Senior Management of Bobcat County Hospital - Essay Example

?Executive summary: To, Senior Management of Bobcat County Hospital CEO Bobcat hospital is a non profitable that tries to provide qualitative services to their patients. Various new and improved investment decisions and information technology can be included in the management system in order to increase the efficiency of the organization. In order to improve the quality of healthcare, information technology can be utilized to a great extent. Both information and communication technology can be used to improve the quality of the service provided by the hospital. Capital investment decisions should be made very carefully. In order to make decisions on capital investment, first information regarding the inflows and its timing should be known. Another aspect to be considered is the impact of these decisions on the company’s profit and also the risk of investment involved. Discounting and non discounting models are available for capital investment decisions. When creating the decisions of capital budgeting, the directors of an industry are allocating the industry's resources to the growth of its creative capacity, and development in its efficiency of cost, or a diversification in its asset base. All of these decisions have significant insinuations for the future cash flows the industry expects to make and the risk of those cash flows. Long-term investment in bobcat hospital focuses in the provision of treatment, experienced nursing and additional long-term care. Customers are important factors for any business organization. Analysis of customers is essential while starting any kind of business. The product of this hospital is their service towards their patient. In order to get detailed information of customers, surveys can be conducted in the situated locality. With the motive of improving healthcare practices and to improve individual research, funds are required and it should be raised through available sources. The main competitor of bobcat county hospital is bobcat community hospital which is more easily accessible by patients. Objective of bobcat hospital should be to guarantee the safety of the patient as well as the workers and also to maintain quality along with it. Bobcat county hospital provide service that are mainly surgical and medical services, and supporting laboratories, workforce and equipment that make up the surgical and medical mission of the hospital or various systems in the hospital. Health and safety of hospital employees should be considered by the authority along with their services. Furthermore, better working conditions should be provided so that employees can work efficiently and qualitatively. Assignment 1 Introduction Bobcat IDS is a not-for-profit business establishment that is comprised of 120 bed acute care hospital, 15 bed rehab service, a 25 bed expert nursing facility, an agency of home healthcare and an outpatient clinic. Bobcat county hospital plays a chief role in the Patient hospital centre. The study talks about the medicare, rehab etc of the Bobcat county hospital and the various steps to improve the financial performance of the hospital. “Rehabilitation hospitals are specialty hospitals that offer intensive inpatient rehabilitation therapy” (Medicare Interactive, n.d.). e transmission between an Bobcat county hospital was founded to meet a perceived requirement for services, which were less expensive on a per diem basis than common hospitals but which offered a higher level of specialized therapies for example occupational therapy, speech therapy, and physical therapy than can be acquired in a "skilled nursing" care facility (Medicare Interactive, n.d.). Products: Bobcat county hospital products are mainly in the form of service that include surgical and medical services as well as the supporting laboratories, workforce and equipment that make up the surgical and medical mission of a hospital or various systems in the hospital. Hospital products make up the core of various offerings of the hospitals. They are frequently shaped by the requirements or wishes of its main users to build the hospital a one-stop or core establishment of its local society or medical network. The target market of the Bobcat county hospital is the middle income level people of the community. The main competitors of the products offered by the Bobcat county hospital is the Bobcat community hospital. Like any other hospital, Bobcat county hospital is also a type of institution consisting of basic workforce and services normally various department of surgery and medicine that manage clinical and other categories of services for the particular conditions and diseases. “Hospitals provide pharmacy services that supply patients with medications as prescribed. In addition to providing inpatients with medicine, many hospital pharmacies can fill prescriptions for patients as they leave” (Types Of Services in Hospitals, 2009). Problems: The major problem faced by every hospital is that a rising number of patients are spending more days in the hospital in “observation’’ phase, frequently without realizing they were never formally admitted. Major problems faced by the Bobcat county hospital are: Less quality service. Paying less salary to the nurses even if they work over time. This low paid salary of the hospital affects the overall performance of the hospital’s functioning. “Poor pay and low morale are causing nurses to leave the profession at an alarming rate, with the problem worse in inner city areas” (Nurses Quit Over Low Pay And Poor Morale, n.d.). Solution: Guaranteeing the safety of patients and workers as well as developing quality has become significant objectives for all kinds of health care systems. In order to overcome the problems related to less quality services, hospital quality strategies must consist of improving inter-service quality for diverse groups, and speak to hospital-community synchronization of healthcare issues. Experiences of the clients and results are affected by how hospitals offer access, outreach as well as connect with non-hospital services. Efficient solutions to nurse staffing concerns of the Bobcat county hospital are: • Increasing disburse for nurses is the most straight method to draw both presently aspiring and qualified nursing staff to hospital employment. Hospitals that decide to offer high wages are capable to attract more nursing staff, leading to more satisfactory staffing and better patient care. • Hospitals’ salary-setting practices must be reasonable, without illegal collusion between hospitals. Opportunity: Opportunities in the development of the discipline provided by translational research. Significance of study into monitoring environmental health. Corporate investments connected to small animals. Competitive advantage: Hospitals, small and large, have a mission of continuous development, which is no small task when the financial system takes a dip, and then the organization’s cash and other resources dry up. To remain economically feasible, a freestanding hospital must protect and maintain a sustainable competitive benefit in its service area. Following six competitive aspects are strongly connected with the capability to accomplish long-term financial success of the Bobcat county hospital: Efficient geographic barriers. “Favorable payer mix”. Well-built physician alignment. Considerable high-quality asset base. High-quality concern and care. Low-cost structure “Not all competitive factors are created equal. While some factors are difficult to control and don’t deter competitors (e.g.: payer mix), others can be leveraged to significantly enhance or transform a hospital’s strategic position for the better” (The New Community Hospital Imperative, 2010, p. 4). Business model Development of standardized model is necessary for a successful hospital. Suppliers are hired on a standardized basis since sustainable products should be provided to customers. Business model includes all the facilities the hospital offers, all the qualitative services provided to the customers, measures taken for the wellbeing of customers as well as the employees etc. Health and safety of hospital employees should be considered by the authority along with their products, and also better working condition should be provided so that employees can work efficiently and qualitatively. Healthcare organizations have the duty to integrate financial and social sustainability among the industry. Only when the human health and environment become stronger, sustainability can be maintained. Team: In Bobcat county hospital, Chief Executive Officer (CEO) is Mr. Salter, who through his leadership provides a productive culture in the organization. They focus on maintaining strong financial culture and also implementing policies and procedures required for the hospital. Ms. Patty Care is the director of nursing and her primary duties include reviewing and supervising existing nursing staffs, maintaining data and records of patient and trying to keep up the standard of patient care. They also have the duty to report to the high level staff employees. The medical director is Dr. Spok, who participates in decision making meetings and approves various policies and procedures. Physician services are organized and coordinated by medical directors. Financials: While calculating cost of a hospital, 90% of cost is fixed and rest 10% is variable. Accounting system of a hospital fully explains details about the cost incurred in entire services such as certain facilities offered for the treatment of bobcats. The cost accounting system faced by any hospital is that information provided does not include how to improve the cost incurred. Variable cost is considered as cost which changes with change in activities. For example by increasing admission variable cost varies in the hospital. Fixed cost is cost which remains fixed. Activities of fixed cost are “municipal services, vagency nursing, medical stores, domestic services (meals, cleaning, laundry), security, telephone, unit management, transport - maintenance and repairs Staff salaries Patient days Floor space” Variable cost is incurred in the department of “pharmacy Laboratory Radiology” (Kuckow PM, 1992, 305). Customer analysis is an important factor to be carried on while starting any type of business. Their product include the services that the hospitals offered and customers look forward for better treatment and caring from hospital in a compassionate manner. Hospital should focus on the areas where they are located. Hospital should always aim to fulfill the needs of current as well as potential customers. Surveys can be carried for the better understanding of potential customers. Funding: Funds are offered for many purposes that include the growth and expansion of the hospitals. In order to make the doctors familiar with the working condition and the equipments and also for professional development, certain graduate programs are carried which require funds for better execution. Certain standards are fixed by the hospital and they explain their ability to achieve their requirement. In order to achieve the standards of the organization, funds are required to be allocated. Therefore hospitals have to keep their workflows in order and should design well. While funds are provided hospitals should also look in to its security requirement. General security agreements, disability insurance personal guarantee etc are used for securing the hospitals’ requirements. Most of the institutions require loans for the proper functioning and also it helps in the funding of the hospital. Assignment 2 Promote the vision and mission of health through sound professional practices, ethics, and social accountability. In a hospital better strategic plan is where the vision, mission and values are the foundations. Health care system is changing continuously like changes in the technology and also in values all these changes contribute to ethical conflicts. The mission of the hospital explains its core requirements and also defines the reason for its existence. Vision describes the future of hospital or where it needs to be. Vision is involved with sustainable growth of the hospital by ensuring public health and also economic prosperity. Mission is related with providing best services to the customers. There are certain values that are followed by the hospitals, which include compassion where customers and their families are treated in a good manner by providing gratitude and respect, trying to exceed the level of expectations of the customers and also the stake holders, by providing a skillful and truthful workforce, by innovative technologies and through improved services, upgrading the performance etc. Analyze capital and operating budgets in achieving the organization mission and goals. Analysis done on capital budgets are for evaluating the investment done on capital assets. Capital budgets are more static than operating budget. Decision is taken by considering both budgets. Benefits are explored through capital budgets like evaluating the cost of assets, risk premium etc are evaluated and take benefit out of it. Total assets of the hospital is 510,74,750 and total current liabilities are 104,74,750. Budgeting helps in better control on the money by planning and controlling the future activities. Here, budgeting focus on better performance in future. Through analysis hospital can compensate risk level between projects, help in identifying risk that are associated with foreign projects, and also through this actual result adjustments can be made. Operating budgets are mainly carried for the operational purposes including operational expenditure. • Promote information management capabilities for the improvement of health care management. A system that gives information is crucial to the decision making method at each level of an organization. This system should integrate data collection, reporting, processing and use of the information essential for increasing health service efficiency and effectiveness through better management at all levels of the organization. “Healthcare information system means meticulously maintaining a patient’s healthcare records and ensuring that confidential information is securely kept” (Healthcare Information, n.d.). In the case of bobcat healthcare, the agreement among Presbyterian and the teams contain treatment and healthcare for the staff and players of the businesses and Presbyterian will also give medical facilities for every event in the latest Uptown Arena. In fact, the new arena will be connected “electronically to Presbyterian Hospital so that X-ray images” may be digitized and transferred instantly, allowing health specialists at Presbyterian Hospital to help in diagnosis (Wildlife Center Of Virginia To Release Bobcat In Craig County, n.d.). Bobcat healthcare information systems are responsible for maintaining, securing and updating every patient’s healthcare information. The professionals of health information management plan to expand health policy and present the upcoming information needs. These professionals apply the science of informatics to the storage, collection, use and transmission of data to meet the professional, legal, ethical and managerial records keeping conditions of health care delivery. It includes health information managers, medical reports and technicians of health information, health information administrator and trainers. • Provide the logic behind the proposal. These are the main logic behind this proposal: Explain program plan Identify proper outcome targets Align the attempts with those of other businesses Write a grant proposal or a apply for new proposals Assess the probable efficiency of an approach Set priorities for assigning resources Estimate timelines Recognize essential partnerships Negotiate responsibilities and roles Focus debates and create preparation time more effective And also during implementation of the proposal it helps to: Increase a management plan Incorporate findings from demonstration and research projects Create mid-course adjustments Reduce accidental effects Provide justifications for recommendations. Hospital staff has to take personal task for prioritizing the needs of the person who requires care. Hospital boards have to know how individuals experience care in their health services, and view dignity as a significant measure of performance. Every management and board’s team must have robust procedures in place to collate complaints and feedback from older persons, their employees so they can recognize emerging tendencies and respond to them. This must contain efficient whistle blowing process for employees who are concerned regarding care values. Hospital boards have to react quickly to “any suggestion of deterioration in dignity performance” (Key Recommendations, n.d.). Present long-term investment decisions for Bobcat County Hospital. Investment analysis is the procedure of development for the purchases of assets whose incomes are probable to continue beyond one year. “Investment decisions revolve around how to best allocate capital to maximize their value” (Types of Financial Decisions, n.d.,). Investment decision affects the geographic distribution of health care services and resources. Investment decisions frequently made external those firms and involve various shareholders for whom investment decisions can entail changes in the distribution of political and financial power. • Present a contingency plan with consideration for multiple barriers to implementation. A contingency plan is devised for detailed circumstances when things can go wrong. Contingency plans are frequently planed by businesses or governments who desire to be prepared for anything that can happen. The development of contingency plan is a critical part in the procedure of implementing a comprehensive disaster preparedness plan. There are mainly five major parts of a project contingency plan in bobcat hospital. They are concept of operations, recovery of operations, notification and activation, reconstitution of regular operations and supporting data as part of the plan’s appendices. For contingency plan to be successful, stakeholders have to continuously reconsider areas of operational implication with a focus on things, for example, business procedures, systems, and alternatives analysis, recovery plans, training, maintenance and execution of plan. These actions happen at both the project and organization level. References Healthcare Information. (n.d.). Retrieved from Hospital Services. (n.d.). Retrieved from Key Recommendations. (n.d.). Retrieved from < HYPERLINK "http://www.nhsconfed.org/priorities/Quality/Partnership-on-dignity/Pages/Keyrecommendations.aspx"http://www.nhsconfed.org/priorities/Quality/Partnership-on-dignity/Pages/Keyrecommendations.aspx> Kuckow PM. Cost of urology: Financial Audit in a Clinical Department. British Medical Journal 1992; 305: pp743-74. Retrieved from Medicare Interactive - Does Medicare pay for care in a rehabilitation hospital? (n.d.). Retrieved September 1, 2013, from Nurses Quit Over Low Pay And Poor Morale, (n.d.). Retrieved from The New Community Hospital Imperative. (2010) Kurt Salmon Associates,(p-4).Retrieved from Types of Financial Decisions: Investment and Financing - Introducing Finance. (n.d.). Retrieved September 1, 2013, from https://www.boundless.com/finance/introduction-to-the-field-and-goals-of-financial-management/introducing-finance/types-of-financial-decisions-investment-and-financing/ Types Of Services In Hospitals. (2009, September). Retrieved September 1, 2013, from http://www.livestrong.com/article/24662-types-services-hospitals/#ixzz2dU0TBmru Wildlife Center Of Virginia To Release Bobcat In Craig County. (n.d.). Retrieved from Read More