Simulation Review Paper
Simulation review paper
Cecilia McDaniel
HCS 405
May 04, 2011
LaDonna Latney Battle
Simulation review paper * Cecilia McDaniel will discuss some financial accounting options for the Elijah Heart Center through a working capital shortage, and evaluate some funding options for acquiring medical equipment, and capital expansion. * Cecilia McDaniel goal is to decide the most effective strategy to solve the cash flow situation at Elijah Heart Center. However, the two major factors put in place to achieve an effective cost-savings plan of $750,000 in the first quarter. * Cecilia McDaniel also gives a choice of two option plans to cover the shortfall, and propose the best decision following the analyzing impact on the cash flow statements of the hospital. * The significance of cost reduction for the hospital is Reducing Proportion of Agency Contract Staffing. However, Cecilia McDaniel have in mind the options for the Revenue Expenditure Projections that states the strategy is decreasing with no significant reduction. * Furthermore, the Elijah Heart Center can save on premiums paid to the staffing agencies, and management fees through reducing contract nurses and personnel. * In addition, the hospital staff and the temporary personnel cannot be compared because he or she is engaging in the patient care. However, this plan is a cost saving option because the contract personnel is double, and measure up to the hospitals employees. * Cecilia McDaniel proposes changing the skill mix through employing a non-licensed staff and the revenue, and expenditure projection. This option indicates the increase in cost in the early stages. * However, the revenue also increases for months after the plan is in place. Some non- licensed assistive personnel consist of nursing assistants, and personal care technicians. * Most often these individuals has 40 hours less of the hospital training because these individuals help the
Cecilia McDaniel
HCS 405
May 04, 2011
LaDonna Latney Battle
Simulation review paper * Cecilia McDaniel will discuss some financial accounting options for the Elijah Heart Center through a working capital shortage, and evaluate some funding options for acquiring medical equipment, and capital expansion. * Cecilia McDaniel goal is to decide the most effective strategy to solve the cash flow situation at Elijah Heart Center. However, the two major factors put in place to achieve an effective cost-savings plan of $750,000 in the first quarter. * Cecilia McDaniel also gives a choice of two option plans to cover the shortfall, and propose the best decision following the analyzing impact on the cash flow statements of the hospital. * The significance of cost reduction for the hospital is Reducing Proportion of Agency Contract Staffing. However, Cecilia McDaniel have in mind the options for the Revenue Expenditure Projections that states the strategy is decreasing with no significant reduction. * Furthermore, the Elijah Heart Center can save on premiums paid to the staffing agencies, and management fees through reducing contract nurses and personnel. * In addition, the hospital staff and the temporary personnel cannot be compared because he or she is engaging in the patient care. However, this plan is a cost saving option because the contract personnel is double, and measure up to the hospitals employees. * Cecilia McDaniel proposes changing the skill mix through employing a non-licensed staff and the revenue, and expenditure projection. This option indicates the increase in cost in the early stages. * However, the revenue also increases for months after the plan is in place. Some non- licensed assistive personnel consist of nursing assistants, and personal care technicians. * Most often these individuals has 40 hours less of the hospital training because these individuals help the
References: * University of Phoenix.(2011). Elijah Heart Center, [Computer Software]. Retrieved from the University of Phoenix, Simulation, HCS405 website *