Capital Project
Capital Budget Project
HCS/571
November 26, 2012
Capital Budget Project
Introduction The amount of money that can be borrowed has many entities and factors that influence the capital budget of the hospital (Cleverly, Song, & Cleverly). The Allen Pavilion of NY Presbyterian Hospital (NYPH) is projecting that the purchase of an MRI machine for their facility will be a venture worth pursuing. The growth and demand of the small community of Inwood NY currently is transported or sent to other facilities or to the downtown campus Milstein. This increase in demand has taken over the capacity of what the Milstein campus can efficiently serve. The small community pavilion serving this neighborhood is an aging community. The majority of the patients cared for at the Allen are reimbursed via Medicare. MRI’s serve to assure better quality of care for the patients and is an important advanced technology that is needed for this aging population whom is informed and demand quality healthcare services. The patients cared for at the Allen Pavilion currently have to be sent downtown for MRI’s via cab, ambulance, and at the cost of the hospital. Goals, Objectives & Mission New York-Presbyterian Hospital is committed to excellence in patient care, research, education and community service. To meet the objectives and goals of the hospital mission, NYPH MRI purchase for the Allen Pavilion will benefit the organization and community. Allen Pavilion presently has to discharge their patients to follow up with MRI imaging or have to transport them to the downtown campus (Milstein campus). MRI diagnostics can be lifesaving in many cases and would increase quality of care, support research and education and serve the community more efficiently and cost effectively. Strategically, the MRI diagnostic’s is the vision of the future to assure faster and accurate diagnoses. Early diagnosis leads to
HCS/571
November 26, 2012
Capital Budget Project
Introduction The amount of money that can be borrowed has many entities and factors that influence the capital budget of the hospital (Cleverly, Song, & Cleverly). The Allen Pavilion of NY Presbyterian Hospital (NYPH) is projecting that the purchase of an MRI machine for their facility will be a venture worth pursuing. The growth and demand of the small community of Inwood NY currently is transported or sent to other facilities or to the downtown campus Milstein. This increase in demand has taken over the capacity of what the Milstein campus can efficiently serve. The small community pavilion serving this neighborhood is an aging community. The majority of the patients cared for at the Allen are reimbursed via Medicare. MRI’s serve to assure better quality of care for the patients and is an important advanced technology that is needed for this aging population whom is informed and demand quality healthcare services. The patients cared for at the Allen Pavilion currently have to be sent downtown for MRI’s via cab, ambulance, and at the cost of the hospital. Goals, Objectives & Mission New York-Presbyterian Hospital is committed to excellence in patient care, research, education and community service. To meet the objectives and goals of the hospital mission, NYPH MRI purchase for the Allen Pavilion will benefit the organization and community. Allen Pavilion presently has to discharge their patients to follow up with MRI imaging or have to transport them to the downtown campus (Milstein campus). MRI diagnostics can be lifesaving in many cases and would increase quality of care, support research and education and serve the community more efficiently and cost effectively. Strategically, the MRI diagnostic’s is the vision of the future to assure faster and accurate diagnoses. Early diagnosis leads to
References: Finkler, S., Kovner, C., & Jones, C. (2007). Financial Management for Nurse Managers and Executives (3rd ed.). St. Louis, MO: Saunders Elsevier. Cleverly, W. O., Song, P. H., & Cleverly, J. O. (2011). Essentials of health care finance (7th ed.). Sudbury, MA: Jones and Bartlett Learning.