Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Financial Risk Management / Hotel
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Financial Risk Management / Hotel
Working within the workers’ compensation (WC) structure in cost and billing is different than the Affordable Care Act (ACA) reimbursement system. Prior to taking the Healthcare Business Dynamics class, I understood the different WC medical care pay schedules according to each state; albeit, participating in the strategic planning of a business plan, I have a better understanding that Medicare, Medicaid, and group insurance is reimbursed at a lower rate causing concern that the AFA may cause financial distress on the healthcare institutions (Aldhizer & Juras, 2015). Thus, hospitals and insurance companies continue to think like a business versus a service provider because they do not want to cover pre-existing conditions or be held accountable …show more content…
Hyatt Hotels & Resorts’ purpose is “to care for people so they can be their best (Hyatt Hotels & Resorts, 2016, para.2). We value care and empathy for people in the community, and with our guests and colleagues. Hyatt’s goals in making a difference in peoples’ lives is to respect others and their environments, take ownership and put others first, listen and respond with compassion, learn and relearn, and bring joy to the workplace (Hyatt Hotels & Resorts, 2016). To support Hyatt’s purpose, risk management’s duty is to support our hotels and offices and promote a safe environment, prevent unsafe conditions, and tend to those who have been injured. However, our challenges today in the WC system is that non-catastrophic musculoskeletal work related injuries are the number one cause of disability in the United States due to failed secondary medical treatment; and, it is estimated that three percent of all compensable injury claims result in disability and receive social security benefits (Franklin et al., 2015). According to Franklin et al. (2015), primary prevention in reducing injuries is effective, but the secondary treatment does not result in positive outcomes, and when an employee is out for 3 months, the employee has a 50% likely hood of going on permanent disability. As occupational health managers we travel to different hotels and train management and employees in safety and injury prevention. The direction of the company is incorporated into our department’s goals and strategic plan (Diffenderfer, 2015). The injury care and prevention is part of our strategic plan and is developed internally within the risk department outlining the use of services and products to implement the safety and health programs, improve employee health care outcomes,
...op occupational illness prevention programs by having a written plan with specific procedures. This needs to be communicated to all employees and employees will know the hazards that exist to prevent injuries (Bernardin & Russell, 2013). The plan can involve management where they can be in charge of the program, and they can train employees on hoe to follow and report hazards to their immediate supervisor. Evaluate workplace conditions by conducting a survey on equipment, materials, machinery, and daily operations (Bernardin & Russell, 2013). Then evaluate current illness and injuries within the organization. Then develop and action plan and keep reviewing it to see if it is working. Communicate with employees and it is important that they know how the injury and illness plan works. It may be beneficial to designate someone to monitor the programs progress.
A company cannot be successful without the support from the employees. Therefore, there is a need to maintain a good moral workforce and provide different benefits to the employees. Benefit programs are essential and critical for employees especially when social security insurance does not cover short-term disability that results from a job-related accident. There are a lot of jobs with high risk where employees can get injured such as roofers, painters and electricians (Snell, Morris, & Bohlander, 2016, p.431). Employees might not feel safe or comfortable if their insurance does not cover their short-term disability. It is very important to pay close attention to those employees since there is so much at stake with with the possibility
The concept of risk management is relatively new, as hospitals look to prevent hospital-acquired infections (HAIs), falls, injuries, and other forms of preventable harm, rather than reacting once harm has already taken place. Before this concept became a best practice, most health organizations relied on malpractice and liability insurance to protect against losses and mitigate the effects of accidents and poor patient outcomes (Colorado State University-Global Campus, 2014). Today, risk management is an integral facet of a healthcare facility’s business practice in preventing risks, ensuring regulatory compliance, minimizing financial damage, and preserving its reputation in the community. Although most large
(W. Lease, personal communication, July 23, 2010), the “unknown” of the recent health care reform legislation is an external influence that is most relevant to our organization, stated by William Lease, senior vice president of clinical support services. Mr. Lease states, that health care reform legislation will impact our organization in many ways; especially after 2014. While more employees will have health insurance coverage and there will be more patients to treat; the need for controlling costs and improving efficiency is i...
• The implementation of a safe patient handling program has been shown, at one institution, to reduce workers’ compensation costs by 40% and lead to an increase in employee
Since the 60s, government budgets have been influenced by the need to finance healthcare especially the cost of Medicare and Medicaid benefits. According to CMS’ National Health Expenditure Projections , total health care expenditures have grown by an average of 2.5 percentage points faster per year than the nation‘s Gross Domestic Product. For about 60 percent of workers who receive some form of health care coverage from their employers, the cost of their health insurance premiums and out-of-pocket expenses have increased significantly faster than their own wages; and between 1999 and 2008, both average health insurance premiums and out-of-pocket costs for deductibles, co-payments for medications, and co-insura...
The steady rise of healthcare costs and the ever increasing cost of health insurance premiums are making it harder and harder for employers to pay healthcare premiums for their employees. In the past, it was almost a given that employers picked up the tab for health insurance coverage. The health coverage was usually exceptional with little or no money paid out of pocket by the individual for the insurance premiums. Those appear to be the “good old days”, with fewer and fewer employers shelling out money for health insurance premiums and demanding a larger percentage to be paid by the employee. Other employers are simply unable to financially provide healthcare coverage for their employees and have stopped all together.
The occupational health, safety and welfare Policy and the Critical incident Debriefing Policy are two federal policies that address the prevention of vicarious trauma. Research suggests that vicarious trauma is an “occupational hazard, which is an unavoidable result of undertaking working with survivors of trauma” (Perlman and Saakvitne, 1995). The Occupational health and safety act (OSHA) was introduced by congress in the early 1960’s to protect workers from being exposed to chemicals and life threatening working conditions. With the passing of the act in 1971 congress declared its intent "to ensure so far as possible every working man and woman in the nation a safe and healthy working conditions and to preserve our human resources”( Muss,1993 p. 39). With the growing number of work place stressors and the decline in work place performance, this has a great impact on the organizations revenue. Congress demanded change, therefore in 1986 , the Occupational Health and Safety Act was revised to include section nineteen. Section nineteen of ( OHSA) requires “ that all employers provide a safe working environment and this applies to all areas including the employee’s mental health and well being”(Occupational Health, S...
The end result is that everyone wants to come to work in an environment that is stress free and safe. A business needs to make a concrete commitment to the health and security of its employees. Let’s not wait until it’s too late.
Every hospital is committed to ensuring that their patients in stroke rehabilitation wards and other facilities are safe from any form of harm that may occur as a result of the health care providers’ negligence. Firstly, every hospital integrates quality and safety approaches into its everyday’s operations to promote and enhance the safety and quality of its environment and services respectively (Garban, 2011). This is usually complemented by other strategies meant for enhancing organizational knowledge to improve efficiency and overall productivity. Some hospitals provide further training to their health care personnel to ensure that they efficiently incorpor...
Falls are a big concern for all employees in a hospital setting daily. The worst thing that can happen to a patient while being hospitalized is a fall, or a major fall, that could result in skin damage (i.e. wounds, skin tears, or abrasions), a fracture or break, thus limiting their independence. This student’s goal was to develop a way to educate staff members in ways they can help reduce the number of falls that occur. Developing a sample Fall Risk Prevention Policy as well as a Staff in-service on fall risk and Prevention achieved this goal.
Organizational Assessment: The lack of skill and knowledge of caregivers in operating the hoist to move patients increases the number of patient-handling injuries. Implementation of the hoist training program for new staff will lessen the cases of injuries related to patient handling as well as the absence amongst staff (Thomas et al, 2012).
In 1919, Company founder, Conrad Hilton, purchased his first hotel in Cisco, Texas. Since that time, Hilton Worldwide has become a worldwide operator, franchisor, and licensor of hotels and timeshare properties in more than 91 countries. In nearly 100 years of existence, the Company now finds itself as one of the largest and fastest growing hospitality companies with over 4,115 properties and 678,630 rooms. With a commitment to high quality and customer satisfaction, the company has established a portfolio of 10 world-class brands including the most recognizable hotel brand in the world, the company’s flagship full-service Hilton Hotels & Resorts brand. Its premier brand portfolio includes the luxury hotel brands, Waldorf Astoria Hotels & Resorts and Conrad Hotels & Resorts, full-service hotel brands, DoubleTree by Hilton and Embassy Suites Hotels, focus-based hotel brands, Hilton Garden Inn, Hampton Inn, Homewood Suites by Hilton and Home2 Suites by Hilton, and the company’s timeshare brand, Hilton Grand Vacations. Hilton operated properties are staffed with more the 314,000 team members focused on providing a complete experience at each location. The company’s award-wining customer program, Hilton Honors, defined rewards programs in the industry and now has over 40 million members (Hilton Worldwide).
Ensuring the health and safety of employees is of primary importance to the Organization. Organization is committed to maintaining safe facilities, sponsoring appropriate training programs, and providing necessary safety equipment. In addition, Administration and staff shall cooperatively develop appropriate procedures and regulations for ensuring employees' health and safety, with special emphasis on the handling of potentially hazardous equipment or substances and for investigating and reporting any accidents and mishaps. All newly employed staff shall be required to comply with the physical examination. Every employee must provide annually, at a minimum, an updated health history of current health problems.
Accidents occur in the workplace but in secret. These most of the time lead to physical and mental injuries that might affect the worker way of living for the rest of their lives. It is estimated that more than 337 million workers get injured in their place of work or in the course of work every year leading to work-related diseases causing about 2.3 million deaths per year (United States Department of Labor, n.d.).