...Health Care Spending Analysis Y Grand Canyon University: HCA-530 November 19, 2014 Health Care Spending Analysis Health care spending in the United States has been on a steady rise with no signs of slowing down. It is also the highest among developed countries in the world. Although Americans spend the most on health care, this does not translate into the best care available. Many developed countries outrank the U.S. in quality and access of care. Before the Affordable Care Act came along, many individuals and families would forgo purchasing insurance premiums due to the high costs and only utilize emergency rooms when in need of care. Health care reform ideally will address the millions who are without health insurance and provide a higher standard quality of care. The reform of the health insurance system aims to reduce national spending by making changes to the law to incentivize health care providers and organizations to reduce unnecessary spending and focus on increasing access to meet the new demand of the newly insured. Profit vs. Non-Profit Consider for a moment that the majority of health services spending is done by non-profits. These same non-profit organizations are now held to a higher standard, specifically, what exactly they are doing to serve the underserved in their local markets. Recent healthcare reform is a mixed blessing for non-profit and for profit hospitals. Over 30 million Americans previously uninsured Americans will now have the ability...
Words: 1085 - Pages: 5
...Analysis of Contemporary Health Care Issue Katy Sforza Grand Canyon University: HCA - 530 2-5-13 Analysis of Contemporary Health Care Issue National health care expenses in the United States have been on the rise more rapidly than the national financial system for countless years, however several United States citizens are still lacking adequate health care. Sadly, health care spending is only going to rise and many people in the United States may have to make complicated decisions involving health care and additional responsibilities in their everyday lives if we do not start to reform. By reforming, it is hoped that America will see an increase to high-quality, affordable health care for all. Not only are private sector insurances enduring challenges due to health care spending, but Medicaid and Medicare are also. The Health Care Reform Act is hoping to drive down the cost or at least maintain the cost of health care spending. The reform is hoping to offer a delivery system that works better for clinicians and provider organizations by reducing their administrative burdens and helping them collaborate to improve care. The achievement of this reform will hopefully lead to assessable development in outcomes of care, and in the general health of the American people. Profit/Non-profit Although the provision of health services is dominated by not-for-profit organizations, there are many for-profit organizations as well that are affected by health care spending...
Words: 851 - Pages: 4
...Running Head: Non-Profit to Profit Making Plan Non-Profit to Profit Making Plan Assignment Two Strayer University HSA 505 Health Services Strategic Marketing Non-profit and for-profit hospitals come with their own set of rules, regulations, and expectations. They both work financially differently and it is known that for-profit hospitals generate millions of dollars in revenue every fiscal year. This is not the same for non-profit hospitals. Non-profit hospitals work with what the state and federal government allots them and they do not make money hand over fist. The obvious motive for turning a non-profit hospital into a for-profit hospital is for money. This paper will address the external and internal factors that influence decisions, the theory and practical framework of data, market segmentation, and analyzing of data for the switch from non-profit to for-profit hospitals. Describe the external and internal factors that influence the executive team’s decision making and specify which might be most instrumental in making the decision to become a for-profit entity. Why do you think so? It is imperative to understand the differences of internal and external factors, especially in terms of decision-making due to the fact that a problem has to be recognized in order to establish a next crucial step. In this instance the next crucial step is the decision to move from a non-profit to a for-profit entity. Within this move both internal and external factors...
Words: 1557 - Pages: 7
...Economics of an Urgent Care Center in a Market of Emergency Departments One of the contributors to the rising cost of Healthcare can be attributed to the over use of emergency departments (EDs) for non-emergency needs. In the greater Capitol/First/Beacon Hill area there are three major hospitals (Virginia Mason, Harborview, and Swedish) with emergency rooms and no urgent care centers with the exception of Group Health which is restricted to Group Health insurance members. The question I asked myself is, “Why does Group Health have urgent care for their insurance plan members and the major hospitals in Seattle do not.” Urgent vs. Emergency Care A study by the CDC showed that approximately 70 % of emergency department visits can be treated in a typical primary care or urgent care setting and another study by National Center for Policy Analysis demonstrated that only 13% of patients that sought treatment in the emergency department were clinically appropriate. Reasons for non-emergency visits to the ED range from access issues to primary care providers (wait times, no primary care provider assigned, or no insurance) to a lack of knowledge that they could have been treated at an urgent care or primary care setting. There are good reasons to visit the emergency department: * Trauma due to an accident or assault | * A wound that will not stop bleeding | * Shortness of breath | * Vomiting blood | * Chest pain | * Sudden loss of consciousness...
Words: 1654 - Pages: 7
...demanded for a good rises as the price falls, with all other things staying the same. The law of demand also states that if factors remain equal the higher price of goods, creating a lesser demand for the product (Getzen, 2007). Current issues such as health care and the effects on the economy are subjects that could be assessed through economic tools and concepts. The United States of America spends billions on the health care industry. This has proven to cause a negative effect on the United States economy, for example, this has brought about inflation and unemployment and definitely not suitable for economic growth and development. These negative aspects affect sectors of the economy households, corporate markets, and the government, and an essential role in the financing and funding the United States health care system. The local and federal government collects taxes from individuals and corporations to provide funds for the health insurance programs. Corporations offer employment and issue health insurance to their employees but many individuals viewed as the final consumer incurs some health care costs. The effects of health care expenditure on one sector may affect other interrelated sectors (U.S. Department of Health and Human Services. 2005). Competitors The competition in a particular market arena increases if an existing laboratory chooses to...
Words: 1272 - Pages: 6
...Running head: SUSTAINING EMPLOYEE PERFORMANCE PAPER Sustaining Employee Performance Paper Alejandro Zatarain, Jamie Lewandoski, George Hull SEC/300 March 28, 2016 Chris Bingham In this paper we will be discussing two positions of the Elias Group Organization. The two positions that we will discuss would be the Director of Technical Services and the Director of Administration and HR. We will describing the functions of performance management, suggest two jobs evaluations, compare possible compensations for this two positions and also we will be explaining the importance of providing employee benefit plans to the employees working in this two chosen positions. The two jobs that we as a team have identified for the Elias Group Organization is the Director of Technical Services and the Director of Administration and HR. The Director of Technical Services is in charge of three managers, which are the manager of web services, the manager of information res. and the manager of desktop services. The other position, which is the Director of Administration and HR in this position, they answer to the president of the company and which they answer to the board of directors. In this position the Director of administration and HR is involved with the legal counsel since they have to deal with Human Resources department and administration. The general function of performance management is to promote and improve employee effectiveness. It is a continuous process where managers...
Words: 1576 - Pages: 7
...David Chan Professor Filante Student Managed Investment Portfolio December 21, 2012 Community Health Systems (CYH) Abstract With stock prices almost doubling in the last year, some analyst and investors now believe Community Health Systems may be overvalued and will soon see a price decrease. However, Community Health Systems has very high continual growth potential. Earlier this year, Community Health Systems made an announcement that they will be acquiring another hospital. Acquisitions and mergers have been strength for Community Health Systems, boosting their revenue streams by reforming underperforming facilities. Supplemented by recent improvements in revenue growth in the last few quarters and potential benefits under the second Obama administration, there is a good chance for continued earnings growth. The reasons for my belief will be supported by the explanation of law changes that will benefit the health industry, health care trends, their new acquisition, and total debt. Later I will use a FCFE (Free Cash Flow to Equity) Demodaran discount model to further evaluate the value of the equity of the firm. CYH has been taking on more debt lately and I will discuss the benefits of their actions. Introduction Community Health Systems, Inc. is one of the largest publicly traded operators of hospitals in the United States in terms of facilities and net operating revenues. It was originally founded in 1986, but was later reincorporated as a Delaware corporation in...
Words: 3247 - Pages: 13
...Analysis of Contemporary Health Care Issue National health care expenses in the United States have been on the rise more rapidly than the national financial system for countless years, however several United States citizens are still lacking adequate health care. Sadly, health care spending is only going to rise and many people in the United States may have to make complicated decisions involving health care and additional responsibilities in their everyday lives if we do not start to reform. By reforming, it is hoped that America will see an increase to high-quality, affordable health care for all. Not only are private sector insurances enduring challenges due to health care spending, but Medicaid and Medicare are also. The Health Care Reform Act is hoping to drive down the cost or at least maintain the cost of health care spending. The reform is hoping to offer a delivery system that works better for clinicians and provider organizations by reducing their administrative burdens and helping them collaborate to improve care. The achievement of this reform will hopefully lead to assessable development in outcomes of care, and in the general health of the American people. Profit/Non-profit Although the provision of health services is dominated by not-for-profit organizations, there are many for-profit organizations as well that are affected by health care spending. With the National Health Care Reform Act, both profit and non-profit organizations could see a boost in...
Words: 1722 - Pages: 7
...major issues with respect to the strategy implemented by Tallmart. “ The goal as a company is to have customer service that is not just the best but legendary “ * Sam Walton,Founder of Walmart TALLMART- BUsiness cASE The case talks about the problems being faced by one of the largest non- food retailers in USA, Tallmart. Some of the major issues recognized by us are as follows: 1. No Test Marketing done As a part of the 2013/2020 strategy, Tallmart renovated the entire store design of all its 500 stores. This approach was not justifiable. The new model should have been implemented for around 10% of the stores. This would have enabled them to understand the consumer preferences in accepting the change. Also the revenue from the remaining 90% stores could have been retained. 2. Catalog printing The catalog’s for the clothing line of Tallmart has to be re- printed frequently. The average expense of catalog was $ 15887 per year(refer to cost benefit analysis sheet) As new trends in the clothing line, has to be showcased in the catalog this becomes a recurring expense, and could have been avoided by investing in an electronic catalog which would have been a non-recurring cost. 3. Should not have leased out store space The store space leased / rented out could have been used as a storage space for catalog items. This could have increased the number of items in the ware house. Else this space could have been utilized to generate more business from...
Words: 1160 - Pages: 5
...Case Study 13 Analysis Elizabeth Sapp University of North Carolina at Charlotte The situational analysis of Emanuel Medical Center (EMC) reveals a not-for profit independent hospital located in Turlock, California that is encountering financial troubles as it struggles to remain open. Changes in federal regulations such as the implementation of the EMTALA (Emergency Medical Treatment and Active Labor Act) laws and lower reimbursement rates for federally run insurance programs, changes in service area demographics, and the evolution of the services that locally competing hospitals offer have all contributed to five consecutive negative operating margins for EMC. (Harris, Vogt, & Gilinsky, 2004). Strategic Options Strategic issues are those events that affect an organization and its position within its environment. In the case of EMC the President and CEO, Robert Moen will need to discuss the options available to the hospital with other leaders through strategic planning. This is a process of developing steps for an organization to accomplish its mission and vision through strategic strategies. To make this process a success analyzing and understanding the situation is done by performing an external and internal environmental analysis along with refining the organizations’ directional strategies. In the end, EMC has five possible strategic options including, merging the hospital, selling the hospital, closing the ED, closing the hospital, or doing nothing and trying to...
Words: 3595 - Pages: 15
...Student: Iryna Zaliapska CIPD Course Level 3 Tutor: Tomos Rogers By Student: Iryna Zaliapska CIPD Course Level 3 Tutor: Tomos Rogers By Recording, analysing and using HR information Recording, analysing and using HR information Contents Activity 1 * Two reasons why the organisation needs to collect HR data * Two types of data that is collected within the organisation and how each supports HR practices * A description and benefits of two methods of storing records * A statement of two essential items of UK legislation relating to the recording, storage and accessibility of HR data Activity 2 Analysis and my own findings of the CIPD’s twelfth national survey of Absence Management trends, policy and practice * An introduction to the HR investigation and data interpretation of Absence Management in the organisations across the UK * The obtained results and it follows recommendations References and Bibliography Activity 1 A briefing note about organisation’s approach to collecting, storing and using HR data The Human Resources department collects lots of HR data from its employees. HR systems are increasingly used by HR departments to help collect, store and manage data about its workforce. The organisation needs to collect HR data for a number of reasons, some include: * Legal requirements - to prove that the organisation is hiring at an equal opportunity standard, also, to ensure that and prove that any firing done by the company is...
Words: 3445 - Pages: 14
...Deborah Bennett 01/22/2013 HCA 240 Instructor Moiz Lalani Electronic Medical Records from a Business Perspective In this paper we shall analyze how Electronic Medical Records (EMR) impacts health care organizations from a business perspective, as well as how it may impact profit organizations (versus non-profit organizations) differently. In addition we shall discuss perspectives and responsibilities of the financial management staff, and the basic rules and regulations involved with EMR in which the health care financial management of the organization must address. Starting around 1991 the Institute of Medicine (IOM), known to be the leading innovators concerning medical advances, started encouraging those in the health care delivery system to see the future and accept it, by beginning preparation for instituting electronic medical records. Expounding on the many advantages EMRs would allow facilities and physicians alike; such as, providing for more efficiency, through instant access of a patient’s health history (including all labs, tests and meds prescribed by all doctors for the patient) that is stored on the computer and can be accessed throughout the country, and eventually the world. In turn this would also provide for more effective and less redundant care, and with certain software installed for guiding diagnosis and medicine interactions, could also promote error free treatment and care, avoiding life-threatening episodes in this regard (Haupt, 2011)...
Words: 1221 - Pages: 5
...this proposal, assumptions about the elasticity of demand and the market structure for these medications and expanded services will be included. Additionally, how the expansion will increase revenues will be explained. Further, a rationale for determining the profit-maximizing quantity will be provided. Decisions will be made by using the concepts of marginal costs and marginal revenue to maximize profit. A mix of pricing and non-pricing strategies will be suggested. This proposal will also explore options of creating or increasing barriers to entry. Further, increased product differentiation will be discussed. Finally, other way to minimize costs will be explored. Market Structure and Elasticity of Demand CVS retail pharmacies operate in a monopolistic competition market structure. According to Investopedia (2012), the monopolistic competition is, “A type of competition within an industry where: 1. Firms produce similar yet not perfectly substitutable products. 2. Firms can enter the industry if the profits are attractive. 3. Firms are profit maximizers. 4. Firms have some market power, which means none are price takers. Firms in a monopolistic competition sell goods that have either actual or perceived non-price differences. These differences are not so significant, however, that they climate the potential for substitutes. The cross-price elasticity of demand in a monopolistic competition, therefore, is positive or high. Prescription drugs and retail pharmacies...
Words: 2058 - Pages: 9
...herbs, facial & styling themselves in an exclusive boutique. Sendayu Tinggi design the products that includes product formulation, design, ideas, and marketing to the consumers. In 2000-2004, the production is done by 2 Sendayu Tinggi's manufacturer contract which is Pollensa Sdn. Bhd. & also Ganoderma Nutriceuticals. Sendayu Tinggi now is able to run multiple production comprising capsuling, blistering, and sachet. Sendayu Tinggi also in the process of adding production of tableting, oil, and liquid filling. Moreover, Sendayu Tinggi also ever get the third place in the competition's best cleanliness and landscape around Selangor organized by MPK. Other than that, the company also get the good results for 3 consecutive years for health control inspection by JKKP. Sendayu Tinggi produce products based on the medicinal herbs. There were 3 types of products, which is supplements, facials, and make ups. The supplement product is about the availability which are herbal abstinence products, herbal tea, herbal drink women, slimming drinks, anti-acne pills, slimming pills, supplements, and skin lightening supplements. For facial products, there are collagen and anti-pigmentation product, slimming lotions, UV protection, whitening skin, feminine care, oil and acne care, and many more. While for the makeup...
Words: 7818 - Pages: 32
...Table of Contents Overview………………………………………………………………………………………………..……Page 1 Structure………………………………………………………………………………………………..……Page 3 Economic Situation………………………………………………………………………………………Page 4 Political Situation…………………………………………………………………………………………Page 5 Stakeholders…………………………………………………………………………………………..……Page 7 Non-Market Strategies and Analysis……………………………………………………………...Page 9 Market Strategies and Analysis………………………………………………………………...…Page 11 Economic Analysis……………………………………………………………………………………..Page 12 Political Analysis……………………………………………………………………………………..…Page 14 Evaluation of Outcomes………………………………………………………………………...……Page 15 Works Cited………………………………………………………………………………………….……Page 17 Overview The industry of gambling provides a country’s respective government with large amounts of financial support. Furthermore, gambling is a multi-billion dollar industry worldwide. The misfortunes and losses of people are the monumental and overwhelming gains to government or non-government regulated casinos. The establishment of government owned casinos creates much-needed jobs for citizens as well it creates a flow of profit to the country. This inflow of cash assists the government in completing necessary tasks and is beneficial to the public because taxes are not being raised to complete such tasks. Over the last twenty-five years, the regulation of gambling has become prevalent. There are still many situations in which gambling occurs in a deregulated form such as Internet gambling...
Words: 4196 - Pages: 17
