Capital investment decisions are among the most important decisions made by healthcare centers. The organization often determine the capacity for providing services to patient and if there is need for expansion, they commit the organizational cash towards that investment. The role of chief financial officers of the organization is always very important because he/her will reveal the capital investment strategies. Still, there is substantial variation in capital budgeting techniques, methods of risk adjustment, and the importance of qualitative considerations in investment decision making. There is also variation in delegation of investment decision making to operating units and methods of performance evaluation. Health care systems face the same challenges as other organizations in developing and implementing capital investment strategies that use consistent methods for evaluation of projects that have inconsistent aim and outcome (Smith & Wheeler, 2000)…
A strategic planning report is to explain how the use of the tool will benefit an organization in the health care industry. Discussed in the report address what the strategic planning development and implementation process is and to address why it helps organizations be successful.…
This paper discusses the elements of financial management that is important to the healthcare organizations, generally accepted accounting principles, and a summary of the articles related to healthcare financial management.…
This paper will propose how TriCity Medical Center will monitor performance, achieve regulatory and accreditation compliance, and improve overall organizational performance. It will describe ways TCMC will communicate with leadership to ensure alignment of organizational goals and gain buy-in from staff to achieve compliance with the standards and requirements issued by regulatory and accreditation bodies. Also it will determine how compliance with the regulations and development of risk- and quality-management systems for the organization contributes to the organization’s overall performance-management system.…
How does the leadership and governance of a health care organization influence the development and implementation of risk-management and quality-management policies?…
The purpose of risk management in health care organizations is to reduce risk by reducing errors, reducing accidents and injuries, and reduce financial loss if any accident or injury does occur. Risk management covers a very broad range of issues, interacts with and is effected by every activity of a health care organization. Traditionally, risk management has been focus primarily on minimizing the financial loss of a health care organization. A broadened approach is being realized in current health care organizations of prevention and quality service and increased involvement from the hospital staff.…
Strategic Planning is an essential first step in the development of a result-base accountability system,” (Schilder, 2013, p. 1). In strategic planning an organization must know their goals, missions, and how to reach them. Health care facilities are in huge demand for the elderly and for people who lives in low-income communities. A person who receives good quality health care services can prevent the spread of contagious diseases. This paper will describe the need of the community, population it is serving, and a brief description of the facility.…
Quality Oversight in Health Care Organizations. Quality of care and patient safety has become a…
Organizations across the board monitor performance in order to be profitable, and make their stakeholders happy, including healthcare organizations. The following paper will address similarities along with differences among three specific healthcare organizations; long-term care, VA hospitals, and community/public health systems. We will also discuss how each organization monitors performances, and how each organization achieves regulatory and accreditation compliance. Communication with leadership in order to align organizational goals, and compliance with regulations and development of risk and quality management systems will also be addressed.…
Health Care in the United States is a vast industry that has many different types of people involved in the delivery of care. There are stakeholders that affect the daily operations of health care and they are not necessarily in a hospital setting. The Agency for Healthcare Research and Quality, AHRQ, defines a “stakeholder” as persons or groups who have a vested interest in the clinical decision and the evidence that supports that decision ("Effective health care," 2011, p. 1). These stakeholders are making decisions that impact costs, procedures, and the future of their company. Three examples of stakeholders in the health care industry are the board of directors, the executive management team, and lenders and investors.…
Fraud, Abuse, and Waste in the US Healthcare System is a major problem. As a result of this the government is spending a greater percentage of the GDP on healthcare for Americans. The primary reason for this increase in the overall cost for healthcare is related to the increase in fraud, waste, and abuse. It is estimated that the United States spends between 15 and 25 billion dollars annually because of fraud, waste, and abuse. We will examine the [pic]types of fraud, waste, abuse, the[pic] involvement [pic]of the[pic] federal government in prevention, the roles of healthcare organizations and employees, and the protection for whistle-blowers and consequences for those involved in fraud, waste, and abuse.…
Organizational performance management is important for all types of businesses, especially in the world of medicine. Three organizational businesses we chose as a team to research and compare Town Beach Fire and rescue, The Baptist Hospital, and The Center for Disease Control, and the roles that Pharmacists play in the dispensing, and managing of prescription medication. This paper will compare the main regulatory and accreditation standards that apply to each type of organization and identify standards that apply broadly to most or all types of health care organizations. Discuss the influence of regulatory and accreditation standards on performance-management systems. Determine how the performance-management systems affect risk management and quality management in each type of organization. Identify key areas in the organization that will have direct responsibility for carrying out the everyday responsibilities associated with the regulations or standards. Describe oversight activities that could be practiced to ensure that the regulatory and accreditation requirements are being implemented and are achieving the desired results. Address the similarities and differences among the types of organizations. Propose how each organization will monitor performance, achieve regulatory and accreditation compliance, and improve overall organizational performance. Describe ways each organization will communicate with leadership to ensure alignment of organizational goals and gain buy-in from staff to achieve compliance with the standards and requirements issued by regulatory and accreditation bodies. Identify compliance with the regulations and development of risk-management and quality-management systems for each type of organization contribute to the organization management system.…
Financial management in health care is a major role for an organization. The success of an organization depends on the financial reporting practices and the ethical standards incorporated by the institution. Understanding the four elements of financial planning, generally accepted accounting practices (GAAP), and how to practice financial ethical standards to ensure accurate and fair reporting is the responsibility of the health care organization. Holding employees and management to a standard of working within these acceptable guidelines to avoid fraudulent…
The online version of this article has been published under an open access model. Users are entitled to use, reproduce, disseminate, or display the open access version of this article for non-commercial purposes provided that: the original authorship is properly and fully attributed; the Journal and Oxford University Press are attributed as the original place of publication with the correct citation details given; if an article is subsequently reproduced or disseminated not in its entirety but only in part or as a derivative work this must be clearly indicated. For commercial re-use, please contact journals.permissions@oxfordjournals.org Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine Health Policy and Planning 2008;23:308–317 doi:10.1093/heapol/czn024 ß The Author 2008; all rights reserved.…
In order to manage a suitable working culture it is important to recognize how and why the breakdown occurred and what can be done to improve the complex issues of a health care organization. Every stakeholder involved along with the organization’s employees should put their issues aside and prosper to obtain the improvement of the organization as a common objective. It is also important for staff to explore new methods to achieve accountability at the highest level and to be open minded for new innovative ideas as well as sharing them with fellow employees. A poor quality accountability process will lead to the deterioration of the organization’s decision-making process and safety policies.…