Financial Environments: A Comparative Summary Dana Lawson HCS/577 October 7, 2013 Professor D. Chen Financial Environments: A Comparative Summary The health care industry accounts for a significant portion of the nation’s gross domestic product and expenditures. The influence of this industry on the nation’s budget steadily increases every year along with pressures from federal and state agencies to control rising costs. Financial management lays the foundation for sound operations at health care organizations, which then equips leaders and managers with the knowledge needed to improve patient care initiatives. Also, understanding the financial environments of the various health care entities will help leaders and managers to use resources more effectively to guide their respective organizations into financial stability. This paper will compare the financial environments of three entities, describe the policies unique to each type of financial environment, discuss common financial management practices, and explain the importance of effective financial management in health care.
(Health Management Associates, 2011). To house the increasing need of services I have decided to renovate the ER department. Renovating the emergency room will make a significant transformation in the time and accessibility in the increase of the volume that is expected. WRMC emergency department will deliver superiority health care aid to community. As previously stated, the emergency department provides patients with rapid treatment for sudden illnesses or trauma.
To this date they have short term 3-5 year and long term >5years. The absolute time line and specific plans are not readily available secondary to the local competition. The corporation’s strength in regards to planning appears to be that it is continuously improving their facilities and services to the region. The financial ledger is sound and the hospital does have capital for these improvements. Funding is in part by major corporations, businesses and government
Although Emory have other facilities, the Clifton Road facility is where the community goes to receive treatment. Consumers of all ethnicity visits Emory to receive health care. Emory’s health care facility is visited by the entire population in Atlanta because it provides; clinics, specialty services, cancer center, orthopedics, gynecologist and other service provided by the hospital. The elements of Emory Healthcare offers wide continuum of care, and serves a broad scope of health care needs. Emory Healthcare is a physicians group practice establishment that consists of; primary care, cardiology, anesthesiology, pathology, and emergency medicine.
CareNetWest (CNW) is a large healthcare company that has grown almost exponentially in the past two years. In addition to dealing with issues of rapid growth, they are now facing required adherence to the Sarbanes-Oxley Act of 2002. Publicly owned companies are compelled to disclose all matters related to financial activities within the organization to minimize any possibility of dishonest financial disclosures to the public. Section 404 of the Sarbanes-Oxley Act requires public companies to include a report about the effectiveness of controls in their annual form 10-k. Internal controls consist of procedures used by management to ensure accuracy and reliability in performing certain business functions such as financial reporting. Along with
Just the amount of people that have diabetes has an impact on the needs of health care because it requires more physicians, medical professionals, and nurses this will ensure that there are enough health care professionals available to be able to deliver the quality of care patients with diabetes need. Individuals with diabetes tend to get high medical expenditures. For example Diabetes alone accounts for about 98 billion dollars in just medical expenditures. This includes indirect costs, early deaths, and people that end up getting disabled because of diabetes (Harris, 1995). Then if an individual has to be hospitalized because of their diabetes that is about 13.9 million for just 5 ½ days in the hospital.
Medicaid Medicaid is for eligible individuals and families with low incomes and resources such as low-income adults and their children, and people with certain disabilities. However, a low income does not automatically mean a person is eligible for Medicaid. The fastest growing aspect of Medicaid is nursing homes, due to the aging of war veterans. Medicaid was created in the same year as Medicare, 1965. The programs are run on a state-by-state basis, and indeed, some even have their own names for Medicaid.
BASIL Career Management Essay Why did I choose to be a medical assistant? First, the medical industry is growing at an extremely fast rate and people will always need medical help leaving my career to have much potential. “According to the U.S. Department of Labor, more than 3.6 million jobs created between 2004 and 2014 will be in the health care industry. And 8 out of 20 occupations projected to grow fastest are in health care. That's excellent news for health care professionals who work as medical assistants.
Healthcare facility planning Healthcare Facility Planning HCS/446 December 24, 2012 Wally Ornsteen Healthcare facility planning Today’s healthcare system is more complex and with all the advancements in technology organizations are faced with redesigning in order to provide the highest quality of care. Since the reductions in Medicare reimbursements for skilled nursing, and home health services hospitals are seeing an increase in impatient services (Hayward, 2007). Because of continuous rising health care cost health care organizations focused more on outpatient services in the past. With the increase utilization of inpatient care services hospitals and clinics are looking to reconfigure their facilities to use new technology and
As the US primary care system confronts provider shortfalls due to demographic trends, the growing prevalence of chronic disease, and low proportions of physicians choosing primary care practice, a possible solution is expanded use of physician assistants (PAs) and nurse practitioners (NPs). This solution is supported by a large body of research demonstrating high quality of NP and PA care and by recent research suggesting that higher proportions of NPs in primary care clinics are associated with improved outcomes among patients with diabetes (Morgan, Abott, McNeil and Fisher, 2012). In my opinion the most important role of human resources in healthcare is ensuring the delivery of services that provide quality, efficiency and equity to its consumers. There are numerous studies that demonstrate how the use of nurse practitioners as primary care providers can significantly assist with meeting current healthcare deficits. I feel as though the utilization of nurse practitioners as primary care providers can greatly assist with the delivery of healthcare to the millions of Americans that will be covered by the