What does the term “variance analysis mean when applied of financial performance of health care organizations?

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WHAT ARE THE FOUR MAJOR BUDGETS OF A HEALTH CARE ORGANIZATION? BRIEFLY DISCUSS EACH.

1. What are the major components of the planning/control cycle?
2. What are the four major budgets of a health care organization? Briefly discuss each.
3. Describe the four types of responsibility centers, including the characteristics of each.
4. What are transfer prices? Discuss their major disadvantages.
5. Name two financial measures used to judge the performance of investment centers that are not used to measure the financial performance of profit centers.
6. What does the term “variance analysis mean when applied of financial performance of health care organizations?
7. A new cardiac catheterization lab was constructed at Havea Heart Hospital. The investment for the lab was $450,000 in equipment costs and $50,000 in renovation costs. A desired return on investment is 12 percent. Once the lab was constructed, 5,000 patients were served in the first year and were charged $340, for each procedure. The annual fixed cost for the catheterization lab is $1 million and the variable cost is $129 per procedure. What is the catheterization labs profit? Did this profit meet its desired ROI? Why or Why not?

Identify the human, fiscal and material resources necessary to efficiently achieve quality health care outcomes.

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IDENTIFY THE HUMAN, FISCAL AND MATERIAL RESOURCES NECESSARY TO EFFICIENTLY ACHIEVE QUALITY HEALTH CARE OUTCOMES.

Module VI concentrates on the following course outcomes—
· Identify the human, fiscal and material resources necessary to efficiently achieve quality health care outcomes.
· Definitions of financial terms often used in healthcare will be identified. Different types of budgets and budget preparation will be reviewed. The role of the nurse manager in the budget process will be discussed in detail, as well as ethical issues associated with budgets in healthcare.

Reading Assignment

Sullivan: Chapters 14, 15, 16
American Nurses Association Policy Statement on Workplace Advocacy:http://nursingworld.org/MainMenuCategories/HealthcareandPolicyIssues/ANAPositionStatements/workplace.aspx (Links to an external site.)

Overview

Budget and Finance

 Financial issues in healthcare often seem remote to the nurse and the nurse must have an understanding of financial matters of the health care delivery system, including the viability of the workplace, and the opportunities to optimize healthcare for the welfare of their patient. Key behaviors needed by nurse managers and those who care for groups of patients is ability to: understand the budgeting process; recognize general types of budgets; distinguish between direct and indirect costs; be familiar with the steps of a typical budgetary process and cost out nursing services. Different types of budgets include: operating budget, performance budget, capital budget, expense budget, zero-based budget, product line budget, cash budget. Operational plans, cost center, expense, revenue and profit are other key concept that will be addressed in the readings.

Determine the most significant requirement of an effective solution to interoperability

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DETERMINE A SIGNIFICANT CHALLENGE THAT HEALTH CARE ORGANIZATIONS WILL FACE WHEN CREATING AN INTEROPERABLE SYSTEM.

Elaborate on the trend of interoperability of health care management information systems. Determine a significant challenge that health care organizations will face when creating an interoperable system. Justify your response.
 
Suggest a significant benefit of interoperability that is the result of the SAPHIRE project. Provide support for your rationale.
 
“Solutions to HMIS Issues”  Please respond to the following:
 
Determine the most significant requirement of an effective solution to interoperability. Provide a rationale for your determination.
 
Suggest a significant challenge of applying WSIHS to health care management information systems (HMIS), and indicate how the challenge may be mitigated.

Describe the health care system and the role of marketing.

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DETERMINE THE DIRECT IMPACT OF MARKETING FOR THE HEALTH CARE

 Marketing and the Health Care System
 
Select a health care provided with which you are familiar and write a four to six (4-6) page paper in which you:

  1. Determine the direct impact of marketing for the health care provider you selected.
  2. Outline a strategy for the health care provider you selected to determine the utilization of its products or services.
  3. Outline a marketing strategy for the health care provider you selected.
  4. Recommend at least three (3) separate ways the health care provider you selected could shape the buying decisions of its customers.
  5. Provide at least three (3) qualified sources, e.g., peer-reviewed journals, professional organization Website, or health care provider Websites.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Describe the health care system and the role of marketing.
  • Analyze the competitive environment of a health services organization and identify a course of action that will allow for strategic marketing success.
  • Use technology and information resources to research issues in health services marketing.
  • Write clearly and concisely about health services marketing using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills.