Sensitivity analysis is a technique used to determine how different values of an independent variable will influence a particular dependent variable under a given set of assumptions. The presentation describes elements that affect health care staffing at Patton-Fuller, such as raises in wages and changes in the nurse-to-patient ratio. Sensitivity Analysis, Health Care Case Study In accordance to the statement of revenues and expenses of the health facility, financial ratios are on the decrease. This implies that a pay rise to staff would actually lead to a decrease in net income. The financial report of year 2008 and 2009, show that there has been an increase in expenses by a margin of 10%. In order to overcome this challenge, Patton-Fuller community hospital need to work on expanding the sources of revenues (Patton hospital) Patton-fuller Community Health Facility should consider using electronic health records which provides clinical decision support, physician order entry, captures and queries information relevant to health care quality. They should also exchange electronic health information with, and integrate such information from other sources (Healthcare Financial Management, 2007). Implementing the use of Electronic Health Records (HER) would lead to accurate payments during new procedures, fewer rejected and improper claims, improved disease management and better understanding of health conditions and heath care outcomes (Jaynelle, 2009). Another implication would be the staffing of the community hospital. This would imply an increase in expenses. If the facility were to forego one of the two crucial matters, then staffing of the facility would suffer. A reduction in staff members would lead to a decrease in expenditure but negatively affect nurse-to-patient ratio. The Government is proposing for staffing ratios to be legislated, which will have a positive impact on the nurse but the Panton-Fuller health facility will now have to be prepared for a financing uncertainty (Jaynelle, 2009). The patients’ insurance costs and patient fee charged increases proportionally. In addition, they can try to work on low interest rates and reducing the non-cash expenses that lead to depreciation. Patton-Fuller hospital needs to embrace technology to cut costs. It is clear that, Platton-Fuller health facility suffers poor revenue collection in accordance to the financial statement of 2009. This reflects to less income that used to increase the number of staff. This also harbors the nurse-to-patient ratio. In the current situation, the number of staff in the facility is small (Patton hospital). Poor capital planning is an obstacle in staffing of the community health facility.
Adding a new floor to Shouldice’s current facility will increase the number of available beds by 45. This could be easily controlled as well as it will certainly help Shouldice to maintain their quality. An addition of a new floor such as this would increase Shouldice’s total capacity, causing a need for more surgeons, as well as staff, thus increasing costs. The construction of the floor alone involves a significant investments and considerable time. Construction will also cause a disruption to the quality and atmosphere of the hospital. Therefore, the plant has limited flexibility.
In addition to this business plan, we must also address the financial issues plaguing this organization. To illustrate some of these issues lets look at some of the trends here at OCB and within our Industry: For example, OCB’s clinic operations profitability in 1990 was 60%, and now in 1996 our profitability is only 37%, which is down 23 percentage points! We can blame some of this on rising costs of overhead, consumables, etc, however this is happening as the industry as a whole is growing 5% annually, and as our customer base, largely senior citizens, population is growing at almost 1% as year. We should be capitalizing on these industry trends, however, as you all know, not all the trends work in our favor. For example, our lifeblood, the Insurance company’s managed care organizations, and government healthcare reimbursement programs shows a downward trend of allowable payments for our services (DRGs) For example in 1995 the DRG price of ...
...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.
The revenue of the healthcare industry unlike any other depends on the inpatient occupancy or ALOS(average length of stay), the volume of outpatient visits and procedures, the services ordered for the inpatients and outpatient. For CHS the majority of its revenue comes from Managed care and other insurers ( apart from govt. insurance) with 54.5%, after which comes the gover...
The success of the hospital comes from strategies that have been mentions ideally to moves the organization toward achieving its mission and vision; however, in order for the organization to achieve such success requires the leader to establish a final strategic thinking to allocate to the four previous strategies that was made and align orderly. Craig Hospital has an outstanding mission and vision with highly advance research and variety of rehab programs to assist patients in recovering which are the direction and adaptive strategies. However, the hospital heavily depend on charitable fund which can cause no limits to programs and financial issues; in this case it is market entry and competitive strategies that are the weaknesses in the
For years now, the healthcare system in the United States have managed patient’s health records through paper charting, this has since changed for the better with the introduction of an electronic medical record (EMR) system. This type of system has helped healthcare providers, hospitals and other ambulatory institutions extract data from a patient’s chart to help expedite clinical diagnosis and providing necessary care. Although this form of technology shows great promise, studies have shown that this system is just a foundation to the next evolution of health technology. The transformation of EMR to electronic heath record system (EHR) is the ultimate goal of the federal government.
Buchbinder, S.B., Shanks. N. (2007). Introduction to healthcare management. Sudbury, Mass: Jones and Bartlett Publishers Inc.
Hospital A before the merger was a for-profit hospital, relatively new facility, in east side of town. It consisted of 110 hospital beds, 8 of which were reserved for transitional care. Services provided were: general surgery and same day surgery, full-service rehabilitation department and radiology department. Other services included kidney dialysis center, on-site retail pharmacy, blood bank, women’s center e...
The purpose of this paper is to discuss how Electronic Medical Records (EMR), affects healthcare delivery. I will discuss the positives and negatives this issue has on healthcare and how it effects the cost and quality for healthcare services. In addition, I will identify any potential trade-offs to cost or quality. Lastly, I will discuss how the EMR affects my job as well as any challenges or opportunities this issue presents.
Currently, we use the electronic health record system called Computer Programs and Systems, Inc. (CPSI). CPSI is “a l...
The nurse executive and team need to set realistic budgetary goals for subsistence when establishing a new unit. For the new unit to be successful financial staffs efficiency is essential in providing a high level of care. Generating a budget assist in detection of problems in the financial statement, delineating areas of improvement and concomitantly allow administrators to uphold and emphasize of excellence. The ultimate goal in meeting guidelines for the nurse executive and team for the JRU is to establish a collaborative approach, while investing the units in staying within the budget to produce a positive outcome.
This paper will identify the use of Electronic Health Records and how nursing plays an important role. Emerging in the early 2000’s, utilizing Electronic Health Records have quickly become a part of normal practice. An EHR could help prevent dangerous medical mistakes, decrease in medical costs, and an overall improvement in medical care. Patients are often taking multiple medications, forget to mention important procedures/diagnoses to providers, and at times fail to follow up with providers. Maintaining an EHR could help tack data, identify patients who are due for preventative screenings and visits, monitor VS, & improve overall quality of care in a practice. Nurse informaticists play an important role in the adaptation, utilization, and functionality of an EHR. The impact the EHR could have on a general population is invaluable; therefore, it needs special attention from a trained professional.
After analyzing the Coastal Medical Center, it is apparent that the employees and staff have no conception of the mission, vision, and values of this health care facility. In addition to this lack of structure, CMC has many projects in the midst of production that lack support of a common goal, employees are unsatisfied with their jobs, the two boards lack ability to agree on strategic decisions for the organization,, and the medical center has a dismal reputation when it comes to quality care.
Sensitivity analysis is very useful when attempting to determine the impact the actual outcome of a particular variable will have if it differs from what was previously assumed..
The purpose of the Electronic Health Record is to provide a comprehensive, standardized and universal digital version of a patient 's health records. The availability of a patient 's digital health record provides health information and data for critical thinking and evidence based decision-making, aggregates patient data for quality assurance and research. The Electronic Health Record has been, "identified as a strategy for effectively and efficiently coordinating and maintaining documentation of patients health histories and as a secure method of providing more informed clinical decision making" (MNA, 2006).