospital is also favorable. It shows us that the …show more content…
The hospital should cut down on expenses- the amount of money used for operations is very high. The hospital can enter into contracts with drug a supplier that allows them to buy the medicine discounted prices. 2. Liquefy assets- To increase the cash on hand the hospital can sell some of their assets in order to have more money for their operations thus discouraging borrowing (Langabeer, 2015). 3. Assessment appraisal- the hospital should hire experts to assess it overall performance and provide recommendations thereby improving its operations. References Delen, D., Kuzey, C., & Uyar, A. (2013). Measuring firm performance using financial ratios: A decision tree approach. Expert Systems with Applications, 40(10), 3970-3983. Langabeer II, J. R., & Helton, J. (2015). Health care operations management. Jones & Bartlett
Ms. Tomcala, Chief Executive Officer, announced that Ms. Pat McClelland is leaving the Health Plan after 20 years of service and that she has accepted a position with DHCS as Chief of the Systems of Care Division. Ms. Tomcala also reported on audit readiness and that WeiserMazars has been coaching the team on how to address the auditors who will be onsite the last two weeks of April. Ms. Tomcala brought to the committee’s attention that DHCS has officially requested CMS to approve the MCO tax proposal. Lastly, Ms. Tomcala continues to have discussions with County representatives Mr. Bruce Butler and Mr. Paul Lorenz regarding the Default PCP Assignments and they have reached to Ms. Dolores Alvarado, SCCHA Board member, to ask for her assistance.
What I did – I reviewed 10 employee expense reports to determine if corresponding receipts were attached and approvals had been provided, and I also assessed whether reported payments were eligible for reimbursement based on Schnitzer Steel Accounting Manual Section 300-10 (Expense Report Approval Procedure and Supporting Documentation Requirement) and 300-20(Expense Report Eligibility Requirement). After two exceptions were identified, I pulled 40 more employee expense reports based on Schnitzer Steel Internal Audit Manual – Chapter 2: Sampling Methodology to determine if the exceptions were isolated instances or systemic issues. What I found – Within the initial 10 expense reports, I found two exceptions. Specifically, Sample No.7 with a total amount over $1,000 did not have required evidence of second approval from a department head, and Sample No.9 was missing one receipt.
Critical Element 1: TITLE: Cash Verification (CV) Financial Reviews S: Conduct and complete mandated CV reviews on negotiable instruments and other assets to ensure sound financial management. Provide advice, education and training to appointed collection agents and departments to ensure fund management efficiency/effectiveness, ensuring strong internal management controls are practiced. M: Conduct 24 reviews; prepare reports, ensure RM is briefed and afforded an opportunity to respond to report results; report results to the CO in a timely manner; follow-up on any reported findings in subsequent reviews.
Business Issue In an attempt to reunite the company after being geographically separated for seven months, my company commander decided to create a rotation between several of the employees. While the intentions of the switch were pure, the implementation created immense manning requirements on my organization. Due to travel schedules, my organization was going to have multiple days with employee shortages, forcing my employees to work double shifts instead of having a rest day; the same was not true for the other entity of the company. Consequentially, I had to negotiate with my commander in order to resolve the scenario.
After each month, the manager and two other people that do not deal with the financial statements meet and look other each office. They look at their expenses, number of patients, and revenue. Once they look over them they decide if changes need to be made and if so how they will make the changes. I also learned about the ethics of their company and approaches they take to prevent possible
1. Describe the application you selected and why. The application I’ve selected is “Todoist: To-Do List, Task List” on Google Play (android). The reason I chose this application is because it has many useful functions and is simple to use.
Improving Coordination of Patient Services and Access Supports a lean efficient operation ideal for staff collaboration and enhanced patient satisfaction We would assess patient demographics and compare As more and more patients demand seamless access to care and value-based care, we will work closely with you in designing and implementing innovative patient access strategies. These strategies will assist in retaining patients within the network of clinics, expanding market reach, and increasing patient engagements. c. Physician, Staff, and Administrator Alignment
It is now week two of interning back at this endoscopy center. I don’t consider this week two but just a continuation. I experienced myself violating HIPPA. I could not believe that I was very carless with a patient’s electronic health record. I was dealing with two different patients side by side when they were laying down after they had gotten their endoscopy procedure done.
Charfi Medical is implementing a compliance program to prevent fraud, waste, and abuse. This compliance plan has a mission of providing quality patient care. The compliance plan’s objectives are to provide a proactive program that ensures full compliance with all applicable policies, procedures, laws and regulations especially HIPAA. The HIPAA Privacy Rule creates a base of Federal protection for personal health information, cautiously established to avoid creating unnecessary barriers to the delivery of quality health care. Compliance plan objectives: Implementing a medical compliance plan limit our liability by reducing innocent billing mistakes and exposure to fraud and abuse allegations, which helps avoid governmental audits.
The financial state of our group is consistent with many other healthcare organizations. Specifically, we are experiencing flat or
For example, the variability of the patient census is uncontrollable, especially in an urban area where there are numerous competing hospitals. Nonetheless, I can control the personnel expenses by promoting a healthy working environment for nurses, in order to reduce turnover rates. Also, I will staff appropriately by considering the unit census and patient acuity. Furthermore, I can control the non-personnel costs by availing of cost-effective, high-quality materials and supplies. Lastly, I will implement a data-driven initiative that aims to reduce overtime and increase
The research methods were divided into four tasks which focused on student opinions on the “Windows vs. Apple” debate, and how universities could close the gap on those needs in an affordable manner. The survey which can be found in the Appendix along with sources which studied the changes made at Bemidji and Wilkes were used as the primary sources, while sources comparing the two platforms and the opinions of students across the country were used as the secondary sources. Task 1: Understand which platform students prefer between Apple and Windows and how large the disparity is. Determining the students’ preferences was imperative in order to establish any further case for reviewing the current computing situation. This was done by completing
4.5. Economic Order Quantity (EOQ) Most of the data was provided by the hospital to calculate the economic order quantity for each drug. For their current method, to calculate the ordering cost for each drug additional data was collected. The additional data collected was the number of orders placed per year for each drugs.
The New Department Director Dr. Grant is faced with patient’s dissatisfaction on their total length of stay in the emergency department. The waiting time at Kennedy Medical Center has been an issue. This could be because the staffs are spending too much time on their clients’ paperwork giving physicians less time with their patients, or organization culture performance. With Dr. Grant being the new department director, it is his duty to assure that quality and patients’ satisfaction comes first. Therefore, together with his staff collaboration, a designed plan to minimize the waiting time must be put in place to avoid overcrowding at the Emergency room.
Healthcare management operates in an environment of aggressive pricing, tough competition, demanding patients, and changing guidelines. To meet this challenges, healthcare management must respond quickly to identify critical system process, recognize relevant resources, access real time information, and analyze the “what if’ cases. There are two applications of computer simulation to healthcare management and operations (1) Applications to healthcare systems at various levels of communities, regions, or other nations which is intended to study the provisions of mental health, public health, health reform, or healthcare reforms with policy implications (2) Applications to specific operations, processes or service in healthcare institutions which includes applications intended to improve facility design, staffing, and scheduling to reduce patient wait times and operating costs. The common objective of these simulations models is to reduce patient waiting times in the emergency department or other settings