Mission And Value Of A Healthcare Organization

“VH must find a best solution on controlling its medical equipment maintenance costs, improving operation efficiency, reducing the operating total costs, thus, making the most of the government funds in order to improve patients’ satisfaction?

Carolinas Healthcare System is a large not for profit health care system, with over 40 hospitals across 900 locations in North and South Carolina. Carolinas Healthcare Pineville is one of the acute hospitals within this large organization (CHS, n.d.). It takes integration, coordination and planning to operate a profitable facility in this current climate. P. Hiltz contributes to this coordination and planning for Carolinas Healthcare Pineville. During an interview conducted on October 28, 2014, P. Hiltz shared his background, roles and responsibilities, budgeting practices and concerns for the future, as it relates to CHS Pineville. He also shared his predictions of future occurrences, as it relates to nurses. Chief financial officers are currently facing many challenges as it relates to planning a budget. P. Hiltz also elaborated on these challenges.

The health care system in the United States is known for being one of the most costly systems in the world. In 2010 the Affordable Care Act, (ACA) was implemented with the hopes of reshaping the system and decreasing the healthcare cost, (Mason, Gardner, Outlaw, O’Grady, 2016). . Somewhere along the way our country made healthcare a business. Understandings our country healthcare finances can be quit complex. In order to be successful the Chief Nursing Officer, (CNO), business owners and directors must understand the business principles. These individuals are placed in leadership role and therefore must have the characteristics of a leader, (Huber, 2014)

Each aspect plays a role, as financial management as a whole impacts the health care organization in a significant way. An example (that ties to evidence) of a primary component is the model analysis of the insurance system that affects the health budgeting spending on a statewide level. Further elaborating, the insurance system affects the input and output of the external categorization of the practical approach for a health care organization to utilize their primary care towards patients. Thus, as a result the aspects shift according to model process. Additionally, one’s perspective plays an important role in influencing decision-making in regards to financial management for healthcare. This is because the individual plays a primary role in the performance and internal indicators of the direction of the organizational mission; thus their output affects the organization’s advancement.

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.

As a health care administrator/manager it will be imperative for you to work with the

If a specific piece of equipment is necessary for patient care, the manager must have the long-range plan for the life of the instrument and then plan annually to account for the costs associated with the equipment. The manager should present the budget using both qualitative and quantitative

Managing a physician practice business involves careful financial planning and setting of organizational goals. Unlike other industries where operations can be executed with fixed budgets, most medical practices typically adapts a flexible budget system – one that can be changed easily within a fiscal period (Borglum, 2014).

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.

The envisaged benefits that ACO intends to deliver have made the ACO model to capture the industry attention nationwide. However, many hospitals are still considering their current state of readiness for ACO. On the other hand, some healthcare organizations are moving towards taking early steps of meeting the laid down requirements of CMS's (Centers for Medicare and Medicaid Service's). While ACO model is still a work-in-progress, the goal of the

According to Michael DeRosia, “core values is a broad phrase to describe the standards by which we characterize a person, profession, or organization (2010).” In healthcare, the attitudes and beliefs say a lot about the culture within the administration. Most beliefs are the same, to include attitudes towards helping those in need. The main ethics rule for healthcare administration is evidence-based medicine and access to health care while treating everyone with dignity and respect. Additionally, professionalism, responsibility and authenticity are some of the core values that support the attitudes and beliefs of the healthcare administrator (DeRosia, 2010).

For several decades health care has been tied to the economy and with the current downturn we see continued efforts to control and reduce over-head costs. Health care organizations in their effort to become more efficient and address changes in the industry have altered their strategic business plans. Lee & Alexander (1999) researched organizational change in hospitals and their survival, in this paper I hope to discuss their findings and add other examples to validate their conclusions.

Though they are not entirely comprehensive tools, a great deal can be learned about a hospital or other healthcare organization for-profit or not-for-profit from an examination of their annual financial documents (Finkler & Ward, 2006). The balance sheet and statement of revenue and expense can both yield valuable clues even in the absence of other evidence about changes that might be occurring in the organization, a definition of the type and degree of certain problems that it might be facing, and potential opportunities for improvement in performance that might exist (Finkler & Ward, 2006). Comparing two or more years' worth of financial information yields even more valuable insights, tracking movement in the hospital or other organization's ability to finance its activities and thus continue providing services at the same level, quantity, and scope as current operation.

These health care organizations have two types of planning to follow, and they are tactical and strategic planning. When tactical planning takes place, there is a short term goal in mind (Society for Human Resource Management, 2102). The course of action for a tactical plan is to achieve a goal within a year or less time period (Society for Human Resource Management, 2102). A tactical plan has a smaller scope and shorter time span than a strategic plan (Society for Human Resource Management, 2102). It takes several tactical plans to achieve the strategic plan (Society for Human Resource Management, 2102). Strategic planning differs from tactical planning, because in strategic plan, the course of action is to achieve goals for the long term (Society for Human Resource Management, 2102). Strategic planning goals are usually wanted to be completed with five years (Society for Human Resource Management, 2102). The organization’s mission statement purpose and direction are reflected upon strategic planning (Society for Human Resource Management, 2102). Top management must view reports on operations, external environments and finances when looking to develop a strategic plan (Society for Human Resource Management, 2102). The development of tactical plans are influenced by strategic plans (Society for Human Resource Management, 2102).

Budget formulation and use are tools that guide many decision making strategies in business. The measures that are least effective could create an avalanche of catastrophic events that can negatively impact the decision making strategies. It is in the best interest of the pertinent parties to draft an operating budget based on a collective set of information relating to organizational vision and mission. Ineffective measures can be catastrophic based on the foundation for measures used in creating the budget. Among the many issues organizations face that relates to creating an effective operating budget results from poor