Applying Lean Principles to Health Economics in Order to Improve the Transactional Process - Capstone Project Example

The paper "Applying Lean Principles to Health Economics in Order to Improve the Transactional Process" is a wonderful example of a capstone project on management.2.0 CHAPTER 2 HEALTHCARE SYSTEM AND TRANSACTIONAL PROCESS 2.1 INTRODUCTION The organization of a typical structure for any modern health care provider envisions various departments with specialized and integrated roles. These departments work in unison for the efficiency of the service provider. One of such departments within the structure is the Health Economics Department (HED).

This department plays a significant role in determining the various financial and accounting units and procedures within the organization. Essentially, this section of the whole structure determines the efficiency levels within which the financial procedures and transactions rest. A recent development in the field of technology has brought magnificent impacts in this department. The technological dependence and reliability of various activities within the HED have therefore been influenced by technological departments.

One of the improvements relating to the HED unit relates to the development of an efficient Transactional Flow Process (TFP) within the organization. The economic department usually plays the role of handling the monetary resources and gains relating to the various duties within the hospital. Therefore, the TFP model developed to aim at improving and enhancing the handling and movement of money (Lighter 2011). The TFP embodies various elements that all work in uniform integration for the promotion of various activities within the facility.

One of the specific roles performed within this department relates to the smoothening activities within the Accounting and Financial Unite (AFU). The AFU refers to the area within the entire structural model concerned with the purposes of handling the receipts and expenditures of the entire hospital. The role of accounting for all monetary resources and also providing financial decisions remains under the purview of this department. In essence, the AFU deals with decisions relating to offering financial (Lighter 2011).

Advice and control for the entire organization. The recent developments in technology have therefore improved the normal functions of this unit. Despite the enhancement of modern technology, improvement in accounting knowledge, and modernization of the accounting practices; challenges still exist in the handling and management of the financial resources. Scholars attribute this challenge to the existing defects in the Transactional Procedures as well as the extensive wastages attributed to the financial management processes.

The continued persistence of organizations and various institutions to edify their financial policies and objectives has however improved several strategic applications towards these procedures (Lighter 2011). Nevertheless, there still exist a plethora of challenges in the manner of transactional processes and general management of financial resources. Several studies conducted in the modern organizational set up reveals a great disparity between the actual transactional process and the strategic plans that the organizations have.

Therefore, there has arisen a great sound of concern towards improving these processes (Lighter 2011). Transactional Flow Processes refers to the various stages and procedures through a receive firm orders, verify and process the payment methods and then deliver the purchased item. It, therefore, denotes a well-planned sequence of activities and procedures intended at ensuring the process of transactions and payments occur within the parameters of efficiency. This definition, however, differed depending on the specific departments under study.

In the context of this research, it denotes the specific sequences and procedures through which financial resources follow within the Accounting and Financial Unit (AFU). The implications of the Transactional flow processes in this study relates to the sequential stages through which financial resources are handling and administered.