...Section 1 of the Capital Project Lori Winter HCS/571 July 29, 2013 Ralph Gigliotti Section 1 of the Capital Project St. Anthony’s Memorial Hospital, an affiliate of Hospital Sisters Health System is a fully accredited not-for-profit acute care health facility with 146 licensed beds. It has been decided that a capital expenditure of sixty new in-patient beds is important for patient safety and comfort. “A capital expenditure is a commitment of resources that is expected to provide benefits during a reasonably long period, at least two or more years,” (Cleverly & Cameron, 2007, p. 397). The cost of the new Stryker beds will be approximately $646,381.36. This cost will include bed software training, 1 year parts, labor & travel of bed service cost, and Isogel Air mattress. This student will discuss how the purchase of Stryker beds supports the organizational goals, management goals, and enhance the economic environment of the organization. The Management Goal The management goal is risk management. Risk management is problem focused, a component of quality management. The goal of risk management is to identify, analyze, and evaluate risks, and then develop the plan to reduce the frequency and severity of accidents and injuries. A review of the current patient bed revealed, outdated mattress, lack of bed alarms on patient movement, and limited patient bed controls for communication with staff. An intensive review of current incident reports revealed...
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...Capital Project – Practice Management System Amy Guerber HCS/571 August 30, 2015 Professor Linda Roan Practice Management System In medical practices, the investment in a practice management system is necessary to effectively manage the operations of all departments. A typical practice management system captures billing data, patient demographic information, strategic reports, and appointment scheduling. The HITECH Act of 2009 requires that patient demographics, as well as disease data, are collected and reported to federal and state health agencies in electronic format (CDC, 2012). As a result, our practice has made the decision to invest in the purchase and implementation of the Greenway Health practice management system. The purpose of this paper is to provide background on the system, identify the management and organizational goals for selecting this system, the benefits to the organization, and the justification for this capital investment. Greenway Health Practice Management As a web-based application, the Greenway Practice Management system has been selected as the preferred solution because of its ability to verify benefits eligibility for patients, manage patient scheduling and patient billing. The application will streamline the billing process for the multiple office locations in our practice, allowing for centralized management. A primary feature of the Greenway Health Practice Management system is its...
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...Bladder Scanner Capital Project Maria M. Arias HCS 571 February 20, 2012 Katie Ianoci Bladder Scanner Capital Project Organization’s capital budgeting contains a cost benefit evaluation of investments projects. The process of capital budgeting is an important step in the execution of the strategic plan. During the process of completing a capital budget and deciding which projects to approve, the organization explores and develops the financial forecasts. “Hospital executives are responsible for facilitating the provision of efficient, high quality health care with limited resource” (Kocher, 2007, p. 21). The decisions made on investments need to be balanced with the organization’s mission and the available financial resources. Also, the capital budgeting decisions need to include: facility need, government regulation, employee safety, patient safety, and financial benefit to the organization. The current organization is a non-for-profit organization that serves many patients with different backgrounds and cultures. The organization is a hospital that is magnet certified and strives to surpass the recommended levels in health care regulatory outcomes such as core measures, patient satisfaction, never events, employee satisfaction, and many other outcomes. Because the organization prides itself in being the best, it is important to attempt to find methods to improve the care provided to the patients. A improvement identified by the staff in a medical surgical...
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...cannot identify the financial condition, and so multiple financial indicators are necessary to analyze and modify the necessary adjustments to improve solvency, profit, and services for the organization and patient(s). The objective of this essay is to discuss the decisions attained in the simulation of Elijah Heart Center, which is a specialty hospital with expertise in cardiac catherization, pulmonology, and nephrology and a host of other specialties. The three major decision made for the Elijah Heart Center was through bridging a working capital shortage, evaluation of funding options for obtaining medical equipment and funding options for capital expansion. The decisions made through various choices to improve the outcome of each financial situation; the choices could have either improved or worsened the unhealthy trend of loss profitability for the health care organization. Capital Shortage Capital shortage a major financial issue at Elijah Heart Center was the first issue that required improvement. The simulation put forward two financing options and five appropriate economizing methods to improve the capital shortage within Elijah Heart Center. The two appropriate economizing methods choose to improve the capital shortage were reducing benefits and...
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... September 2, 2013 Elijah Heart Center (EHC) is a healthcare organization that focuses on patients with heart problems. This 140 bed cardiac care hospital located in New York function as an advanced coronary care center, 120,000 square feet cardiac catheterization labs, surgical suits for open heart surgery, ancillary equipment for radiology, labs, nephrology, pulmonology and service for full spectrum of cardiovascular patients. There is also a full range of outpatient cardiac diagnostic services and rehab programs for patients recovering from heart attacks, open heart surgery, and coronary angioplasty. Although the organization is having some financial problems the patient volume is stable and increasing. As the senior financial consultant I will be working to get things financially under control, I will present a few plans for short and long term goals. I will be working with a great team that includes Gilbert Sanchez, Saiku Takeuchi, Zachary Macholz, and Dr. Brenda Lopez. The Elijah Heart Center has managed to stay focused and in operation do to the satisfied patients that need the services. There is a great team that provides great patient care but there has been a lot of poor decision making in the past that is resulting in a lot of profitable problems. In May 2x03 the financial department reported facing a potential working capital shortfall. In an emergency the hospital might not have enough cash to sustain itself. There are a list of reason...
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...Capital Budget Policy and Process Vernita Davis-Knight Susan Friguglietti Edna Primas Ronald Rehn University of Phoenix-Online February 27, 2008 Capital Budget Policy and Process Capital budgeting is the process by which capital investment decisions are made. Capital can be described as an organization’s operating assets (Diamond, Hanson &, Murphy, 1994). The capital budgeting process includes "planning, setting goals and priorities, arranging financing, and identifying criteria for making long-term investments" (Diamond et al., 1994, p. 463). Previously, capital budgets were known as plant and equipment budgets (Berman, Kukla &, Weeks, 1994). As the previous term implies, most capital expenditures are long-term investments for plant or equipment investments. Most, if not all, organizations have limited financial resources and must decide how to invest the financial resources for the best advantage of the organization. Capital investment decisions have a significant impact on the organization since large amounts of the organization’s resources are at risk for extended periods of time. This makes capital budgeting one of the most important decision making opportunities an organization can undertake (Diamond et al., 1994). There are two basic types of capital budgeting projects, independent projects and mutually exclusive projects. The independent project does not affect the cash flow of other projects. That is, regardless of whether the project is accepted...
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...Capital Project Name: Institution: It is on record that companies and organizations in different industries invest massive resources in their specific lines of operation in order to survive in their respective industries, maintain market shares, and continue to provide quality products or services together with generating more income. Specifically, organizations in the health care sector often invest in capital projects that are aimed at attaining both managerial and organizational goals (Rechel, Wright & Edwards, 2009). In most cases, the capital projects undertaken by health care facilities take up huge percentages of their incomes or revenue because they involve purchase of expensive machinery, building projects, and advanced medical equipments. Some of the viable capital projects that health care facilities invest in include research laboratories or libraries, machinery such as CT scanners, Magnetic resonance imaging equipment and powerful X-ray machines among others. A case in point is a capital project in St. Luke’s health care center in which the management recently approved a capital investment of purchase and installation of patient records filing software is projected to change the manner in which this facility has been performing its daily operations. In this regard, this paper aims at evaluating St. Luke’s health care facility in relation to management objectives and organizational goals in addition to highlighting...
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...problem solving and decision making. Cody (2003), also states that “nursing practice will be transformed to the betterment of humankind when all nursing practice is fully autonomous and guided predominantly by nursing theory” (pg. 230). For many years nursing practice has found its foundations from nursing theories. Understanding how nursing knowledge within healthcare organizations influence patient and organizational outcomes are discussed in the middle range theory of nursing intellectual capital (Covell, 2008). Intellectual capital is defined as the combination of collective knowledge of individuals and structures in an organization or society. The theory consists of two concepts of nursing which includes human capital and nursing structural capital. According to (Covell & Sidani, 2013) “Intellectual capital theory defines human capital as the knowledge, talents and experience of employees. Human capital resides within the employee and is loaned to the organization by the employee. It leaves the organization when the employee separates from the organization”. For nursing, structural capital is the structural resources that contain nursing knowledge and are used to support registered nurses in the application of their...
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...the application of lean management practices? Describe how specific elements of that perspective relate to the interventions described in the case study. The case study in question shows many benefits of hospitals around the world adapting to lean management practices. Essentially they are looking to cut waste, and provide the most efficient care possible. The first perspective of organizational effectiveness the hospitals are utilizing is an organizational learning perspective. The hospitals have identified in their studies that several sources of capital influence their effectiveness. Specifically, human and structural capitals are being utilized to benefit the organization. “Lean works because it is based on doctors, nurses, and other staff leading the process and telling us what adds value and what doesn’t. They are the ones who know.” (McShane (2012). Organizational Behavior: Case Study 1.1. McGraw-Hill). Here, an emphasis is placed on human capital, and the knowledge, experience, and know-how hospital employees bring to the process. By bringing these individuals into the decision making process who have their hands in the work day in and day out, the outcome will be a more efficient, and smoothly running operation as evidenced by the case study. Building on the human capital used, the hospitals are also using a high performance work practice perspective. The hospital is packaging together the best use of their organizational practices to create a competitive edge. Employee...
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...A. Summary As a part of Trinity Community Hospital’s strategic plan, management intendeds on expanding their Orthopedic service line. The hospital is currently licensed at 150 beds and offers no formal orthopedic services although a few orthopedic surgeons maintain privileges at the hospital. Management has identified that its competition offers strong orthopedic services and are 10 miles or less away from Trinity Community. Most of the orthopedic groups are located close to these hospitals, which makes it convenient to perform procedures at the competition's location. Additionally, several orthopedic practices are planning to expand to offices near Trinity Community. The expansion of services requires Trinity Community Hospital to build, purchase, or lease a 5000 square foot facility for physical therapy. This facility would be in support of the orthopedic services and located adjacent to or on the hospital campus. The expansion of services would have the following five-year targeted outcomes: 1) Quality and Safety •CMS orthopedic indicator set >90th percentile •Pre/post procedure class attendance >75% 2) Service Excellence •Likelihood of recommending >90th percentile •Physician satisfaction >90th percentile 3)Staff Achievement •Orthopedic nursing staff certification >75% •Orthopedic staff retention rate >90% 4)Growth and Profitability •Surgical cases—2100 •Physical therapy visits—6,500 •Margin—$2,171,500 It has been...
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...creating a weight management package and instilling a more empathetic approach in their treatments. The report includes the benefits of these recommendations to RMG. The benefits include allowing RMG to gain a better reputation in Singapore healthcare system, and attracting more obese patients to seek treatment in their hospital thereby leading to increased revenue. Introduction Rising obesity rates have posed a huge problem in Singapore, as obesity brings about severe health detriments. One viable method to prevent obesity is when people manage their weight effectively, through means such as controlling their calories intake and exercising (Goh & Pang, 2012). Such efforts, however, are hindered by the external factors of obesity such as lower prices of unhealthy food (Tomer, n.d). This is further aggravated by the bad behavioral patterns of individuals due to their low endowments of personal and health capital as depicted by Tomer (n.d). According to Tomer, “[Personal capital]…reflects the quality of an individual’s psychological, physical, and spiritual functioning” while “[h]ealth capital…is a stock consisting of the accumulated individual learning that contributes to his…physical health and some aspects of mental health” (n.d). These factors determine how individuals react to external causes of obesity (Tomer, n.d). As such, improving these capitals and subsequently changing the behavioral patterns of obese individuals will help manage their weight...
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...will be to review the simulation on Elijah Heart Center (EHC), and evaluate the capital shortage, the funding options given, and the funding options given for capital expansions, I will analyze the three phases of capital shortage, funding options for acquiring medical equipment, and the expansion options for the Elijah Heart Center. Focusing on the goals of the hospital, but for the long and short term goals set for EHC. “Built to function as an advanced coronary care unit, Elijah Heart Center (EHC) is a 140-bed cardiac care hospital, based in New York. This 120,000 square foot specialty hospital contains cardiac catheterization laboratories, surgical suites for open-heart surgery, ancillary equipment for radiology, laboratory, nephrology, pulmonology, and other services needed to provide support to the full spectrum of cardiovascular patients. EHC also provides a full range of outpatient cardiac diagnostic services and rehabilitation programs to patients recovering from heart attacks, open-heart surgery, and coronary angioplasty.” (University of Phoenix, 2011) According to Gilbert Sanchez, Chief Executive Officer there has been an increase in patients, and a drop in profits. He has given two years to create a solution to all three phases for the center, including short and long term solutions, modernizing the hospital, updating equipment, and expanding the hospital to increase amount of patients, and raise yearly profits. The two options for Phase I is finding the right...
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...Individual Learning Project 1 Liberty University Accounting for Decision Making February 14, 2016 Company Analysis and Evaluation Project A Federally Qualified Health Center (FQHC) is a health center that allows patient who might otherwise not receive the critical primary care that they may need. These types of facilities help to fill crucial access gaps, allowing patient to pay according to their income on a sliding fee scale. “Congress passed FQHC-enabling legislation as part of the Social Security Act in 1989 and the application process and requirements for federal qualifications are governed under the Public Health Service Act” (Hennessy, 2013). There are approximately 1,200 main health centers that deliver care with over 8,000 service sites all across the United States. An FQHC provides primary care services to patients within the rural areas and are located within schools across America. This special care is allowing children to receive the wellness care to help them stay and improve in school. In reflection of this type of facility, this assignment will be about Capital City Family Health Center. A FQHC center in the heart of Baton Rouge, Louisiana. Taking care of the patients that they have and also providing services to the homeless throughout the metropolitan and surroundings. SWOT “SWOT has been used comprehensively to aid in understanding a variety of decisions and issues including: manufacturing, location decisions; penetration strategy, promotions...
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...The Elijah Heart Center (EHC) is facing financial challenges that are very common in the health care industry. Despite the fact that patient volumes and revenues are growing at a fast rate, the profitability is dropping and the EHC is experiencing a shortfall. In order make well thought out financial decisions that will improve the EHC financial situation, a consultant has been brought in to evaluate and identify the best alternatives by using simulation scenarios. In this example, I will be the consultant and use the simulation address three challenges, a capital shortage, the acquisition of medical equipment, and a capital expansion. The capital shortage is $900,000.00 and the goal is the find cut cost without significantly impacting staff and the quality of service that EHC provides to its patients to remedy it within one year. The cost cutting choices presented were: Reducing employee benefits, downsizing staff, cutting down on agency staff, changing the skill mix, or reducing length of stay. I chose to reduce the agency staff and change the skill mix. Both choices slightly impact quality of patient care and staff morale while reducing cost. Reducing employee benefits and downsizing staff would have saved more money, but it would have impacted the patients due to the reduction in personnel and negatively impacted staff morale. Reducing the length of stay would not have helped much since most of the costs are incurred during the first days, not the last ones. There were...
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...**Capital Purchase Js HCS/571 April 07, 2013 R g Capital Purchase A capital expenditure is a pledge of funds that is anticipated to grant benefits during a practically extended, usually a minimum two years, sometimes longer (Cleverley & Cameron, 2007). Client Health and Rehabilitation Center a skilled nursing facility in Anywhere, NY has determined that a capital expenditure of an installation of electronic medical records (EMR) will help their facility compete with surrounding facilities. The cost will be roughly $50,000, and will consist of the hardware, labor, software, service, and education for facility staff. This paper will confer that attainment of electronic medical record hardware and software will facilitate organizational and management with facility goals based on the necessity of the facility to compete with other facilities in the area that are technically advanced. In the long run the facility will reap the rewards of the installation of this new technology. Management Goals Productivity The chief goals of the administration group at Client Health and Rehabilitation Center is that of productivity. With the organization becoming further advanced technologically owing to the use of the EMR system, responsibilities that consist of procuring doctors orders for updating, filing, and charting additional redundancies, and use many paper charts will not be necessary, thereby doing away this outdated...
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