StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

SLP 4 - Healthcare Financial Problems and Remedial Action Plans - Research Paper Example

Comments (0) Cite this document
Summary
Healthcare Financial Problems and Remedial Action Plans Name Institution Healthcare Financial Problems and Remedial Action Plans Finance is one of the key elements that ensure the survival and success of an organization. Finance is a complex process that involves identification, distribution and the use of money within an organization…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.1% of users find it useful
SLP 4 - Healthcare Financial Problems and Remedial Action Plans
Read Text Preview

Extract of sample "SLP 4 - Healthcare Financial Problems and Remedial Action Plans"

Download file to see previous pages The organization needs to develop a formal remedial plan to counter these weaknesses for it to achieve its goals and objectives. Remedial action plan Inadequacy of finances renders the organization’s efforts to produce high quality services futile. The hospital serves a large number of patients with different health needs, with the majority being poor (California Hospital Medical Center, 2012). Therefore, California Hospital Medical Center should find alternative sources of funds to finance its operations. Many non-governmental organizations provide support to health facilities across the world. The management of the hospital should approach such organizations for help. The hospital should also approach the government, through the ministry of health for support. The research center should have adequate finances to acquire facilities that will aid in its research activities. Their support will help the hospital acquire facilities that will help in offering high quality services to patients (Carrin, 2009). CMHC lacks adequate finances to compensate its employees. The hospital serves many people, which brings in the need for many qualified employees (California Hospital Medical Center, 2012). The hospital should restructure the allocation of finances and allocate more money on human resource management. Remuneration raises the employees’ morale in performing their tasks. The management should also allocate some funds for hiring health practitioners from outside sources. This helps in meeting the demands of different people by increase the quality of services. The management can also come up with other means of rewarding the employees. The hospital should allocate some funds for incentives meant to reward and encourage the employees. The best way for the hospital to overcome this weakness is by reviewing the allocation of funds in the organization by allocating more money towards employee satisfaction. Resource required for the successful implementation of the plan The successful implementation of this plan requires different types of resources. The main resources required are the financial resources. These resources will help the organization planning, formulation and implementation of the plan. Financial resources will help in outsourcing labor, which is among the ways of overcoming the finance weaknesses of the hospital. Financial resources help the hospital in tracking the performance of the plan and in adopting necessary corrective measures for defaults. The financial resources are also responsible for compensating employees and motivating them. Remuneration increases the morale and encourages employees to work as a team. Financial incentives given to employees makes them feel part of the organization, which raises their productivity (Lee & Mills, 2011). The plan also requires human resources for it to be successful. The main human resource required is work force. The workforce should be capable of meeting the needs of people. The plan requires adequate planning and monitoring of activities within the hospital. For instance, the hospital needs to review the allocation of finances between its various departments. Highly trained personnel can only carry out such an activity. This calls for the need to hire skilled employees to help the organization in performing these tasks. Apart from the management, the implementation of the plan needs employees. A sizeable workforce ensures that the ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“SLP 4 - Healthcare Financial Problems and Remedial Action Plans Research Paper”, n.d.)
Retrieved from https://studentshare.org/health-sciences-medicine/1459468-slp
(SLP 4 - Healthcare Financial Problems and Remedial Action Plans Research Paper)
https://studentshare.org/health-sciences-medicine/1459468-slp.
“SLP 4 - Healthcare Financial Problems and Remedial Action Plans Research Paper”, n.d. https://studentshare.org/health-sciences-medicine/1459468-slp.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF SLP 4 - Healthcare Financial Problems and Remedial Action Plans

Faith and Works - Comparison of James 2:14 and Romans 4

While the apostles James and Paul agree that Faith connotes belief in God and Works connotes good actions, James contends that faith and works are both essential for salvation, while Paul asserts that faith is the only requisite.

James is unequivocal in his declaration that “faith by itself if it has no works, is dead” (2:17). However, he does not discount the importance of faith. His contention is that both are essential and one, without the other, is futile. He is addressing Christians, who, we may assume, are already among the congregation of the faithful, by virtue of their professed belief “that God is one” (2:19). Therefore, James accepts that faith is a precondition for salvation but asser...
7 Pages (1750 words) Assignment

Accounting & Financial Management

AWB’s operations can be categorized into areas ranging from ‘pool management services’ to ‘harvest financing’, and ‘International commodity management’. Only a company with such a big range of activities and financial outlays can become the benchmark for an equally big company like ‘Woolworth Limited’.

The performance of an entity can be better analyzed through its profitability analyses. The profitability ratios like Gross Profit ratio, Net Profit Margins, Return on assets (ROA), and Return on Equity (ROE). The calculations of such ratios are shown in the attached annexure. The Gross Profit ratio measures the percentage of each pound or dollar of sales remaining aft...
10 Pages (2500 words) Assignment

Financial Management Analysis of Rio Tinto Plc

Taking into consideration that Harmony is the sixth-largest in the world in the gold mining industry, the choice of Harmony God Mining Co. as a benchmark company is the most suitable and justifiable. Moreover, Harmony has also some investment stake in Rio Tinto, and this situation makes the company more suitable for the choice. At places, the benchmark company’s performances have been better than Rio Tinto, and thus Harmony has a competitive edge as well over Rio Tinto.

Profitability ratios like Operating Margin Ratio, Net Margin Ratio, Return on Assets (ROA), and Return on Equity (ROE) are the performance analyzer of any company. Profit Margin ratios show the relationship between profit and sales. Since profit ca...
8 Pages (2000 words) Case Study

The Problems and the Management at Classic Airlines

The issues discussed in Table 1, are framed in accordance with the situations discussed in the case of Classic Airlines. The organization is facing problems on account of steadily declining share prices as well as a simultaneous increase in the fuel prices and labor costs. This is a serious issue faced by management. Also the customer satisfaction is on a decline leading to further complications in the given scenario. The management is now faced with a dilemma of resorting to cost-cutting and has contemplated the implementation of automated customer care systems but the customers have expressed desire of availing the facility of being able to talk to a real person instead. This is further adding to the management’s troubles....
8 Pages (2000 words) Term Paper

Ryanairs Staff Treatment and Motivation Problems

To prove that not all of the public accusations against the way Ryanair handles its employees is true; a combination of qualitative and quantitative research methods will be utilized using research survey questionnaires. Aiming to strengthen the research survey results, an interview with Ryanair’s human resource assistant manager, customer service supervisor, duty manager, and duty controller was conducted to enable the researcher to gain a better insight with regards to employees’ views on labor unions and the type of motivational strategies used by the company.
Ryanair is an Irish low-cost airline with its head office in Dublin and its main operational base at London Stansted Airport. It is Europes major low-cos...
43 Pages (10750 words) Dissertation

Problems of Human Activities

A lion’s share of the industrial, cultural and academic leadership is made up of the baby boomers. The baby boomers also have the highest median household income in the United States of America. An undue burden is being placed by these baby boomers on their children’s economy. They are in a state of denial regarding their aging and death and thereby they do not plan for their retirement. Since there is a too rapid decline in population the immigrants help in maintaining the fertility rate and population of the country. This too leads to a plethora of problems. These immigrants sometimes do not join the mainstream of their adopted country and live in groups following their own culture and customs instead of assimilating...
7 Pages (1750 words) Term Paper

Emergency Economic Stabilization Act of 2008 and How It Has Impacted the Financial Markets

Though there were objections from various quarters about the huge amounts of tax payer’s money being used in the bailout of huge corporates, the Act has been successful in moving the downturn towards a flat point and now has started slowly moving towards a recovery stage. The various programs under the EESA 2008 have played a significant role in the financial sector, housing mortgage, and banking institutions to save the institutions from complete disaster.

The Emergency Economic Stabilization Act is a huge taxpayer bailout designed to rescue the financial sector. The amount of money to be used is around $700 billion or $2000 per American citizen (Public mark up). Emergency Economic Stabilization Act of 2008 is al...
10 Pages (2500 words) Research Paper

The Effects of Financial Crisis on Supplier Selection Criteria of the Oil and Gas Industry Equipment Market

It is a difficult task to find those vendors who not only have the adequate quality and quantity of the needed raw materials but who also have an attitude of efficiency and display commitment to customer service (Sonmat, 2006). Further, organizations also strive to locate and select vendors who can be depended upon for long term relationship.

The number of factors or attributes desired from the vendor is vast, and different organizations and different industries place different importance on the attributes (Sonmat, 2006). Some of the vendor attributes may gain importance owing to the nature of the industry, for example, in the case of consumer perishables suppliers, like fresh vegetables or fruits, the buying firm would...
20 Pages (5000 words) Literature review

Evaluation of Children with Visual Impairment between Ages 4-12

A visually impaired child may suffer from incomplete sight, reduced vision, total blindness as well as legal sightlessness (Kelley and Gale p 45). It is a condition that may become severe in a child, thereby affecting its growth and development. The impact is usually dependent on the kind of loss, age at which it occurs, as well as the general body functioning of the child. The normal interest that is usually evident amongst children on seeing attractive items in their surroundings lacks in a visually impaired child. This may interfere with the child’s learning capabilities unless he/she is assisted to learn. The development of social behavior in children usually depends on the ability to see parents or those in charge of ca...
6 Pages (1500 words) Coursework

Identification of problems in the Criminal Justice System of the US

They are on trial and will be dealt with fairly. These laws ensure that no one, even if he or she has committed a crime is abused or punished cruelly.
Following the history of civilization like in china, we see the traces of systems for Criminal justice in order to provide safety for the citizens. Evolving through the years laws have been modified and changed to form the system that we know today.
 From its start, the “U.S. criminal justice system” has advocated the idea of “checks and balances”. To avoid dictatorial rule, the people who founded this system in such a way that one person was not given control or authority completely to punish the criminals. The idea of assigning a ‘jury...
6 Pages (1500 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic SLP 4 - Healthcare Financial Problems and Remedial Action Plans for FREE!

Contact Us