Health Management Associates was found in 1985 by Jay Rosen and others. Health Management Associates had a lot of experienced public officials when forming. Health Management Associates concept is to believe in value and importance of publicly financed health care programs in America. Health Management Associates were able to see a need and understood the commitment to Programs such as Medicaid for people that aren’t privileged to having a good amount of income (Health Management Associates, 2015.)
Health Management Associates primarily provide healthcare services in hospitals and other healthcare facilities in non-urban communities. HMA’s services include their Health Policy Development and Analysis; The Company operates 71 hospitals in 15
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Community Health systems shook up the hospital industry. The Franklin, Tenn.-based hospital company announced it will acquire Naples, Fla-based Health Management Associates in the deal valued at $7.6 billion. (Herman, 2013). CHS will pay some cash and assume debt in the deal, which was the second major for-profit hospital merger in as many months. Dallas-based Tenet Healthcare Corp. announced in June it will acquire Nashville, Tenn.-based Vanguard Health Systems for $4.3 billion.
As the CFO, suggest one (1) key strategy that you might use in order to improve the financial performance of the organization. Recommend an approach to implement the suggested strategy. Provide support for your recommendation.
As CFO one key strategy I would use to improve financial performance would be to work closely with the Board Members and Stakeholders that are in the field to assist with continuity and growth for the Hospital. I would work on implementing plans and have budgets that will increase profits. I will look to create ways for growth and development to help stay consistent with profit margins. I will work on ways to work with others to see how strategies can be put together in a way to support learning, oversight, accountability and
I agree that Healthcare executives are HR Managers. Healthcare executives are managers because they manage business operations. Health care facilities can be small, medium or big enterprises that involve classic business procedures and practices (eHow). Healthcare executives are responsible for engaging with medical staff, making sure they do their job. Other task include scheduling, making sure requirements are met, addressing needs of staff, administrative duties and managing budgets. Well experienced Healthcare administrators may train and mentor
Health care administrators play a critical role in demanding medical field. There are many challenges and benefits within the administrator role. A great health care administrator can transform the healthcare organization. Within this in mind, Dionne Epstein agreed to conduct in-person interview to discuss her insight regarding the healthcare industry. Ms. Epstein has a unique background experience in healthcare and administrative services for over ten years. She even worked at Charity Hospital during and post-Katrina here in New Orleans, Louisiana. Ms. Epstein was a perfect candidate to discuss about the healthcare industry because of her educational background and experience.
• Know that your Association is engaged and involved with other leaders in healthcare nationally in efforts
The American Hospital Association (AHA)represents a large number of member hospitals. This group has a significant voice in policy making. The CEO and CMO should actively engage the AHA and participate in efforts to present the issues to CMS. This engagement needs to be proactive and direct. There needs to active participation with AHA committees and task forces that are involved in this process. The System need to provide the resources need to facilitate this participation. In addition the system may need to consider financial support for the political action groups of the
They are concentrating on serving those areas, where there is an immediate need. This is because they have limited resources and must be able to focus them in a way to realize the greatest benefits. This is achieved through implementing polices that will emphasize specific communities and regions. Their earnings are distributed to beneficiaries in the form of added services. They use them to run operations and maintain the needs of stakeholders. This is a threat to HCA, as more of these entities are emerging to address the needs of consumers (who cannot afford the traditional costs of healthcare). ("HCA Holdings," 2014) (Standard and Poor's,
The purpose of this paper is to conduct a comparative analysis between for-profit hospitals and not-for-profit hospital. It will discuss the characteristics of each as well as factors affecting the operations of both systems. Additionally, it discusses potential areas of improvement and some of the challenges associated with each relative to finance and operations.
This assignment will be a good review of the following: Choose a company or an industry in which you have worked or would like to work. It could be a hospital or a physician practice. Identify all the important stakeholders for the entity. Determine the primary aims/objectives of each stakeholder. Assess the power of each stakeholder to affect the company’s strategic plans, and how it may apply that power. Explain how the company might respond to the possible actions of each stakeholder. Recommend tradeoffs that company managers could make to accommodate the stakeholders in a way that optimizes the company’s own performance.
The purpose of this report is to provide a concise review of Medical and Health Services Manager career, also know and further referred as Health Services Administrator (HSA) and is intended to spotlight the career benefits and challenges as well as individual qualities of the future HSA candidate. HSA professionals are responsible for management, planning, directing, and coordination medical and health services and supervise the facilit’s compliance with the latest healthcare laws,
Healthcare managers are sometimes referred to as healthcare administrators and healthcare executives. At the most basic level, the healthcare manager job description is to manage all or part of a healthcare facility (Healthcare Manager Job Description, 2010). A health care manager’s role will vary depending on type and size of the facility they work in. A health care manager in a large hospital may oversee one department but work with several health care managers to ensure that the hospital runs smoothly and evidently. But at a smaller facility a health care manager may oversee the entire facility.
Health care administration is a professional challenging environment with some of the most critical issues and problems in our society. Health care administration combines my knowledge and experience in business and health care. My accomplishments are a result of my ability to assess situations, generate a plan of action, and work the plan. Following is my plan of action for my career in health care:
Health care administration is defined as the process through which a country, region, or organization mobilizes health care resources. The end goal of health care administration/management is to effectively delegate a limited set of resources (money, manpower, hours) to create an optimal result (positive health outcomes). While the broadest goal is singular across all regimes, the means to access them are divergent. In some countries, such as the United States, market based models have commercialized health care (Woolhandler, 2003). Like any other product, health care in America is to be bought and sold on the open market. While there were alternative options available for the poor and elderly (Medicaid/Medicare), health care access was determined purely by market processes (Woolhandler, 2003).
During my time with them, I was able to differentiate between the functions, roles, and responsibilities of healthcare managers, while working with the following managerial positions. I was able to view them carry out various management functions of planning—closing of a pharmacy, getting annual goals for annual merits, discuss implementation of FY18 strategic planning, staffing--interviews, directing—manager/leadership meetings and staff meetings, controlling—weekly safety huddles addressing patient safety events, addressing staff concerns, and addressing staff behavior, and decision making—completing daily tasks and going to
They are reliable for planning, managing, and coordinating medical and health services. Health care industries would not be able to succeed without health services administrators and managers performing these critical duties that keep various medical facilities in operation. Medical and health services administrators are obligated to be able to adapt to changes in healthcare laws, regulations, and technology in order to effectively meet the needs of those who depend on them (Medical and Health Administrator, 2011). Health services administrators have a variety of working conditions, depending on where they are employed. In small hospitals, health administrators may personally direct the functions and actions that blend to make an organization operate. In larger hospitals, they may work through a team of assistant administrators who regulate daily procedures (Health Administration, 2015). A Bachelor's Degree, Master's Degree, or Doctorate in Health Administration qualifies a person for this occupation. Salaries of health administrators depend on the level of job responsibility, size and type of organization, size of the administrative staff, and budget. However, according to the federal Bureau of Labor Statistics (BLS), the median pay for health services administrators with a Master's Degree or equal experience employed in federal hospitals earned a median pay of $88,580 per year in 2012. The job outlook for healthcare administrators is strong, with the federal Bureau of Labor Statistics (BLS) projecting 23% growth nationally in the profession from 2012 to 2022, well above the 14% average for all
Healthcare management is a great, complex, and dynamic field. Like any business, healthcare requires exceptional administration to keeps its operations effective and smooth. Notably, the healthcare field is constantly growing, calling for the expertise of skilled administrators with the capacity to manage hospitals. Since my childhood, I have enjoyed solving problems, helping people, caring about the community and individuals, and having an excellent compensation and growth opportunities.
Wow Hospital (WH) managers also called healthcare executives or healthcare administrators, plan, direct, analysis and coordinate medical and health services. They might manage an entire facility or specialize in managing a specific clinical area or department, or manage a medical practice for a group of physicians. Medical and health services managers must be able to adapt to changes in healthcare laws, regulations, and technology.