Medical Practice Executive Summary

A strong operating and capital budget should align with the strategic goals of Creekside Community Hospital, as well as ensure operational efficiencies and financial longevity. Planning capital purchases continually and for future years will allow Creekside to be competitive, which is a crucial factor in capital budgeting (Gapenski & Reiter, 2016). Vianueva (2011) suggests an inadequate capital budget process leads to a key problem area for hospitals. Cost allocation is a vital component of the capital budget process. Costs must be allocated to the appropriate departments or areas where they are incurred, as well as where revenues are generated. With Creekside Community Hospital exhibiting higher inpatient costs than outpatient costs, the hospital leadership should ensure accuracy so that managers have the information necessary to make sound, financial decisions currently and in the future related to staff support, equipment and supply purchase to name a few.

Kaiser Permanente s a company that was registered to deliver healthcare services to individuals who are geographically distributed. The organization is dedicated to increasing the medical quality for its members and their immediate environment. The firm has been operating for sixty years, it evolved from programs that were operating in the industrial sector especially shipyards, construction, and steel mill workers in the late 1930s (Kaiser, 2015). In 1945 it was opened for the enrolment of the public who wanted to get their services. The enterprise started with one surgeon and a hospital that had twelve beds in Mojave Desert. The managing director (MD), Sidney Garfield, observed the young people who were involved in different development projects. The MD took a loan to cater for his expenses as he started building the Project of Colorado River Aqueduct since he noticed an opportunity. As the operations begun, most individuals were not in a position of

As America continues to be a society of working class people, others retiring and needing help, there will always be the need for elderly care. The trend of the aging drives the facility’s business.

The essential target of the Medicare Prescription Drug, Improvement, and Modernization Act (MMA) was to furnish seniors in the United States with moderate scope for their physician endorsed solutions through the new Medicare Part D professionally prescribed medication advantage. After the MMA was implemented—however before Part D was actualized—there was a disagreement about the cost of the program. In March 2004, the Medicare Chief Actuary affirmed before the House Ways and Means Committee of United States Congress that he was requested by the (Centers for Medicare and Medicaid Services) CMS Administrator to smother his assessments of the ten-year cost of the program, which were considerably more noteworthy than unique Congressional Budget

Acute Long Term Care Skilled facilities are no longer for the elderly age 65 and older. These facilities are housing individuals with more complex medical conditions that require more care. The need for healthcare providers in long term care settings are in great demand.

Medicare provides federal health insurance coverage to millions of elderly, and disabled Americans. As of 2015 data by the Kaiser Family Foundation, Medicare covers 55 million people. Medicare covers people age 65 and older, people younger than 65 with certain disabilities, and people of all ages with End-Stage Renal Disease, or amyotrophic lateral sclerosis (Medicare, 2015). Medicare consists of several different components, including: Part A, Part B, Part C, and Part D. This Federal health insurance program, Medicare, is financed by several sources, including taxes, revenue, and premiums. Each part of Medicare has different eligibility requirements and provides different benefits, and covered services.

Each aspect plays a role, as financial management as a whole impacts the health care organization in a significant way. An example (that ties to evidence) of a primary component is the model analysis of the insurance system that affects the health budgeting spending on a statewide level. Further elaborating, the insurance system affects the input and output of the external categorization of the practical approach for a health care organization to utilize their primary care towards patients. Thus, as a result the aspects shift according to model process. Additionally, one’s perspective plays an important role in influencing decision-making in regards to financial management for healthcare. This is because the individual plays a primary role in the performance and internal indicators of the direction of the organizational mission; thus their output affects the organization’s advancement.

The reductions affect the financial burden to the government programs that help pay for the patients under government long-term care plans. Could there be a better tool to improve the long term care system? A consumer driven long-term care system is a system that caters to the patient’s needs. The provider driven may work for some patients that have that specific need. The effective way to long-term care is to address each patient’s unique needs.

Managers who are managing health care organizations must be attentive to the accounting practices and must obey and practice the financial management procedures to be able to solve any issues if any should arise. With the continuation of the high costs of health care managers as well as consumers must know how to budget carefully. According to All Business. (2010), the cost of providing health care services, patients way of payment for these services and the environment in which those patients reside and receive those services are important elements that affect the care this is or may not be

Successful medical organizations have as their guiding principles a professionally stated purpose which encompasses and details their mission statement, vision statement, values statement, and broad strategic goals. The organizational structure is established on these statements, and the function of each department and the duties of each employee are based upon fulfilling the purpose of these statements. Additionally, these statements must encompass the various aspects of the organization and its stakeholders. As Moore, Ellsworth, and Haufman (2011) purport, “ Any organization planning as though it exists in a vacuum is ignoring factors critical for its survival” (p. 16). Without these guiding principles to serve as a direction for the

Long term care is one of the fastest growing health sectors due to the increased average life

Health care is a fascinating industry. So many types of care are included within the industry. Health care can be very broad or very specific. Health care is also comprised of different types of health care. One specific sector is long-term health care. Long-term care plays a huge role in the health care continuum. This paper will define long-term care and a continuum as well as discuss the services provided and how these services fit in the continuum of care, the resources that go along with long-term care and how it contributes to overall health care resources, and how long-term care services

In addition to the challenges of the primary care physician shortage, the shortage will also have a great impact on health care organizations from a business perspective. The shortage will have a great effect because physicians are revenue makers for healthcare organizations. The care primary care physicians provide translates into billable services that make up the organization’s income. It is reported that the average physician generates approximately $1.4 million in income for a healthcare organization (Amirault, 2014). Therefore, organizations operating with less primary care physicians could experience significant revenue loss. For example, if a health care organization is short a single primary care physician it could mean longer appointment waiting times for patients. This could result in patients choosing a different organization for their medical care and the health care organization will lose money. The organization will be affected in other ways as well because fewer primary care physicians mean lower patient satisfaction and quality of care. From a business perspective, the shortage of primary care physicians will

Looking at the 2009 Operating Budget, is easy to deduct that PFCH management team has been practicing successful management techniques augmenting the revenues in almost 10% from 2008 in comparison with not even a 6% in expenses increase. For 2010 the percentages of increase are lower based on the assumption that a three percent general deflation rate for prices in 2009 will continue into 2010 as a result of the weak economy (Virtual Organizations, 2011). The figures are as follows: Patient revenue and total revenue will increase three percent in 2010, and even if it is at a decreased rate with little or no increase in patient volume, resulting of new managed care contracts, the tendency of having a major increase in revenues than expenses continues with only a 1.26% expenses increase.

This paper will review the many aspects of long-term care problems and many challenges there are within Long-Term care. We will look at rising costs within long-Term Care, patient abuse, will look at the quality of life, shortages of nurses and demand that the elderly are putting on the medical field. The type of care that Long-Term Care had been giving to its patients and the changes within Long-Term Care.