Chart of Accounts for Health Care Organizations - Essay Example

Chart of Accounts for Health Care Organizations Introduction Headquartered in Phoenix, Arizona Banner Health is a system of health care service provider that runs a network of twenty-three hospitals and multiple other specialized facilities in various states throughout America. Banner Health is a nonprofit generating institution and, therefore, serves the community on a humanitarian basis. Despite having such a philanthropic structure, the company is among the largest employer in the country. In Arizona for example, Banner Health is the second largest employer after Walmart. The company operates efficiently as it provides a number of health care services including hospice, emergency care, outpatient surgeries, long-term home care, pharmacies and rehabilitation services among many others. Formed through a merger of Samaritan Health System and Lutheran Health Systems in 1999, the company has grown rapidly and currently boasts of assets worth $6.4 Billion (Piland, Glass & Center for Research in Ambulatory Health Care Administration, 1999). Readiness of the network in addressing health care needs in the next decade Banner Health has an efficient structure that has continued to portray its readiness to face the dynamic nature of the industry. The network continues to position itself strategically in the provision of health care services thereby making itself ready to offer its services in the next decade. Key among such strategies is the expansion of its network coupled with its diversification plan. As explained earlier, the company has expanded from Phoenix in Arizona to have more than twenty outlets in several other states. Such is an effective strategy the network employs in ensuring that it reaches as many Americans as possible. Health care is a basic need in any economy; the company, therefore, grows its network thereby enhancing the accessibility of its services throughout the nation. The same is the case with the diversification of the network. Banner health offers a number of services including pharmacy, hospice, rehabilitation services, laboratory services and hospital care among many others. Demand for health care services is dynamic given the changing lifestyle in the contemporary society. The next decade promises further changes a feature that requires the services providers to streamline their capabilities. Banner health portrays the dynamism capable of handling the demands for health care service in the future. Emergency services are vital in ensuring that the company handles the demand for emergency services. The same is the case with hospice and home care among the many other services. Key among the benefits of diversifying services as the network does is the fact that it covers the needs of numerous people in the society, such position Banner health strategically thereby safeguarding its future in the next decade. Cost is yet another important feature that will cause concern for American citizens in the next decade. Americans continue to demand affordable high quality health care. Banner health operates on a nonprofit generating company. This makes its services less costly than the services of profit generating facilities are throughout the country. Besides offering affordable services to the locals, the network has one of the most dedicated and highly motivated team of doctors, nurses and laboratory technicians among many other health practitioners. Such a team safeguards the quality of services the company offers. Such basic factors coupled with the fact that the company continues to grow its network ensures that the company improves its ability to offer services in the next decade and into the future. Strategic plan The management of Banner health recognizes the features that would enhance the operations of the network thereby safeguard both its longevity and productivity to the society. As such, the management continues to make appropriate decisions regarding the management of the vast human resource at the company and growing the assets of the network thereby positioning it strategically to operate in the future. Human resource management is one such feature that requires the management to employ appropriate management strategies in order to motivate the employees thereby enhancing their productivity. As explained earlier Banner health is among the leading employers in the United States. The management of the company, therefore, employs appropriate human resource management strategies to build a motivated, focused and productive workforce at the company. The management of the company understands the important role that the human resource plays in the growth of the network. As such, besides improving the facilities on the network, the management strives to improve the productivity of the numerous human resource at the company. Besides being among the largest employers in the country, the company is also one of the best to work for owing to the fact that it has created a clean, safe and friendly working environment. The company has numerous support services for its employees. The company pays its employees competitively and provides them with such basic perks as recreational facilities, paid leave, meals and emergency health facilities both for the employees and their families. Such factors motivate the employees thereby improving their productivity. In its strategic management plain is the need to position the network strategically and competitively in the market. The management of the company does this by complying with the laws of the nation coupled with a proportionate level of creativity in its marketing. Health insurance is among the latest inclusions in the health care industry with the government making appropriate legislations help Americans afford health insurance plans. Banner health currently operates an insurance plan known as Banner Medisun as part of the Medicare Advantage. The inclusion of the insurance plan is yet another strategic feature that improves the networks capabilities to provide health care services in the next decade given the drive by the government to improve the affordability of health care for most Americans. Additionally, the network introduced a telemedicine program. Just as the name suggests, a telemedicine program is a method of offering health care services at a distance using the various telecommunication technologies. Banner health uses electronic mails, video conference facilities and mobile phones to intercept situations thereby increase its coverage. The facility utilizes APACHE II (Acute Physiology and Chronic Health Evaluation II) to measure the severity of patients and classify them. The two systems have systematically saved hundreds of Intensive Care Unit days thereby improving the efficiency of the network (Knaus, Draper, Wagner & Zimmerman, 1985). Banner health took over the management of the University of Arizona Health Network with the approval of the Arizona Board of Regents. Such was a strategic move that made the network both a teaching and referral facility. With the University, the network enjoys a steady supply of highly trained professionals who will further its medical research thus contribution of the facility to the invention of new drugs and ways of treating the various diseases (Wickramasinghe, Gupta & Sharma, 2005). By taking over the management of the University’s health network Banner positions itself strategically in not only providing services in the next decade but will also influence the future of health care. Conclusion In retrospect, Banner health is an ideal modern day health facility that offers its services appropriately. The management of the network strives to improve the productivity of the facility while streamlining its operations to the future demands of the market. This way, the management safeguards the satisfaction of both the employees and the patients thus the future of the network. The growth of the network ever since its inception in 1999 shows an ambitious management that continues to invest strategically in safeguarding the posterity of the company. The network operates on a nonprofit basis but enjoys the efficiency of a Silicon Valley company. From launching a telemedicine program to taking over the management of the University of Arizona Health Network, Banner health continues to show the tenacity that will safeguard its productivity and longevity in the industry. The various programs and operational strategies the company uses enhance the satisfaction of the patients, its staff and management among other stakeholders. References Knaus WA, Draper EA, Wagner DP, Zimmerman JE (1985). "APACHE II: a severity of disease classification system". Critical Care Medicine 13 (10): 818–29. Piland, N. F., Glass, K. P., & Center for Research in Ambulatory Health Care Administration (U.S.). (1999). Chart of accounts for health care organizations. Englewood, CO: Center for Research in Ambulatory Health Care Administration. Wickramasinghe, N., Gupta, J. N. D., & Sharma, S. K. (2005). Creating knowledge-based healthcare organizations. Hershey Penns: Idea Group Pub. Read More