Problems Faced With Increased Cash Flow Essays

Problems Faced With Increased Cash Flow Essays

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Health care organizations, like most companies, when faced with decreased cash flow have to find ways to ensure working capital and one of the first areas they cut is continued education. It is difficult to demonstrate the collation between continued education and the cost savings to the organization (Fallon & McConnell, 2007). However, continued education is essential to the future prosperity of the facility. Companies that recognize the relationship between employee engagement, emotional well-being, ensuing they receive communication and training; thereby, demonstrate the company’s commitment to the future of its workforce (Haynes, 2012). If the companies CFO were proposing a complete cut of continued education, my proposal to maintain financial resources on the budget would highlight the following:
1) Continued Education Saves Money
Continued education will help prevent medical malpractice due to errors or unsafe practices. There has been a growing concern for unsafe medical practice, primary due to human cost and financial liability when employees fail to deliver save healthcare and these unsafe practices can cost as much as 2 billion per year, however the risk can be decreased by providing the employees education on safe practices (Mansour, 2012). The staff needs to receive continued education on medication administration, patient safety, universal precautions, etc. Continued education must be a system wide discipline to prevent errors and improve patient safety, thereby saving the facility liability due to patient errors or unsafe conditions (Mansour, 2012).

Healthcare workers recorded some of the highest injury rates in the United States costing the industry over $13.1 billion and more than $2 million in lo...

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... continued education that can be performed without encoring cost is Lunch and Learns. These are educational sessions are tailored to the individual practices lunch time. The Lunch and Learns are free to the staff and I have allowed them to select the topics covered. The staff brings their lunch and is invited to attend the educational session during their break. It is not mandatory or required, however participation has been close to 90%. Another great low cost education is group emails. However, a pre-test on the topic and follow up must be preformed to ensure the educational material was reviewed by the employee. Then it is discussed for 5-10 minutes at the next staff meeting. The goal is to provide education to the staff, demonstrate the company’s commitment, ensure safe practice standards and promote the future of the company without financial resources.

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