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 costs and increase productivity. This will allow us to determine specific tactics that can be utilized on the divisional level to effectively control costs. (Santerre, 2010. pp. 416- 432)
The next step is to seek out other sources of outside financing (such as grants). These can be used to help modernize the facility and provide funding for new programs that are in demand. This will allow the hospital to be able to finance and expand the different services that they are providing. Over the course of time, this will help to increase demand within the community. While at the same time, it is able to keep the underlying costs manageable. This when the hospital will begin to: address the various financial challenges and cost controls that they are facing. (Santerre, 2010. pp. 416- 432)
To improve the reimbursement program, the hospital could look at: the outsourcing these services to third party billing companies and collectors. This will reduce the staff costs and it will increase the effectiveness of this program by: having these organizations focusing on helping the company to maximize its profits....
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(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
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