“Representing over 20 percent of the U.S. Gross Domestic Product and accounting for approximately $1.5 trillion in revenue, health care is the single largest industry in the U.S. today.” (University of Phoenix, 2015). However, it is a vulnerable industry. The facility we are looking at is in New York, where the third highest losses in the country occur because of numerous problems dealing with Medicare and Medicaid reimbursements, cuts in funding, and pressures for discounted managed care, amongst
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loan couldn’t be paid back before six months. Next, I had to make a decision on whether to purchase new, refurbished, a capital lease, or operating lease hospital equipment. The equipment needed was an X-Ray machine, high speed CT scanner, and an ultrasound system. I decided to purchase a refurbished high speed CT scanner, a new X-Ray machine, and do a operating lease on the
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Simulation Review By: Jessie Vest HCS/405 11/21/2011 For this assignment we had to review the Analyzing Financial Indicators for Decision Making. I had to look at three different phases of the simulation review. During each phases there was different categories that I had to look into. So to begin things off I will be first talking about the first phase of the simulation review. During the first phase they ask which cost-cutting options did I select and why I selected them? The
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[pic] Credit Application Form |Prepared by FAM (Name): Tarun Makhija |Date Prepared: 18.04.2012 | |BUSINESS INFORMATION | |Existing Customer: Yes No |Phoenix Customer No.:
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Simulation Review Amber Gosney HCS/405 February 11, 2013 Paul Herskovitz Simulation Review This paper provides information regarding a simulation review that was intended to show how a hospital determines revenue and expenditures. The information was based on the Elijah Heart Center (EHC), and all decision was made with careful analysis of EHC employees, along with me. Capital Shortage In the simulation activity I chose two types of cost-cutting options. The first
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Simulation Review Craig W. Pasanen HSC/405 April 16, 2013 Todd Brown Phase 1: Capital Shortage Elijah Heart Center (EHC) is a 140 bed facility that specializes in cardiac care, located in New York. It has fallen on hard times even though patient volume and profits are increasing quickly, however the profit margin is falling. The Chief Executive Office of ECH would like to reduce cost by $900,000 in one year. The author of this paper would recommend a few possible way of
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quarter the hospital will save $811,249. During phase II the selections I chose was to purchase a refurbished high speed CT scanner, to have a capital lease on an X-ray machine, and a operating lease on an ultrasound machine. “When it comes to acquiring the medical equipment and supplies you need to run your practice, is it best to buy or lease? It’s an important decision for
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Simulation Review HCS/405 October 15, 2012 Simulation Review: Elijah Heart Center Healthcare can be considered one of the most profitable industries around today. This potential for revenue has made it very important to have a financial team that fully understands the workings of a healthcare organization. There are so many areas that can easily go wrong if the wrong financial decisions are made. Using the simulation helped one to understand the different outcomes possible
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The Elijah Heart Center needs to make changes on cost-cutting, funding options for equipment, and funding options for capital expansion. Doing this simulation review it will show just how to go about making these changes to save money. I will explain as to why I choose what I did in this paper. The cost-cutting options I choose were changing the skill max and reducing agency staff. The reason as to why I choose changing the skill max is to allow the nurses to focus upon their more important tasks
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MEMO To: Management Team From: Jacques Lamoureux, CGA, Date: ------------------------------------------------- Re: CRM system, draft financial statements, operational initiatives, and other issues The purpose of this memo is to discuss the operational initiatives and related risks, the draft financial statements, the CRM system and other issues that have arisen over the past year. Homes sales and other operational initiatives Further analysis needs to be done to determine the feasibility
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