Narayan Hrudayalaya Heart Hospital Executive Summary

Cost reduction could impact the quality and efficiency of health care by using information technology (IT). It was a federal policy initiative to increase the outcome of patient’s health (Jacobs, 2012). It was for hospitals to increase the use of technology to assist to manage expenses. It ended up improving the

Narayana emerged initially as the world’s largest focused‐factory, lowest‐cost, and high quality cardiac care facility, initiated in Bangalore. It then subsequently morphed into a large Health City, and then spread geographically across India, and via diagnosis‐by‐telemedicine all over the world. Now, it has opened a state‐of‐the‐art facility in the Cayman Islands, to serve the Caribbean, and within striking distance of large numbers of US under‐insured, but just outside US regulatory waters.

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.

In a world of budget cut and layoffs, medical corporations face new and different challenges in addition to helping and healing patients. I used to work as a medical biller in a physician’s office for five years and I experienced how difficult for the health care providers to get reimbursed. The government and the insurance companies have been limiting the budget towards the health care services. This action also affects the hospitals greatly because Centers for Medicare & Medicaid Services (CMS) and some policymakers have requested the hospitals to reduce the

Over the past decade, virtually every major industry invested heavily in computerization. The heath care industry was no exception to the rise in the use of technology. These technologies are starting to allow health care practitioners to offer faster, and more efficient patient care than ever before. No doubt this is the right direction we expect health care to follow.

Gross Revenue – Gross revenue continued to make positive strides in March with gross revenue $327k in excess of budget. Gross revenue for the Hospital was $302k over budget for the month, with the largest over budget variances in Radiology ($329k), Lab ($111k) and Cardiology at ($70k). The largest under budget variances were in Med Surge ($112k) and Oncology ($85k). The Medical Group’s gross revenue was essentially on budget, with notable over budget variances in NLH Orthopedics ($82k)

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If significant advances in its special service lines are made it would allow the medical center to raise its capabilities considerably above those of other surrounding hospitals and function as a regional referral center for selected types of care (Zuckerman, 2005). An example of adding a new piece of advanced medical equipment is that our facility could be the first one to offer that service in the area. Especially if the new piece of equipment is a special new diagnostic tool; other medical treatment facilities in the area could place referrals to our which would increase our revenues even more or the patient could move to our practice at our facility. In the end the it might have cost some money but the return could be greater than without out the new equipment which could lead to more new advanced technology for the medical center.

To add to the dilemma, the rising cost of healthcare will not adequately be addressed by any new healthcare system. The costs of healthcare in America are staggering and currently represent over 17% of our national GDP with the expectation of that number rising to 20% in less than 5 years. These costs are direct hits on the revenues received by hospital which affect their ability to remain operational. As the hospital’s revenues and profit margin decrease, so does the expected longevity of the hospital.

They collectively understood each other’s strengths and weakness. Cohen, Klein, and McCarthy reported this to be a great challenge in forming and operation of the ACO, but without this mutual understanding they would not have been successful. Dignity Health, a large catholic hospital system incorporated in this ACO, had “greater risks for hospital facility costs”, and Hill Physicians “accepted greater risk for professional services”. In this way each entity saw financial gains and losses in different areas, but overall saw similar savings. They accomplished reducing their spending by “$20 million in the first year” (Cohen, Klein, & McCarthy, 2014). There was also a “20 percent reduction in hospitalization cost – reflecting a 15 percent reduction in 30-day readmissions, a 15 percent reduction in inpatient days, and a 12.8 percent decline in the average length of a hospital stay from 4.05 to 3.53 days” (Cohen, Klein, & McCarthy,

The best recommendations for the Elijah Heart Center will be able to get the hospital out of debt and help the center stay open. In order to help EHC, the capital shortage, funding options, and future expansions will be discussed and planned in order to improve and solve the problems that Elijah Heart Center are having currently.

Historically, reimbursement has been Fee-For-Service (FFS): tied to volume of visits, hospitalizations, procedures, and tests. This reimbursement structure creates misaligned incentives and fragmented, suboptimal patient care resulting in burgeoning costs and a lack of focus on outcomes. As a result, CMS and the industry have been

Total Patient Revenues at $31,231K were over budget by $1,009K or 3.3%. Inpatient Revenues at $6,448K were $116K over budget or 1.8%. Inpatient Admissions were under budget by (7.2%), Patient Days were under budget with a unfavorable variance of (13.6%), Deliveries were (15.6%) under budget and Routine Services revenue was under budget by (16.5%). Inpatient Ancillary Service revenue

Imagine a time in the history of our nation where the hospitals within were the envy of the world. In the 1960’s the medical facilities in the United States employed more people than the auto industry that served a population where one out of eight would be admitted annually (Stevens, 1996). These marvelous facilities contained air condition, artificial lighting, electric beds, carpeted private rooms, sterile supply services, advanced laboratories, and pneumatic tube systems. The infrastructure was great and it supported a population where more than 70 percent had hospital insurance (Stevens, 1996). In addition to, medical insurance was gaining popularity and major medical insurance companies started to grow.

The major problem, they have within the healthcare industry is the lack of government funding and the total expenditure on health per capita is $109, compared to the $7290 per capita in the United States. Healthcare consumes 4.9% of India’s GDP versus the 16% in the United States. The outcomes equal long lines, fewer facilities and inefficient staff. The supply of healthcare in India is on par with that in sub-Saharan African countries. According to the World Bank, 75% of all health expenditures is in the private sector, where 90% of healthcare costs are paid out-of-pocket.