Healthcare Management

I was nine years old when my family made the stannous decision to come to America; with only a few clothes and barely any money, the pursuit of the American dream seemed more like a fantasy than anything else. Ever since I was young, I was drawn to the medical field. Looking back, it all appears as a nightmare now: a cold room, no electricity, and my parents imploring for the nurses help. Yet this nightmare was my firsthand experience at the detrimental effects of a limited healthcare. Growing up in a poor town of Albania, I faced minor health concerns, but it wasn’t until I got sick with a common cold that my life almost ended. The unsanitary hospital condition and the lack of medications were part of the sad reality I could not escape from. Thus today, it is my goal to make a significant contribution to the health of the future generations. My passion for the medical field combined with my determination on building and perpetuating an outstanding healthcare service, has lead me to pursue a master’s degree in Health Administration

ATHE Level 7 Award in Programme Leadership (QCF) ATHE Level 7 Award in Sustainable Business Strategy (QCF) ATHE Level 7 Certificate in Developing Organisational Vision and Strategic Direction (QCF) ATHE Level 7 Certificate in Manage Continuous Organisation Improvement (QCF) ATHE Level 7 Certificate in Research for Senior Managers (QCF) ATHE Level 7 Certificate in Healthcare Management (QCF) ATHE Level 7 Diploma in Healthcare Management (QCF)

My strategy will consist of three phases. These phases include: capital shortage, funding options for equipment acquisition and funding options for capital expansion. During these three phases I will observe the necessary financial statements and documents. From this information I will analyze the information and decide the best strategy for improvements. I will not only focus on the goals for the clinic, but long term budget goals as well.

The finance department has reported that Elijah Health Center is facing a potential working capital shortfall which means the hospital may not have enough cash to sustain itself. The reasons for this shortfall is due to huge discounts given to managed care companies, higher wages given to contract nurses, low Medicare reimbursement levels, growth in current liabilities, and unused equipment. I will provide the best strategy in order to sustain the cash flow problem that Elijah Heart Center is facing. My strategy will consist of three phases. These phases include: capital shortage, funding options for equipment acquisition and funding options for

The role of finance in Health Care Systems, Inc. as a regional not-for-profit hospital relates to both the accounting and financial management aspects of the business. Facets of both accounting and financial management are intertwined with maximizing productivity by way of managing and analyzing financial operations to ensure resources are being utilized properly (Gapensiki, 2013). The divulgence of financial reports to managers and investors will aid in the development of plans and budgets for future growth, assess acceptable levels of financial risk, manage contracts appropriately and make decisions related to capital investments allowing the organization to expand service offerings thereby demonstrating greater value in the community. Operating as a not-for-profit entity requires that the hospital operate exclusively in the interest of the public for a charitable purpose. Through understanding who the primary third party payers

The Elijah Heart Center (EHC) has started seeing and realizing that the financial burdens that are starting to increase cost of staffing, the decreasing amount of reimbursements, the gathering of loans for expansion, and the costs of continuation of upgrading equipment is starting to seriously show strains and obstacles. From my analyzations EHC has to start projecting developments of series of options to create reductions in costs and to improve a stable amount of income. These decisions can be highly influential and by addressing these problems can secure long term goals and short term goals that can be reached to make EHC a more profitable organization.

According to the simulation, the options that I chose were the optimum choices for this situation. Any other cost cutting technique ran the risk of affecting quality of care either directly or indirectly through lower employee morale. The loan option was the best choice for a reason that I overlooked. The organization was getting a guaranteed payment in three months ensuring that the loan could be repaid in full saving thousands paid out in interest.

Improving and growing for the future, increase capacity to accommodate the increase patient inflow. Elijah Heart Center will embark upon a 75million dollar expansion to a new heart hospital able to house, 100 new private rooms and countless other amenities. It is the recommendation of the financial consultant that EHC chose the option for capital expansion with a, tax-exempt revenue bonds. Tax-exempt revenue bonds showed to be the lowest option among the three financial options. The net present value (npv) would be 21million dollars, higher than a private bank funding, yet lower than that of a HUD 242 loan insurance program. The interest is lower than all three options. Since the bonds are not callable for ten years, EHC will not profit from a fall in interest rates if it were to occur within those ten years.

I have been brought in as a financial advisor to assist Mr. Gilbert Sanchez, CEO at Elijah Heart Hospital (EHC) to find some cost efficient ways to continue to provide quality care but at the same time reduce costs for the organization. EHC is a hospital that specializes in Cardiac surgeries and procedures. They would like to expand and have a promising growth in patients as well as revenue, but with the decrease in reimbursements from their primary sources of revenue, new strategies to save money are a much needed organization-wide goal.

Molly: I am glad you enjoyed reading my post and thank you for responding to it. Discussion responses are so valuable to our learning process. So many things can be thought of being one way, yet your classmate might see it in a total different light. I believe this is in part due to our own form of individualism. Which is derived from our culture, the society we live in, and our own personal thoughts about different subjects. I truly believe as future Healthcare Administrators we need to always keep an open mind, even in the scenario where we may be totally correct in our thinking, there still may be something else that can be added to your thoughts from the thoughts of others. Just because something has been done one way for years,

In addition, the cost of issuance for the HUD loan is $725,250 which is almost double that of the next closest competitor which is Private Bank Funding. However, the lower interest rate of 3.90% per annum is $210,000 per year less than its closest competitor which is Tax Exempt Bonds. As a result the interest savings is $1,470,000 over the seven year period. The outcome is a healthy choice for Elijah Health Center, because of the savings realized over a period of seven years.

Healthcare risk management ( HRM) began in The late 1970s, when hospitals are facing a malpractice crisis (Kavaler & Alexander, 2014). According to Kavaler and Alexander (2014), it is estimated more than 140,000 Americans die from medical errors and the cost ranges between $17 billion and $29 billion each year in the United States (Kavaler & Alexander, 2014). In this essay, the student will explain a healthcare risk management program, evaluate the program for compliance with the American Society for Healthcare Risk Management (ASHRM), and Examine the administrative process of management the risk program.

In this paper there will be a brief discussion of three forces that have affected the development of the U.S healthcare system. It will observe whether or not these forces will continue to have an effect on the U.S healthcare system over the next decade. This paper will also include an additional force, which may be lead to believe to have an impact on the health care system of the nation. And lastly this paper will evaluate the importance of technology in healthcare.

Given the fact that the United states of America and Canada are linked together sharing a border which is open basically to and from both sides, their health care systems are highly different from each other and how the services are financed, organized and given to the citizens.

The management of cash is essential to the survival of any organization. Managing an organization’s financial operation requires knowledge of the economy and ways to maximize revenue. For any organization to operate on a daily basis adequate cash flow is required. Without cash management the organization will be unable to function because there is no cash readily available in case of inconsistencies in the market. Cash is also needed to keep the cycle of the company’s operations going.