Differential Advantage With over 130 years of experience, Memorial Sloan-Kettering Cancer Center (MSKCC) is the world’s oldest and largest private cancer center in the United States that has dedicated resources to the treatment and research of cancer. ("About Us | Memorial Sloan Kettering Cancer Center," n.d.) Located in historic New York City, MSKCC mission is to provide leadership in the prevention, treatment, and cure of cancer through excellence, vision, and cost-effectiveness in patient care, outreach programs, research, and education. Know as the most wired and technically advanced facility, the cutting edge technology and state of the art research facilities have allowed for some of the most advanced clinical finding. The 471-inpatient
In this case, the reader learns that liquidity is a better than average. The ratio and cash on hand have been better than 2013 from the past years. Moreover, it shows that the hospital has a higher ability to meet its cash obligation because it has more security compared to other hospitals. Funding allows hospitals to control funds and limit investments. Not-for-profit organizations help provide more services and margin of safety. Therefore, creditors look for a margin of safety so that the community that financed a small portion of total financing can be returned to the owners by leveraging. Capitalization ratio measures the funds that were borrowed and the assets that have been used. The coverage ratio measures the number that time they fixed financial charges. The time's interest earned ratio shows the ability of the hospital to meet
Memorial Sloan Kettering Cancer Center (MSKCC) has impacted the world nationally and internationally for their involvement and work with cancer, science, research, and medicine. A goal of Memorial Sloan Kettering Cancer Center (MSKCC) is through extensive research and training explore new ways to treat, cure, and control cancer on a national and worldwide level. Scientist and Researchers affiliated with MSKCC take their knowledge, investigation, and research to create clinical trials, studies and new treatments for cancer nationally and worldwide which create various economic opportunities throughout the nation and world.
I attended the Saturday Lab 1 session discussing the Denison Specialty Hospital case study. In our session, we had a through discussion into the different budget terminology. I learned about the difference between accrual and cash accounting methods, which is based on the timing of when the revenue and expenses are recognized. I also learned about responsibility centers as an organizational unit under the supervision of a manager, who is responsible for its activities and results. In addition, the manager is accountable for the budget of the department that they head. Therefore, a centralized form of management in developing the budget because it makes easier to because the information for the department budget is located
Membership Services (MSD) at Kaiser Permanente used to be a modest department of sixty staff. However, over the past few years the department has doubled in size, creating minor departmental reorganization. In addition the increase of departmental staffing, several challenges became apparent. The changes included primary job function, as well as the introduction of new network system software which slowed down the processes of other departments. These departments included Claims (who pay the bills for service providers outside of the Kaiser Permanente network), and Patient Business Services (who send invoices to members for services received within Kaiser Permanente). Due to the unforeseen challenges created by the system upgrade, it was decided that MSD would process the calls for both of the affected departments. Unfortunately, this created a catastrophic event of MSD receiving numerous phone calls from upset members—who had received bills a year after the service had been provided. The average Monday call volume had risen from 1,800 to 2,600 calls per day. The average handling time for each phone call had risen as well—from an acceptable standard of 5.6 minutes to an unfavorable 7.2 minutes. The department continued to be kept inundated with these types of calls for the two years that these changes have been effect.
Springfield General Hospital (SGH) is committed to high quality healthcare for patients, and providing tools to support physicians, nurses and pharmacists. SGH leadership approved the computerized physician order entry (CPOE) system as a solution to reduce prescription errors, and the results of the CPOE project are disappointing. The data show increased prescribing errors after implementing the CPOE; resulting in increased costs for adverse drug events, rather than the planned cost reduction (Spector, 2013). This change management plan provides the SGH board of directors and executive management team pragmatic steps to increase quality for patients by assessing the root issue of hospital
General Practices Affiliates is considering an offer from Titus Lake Hospital to join under a provider leasing model. Under a provider leasing model, Titus Lake Hospital is purchasing General Practices Affiliates’ services. The practice will retain control of personnel, management, and practice policies. Titus Lake Hospital submitted financial reports to assure transparency during the lease agreement process. The following analysis will discuss whether Titus Lake hospital is a viable financial partner for General Practice Affiliates, possible implications of the lease, and recommendations.
Integrated Managed Care Organization- The organization is properly aligned for the primary driver being cost cutting services. Since all entities within the organization are responsible and affected by any expenses endured on any entity being unfavorable or favorable, the foundation serves as a primary motivator to reduce costs at all levels. This alignment eliminates any financial gains from driving high utilization of services or higher intensity services within the organization. Ultimately, this system allows the physician medical group to drive patient care, being responsible for the clinical care decisions as opposed to health plan making those decisions as designed in other organizations. This is the preferable model for Medicaid
Lexington Medical Center is located in West Columbia, South Carolina. It is in the heart of the midlands here and is the hospital that everyone knows and loves. They have a 414 bed medical complex along with 60 medical practices, 6 community medical and urgent care centers, an occupational health center, Alzheimer’s care center and the largest extended care facility in the Carolinas. These facilities are served by over 600 physicians and 1,600 nurses within the hospital network.
Grady Memorial Hospital, also simply known as Grady, is the public hospital for the city of Atlanta. It was found in 1892 and is one the largest hospitals in the state of Georgia. Grady has become known for its amazing trauma service. As the hospital website notes, they are the region’s premier level I trauma center (Grady, 2016). While Grady excels at taking care of the critically injured, it still has areas that need some work.
Moral distress occurs is defined by Jameton as, occurring when one knows the right thing to do, but institutional constraints make it nearly impossible to pursue the right course of action. Oncology nurses find themselves struggling with moral distress in an oncology unit, which is where cancer patients are cared for and educated by the nurse. An oncology nurse suffers moral distress when they know the right course of action, but feel powerless to act out the choice because of the institution or its policies, lack of resources, lack of support, or legal limits. Oncology nurses provide care over an extended period of time and often administer aggressive treatments. Oncology nurses witness the implications of life-prolonging interventions that
...al Cancer Institute." National Cancer Institute - Comprehensive Cancer Information. Web. 19 Oct. 2009. .
In 1946, a woman by the name of Mary Lasker, a member of the original ASCC, helped raise more than $4 million for the Society, where one million of it was used to establish and fund infamous cancer research (ACS Inc, 2011). Soon after, Dr. Sidney Farber, one of the Society’s first research grantees, achieved the first temporary cancer remission in a child with acute leukemia using the drug Aminopterin (ACS Inc, 2011). The ACS has been developing research theories for decades, with approximately $3.5 billion dedicated to finding a cure to cancer through research (ACS, 2011). With the ACS name nationally recognized, they were able to help fund many national, government, and hospital prevention strategies and research.
The purpose of this paper is to examine the Heritage Valley Medical Center case study. The paper will start off with a brief background of Heritage Valley, along with a summary of the major problems and issues faced there. Next, the author will explain the role that was chosen while addressing the challenges of Heritage Valley and their reasoning in doing so. The author will then identify the strengths and weaknesses of Heritage Valley and offer to select the best alternative and recommended solutions, which will be followed by a brief description of the evaluation plan that could be used to measure the effectiveness of the recommended solution.
Mayo Clinic is a hospital that is as well-known by many to be a haven of caring and concerned doctors whos’ sole focus is to give their patients the type of care they would want their families to receive if they were patients. According to Colquitt, LePine, and Wesson (Mayo Case Study, 2014), Mayo Clinic has established a customer service, patient first culture that puts the needs of those whom they serve ahead of other focuses, such as profit or patient quotas. This corporate culture has lead the hospital to become one of the most successful and iconic medical centers in the United States. Colquitt, LePine, and Wesson (Mayo Case Study, 2014) propose several very interesting questions at the end of the reading that they ask readers to ponder.