Verified Document

Finance And Reimbursement Has Been Case Study

(McLaughlin, 2006, pp. 600 -- 610) Greater amounts of coordination, is when you are working on: improving relations with the community and outside donors. This will allow the hospital to be able to have increased access to additional sources of funding (i.e. foundations and wealthy individuals). They could help to: refocus the kinds of treatment options that are delivered at the facility and the culture inside the organization itself. Once this occurs, it means that the overall quality of care that patients are receiving will increase dramatically. If these different resources can be used as a part of the financing and reimbursement strategy; this will help to address the long-term challenges facing the facility. (McLaughlin, 2006, pp. 600 -- 610)

How will the effectiveness (success) of your plan be measured?

The effectiveness of our plan will be measured using two different types of tools to include: surveys and outside consultants. The use of surveys will be provided to staff members and patients. The basic idea is to see what areas they think could be improved upon, when it comes to reducing costs and increasing the quality of care. ("Patient Satisfaction Surveys," 2011)

While consultants, could be used to monitor various factors that are affecting the costs and profit margins of the hospital. They could then, make specific recommendations about how these issues can be effectively addressed in the future. If these two tools can be utilized, it will help to ensure that California Hospital Medical Center is able to adjust and effectively monitor these changes in real time. We can then...

This will make the hospital more responsive to the challenges it is facing by: having different tools that will analyze these problems and creating strategies for deal with them. Once this occurs, the facility will be able to adjust to the changes that are taking place inside the industry and from customer demand.
Clearly, the biggest financial challenges that California Hospital Medical Center is dealing with includes: there are limited sources of income and there is lack of outside financial support for the facility. This is problematic, because these two factors will cause the underlying costs to increase and profit margins to decline. To prevent this from happening, various resources will be utilized to address these issues to include: improvements in technology, effective leadership at the departmental / team level and greater amounts of coordination. We will then have effective monitoring procedures in place through the use of: surveys and outside consultants. These different elements are important, because they are showing the resources that are required and how effective monitoring (as a part of the strategy) can address these issues.

Bibliography

Costs of Your Health Plan. (2010). CNN. Retrieved from: http://money.cnn.com/2010/10/20/pf/rising_health_care_costs.moneymag/index.htm

Patient Satisfaction Surveys. (2011). Info Serve. Retrieved from: http://www.infosurv.com/patient-satisfaction-survey/

McLaughlin, C. (2006). Continuous Quality Improvement. Sudbury, MA: Jones and Bartlett.

Sources used in this document:
Bibliography

Costs of Your Health Plan. (2010). CNN. Retrieved from: http://money.cnn.com/2010/10/20/pf/rising_health_care_costs.moneymag/index.htm

Patient Satisfaction Surveys. (2011). Info Serve. Retrieved from: http://www.infosurv.com/patient-satisfaction-survey/

McLaughlin, C. (2006). Continuous Quality Improvement. Sudbury, MA: Jones and Bartlett.
Cite this Document:
Copy Bibliography Citation

Related Documents

Finance and Reimbursement Over the
Words: 951 Length: 3 Document Type: Case Study

The Steps that Can be Taken to Address Financial and Reimbursement Issues The most effective way for controlling costs, is to find out where specific waste and misuse of funds is occurring. This will help administrators to identify those areas where there is a lack of accountability and ineffective controls. Once this occurs, you would then begin seeking out specific recommendations from the different department heads about: how they can control

Finances in Nursing Interview
Words: 1724 Length: 5 Document Type: Term Paper

Finances in Nursing, Interview Description of the role of a CFO within selected organization A CFO has to have a sharp understanding of finance. Individuals presume that CFOs have that; however one would state it's not in all cases. It's likewise being capital-market-savvy, over and above the oversight of company operations, which undoubtedly the controllers are accountable for, it's additionally being somebody who is interacting the essential strengths of the business well

Finance Financial Management in Non-Profit Organizations Financial...
Words: 4076 Length: 10 Document Type: Term Paper

Finance Financial Management in Non-Profit Organizations Financial management of not-for-profits is comparable to financial management in the commercial sector in a lot of respects; but, certain key variations shift the focus of a not-for-profit financial manager. A for-profit company focuses on prosperity and capitalizing on shareholder value. A not-for-profit organization's main goal is not to augment shareholder value; rather it is to offer some socially attractive need on a continuing basis. Budgeting

Reimbursement Issues in Healthcare
Words: 1420 Length: 4 Document Type: Research Paper

Third-Party Payment Systems: a) Healthcare System Reimbursement: Evaluate third-party payer models for the impacts they present on healthcare system reimbursement. Third-party payer models currently have a tremendous impact on the healthcare reimbursement system. The most considerable of these is the diverse forms in which they cause reimbursement to manifest. The vast majority of patients involved in the healthcare system utilize third-party payer models in the form of healthcare insurance. Insurance companies are

Reimbursement of Healthcare Services
Words: 376 Length: 1 Document Type: Essay

Reimbursement Payment for healthcare services is one of the issues that has been the subject of numerous debates and most reformed aspects of the healthcare sector in the United States. This issue has attracted considerable attention because of the increased focus on enhancing the affordability of healthcare services without compromising quality. Consequently, various reimbursement models have been established to help address how providers are paid. There are many types of payers

Policy Changes in Healthcare Finance Healthcare Finance
Words: 2462 Length: 7 Document Type: Essay

Policy Changes in Healthcare Finance Healthcare Finance CPT Codes The American Medical Association (2013) developed the Current Procedure Terminology (CPT) codes decades ago in the 1960s. The first edition was published in 1966 and over the subsequent years several updated versions were created. The reasons for developing the CPT code system was to make communications about medical procedures easier between health care providers, help patients and their doctors submit claims for services

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now