Hcs/405 Health Care Financial Term Paper

The Affordable Care Act was signed into law March 23, 2010 by President Barack Obama; however, the constitutionality of the law remained in question. In a controversial 5-to-4 ruling, The U.S. Supreme Court upheld the law on June 28, 2012. The ACA is thought by some as the United States health care rescue, and as its downfall by others.

The bottom line we need to concentrate on cutting cost of health care and quality care, which we all deserve as human beings. There is not just one factor that contributes to the health expenditure but several pieces to this puzzle that makes this a major health cost issue. We need to find ways to decrease spending too much, so people can benefit from their health plan. The nation should consider cutting hospital care, clinical services and prescription drugs, since these are the top expenses for health care. This would definitely clear a path for reduced cost. The public can barely afford to pay premiums to their private health insurance companies but if they want coverage they have to pay. The one’s who qualify for Medicare and Medicaid will get help from this government program for health care cost and yes some

25% or more of one’s income going toward health care is too much for today’s economy this

Therefore the annual interest rate is 8% and the effective annual rate compounded quarterly is 8.24%

Strategic Planning: Due to the current issues, both internally and externally, the organization is facing, Dr. Townsend is challenged to prepare an action plan to implement the proposed strategy needed to restore the organization back to financial health and improve the morale among the physicians and support staff. Another course of planning Dr. Townsend will challenge is the organizations old structure into a way that all patients will be satisfied.

Over the past decades, policy makers have been inundated with the challenge of how to raise revenue for the health sector and how to allocate such resources in an equitable and efficient manner; with the developing countries having a major concern of sourcing and maintaining healthcare expenditure. [7]

If you’re wondering how important health benefits are to your business, the answer is very important! In fact, workers consistently rate health benefits as one of the most valued benefits an employer can offer next to vacation time and pay increases. It’s something that has become a mandatory offering from businesses to employees. Without this offering, potential employees won’t find your business competitive.

Finally this project is projected to take around 18 months to be completed along with hiring staff, renovations, ordering supplies and machines. The budget is projected for $2.45 million which we have started cutting cost in many areas along with the money that we have already acquired for this project currently of $1.7 million. We have been approved for $1 million from the government and will be able to obtain the rest from what we save throughout the urgent care budgets. This new venture will be a great opportunity for this urgent care facility to give back to the patients that are not getting the proper care needed and those that neglect to follow-up on their doctors visits.

What is the financial impact of this situation on the organization? Develop a short plan for how you would compensate for this situation.

The first step of inventory and visioning is accrued out objectively to gather and absorb date of the market in addition to indicators and capital resources. This stage will ensure that the strategic plan and the current program are deliberated. The analysis of the current hospital facilities will be carried out in this stage.

Before making the decision to purchase or lease a business needs to evaluate how the equipment will be used and the useful life of the equipment. Purchasing equipment has both pros and cons depending on the circumstances. Equipment of any kinds has maintenance and repairs over the years. One advantage

What would be the best option for a company to lease or purchase equipment? Each business owner’s situation is different. The decision to buy or lease business equipment is unique. It must be made on a case-by-case basis. Leasing equipment preserves capital giving the business more flexibility. While leasing can be good in the short run it can cost you more in the long run. We will look at the advantages and disadvantages of leasing. My research will look at the different options a company faces if they lease or buy and why it has become more attractive to lease.

The healthcare industry is a fast-paced world that is directly influenced by research and development, which increases new technological advanced medical treatments for patients. However, with the investment into this new medical technology comes an increase in expenditures for the health care business. Therefore, in order to combat expenditures of the health care business the company should invest their strategic thinking into developing a strategy that will bring profit to the company and longevity. A necessary step into creating that strategy requires a situational analysis of the external and internal environment of the health care business, which will help to identify competitive advantages (Kokemuller, n.d.). In turn, using strategy formulation the business can develop strategies that address where the company is going, the exact methods of how the company will be getting to that future, creating ways of propagating the intentions of the company, and deciding the organizations behavior within the market that the company is targeting (Ginter, Duncan, & Swayne, 2013, p. 210). Subsequently, these steps help to form the strategy of the health care business, but one must use an action plan to make sure that employees and management are utilizing the strategy properly. The action plan will help to make sure the lines of communications are spread throughout the company from the top of management down to the employee, so that everyone is aware of their part in creating a

In the business of healthcare, the engine example is analogous to operating a business. The elements of creating a plan in support of allocating resources to improve patient outcomes while maximizing output is the foundation of the healthcare experience. How to best do this requires a thorough understanding of the strategic direction. The organizational vision and mission help lay the foundation for the business plan. This plan can be used to develop the financial budget. Financial planning allows for maximization of resources to

According to estimation, our company --- Medifacespa will get much more profit in the third year of operation schedule. The previous year of financial growth will be driven by equity investment as well as debt financing. The following table will give the detail about our financing plan . It is worth to mention that, our assumptions and schedules are based on realistic estimation and forecasting,