...Financial Ratios Analysis and Comparison Paper Dianne Davis MHA 612 Professor Johnson June 7, 2014 Abstract It is important for healthcare organizations to understand their present performance and weak areas in order to generate more effective operational strategies. Financial ratio analysis is an effective tool to determine hospital’s performance on several indicators such as ability to pay debt, capability to generate revenue, and sales performance etc. The objective of this paper is to describe role of different financial ratios in understanding organizational performance and in developing new strategy. The paper also presents comparative ratio analysis of local healthcare organization and industry norms. Financial Ratios Analysis and Comparison Paper Introduction Financial planning and effective management play a major role in success of healthcare business. Financial ratio analysis refers to an effective financial management tool that helps in understanding financial performance of the hospital over a period of time. Financial ratio informs about the financial trends and information on key performance indicators that helped in strategy making. Financial ratios can also utilize in comparing business performance of two or more hospitals, and also to assess effectiveness of management. Financial ratios utilized in measuring liquidity of the hospitals, profit evaluation, debt structure, management of cash flow, risk determination...
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...Operations Management and Healthcare Nicholas Drzycimski Operations Management SCMS 3510-003 University Of Memphis November 9, 2015 Introduction Most people would agree that access to healthcare is an issue with definite room to improve; there are constant demands from both taxpayers and the society for change. Organizations which provide healthcare are faced with economic limitations and constraints, long waiting times and queues of patients. Healthcare organizations are also affected by strict budgets that prevent them from procuring additional resources. One solution to combat all three of these constraints simultaneously would be to implement ideas and concepts from the Operations Management field of business. The most effective concept would likely be Lean production, that is, limiting as much waste as possible while using what resources are on hand to their most effective state possible. Of course, this is a very difficult goal to achieve when dealing with the unpredictability of day-to-day operations at a hospital, but measures can and should be taken to limit as much waste as possible and maximize efficiency of resources used. While new ways to implement more ideas and concepts of Operations Management into the healthcare industry are constantly being researched, there are aspects and tasks that are performed in a Hospital that can be considered the operations of a hospital. The goal of this paper is to explain some of these operations of a hospital...
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...Journal of Biology, Agriculture and Healthcare ISSN 2224-3208 (Paper) ISSN 2225-093X (Online) Vol 1, No.2, 2011 www.iiste.org Financial Analysis of Selected Pharmaceutical Companies in Bangladesh Md. Tofael Hossain Majumder Department of Accounting and Information Systems, Faculty of Business Studies Comilla University, Comilla, Bangladesh. Email: tofael_cou@yahoo.com Mohammed Mizanur Rahman School of Business and Economics, Atish Dipankar University of Science and Technology Dhaka, Bangladesh. Email: mizancu@yahoo.com Abstract The Pharmaceutical industry plays a vital role in the socio-economic development of Bangladesh. But the net profit of this industry has decreased for the last few years. This study is designed to review the financial performance of this industry, to test its strengths and weaknesses. The financial performance of this industry is measured in terms of Ratio (Profitability, Liquidity, Solvency and Activity ratio) Analysis and in terms of Testing Financial Soundness by using Multivariate Discriminate Analysis (MDA) as developed by Prof. Altman. For the source of data mainly relied on Annual Reports and official records. It was observed from the study of the financial statement of the Pharmaceutical industry that the profit earning capacity, liquidity position, financial position and the performance of the most of the Pharmaceuticals are not in sound position and it was also observed that the most of the Pharmaceuticals has a lower...
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...Research Paper: Healthcare Services and The Affordable Care Act (ACA). Table of Contents: Abstract……………………………………………………………………………………...3 Introduction………………………………………………………………………………….3 Background of the Affordable Care Act …………………………………………………4 The Affordable Care Act………………………………………………………………….. 5 Methodology………………………………………………………………………………...8 Collection of Data…………………………………………………………………………..9 Primary………………………………………………………………………………10 Secondary…………………………………………………………………………..11 The Environmental Working Group………………………………………………………12 Primary Survey…………………………………………………………………….13 Questions and Answers…………………………………………………………...14 Findings from the collection of information and data…………………………………..15 Conclusion and recommendations……………………………………………………….17 Appendix A: SWOT Analysis……………………………………………………………..19 Appendix B: EWG’s Business Strategy …………………………………………………26 Appendix C: EWG’s Business Analyses………………………………………………...32 Appendix D: References…………………………………………………………………..37 Abstract Healthcare has been a topic of debate since a long period of time. The recent changes in the government legislation have specified some employer-based requirements for the healthcare provision to employees. Many organizations have also been impacted by the legislative amendments. The following section will cover the introductory knowledge of the Affordable Care Act along with its objectives. Furthermore, we will discuss the impact of this act has on the American society...
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...Introduction United Healthcare comes under UnitedHealth Group, the largest healthcare industry in United States. It was established in the year 1977. United healthcare’s goal is to provide quality healthcare to all its members and better serve all the users (physicians, members, employers) with better functionality (tools, services, health benefit plans etc). Strategy Information Systems plays an important role in United Healthcare, as a implementer of business strategy and source strategic advantage/resource. The striving effort of United HealthCare is to provide public with better tools, services and products by conducting innovative research that improves the quality of healthcare and admits to user needs. United Healthcare mainly focuses on delivering quality of health care to its customers. UHC came up with a new strategy called Bridge2Health; an integrated approach which helps users to gain better health. This approach allows the physicians to know more about the member’s health information which helps them to take better decision and provides appropriate guidance. UHC started a new program which assists users in searching for physicians and hospitals depending on their specialization and rating; this reduces users time and cost. The program was mainly established to support users from not being wrongly diagnosed with poor quality care. It consists of “712,622 health care professional (physicians), 5,594 hospitals and 64,000 pharmacies [1]”. This large network allows...
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...Superdrug: SWOT analysis Please Read This Carefully First!!! The intended purpose of Our research papers is that they are used as models to assist in the preparation of Your own research papers. We neither endorse nor tolerate any form of plagiarism, whole or partial, and will not engage in any activity that facilitates cheating. Papers For You or its affiliates will NEVER sell a model paper to ANY student giving us ANY reason to believe that (s)he will submit our work, either in whole or part, for academic credit at any institution under their own name!!! PLAGIARISM IS A CRIME!!!! By purchasing research papers from Us you undertake not to pass off or submit (for any purpose whatsoever) all or any constituent part of the Paper commissioned by You, from Papers For You, as your own work or that of a third-party. In addition, You undertake not to carry out any unwriterised distribution, display, or resale of the Paper and will deal with the Paper in all respects in a manner which is consistent with any copyright, database right and other similar rights or obligations (i.e. 'Intellectual Property Rights') of Papers For You. In the event that We, in our sole discretion, believe that a Paper is being used in breach of our Intellectual Property Rights or of any or all of your undertakings in this Agreement, We fully reserve the right to refuse to carry out any further research or to accept any further Orders from You or on your behalf. You accept and acknowledge that We provide all...
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...Emma Pitchforth2 and Susan F Murray3 Abstract National and transnational health care systems are rapidly evolving with current processes of globalisation. What is the contribution of the social sciences to an understanding of this field? A structured scoping exercise was conducted to identify relevant literature using the lens of India – a ‘rising power’ with a rapidly expanding healthcare economy. A five step search and analysis method was employed in order to capture as wide a range of material as possible. Documents published in English that met criteria for a social science contribution were included for review. Via electronic bibliographic databases, websites and hand searches conducted in India, 113 relevant articles, books and reports were identified. These were classified according to topic area, publication date, disciplinary perspective, genre, and theoretical and methodological approaches. Topic areas were identified initially through an inductive approach, then rationalised into seven broad themes. Transnational consumption of health services; the transnational healthcare workforce; the production, consumption and trade in specific health-related commodities, and transnational diffusion of ideas and knowledge have all received attention from social scientists in work related to India. Other themes with smaller volumes of work include new global health governance issues and structures; transnational delivery of health services and the transnational movement...
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...EMR Research & Opinion Paper Produced by: Jeremy Averella EMR Course Fall 2013 EMR Research & Opinion Paper Produced by: Jeremy Averella EMR Course Fall 2013 TABLE OF CONTENTS I. Advantages of EHRs 2 a. Cost Containment 2 b. Empowerment 3 c. Improved Communication 4 d. Less Waste 4 e. Compliance 5 II. Disadvantages of EHRs 6 a. Lack of Standardization 6 b. Security & Privacy Concerns 7 c. System Infrastructure Issues 8 d. Risk of Liability and Patient Uncertainty 8 III. EHR Technology 9 a. EHR Benefits 10 b. EHR Types 11 c. EHRs Future Evolution 13 d. EHR Technology versus Handheld SMART devices 14 IV. Trends and Consequences 15 a. Aggressive Implementation 16 b. High Costs 16 c. Labor Investment 17 d. Opportunity Cost 17 e. Impact on Researchers, Policymaker and Educators 18 V. Final Opinion 19 VI. Bibliography 22 VII. Appendix I 28 VIII. Appendix II 31 I. Advantages of EHRs In an effort to reign in rising health care costs and increased health care disparity and inequality in the U.S., former president George W. Bush doubled the funding for Health Care Information Technology to 100 million in 2005 (The White House). It was part of a larger plan to utilize latest information technology to standardize patient and health records, which despite spending 1.6 trillion dollars, attributed to 98,000 medically related errors in 2004. The plan was part of his campaign promise and was reiterated in his January 20...
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...Cloud Computing in Healthcare |Ayesha Asif |………. |Noorulain Ashraf | |Department of Software Engineering |Department of Software Engineering |Department of Software Engineering | |Fatima Jinnah Women University |Fatima Jinnah Women University |Fatima Jinnah Women University | |Rawalpindi, Pakistan |Rawalpindi, Pakistan |Rawalpindi, Pakistan | |Ayesh_15_94@yahoo.com |abc@xyz.com |noorulainkhaan@gmail.com | Abstract – Healthcare Delivery Organizations (HDOs) are facing a number of problems due to their mode of operations. Amongst the problems are improper modes of data storage, insecurity of medical records, difficulty in accessing healthcare services, high cost, and inaccurate diagnosis. Recently research has identified Cloud Computing (CC) as a new and substantial business model capable of providing efficient services that can benefit the healthcare industry. The aim of this paper is to study the existing cloud computing applications in healthcare industry and propose optimal techniques and solution on the basis of analysis. Keywords – Cloud Computing (CC); Healthcare Information Technology (HIT); Healthcare Organizations (HCOs);...
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...METHODS OF FINANCIAL ANALYSIS Dorothy E Vincent-Greene ACC 281 Accounting Concepts for Health Care Professionals Professor James Bell 26 MAY 2014 The process of restating and summarizing data by establishing ratios and trends is known as a financial analysis. The financial statement analysis is the process of examining and identifying the relationships among financial statement elements and making comparisons with relevant information. The analysis is a powerful tool used by a variety of people like creditors, investors, and managers, etc. who all have different reasons for learning about the financial circumstances of an organization (Financial Statement Analysis, 2014). There are a variety of tools that can be used to evaluate the financial statements data. The three most commonly used tools are the ratio analysis, horizontal analysis, and vertical analysis. In this paper I plan to evaluate these three methods and discuss how the financial information is used to make certain business decisions, while giving an example that may be seen in the health care arena. The ratio analysis is a method of analyzing data to determine the overall financial strength of a business. The broad method by which the financial data is converted into simple mathematic ratios for comparison makes it easy very user friendly. An advantage to this method is that it can be used by anyone with access to organizations public financial statements since the data is widely available. Calculations...
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...Case Study: Partners HealthCare Systems Case Study: Partners HealthCare Systems Partners HealthCare is a non-profit, health system located in Boston that created a data based transformation (Davenport, 2013). It integrated a new system that aligned the participating organizations to cohesively run as one and to help shape the future of the organization. The system didn’t stop there as it was responsible for bettering the patient financing experience and the delivery of healthcare information to other organizations (Davenport, 2013). The initial goal of the organization was making patient care more affordable and accountable by providing integrated, evidence based, patient-oriented care. Problem Identified Partners HealthCare, which was created by major contributing hospitals and medical facilities in the Northeast, initially began as a way to focus on the patient needs; however, the company soon found themselves separating from their initial goal. There was more than one problem identified within the realms of the company. There are three main issues that this case study produced. The first outlying issue is called Alert/Warning Fatigue (Davenport, 2013). This derives from alerts that were placed in the system to warn doctors of notices that could be anything from mixing prescriptions to simple notifications that most doctors already knew or was not in their field of study. A second issue that requires resolution to create a successful working system is the sense...
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...Healthcare IS Definitions Termika R. Stone HCS/ 533 Health Information Systems May 30, 2011 Professor Linda Mesko The health industry has been under major construction in its efforts to catch up in this age of technology. These efforts are referred to as Health information technology (HIT). HIT imparts the architecture to explain the complete management of health information throughout the various computerized systems. It safeguards the exchange between government, quality entities, customers, suppliers and insurers. Health Information Technology is now viewed as a very promising agent for enhancing healthcare quality, protection and a well-organized and resourceful healthcare delivery system. This assignment has ten terms that fall under the scope of HIT and Health Information Systems (HIS) that are interconnected. Each term will be defined and a concise statement of importance will be explained. AMR • AMR (Automated Medical Records) is a term used at the early stage of electronic medical documentation. It was information retained on a customary personal computer and did not comply with legal ramifications for electronic medical records. Therefore a paper file was maintained. The computer information is used as a working file, and then pages are printed and filed in the chart (Fishman, 2005). • Important aspect of AMR is the aid of premature discovery of conditions of public health issues. For instance, seasonal respiratory illness or atypical occurrences...
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...Applications in Healthcare Hian Chye Koh and Gerald Tan A B S T R A C T Data mining has been used intensively and extensively by many organizations. In healthcare, data mining is becoming increasingly popular, if not increasingly essential. Data mining applications can greatly benefit all parties involved in the healthcare industry. For example, data mining can help healthcare insurers detect fraud and abuse, healthcare organizations make customer relationship management decisions, physicians identify effective treatments and best practices, and patients receive better and more affordable healthcare services. The huge amounts of data generated by healthcare transactions are too complex and voluminous to be processed and analyzed by traditional methods. Data mining provides the methodology and technology to transform these mounds of data into useful information for decision making. This article explores data mining applications in healthcare. In particular, it discusses data mining and its applications within healthcare in major areas such as the evaluation of treatment effectiveness, management of healthcare, customer relationship management, and the detection of fraud and abuse. It also gives an illustrative example of a healthcare data mining application involving the identification of risk factors associated with the onset of diabetes. Finally, the article highlights the limitations of data mining and discusses some future directions. K E Y W O R D S ■ ■ Healthcare management...
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...for your dead end job. You drive in the same traffic and start at the same shift. When you get to work you check the schedule and have to work with John one of the most annoying and flamboyant workers there. Your job as filling tech at a mail order pharmacy is getting pretty exhausting because it gets really busy, and there aren’t any positions to move up for. The totes then start coming down the line, and they quickly get stacked up, because your counterpart is late as always. You then start working harder and faster and within 30 minutes of your shift you get approached by a pharmacist stating you gave the incorrect quantity. Frustrated about the mistake you stop everything you are doing and correct it. As the totes and order start piling up you then John finally comes in, and starts to smartly comment on the amount of work that has piled up. In your head you say “well if you weren’t late this wouldn’t have happened”, but you decide to brush it off and stay professional. It’s now time for lunch, and during that time the company does announcements. While eating you food they announce that John has been promoted to floor supervisor. Shocked and appalled you try to hide you try emotions, you approach John and congratulate him. You then ask him, what qualifications are needed to become supervisor and he stated a bachelor’s degree and experience. You then realize that the only way to get promoted in this day in era is to go to school Goals are very important aspect...
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...Electronic Health Records: Impacts on the U.S Healthcare Industry Blake Redco 28 Feb 2016 Abstract The patient health record, serves “to recall observations, to inform others, to instruct students, to gain knowledge, to monitor performance, and to justify interventions” (IOM, 2014). Beginning in the latter half of the 20th century and continuing through present-day, patient health records have increased in use and function. A significant portion of patient records, treatment history, and medication data are still stored in paper format however, and full transition to digital formats is likely decades away, or may not be achieved for many more years to come. This text will examine the modern electronic health record (EHR), and how it impacts, and is impacted by, the U.S. healthcare industry in political, technical, and economical environments. The focus on how and why the transition process is occurring, and the challenges therein, will be prevalent throughout examination of the three environments. This is a subjective description, although not comprehensive exploration of factors surrounding the HER, and is not to be taken as criticism or advocacy of any component of U.S. health care policy and/or practices. In each of the environments described below, efforts have been made to provide considerable and timely data, as well as references to influential industry literature and legislation. However, due to the dynamic nature of policies and mandates, technologies, and...
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