Simulation Review
Simulation Review
HCS / 405
Midnight Fultz- Student
David Catoe- Instructor
November 11, 2014
The Elijah Heart Center needs to make changes on cost-cutting, funding options for equipment, and funding options for capital expansion. Doing this simulation review it will show just how to go about making these changes to save money. I will explain as to why I choose what I did in this paper.
The cost-cutting options I choose were changing the skill max and reducing agency staff. The reason as to why I choose changing the skill max is to allow the nurses to focus upon their more important tasks. Nurses do not need to be doing what another individual is capable of doing those people that do not have skills. Such as answering phones, faxing documents, scheduling appointments, and so on. Receptionists are mostly unskilled and do not require a lot of training, except hands on through the office training. The nurses and other skilled professionals need to focus more on the importance of their jobs by taking care of patients. Those who are unskilled do not expect to be paid like a skilled person; with this option it is saving money for the hospital. The second option I choose was to reduce agency staff that is contracted. It is stated in the cost cutting options menu that the agency staff salaries are double of what other staff in the hospital are getting paid. There is only a need for a few agency staff in the hospital. It would allow other people to have hospital jobs which are cheaper since they are not getting the doubled salary. Whenever a contracted worker is hired for any job they understand that the job is not permanent so at any time they can be laid off. The loan option I chose was option 1. To me this was the best way to save money on interest. This loan option was for $1,500,000 for a 12 month term and having an interest rate of 9.45%. There was no prepayment limitation which was good since it went strictly to interest getting paid off
HCS / 405
Midnight Fultz- Student
David Catoe- Instructor
November 11, 2014
The Elijah Heart Center needs to make changes on cost-cutting, funding options for equipment, and funding options for capital expansion. Doing this simulation review it will show just how to go about making these changes to save money. I will explain as to why I choose what I did in this paper.
The cost-cutting options I choose were changing the skill max and reducing agency staff. The reason as to why I choose changing the skill max is to allow the nurses to focus upon their more important tasks. Nurses do not need to be doing what another individual is capable of doing those people that do not have skills. Such as answering phones, faxing documents, scheduling appointments, and so on. Receptionists are mostly unskilled and do not require a lot of training, except hands on through the office training. The nurses and other skilled professionals need to focus more on the importance of their jobs by taking care of patients. Those who are unskilled do not expect to be paid like a skilled person; with this option it is saving money for the hospital. The second option I choose was to reduce agency staff that is contracted. It is stated in the cost cutting options menu that the agency staff salaries are double of what other staff in the hospital are getting paid. There is only a need for a few agency staff in the hospital. It would allow other people to have hospital jobs which are cheaper since they are not getting the doubled salary. Whenever a contracted worker is hired for any job they understand that the job is not permanent so at any time they can be laid off. The loan option I chose was option 1. To me this was the best way to save money on interest. This loan option was for $1,500,000 for a 12 month term and having an interest rate of 9.45%. There was no prepayment limitation which was good since it went strictly to interest getting paid off