Ah531
Earn Value Analysis
Grantham University
AH531 Financial Management of HealthCa
. Kyle Peacock
Date:
Executive Summery
As the world of technology continues on its evolving trend, and healthcare continues to be a major topic of discussion in Washington, many organizations are struggling with how to better prepare for the inevitable. The changes that will soon affect everyone in healthcare have many managers and CEO scratching their heads in an attempt to solve and to minimize the impact these new regulations will soon have on them. More and more organizations are looking for better ways to maximize their bottom line, while at the same time provide cost cutting measures to upper management. In the long run these future steps will ensure that these organizations will profit more, while doing more for less. One strategic endeavor that is taken hold in the medical community is the idea of Earn Value Analysis. This idea stems from a simple premise to break up a large organization into strategic parts and allowing them to function independently of each other. While this idea may seem far-fetched, it has proven quite useful and successful in other industries. The question is will it work in the Healthcare industry. The following paper will attempt to answer this very question.
Introduction History is a chronological record of events that have come to pass. For many of us the study of history and how individuals managed to live their lives in the old days has become unimaginable, especially in today’s technologically advanced society. It’s comical to witness the younger generation display a sense of awe at events that you and I experienced as normal everyday events, such things as turning the television channels manually, or making a phone call by using a pay phone, or even writing a letter to a love one and waiting up to a couple of weeks for a response. These insignificant events may not mean much to the new generations, but it means a lot to
Grantham University
AH531 Financial Management of HealthCa
. Kyle Peacock
Date:
Executive Summery
As the world of technology continues on its evolving trend, and healthcare continues to be a major topic of discussion in Washington, many organizations are struggling with how to better prepare for the inevitable. The changes that will soon affect everyone in healthcare have many managers and CEO scratching their heads in an attempt to solve and to minimize the impact these new regulations will soon have on them. More and more organizations are looking for better ways to maximize their bottom line, while at the same time provide cost cutting measures to upper management. In the long run these future steps will ensure that these organizations will profit more, while doing more for less. One strategic endeavor that is taken hold in the medical community is the idea of Earn Value Analysis. This idea stems from a simple premise to break up a large organization into strategic parts and allowing them to function independently of each other. While this idea may seem far-fetched, it has proven quite useful and successful in other industries. The question is will it work in the Healthcare industry. The following paper will attempt to answer this very question.
Introduction History is a chronological record of events that have come to pass. For many of us the study of history and how individuals managed to live their lives in the old days has become unimaginable, especially in today’s technologically advanced society. It’s comical to witness the younger generation display a sense of awe at events that you and I experienced as normal everyday events, such things as turning the television channels manually, or making a phone call by using a pay phone, or even writing a letter to a love one and waiting up to a couple of weeks for a response. These insignificant events may not mean much to the new generations, but it means a lot to
References: Dos Santos, J., & Oliveira, F. (2005). Enabling long term value added partnership in the healthcare industry. (Master 's thesis). Nagrecha, S. (2002). An introduction to earned value analysis. Retrieved from http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&ved=0CC0QFjAA&url=http://www.pmiglc.org/COMM/Articles/0410_nagrecha_eva-3.pdf&ei=ShW7UZKcGYzC9gTj_4HYCQ&usg=AFQjCNF4g2bNLdNcdq5s2OnxC2u8QfGl3Q&sig2=k5qyLKjkgLwxozz1wxFiJQ (2007). Managing capital investments at the indian health service. Indian health serive, Retrieved from http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&ved=0CC0QFjAA&url=http://www.ihs.gov/cpic/docs/IHS_AoA_How_To_Guide_.pdf&ei=xkS7UYiGOomm9ATW9ICoBA&usg=AFQjCNGIZggW_h8gK0CiINjoNWtSGXLmhQ&sig2=qNYNs1UrvGuz4SUZBILHOA&bvm=bv.47883778,d.eWU OECD (2011), Health at a Glance 2011: OECD Indicators, OECD Publishing. http://dx.doi.org/10.1787/health_glance-2011-en Steve, O. (2012). The rapid evolution of health care. The stand alone er, Retrieved from http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&ved=0CC0QFjAA&url=http://www.emcny.com/documents/whitepaperEMC2012-07_standAloneERs.pdf&ei=iEe7UYvFN43A9QSQioGoDA&usg=AFQjCNFWLcjDnHa4-ByUYS1ZujjNXixlcQ&sig2=0OsuGU9k0ZRZoFLG35XNhA Valle, J., & Soares, C. (2005). The use of earned value analysis(eva) in the cost management of construction projects. Federal university fluminense, brazil, Retrieved from http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=4&ved=0CEQQFjAD&url=http://www.icoste.org/ICMJ%20Papers/Valle%20-%20EVA.pdf&ei=PkW7UeT0BobY8gS18YCADg&usg=AFQjCNFSA-RUj35ZNIwD-ii15E76nCs9-Q&sig2=Sktqkw1XxvD8CRFJnvkbVg