Capital Equipment Request for Clinic for Women - Assignment Example

?Capital Equipment Request for Women’s Clinic Introduction A woman’s clinic requires several equipments to ensure its full operation. First, a woman’s clinic requires mammograms to help women in fighting breast cancer. Breast cancer fund must be availed to ensure that current mammograms are purchased that can help women who constantly seek medication concerning the increasing prevalence of breast cancer. In addition, cancer fund should also be availed. This will enable women who have other types of cancer to seek an affordable treatment at the clinic (McCuen, Sayles & Schnering, 2007). Secondly, the woman’s clinic requires a cardiovascular laboratory. This can only be achieved through the availing of cardiac care fund. Women are constantly affected by heart diseases (McCuen, Sayles & Schnering, 2007). The construction and buying of cardiovascular laboratory will help women in treating heart diseases and failures. Mother/ baby home care fund is also necessary in the operation of the women’s clinic. This fund will ensure that equipments are put in place to help women with high risk pregnancies so as to stop mortality rates. Other facilities that are important to the women’s clinic include the intensive care unit and Neonatal Intensive Care unit. Neonatal Intensive care Unit will help in providing special care needs for babies at the clinic. There is also the need to provide for funds for the poor in the society. This fund will help in providing medical care for the underprivileged women in the society. Funds will also be used in buying medical equipment for needed services at the clinic such as transport needs, for instance, the purchasing of ambulance. Planning for Funding and Expenses Funds necessary for the completion of the women’s clinic requires funding from several stakeholders. The stakeholders can be grouped into those who originate locally, regionally and nationally. Other sources of funds will include sponsorships and auto-financing. The total amount of funds that will be collected from the general public will constitute nearly three quarters of the total amount while sponsorships and s elf financing will contribute the rest of the resources needed for the project. The public source of fund can be separated between the state and the metropolis in which the hospital will be operating (Marquis & Huston, 2008). The total amount of expenses for the project is at $50 million. The other projects that had already been started cost about $10 million. These projects were implemented to make certain the smooth progress in the implementation of the project. Other facilities such as the communications important for the functioning of the facility cost about $133 million. Constructing the women’s clinic is therefore not a single one- time investment; the facility will be used by generation to come for their health needs. It is therefore indispensable for the government and the state governments to contribute funds for the conclusion of the scheme. The scheme can only be initiated according to the present budget and financial plans for the women’s clinic. The project can only be realistic if about $6m million to $10 million is spent in public relations and marketing activities of the clinic. No less than 65% of the total budget will be used in the implementation of the projects that are crucial for the operation of the clinic such as the breast cancer mammogram, cardiovascular laboratory, and intensive care units. Further, approximately 15-20 percent of the resources will be employed in the preparation stage. Long Term Financial Viability The long term financial viability at the clinic required the establishment of a realistic budget. The budget must be based on the current economic situation and the number of women nit expects to be using the facility. Long term financial viability cannot be achieved if the clinic will not be able to get adequate clients. Further, realistic revenue expectations have also been developed. The government, the state government, together with sponsorships is necessary in achieving revenue expectations of the clinic (Marquis & Huston, 2008). Consequently, in order to achieve long term financial viability at the clinic, there has been established an appropriate dues payment structure. This is ensured through the coming up of regular payment of dues on monthly basis. Further, there must be an efficient system for notification on the payment of dues; payment booklet both in electronic and hard copy forms are necessary in carrying out the process of paying dues and ensuring financial accountability. Sophisticated management methods will be employed to guarantee that there is long term financial viability at the clinic. However, it should be noted that the process of achieving financial viability at the clinic should not come up with systems that are very expensive to implement (Marquis & Huston, 2008). Achieving and Maintaining Financial Stability Lon term financial viability will ensure that the clinic achieve potential monetary obligations as they fall due. The most important worry of the clinic is to achieve adequate cash generation measures that will ensure its full operation without experiencing problems in its management hand meeting patient needs. Further, the clinic is also presented with an opportunity to ensure that there is effective management of long term debt. Although the main aim of the clinic is not to generate profit, the long term financial viability to the clinic is important in ensuring that future economic problems are dealt with effectively as well as funding projects aimed at improving the capacity of the clinic (Cleverly, Song & James, 2010). Financial viability at the clinic is affected by challenges including the surrounding in which it operates the condition of facilities, the resources, growth projections and patient requirements. Financial viability of an organization presents an opportunity to help in finding solutions to these factors that can negatively affect the operations of the clinic. Achieving and maintaining financial stability also ensures that the clinic assesses the provider’s cash flow as well as making sure that there are no discrepancies between accounting profit and cash flow. The assessment of cash flows is aimed at ensuring that there are indicators subject to greater volatility due to the effects brought about by the impact of capital expenditure and movements in the working capital. The main aim in analyzing cash flow is to determine the sustainability of the clinic. This involves the assessment of the extent in which the capital is sustainable in meeting the needs of patients without relying on capital grants (Cleverly, Song & James, 2010). Further, long term financial viability presents an opportunity to the clinic to analyze growth. This involves a close look at the potentiality of the clinic in achieving growth and the benefits of growth in achieving long term financial viability. In addition, long term financial viability presents an opportunity for the clinic to achieve stability. Stability can be refereed to the ability of the clinic’s cash flows and profits to provide a stable base for development and in paying the debts of the health unit (Cleverly, Song & James, 2010). It is also imperative to note that the assessment of long term financial viability at the clinic provides an opportunity for the management to provide adequate resources to bring about growth in all sectors, as well as the replacement of facilities that may not be providing quality service to the clients. Profitability assessment and cash flow also ensures that the clinic is protected against adverse situations such as economic downfall in most economies of the world (Cleverly, Song & James, 2010). Undertaking external borrowing from stake holders, capital grant contributions enable the clinic to invest in the provision of health care services to the community and potentially deliver good health care for the greater growth of the community health. Financial viability will ensure that there is assessment of external borrowings that can cause financial risks to the clinic. The clinic can spend most of its resources in paying debts and high interest rates put in place by financial lenders (Cleverly, Song & James, 2010). Challenges Affecting Health Care Organizations There are several internal as well as external challenges that affect health care organizations. The clients are normally affected by their ability to afford insurance costs that can ensure they get affordable medical care. In addition, other challenges may include the services provided by the doctors and nurses; these constitute the internal challenges to the health care organizations (Greenwald, 2010). One main challenge to health care today is the process gin which it is paid. Health care providers should need to find ways in which they can set affordable health care rates to the clients. Negotiations must be put in place among the health care providers to come up with common agreed upon rates. The public’s demand of having affordable medical care must be addressed. Another external factor depends on the geographic setting of the health unit. The setting of the health unit will determine how many patients are able to access the heath services. Clinics should be located in areas accessible by the greater part of the individuals in the community it intends to serve. The clinic’s reputation can be affected if clients spend a lot of time and resources to receive medical care (Greenwald, 2010). Internal challenges involve the quality of medical care offered by the doctors and the nurses. However, it should be noted that the nature of facilities used in providing medical care can also lead to poor quality service even if doctors and nurses are trained according to the required principles. Medical care units should ensure that their facilities are of good quality and that their doctors and nurses are trained to offer quality services to the clients (Greenwald, 2010). Conclusion Health care needs as well as the resources required in providing affordable medical care to the citizens continue to exert pressure on the nation’s financial resources. There have been calls for the increases the availing of excellent health care as well as evaluation measures to ensure that health care units provide medical care as expected by the general public. The current patient is well informed on the need to get the best necessary medical care concerning their tastes and preferences; it is therefore necessary to invest wisely in facilities and projects that bring a difference in the living conditions of the society members whenever they seek medical care in the hospitals. Facilities should be able to provide high quality service. Consumers continue to shape the destiny of health care providers as opposed to other aspects of business. Health units must be able to meet the consumer lifestyles and their need to get understandable information (Hertz, 2010). Access to medical care is also an important factor that should be achieved by health care providers as well as the process of implementing any project in the medical sector. Consumers constantly assess the accessibility of the health unit respect to geographic position as well as the costs. The heath care unit should be located in a place whereby every patient is able to locate as well as offer affordable medical care (Greenwald, 2010). References Cleverly, W., Song, P. & James, C. (2010). Essentials of Health care Finance. New York: Jones & Bartlett Learning. Greenwald, H. (2010), Health Care in the United States: Organization, Management, and Policy, New York: John Wiley & Sons. Hertz, H. (2010). Health Care Criteria for Performance Excellence: Baldridge National Quality program (2009-2010), New York: DIANE Publishing. Marquis, B. & Huston, C. (2008). Leadership Roles and Management Functions in Nursing: Theory and Application, New York: Lippincott Williams. McCuen, C., Sayles, N. & Schnering, P. (2007). Case Studies for Health Information Management, London: Cengage Learning. Read More