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Simulation Review Exercise

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Simulation Review

The simulation review exercise was rather interesting, to include the exercise putting me in the mindset of being in the “hot seat” so to speak as it relates to analyzing financials and making the right decisions for the betterment of an organization. I must say that is was a difficult task, one filled with an abundance of stress because my focus was to save the organization money, in which I believe that’s the focus for most organizations across the board. Although this was only a simulation exercise, I became overwhelmed with nervousness and anxiousness, and the calculated numbers started to look the same, but my focus was geared toward lowering total liabilities, and having assets in abundance. Thinking about the simulation on a larger scale, I definitely don’t want financial analysis to be part of my responsibility unless I am trained thoroughly as it relates to short cuts, in addition to key indicators to look for in efforts to enhance and streamline the process, as well as helpful hints with regard to making the right decisions. At this time I will cover Phase I of the simulation review related to Capital Shortage. The cost-cutting options I selected were Reducing Agency Staff and Reducing Length of Stay. The reason I selected Reducing Agency Staff for one of the cost-cutting options is because contract worker’s make twice the amount of a regular full-time employee, therefore equating to cost savings. On an additional note, I would also have a job fair in order to recruit full-time workers in order to replace agency staff. The second cost-cutting option I selected was Reducing Length of Stay. I selected Reducing Length of Stay because Reducing Length of Stay reduced lengthy hospital stays; with the fallback position being more beds being available for “new” and “more” patient’s causing an increase in incoming revenue. Now

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