Relationship Between Patient Implementation And Cost Results Of Hospitals

The key trend in each of the articles centered on patient quality. One thing that we all want whenever we go to a hospital

Keywords: The Joint Commission, Agency for Healthcare Research and Quality, Centers for Medicare and Medicaid Services, The American Nurses Association, Hospital Inpatient Quality Reporting,

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.

Nonprofit hospitals have become a common characteristic of the hospital sector because they can be found across the country because of their presence in almost every corner, they never decline to provide treatment, and offer several community-based health programs. On the contrary, the for-profit health facilities are regarded as the corporate model of health care services as they seek to make profit first. They enjoy huge capital that enables them to develop state-of-the-art facilities and purchase the latest clinical technologies.

Patient satisfaction: This issue can affect funding, revenue and reimbursement from insurance providers. Patient satisfaction can be affected by nearly any aspect of the hospital experience, surveys are done randomly to gain insight on the patients overall treatment at the facility. Negative feedback can cause assumptions about treatment and quality by the HCO as well as decrease in incoming patients.

High quality of service is being provided to patients at low cost. The cost comparisons between Shouldice and other hospitals in Table 1

From 1991 going forward, the health care environment again experienced fundamental changes as a result of the deregulation of hospitals which according to Ingols and Brem (as cited in Swayne, Duncan, and Ginter, 2006) was occurring for the first time in a decade. According to the authors, the impact of the move was immediate. Following the deregulation, the financial viability of most hospitals was

Since the NHS is a publicly funded healthcare system, healthcare costs are rising and the NHS foundation trusts are facing a deficit of £321m, a policy that assesses the cost-effectiveness of interventions is highly important. (NHS foundation trusts, 2015) Cost-effectiveness looks at drugs and treatments through an economic lens: how much do they cost and what do they cost compared to alternatives? Is it worth the cost? NICE assesses the cost-effectiveness of interventions based on a cost-utility analysis that compares the costs against the gains in the expected health outcome. The use of cost-effectiveness is about getting value for money. NICE uses the quality-adjusted life year (QALY) metric, which combines the length of life and health-related

The reason I feel there are three separate and different models are due to division of care for money. Hospital ownership makes a big difference in what kind of care you receive in the hospital. "For–profit hospitals have often been accused of “cream skimming” by selectively admitting only those patients who can be treated at acceptably high price-cost ratios" (Eskoz & Pedecord, 1985). For-profit organization's want to make the most money off of treatments in my opinion. There are three types of ownership to ensure the division of who gets care or who does not get care. "Ownership effects may also become increasingly important as health care responsibilities become more decentralized" (Eskoz & Peddecord, 1985). Hospitals have to continue to

The intention of this research paper is to further understand the financial statement of four distinct hospitals located in the San Diego, California County. An analysis of the financial report for Sharp HealthCare, Scripps Health, Tri-City HealthCare, and Palomar Health will be briefly discussed individually on each important financial outcome’s Such as: assets, liabilities, revenue, expenses, hospital debt, and investments. To analyze further, a break down between the hospitals assets, liabilities, and revenue will be compared in the paper.

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.

“Hospitals can be non-profit, for-profit, and government-owned and/or operated” (Baker & Baker, 2006). There are different terms for each classification in how to report and handle the finances but the basics are the same for any type of business. Business finances require the following basic fundamentals: creating “budgets, understanding capital expenditure, loan acquisition, and financial fees” (Baker & Baker, 2006). Government owned and operated hospitals offer unprofitable services; which

Governmental agencies such as JCAHO monitor the care of the patients from a nursing perspective. Quality of care affects the amount of reimbursement for care given to the hospital (Baernholdt, Jennings, Merwin, & Thornlow, 2010). The neighboring community often times depends on the hospital to meet their needs. The amount of people in a certain location may influence when and where the hospital is built. Competition from other nearby hospitals may be another consideration that influences types of care given in the hospital. External forces can add to the strength of the hospital by providing support and monetary compensation. A hospital, however can be weakened when certain rules are not followed, and the hospital receives a fine.

The hospital industry consist of privately and publicly owned and operated hospitals and medical facilities. The financial backgrounds of these assorted categories of organizations are sizeable and contrasted. Therefore, industry ratios are to be considered and evaluated from a greater proportion in order to identify with the financial data involving the industry as a whole (Dunn & Becker, 2013). Based on analysis and evaluation of the financial ratios gained from Nasdaq and Google Finance, it is apparent that the hospital industry is gradually rising and supports increase in profitability. These ratios are divided into several categories: Growth rates, financial strength, valuation, profitability, efficiency, dividends, and management effectiveness.

The problem at Memorial Hospital is the focus on costs instead of health care. When a health care provider does not take the primary business as the core value of the operation and make strategic and tactical decisions based primary on costs, it decreases the consumers’ (patients) satisfaction in long run. As consumers reduce or stop purchasing goods and services from the hospital, hospital may make more cost oriented decisions and falls into a negative cycle. Eventually the hospital may face the fate of loosing business to competitors and the possibility of closing the door.