Hospital Trends 1. How is the current economic environment affecting hospitals? According to the article, “The Economic Downturn and Its Impact on Hospitals”, the current economic environment is affecting hospitals and other heath care facilities in a number of ways. The most common issue relates to inability of the hospitals to obtain and secure relevant financing that enables health institutions to meet their daily obligations. Since most payments in hospitals lags behind the amount expected to deliver health care, most of the times hospitals are forced to borrow funds from financial institutions to meet their operating expenses. With this issue of economic downturn, borrowing funds from financial institutions has become very difficult, and the little loans obtained have become very expensive to repay (TREADWATCH, 2009). Another effect include the problem of increased number of patients under the government Medicaid program, the uninsured, and the underinsured .The crisis made many people lose their jobs hence limiting the amount of money payable to medical insurance companies, which on the other hand reduce the amount payable to the hospitals. Another effect includes loss of jobs to both health specialists and low cadre staff, which has been attributed to increased uncertainty of when the current situation will improve (Jimmy, 2000). Many opponents of the recession claim that many health practitioners in the end might quit their medical practices rather than agree to receive reduced reimbursements from the government Medicare programs. 2. What changes in goals and strategy are hospitals likely to employ in the current environment? Given the effects and seriousness of this situation, hospitals need to be very conv... ... middle of paper ... ...unity relates to the idea of health institutions engaging in other money generating projects. Conclusion After analyzing all the above issues about recession in health care sector, I am contented that health care reforms are very much needed and they require the support of the people because they are the ones’ who pay taxes and should be effectively addressed by providing them with good health services. Works Cited Jimmy, K. (2000). ‘Health care reforms after Recession.’ American Psychiatric Association, 3(2), 23-65. TREADWATCH. (2009). The Economic Downturn and Its Impact on Hospitals (pdf). Retrieved from http://www.aha.org/aha/research-and-trends/index.html Primer, A. (2007). ‘Medicare.’ Journal of Health, 2(7), 12-27. Retrieved from
...t them attain the services easily and at lower costs. In addition, these hospitals have the potential of managing effectively their cash flow. A fixed and proper payment system to the workers of the small health centers can m motivates them to avail quality services to the medical beneficiaries. Small hospitals can be able to have bonus payment in case they provide care in areas short of professional health. Hence, small hospital can implicate appropriately their method of payment. Conversely, there might be a risk possibility when it comes to accessing low amount due to the nature of the illness of the patients, the involvement of high cost of treatment amongst many other factors. In the vent that the overall health care costs are more than earlier anticipated, the hospital and the doctor shall receive less profits. This can have a negative impact on the hospital.
All in all, for EMC to survive in a competitive environment the administrative staff at the hospital will need to re-evaluate the services they want to offer and what population demographics it will serve to better their organization.
Determined healthcare systems routinely examine their environments internally and externally to locate significant trends and forces in the present and for the future which will have an effect on their performance goals and mission efforts. These healthcare systems understand who their stakeholders are, their needs and how best to meet those expectations and needs. These systems give attention to specific efforts on accomplishing goals that acquire opportunities in the whole environment while they continue to adjust their internal structures and functions. Precise aims are dealt with by uninterrupted sequences for performance improvements. Strategic directions for systems originate from the mission and directives. Strategic directions are identified by observing key stakeholders, addressing their interests and being proactive about responding to current, as well as, future shifts and trends in the systems’ entire environment (Skinner, 2001).
...he operating margin, cash on hand, and days in accounts receivable as these have been major factors. The new system being put in place for the materials management system should be closely monitored, as it will determine the adaptability of the department. The reformation of the Governing Board can be justified through the successes or failures it creates while going through the restructuring process. It will be important to get feedback from employees and the CEO to see if conflicts arise. The new physical therapy center will continue to be monitored to see if revenues are as high as thought with the expansion of this facility. Overall, it will continue to be a process of monitoring, reevaluating, and gathering appropriate data to determine if the strategic plan being implemented is continuously seeking the values, mission, and vision of the Coastal Medical Center.
Hino, R. (2013, September 25). Hospital Strategic Plans Must Go Beyond the Status Quo. Retrieved from http://www.hospitalimpact.org/index.php/2013/09/25/p4358
For the last five years of my life I have worked in the healthcare industry. One of the biggest issues plaguing our nation today has been the ever rising cost of health care. If we don't get costs under control, we risk losing the entire system, as well as potentially crippling our economy. For the sake of our future, we must find a way to lower the cost of health care in this nation.
Healthcare has been a topic of discussion with the majority of the country. Issues with insurance coverage, rising costs, limited options to gain coverage, and the quality of healthcare have become concerns for law makers, healthcare providers and the general public. Some of those concerns were alleviated with the passing of the Affordable Care Act, but new concerns have developed with problems that have occurred in the implementation of the new law. The main concerns of the country are if the Affordable Care Act will be able to overcome the issues that plagued the old healthcare system, the cost of the program, and how will the new law affect the quality of the health delivery system.
A strategic planning process is developed from a SWOT analysis (Harrison, 2010). When a nurse begins to plan strategically, this entails organization, adjustment and management to strengthen operations within the healthcare organization (Nelson-Brantley & Ford, 2017). Due to an ever-changing environment within a health
Foster’s report also said that about 14 million people would lose their employer coverage by 2019, due to small employers terminating coverage and workers who currently have employer coverage enrolling in Medicaid. . CMS also reports Medicare cuts may not be realistic and sustainable, causing 15 percent of all hospitals, nursing homes and similar providers into the red within 10 years. Yet according to Beland and Waddan, the premises will increase only growth by the three quarters of the rate at which it could have grown in the absence of the
...opment is a good way to define the upcoming changes for a company from within. The first goal will pertain to the efforts of expanding the culture from inside Mayo Clinic, due to the high number of diversity seen, culture is a key goal that should integrated into play. The second goal will be used in organizational development in terms of teamwork. By the 1940s, behavioral scientists in the United States already were recognizing the value of teamwork according to Wesner (2010). “Teamwork and teambuilding are considered effective ways to improve organizational performance and development” (Wesner, 2010, p. 42). Finally the third goal is to help promote the medical school that is here located at Mayo Clinic. Since there is a threat of losing the expertise that is currently offered the organizational development and strategically planning should be driven by this fear.
...mplications that allow for opportunities of change. One of the presumptions is for training and staffing (Shi & Singh, 2012). With the utilization of health care improvements, the staff will need additional instructions on the performance of equipment and how to efficiently achieve the desired results. Managers or supervisors recognize the need for supplemental staffing and training to optimize patient satisfaction and quality of care. The health care administrator must also focus on changes in insurance policies and rules governing the provision of medical assistance (Shi & Singh, 2012).
According to Roy, 2013 the issues of providing the affordable care act will unite both the supporters and offenders of the public policy, but in this current situation where the input costs are rising, it will become impossible for government in managing the public policy related to affordable health care. In order to provide affordable health care, majority of the US government has tried out different policies time to time, but unable to get success in realizing the actual policy goals. By providing the affordable health care to majority of the people who requires more amount as controlling the input cost is not possible (AAMC, 2013). Lack of doctors is one of the primary issue in providing high quality health care to the citizens especially those who are financially poor. The Supreme Court of the country passed an Act related to Health insurance as all should have Health Insurance to all the country people by the year 2014, but the at the same time government is concerned about constitutionality of these act (NYTimes, 2013).
Organizations use financial statements and ratio analysis assess financial performance viability. The ratio analysis are used to identify trends and to perform organizational comparison (financial) with other companies within same industry. Ratio analysis, using data reported on the financial statements, are divided into five major categories: common size, liquidity, solvency, efficiency, and profitability. This paper will assess the financial stability of John Hopkins Hospital (JHH) using the five ratio analysis.
...ntinually evolve, a certain degree of freedom must be felt by its members, bureaucracy represents and organization from which chaos has completely been eliminated. Nurse Executives, therefore, will need to encourage staff to challenge existing practice. Given the current environment, creative conflict will need to be supported in order for our continued growth.” (McGuire, 1999, p. 9) I believe that Capital Health is on a path for success. They have modernized there organization chart causing a more decentralized environment. This new atmosphere fosters empowerment of its nursing staff. This sense of ownership over their practice provides growth not only for individual nurse, but the entire profession. This positive proactive change of the organizational structure will allow the hospital to experience continued growth and development that is propelled from within.
Hospitals are a necessary part of every individual's life. When one thinks of hospitals, help comes to mind (Hospitals Struggle to Keep Their Promises). Neither a person's age, ethnicity, nor economic background should matter when it relates to access to healthcare. Everyone will need hospital care at one point in their lives, no matter how healthy one may think he or she is. That is the reality. Unfortunately, many of these organizations are in danger. "Hospitals are experiencing a period of financial duress unprecedented in recent history. The number of hospitals that have closed their doors is at an all-time high, and many more might close within the next few years" (Moore et al, 1999). It is ironic to think that the institutions such as Faith Community Hospital that provide healthcare and even save lives, face severe problems. Problems that must be addressed early to avoid jeopardizing an individual's access to healthcare should those same problems lead to the hospital's demise.