...Memorandum To: Dr. Robert I. Grossman, CEO NYU Langone Date: November 7, 2012 Re: Restructuring Health Care Payment and Improving Quality The U.S. devotes a much larger share of its national income to health care than any other country in the world. However, the gross over-spending has not yielded the healthiest population (OECD Health data, 2009). Our economy is continually growing at a lesser rate than healthcare spending. The need to restrain this unsustainable growth in health care costs is often overlooked in favor of reform focused on expanding access to care. Attention must be focused on restructuring the payment process with the goal of reducing costs without sacrificing quality. With an aging population comes chronic conditions that require efficiently coordinated care. About 10 million Americans require long term care, 42% of which are under 65 with disabilities or chronic illness (Rowland, 2009). It is also not uncommon for chronic patients to receive duplicate testing, conflicting treatment advice, and expensive prescriptions from multiple practitioners. The Medicare system was a fee-for service payment plan, until a prospective payment was introduced. A contributing factor to the problem has been the trending of hospitals and insurers to better cover acute episodes rather than preventative or ongoing care. For example, the average length of stay is down from less than 8 days in the 1970s to 4.6 days in late 2000’s. In a similar trend, gross outpatient...
Words: 1335 - Pages: 6
...caused strikes and losses. Dealings with UAW: To improve employee morals:- IH gave out many small incentives to UAW to stop the strikes. Which gave excessive freedom and unnecessary incentives? IH completely failed to handle. Failed to give information to the employees. Unable to control they and specially IH forgive the big loans for senior managers and CEO nearly 2 million. Employees don`t even know company is in trouble. Removed half of its employees. These actions of the company destroyed the prestige and trust of the employees. Loosing market share. Handling the economical recession. Big strikes effected the production and market. Harvester main strategy in this period was to supply the market. Eventually loosed markets to competitors and posted losses continuously .losses was nearly 3 billion. Same Time Company was struck by recession. Unable to recover. To save company from bankruptcy. In 1982 Harvester showed 1.6 billion loss in one year .Losses, strikes and recession had wiped out nearly all of its remaining equity and used up most of its working capital. Donald Lennox took over the ceo post and James Cotting CFO of harvester that time was given the job of putting the IH financial house back. Company sold of the many operations and they had the support of...
Words: 993 - Pages: 4
...majority of health care spending in the U.S. Identify and discuss three ways we could potentially reduce spending on chronic diseases while improving health status. Chronic diseases account for 75% of the nation’s health care spending. Chronic conditions are expected to last a year or more, bestow limits upon the patient’s, and may require ongoing care. They are significant and presently a growing challenge in the U.S. health care system. People with chronic conditions have significantly higher health care costs. It is expected that by 2020, U.S. will spend $685 billion annually on chronic diseases medical costs. By 2015 nursing homes and home health care costs will double to $320 million. There are five conditions accounted for one half of the increases of health care spending. They include: heart disease, pulmonary disease, mental disease, cancer, and hypertension. Alzheimer’s and Diabetes will soon past these as the most common chronic diseases. Health literacy is a way we could potentially reduce spending on chronic disease while improving health status. Health literacy is defined in the National Library of Medicine as “the degree to which individuals have the capacity to obtain, process, and understand basic health information and services necessary to make appropriate health decisions”. Examples of understanding basic health information would be the ability to understand instructions on prescription drug bottles, comprehend medical forms, appointment slips, etc. Health literacy...
Words: 1213 - Pages: 5
...Information Technology in Health Care By: Antonio Ross Southern Illinois University at Carbondale HCM-20 Health Policy, Professor Swain Abstract Health care reform has reemerged as a policy imperative. Congressional discussions regarding sizable federal investments in health information technology (IT) infrastructure have revitalized the vision of health IT as a critical component of accelerating improvements in the quality and value of health care for all Americans. Policymakers will be challenged to link investments in the health information infrastructure to the objectives of health care reform. The purpose of this paper is to articulate on why it is important to increase the likelihood of achieving high-value health care with the aid of health IT. Although the healthcare community has been clamoring for integration of its IT systems for decades, the industry is still in a rather elementary stage when it comes to useful and practical systems integration. Many think that the systems don’t support shared identities; they’re too focused on structured data, and that they don’t produce enough common output in a security-friendly way. However, by leveraging the Common Security Framework, healthcare organizations can now better manage risk; save time and expense that would be spent in determining their requirements and in auditing business associates; and increase information protection while better managing information security related expenses. Healthcare organizations...
Words: 2980 - Pages: 12
...the leadership of new CEO, Edward Murphy, M.D., the efforts of a mid-Atlantic acute-care hospital system to develop a vertically integrated clinic health system result in allegations of antitrust, excessive healthcare costs, disruption of physician referral patterns, and use of harsh collection practices, all of which cause a negative reaction in the community. Also, Dr. Murphy’s efforts to become a comprehensive vertically integrated system have continued: establishment of a medical school partnership, expansion of its facilities, and increase in number of salaried physicians by purchasing private practices. Dr. Murphy asserts that the business plan of Carilion Clinic will moderate the effects of the “broken” U.S. healthcare system by integrating services that range from primary care to comprehensive cancer treatments and remission monitoring. In 19th century, the antitrust division of the U.S. Department of Justice sought to block the merger of two medium-sized community hospitals, foreshadowing other, somewhat questionable trade practices in the Shenandoah Valley. Carilion Clinic is a major employer in Roanoke, Virginia, but members of the community base expressed serious concerns about its methods and policies. The harsh collection practices of organization caused some patients to have liens placed on their homes, economic pressures on group practices to sell or relocate due to internal referral patterns, and allegations that the high costs of care may...
Words: 3464 - Pages: 14
...worst health indicators, with high rates of cancer, obesity and death due to heart disease and stroke. Kentucky is one of the poorest states in the nation with more than half of the state medically underserved, especially in poverty-stricken areas where there is a shortage of doctors. It is projected that in ten years, Kentucky will have a major shortage of doctors to care for and cover the area. It’s too big of an issue to go unnoticed by all healthcare affiliates in the state. Kentucky One Health, formerly Jewish Hospital & St. Mary’s HealthCare, Saint Joseph Health System, along with the University of Louisville Hospital and James Graham Brown Cancer Center, has made it a goal to improve the health of Kentucky. Jewish Hospital sets in downtown Louisville Kentucky and was founded in 1905. Jewish Hospital is a non-profit organization and is highly known for many firsts such as the first in hand transplants along with being one of the first in AbioCor™ Implantable Replacement Heart transplant. “Today, Jewish Hospital is a 462-bed, internationally renowned, high-tech tertiary referral center, developing leading-edge advancements in a vast number of specialties and services” (Jewish Hospital, 2015). It is believed that for the people of Kentucky to continue to receive quality care and to be the leader in healthcare services, Jewish Hospital HealthCare Services (Jewish Hospital & St Mary’s Elizabeth) needed to merge with Catholic Health Initiatives (St Joseph Health Systems)...
Words: 1160 - Pages: 5
...HCR/230 April 08, 2012 Jetonga Keel Financial Policy and Procedure Jasper Rural Clinic Policy All of our staff is here to help you in any way possible. We are here to make sure your visits are pleasant and professional. Our policy is to make filing your claim easy. We will file your claim for you. Payer will send the payment to our office to save time and money. You the patient are responsible for all charges. Patients who receive the payment from their insurance company may be asked to pay in advance. Our staff will answer all your questions if possible. * Co-payments are due at the time of your visit, if you do not have the co-pay you will have to make a new appointment. * Deductibles will be disguised at the time of visit. If a procedure is not covered by your insurance we will inform you before the procedure is done. You the patient can decide if you want to pay for the procedure. * Past due payments may cause the office to refuse to see you. After 120 days we will send your bill to a collection agency. * Per-arrangement payments can be set up to help cover a procedure that your insurance company will not pay for or to cover co-payments for other visits. * Patients with no insurance will be required to pay the office and doctor visit in full at the time of service. Or fill out a financial assistance form for low income patients. You are still responsible for the bill until you are approved. Our Rural Clinic Office is HIPAA compliant. We make sure all...
Words: 820 - Pages: 4
...oikos Case Writing Competition 2013 Social Entrepreneurship Track 3rd Place Ziqitza Health Care Limited: Responding to Corruption N. Craig Smith and Robert J. Crawford, INSEAD This is an Online Inspection Copy. Protected under Copyright Law. Reproduction Forbidden unless Authorized. Questions relating to permission should be directed to: craig.smith@insead.edu Copyright © 2013 by the Authors. All rights reserved. This case was prepared by N. Craig Smith and Robert J. Crawford as a basis for class discussion rather than to illustrate the effective or ineffective handling of an administrative situation. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form by any means without permission. oikos case collection http://www.oikos-international.org/academic/case-collection/ oikos Case Writing Competition 2013 3rd Prize Introduction After a monthly staff meeting, a young employee approached Sweta Mangal, CEO of Ziqitza Health Care Limited (ZHL). Sanjay Rafati 1 had been hired as a financial officer the previous month, in November 2011. In view of the company’s strict ethical code, he was nervous about expressing his point of view, which was why he wanted to see Ms. Mangal in private: “The situation in one of the states where ZHL operates is getting critical. Unless the government pays what it owes us immediately, we will not be able to make payroll. We won’t be able to service...
Words: 3484 - Pages: 14
...Reporting Practices and Ethics Krystal Jackson Septemnber 10, 2012 HCS/405 Diana Schilling Large companies need the attention of investors, creditors, and banks to continue to be profitable. The information that these entities receive is product of the generally accepted accounting principles (GAAP) that are practiced by companies to create and release their annual finances. The financial statements allow the outside entities to judge the economic health of the company and from this decide if investments and larger lines of credit are wise. In the United States the Security and Exchange Commission enforce the GAAP although it is not actual law. The GAAP can be broken down into three sections which are assumptions, principles, and constraints. There are four assumptions declare that’s the business is a "separate entity" from its expenses and personal expenses are kept separate. The assumptions also discuss the form of currently that will be used in financial reporting as well as time periods that will be recorded in said statements. There are basic principles that are cost, revenues, principle, and disclosure and these principles require that the business reports what money is spent when something is acquired, and when it is earned and documented. The statements must be matched to the reported revenue and all information to make decisions on the company's finances must be disclosed. Lastly there are four constraints: objectivity, materiality...
Words: 896 - Pages: 4
...Arthur (2014), “When doing an environmental analysis as part of a strategic plan, you have to keep an eye out for growth opportunities. Even if the environmental factors look discouraging, you may be able to find opportunities to grow the business.” The implications of the environmental analysis is to ensure the company is growing in the direction in which the CEO is hoping for. The environmental analysis allows the company to see the growth that is happening and see room for change to go along with the opportunities that are presented as well. Major Benefits of Competitive Analysis Kokemuller (2014), “Competitive analysis is a process of systematically comparing your company, products and services against significant competitors within your industry. This is an important part of strategic planning, which is used to establish company goals, strategies and tactics.” The major benefits of the competitive analysis is it gives the company an inside look of the product they are currently producing and determine if they are providing the best product. In health care the health care facility wants to be able to provide the best health care possible to the patient....
Words: 1275 - Pages: 6
...ABBOTT Laboratories (ABT) Financial Ratio Case Study Company Profile: Abbott Laboratories (ABT) 100 Abbott Park Road Abbott Park, IL 60064-6400 Phone: 847-937-6100 Fax: 847-937-1511 Website: http://www.abbott.com Sector: Healthcare CEO: Miles D. White Number of Employees: 91,000 Major areas of operations: Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Abbott Laboratories (ABT) is an American-based global, diversified pharmaceuticals and health care products company. It employs about 91,000 employees and operates in more than 130 countries around the world. The company headquarters are in Abbott Park, North Chicago, Illinois. The company was founded by Chicago physician, Dr. Wallace Calvin Abbott in 1888. Abbott's core businesses focus is on pharmaceuticals, medical devices and nutritional products, which have been supplemented through several notable acquisitions throughout the years. Its operation is divided into six major divisions: Animal Health, Diabetes Care, Diagnostics, Molecular Analysis (DNA, RNA, proteins at molecular level) and Nutrition along with Vascular Technologies. In 1985, ABT developed the first HIV blood screening test. They also have a broad range of medical devices, diagnostics and immunoassay products as well as nutritional products, including Ensure, a line of well known meal replacement shakes, and EAS, the largest producer of performance based nutritional supplements. ABT’s in vitro...
Words: 2317 - Pages: 10
...Page………………………………………………………………………………….1 * Content page………………………………………………………………………………2 * Introduction of Cerner Ambulatory * What is Ambulatory EHR…………………………..…………………………......3 * What is Health Information Exchange………………………………….................3 * Who is Cerner Ambulatory…………………………………………..............3, 4, 5 * What are the uses for Cerner Ambulatory………………………………………………5,6 * Advantages of using Cerner Ambulatory…………………………………………6 * Disadvantages of using Cerner Ambulatory………………………………………6 * Is the software easy to use by the common worker in a health facility…………6,7 * What is the legality, governance, and privacy of Cerner………………………………….7 * Legal Concerns with liability and other legal issues……………………………...7 * Benefits of using Cerner compared to other software available to health facilities….....7,8 * Inpatient EMR……………………………………………………………..............9 * Patient Management and Accounting……………………………………………..9 * Graphs of data………………………………………………………………..10, 11 * Accomplishing the implementation of Cerner from previous software or paper……….12 * Conclusion……………………………………………………………………………….12 * Footnotes……………………………………………………………...………………….13 * References…………………………………………………………………………….13,14 Introduction Ambulatory EHR is an electronic health record system that works well in a physicians practice rather than a hospital. It works well in this type of facility because there are longitudinal records and internal. This means...
Words: 2078 - Pages: 9
...employ outstanding people. Previous Microsoft CEO, Steve Ballmer once said, “There are many things that are true about Microsoft. We have big goals, big dreams, and big aspirations for the future. We are both competitive with our products and in the way we attract and retain talent. For me, the most important factor is competition for talent, because I know our success comes from the people who work here” (Foley). Listed at number 76 on Fortune Magazine’s 2012 “100 Best Companies to Work For”, the survey lists the average annual pay for salaried position as $132,023, and for hourly as $61,245 (Fortune). The most common salary job is Software Development Engineer, and the most common hourly job is Business Support (Fortune). There are currently 100,932 employees worldwide, with 59,197 of those employees being in the United States (Career). As with any company, Microsoft works hard to provide a compensation and benefit system that will attract and retain quality employees, while also choosing incentives and perks that will set them apart from competing firms such as Google, Apple, Oracle, and Facebook. According to Microsoft’s website, they are widely recognized as a leading company for offering one of the strongest and most comprehensive compensation and benefits packages in the country (Benefits). Their compensation package boasts competitive pay, bonuses, and stock awards (Benefits). Microsoft offers a very comprehensive health benefit plan that includes medical, dental...
Words: 1662 - Pages: 7
...Why Was the American Hospital Association (AHA) So Interested in the Creation of the Affordable Care Act? The Affordable Care Act (ACA) was a tremendously significant piece of health care legislation, particularly for hospitals that had much to gain—or lose—depending on the type of reforms implemented. Hospitals are under increasing pressure to cut costs and control spending. This reality, combined with the struggling economic climate, has made hospitals particularly concerned about how health reform will affect their bottom line. Thus, the American Hospital Association (AHA), the national organization that represents nearly 5,000 hospitals and health care networks in America, as well as 40,000 individual members, has a clear vested interest in health care reform, as it could change everything from hospital administration to patient care delivery to profitability. Since 2008, the AHA has made sure to involve itself in the policy details of the ACA, as well as the political process that led to its passage. In 2009, the AHA spent more than $7 million dollars on its Washington lobbying campaign, ranked near the top spending in the industry. Tom Nickels, the AHA's senior vice president of federal relations, heads a team of 28 lobbyists, and the AHA also makes significant contributions to members of Congress and congressional candidates. In 2008 and 2010, the AHA contributed more than $2 million in each year to candidates, with more than $1 million going to Democrats,...
Words: 359 - Pages: 2
...hospitals do for people. The evolution of hospitals is one of the most interesting things (in my opinion) that history has to offer. Long before America was even in existence there were places of care located throughout all of the world and depending on where you lived determined how you would be treated. I am primarily going to focus on hospitals that began in America and how they got to be what they are today. Today people think of hospitals to be so crucial in their lives that they (including myself) cannot imagine what life would be like if we did not have the option of taking our children to the Emergency Room after they had broken their arm in an unfortunate accident with a bicycle. In the past however, the idea of a hospital was often viewed as unwanted and unnecessary for the overall good of the people. During the early establishment of America there were few hospitals around. Those that were around were mainly used as places to house those who were homeless and needed help and to keep those that were sick from spreading their disease. The definition of the very term “hospital” was defined in a very different way. The first real need for a hospital came in the form of the Revolutionary War. Soldiers were getting hurt and people did not want to have the burden of taking care of them in their homes nor did they have the skills. This type of hospital was known as a military hospital...
Words: 6014 - Pages: 25
