...Capital Budget Policy and Process Vernita Davis-Knight Susan Friguglietti Edna Primas Ronald Rehn University of Phoenix-Online February 27, 2008 Capital Budget Policy and Process Capital budgeting is the process by which capital investment decisions are made. Capital can be described as an organization’s operating assets (Diamond, Hanson &, Murphy, 1994). The capital budgeting process includes "planning, setting goals and priorities, arranging financing, and identifying criteria for making long-term investments" (Diamond et al., 1994, p. 463). Previously, capital budgets were known as plant and equipment budgets (Berman, Kukla &, Weeks, 1994). As the previous term implies, most capital expenditures are long-term investments for plant or equipment investments. Most, if not all, organizations have limited financial resources and must decide how to invest the financial resources for the best advantage of the organization. Capital investment decisions have a significant impact on the organization since large amounts of the organization’s resources are at risk for extended periods of time. This makes capital budgeting one of the most important decision making opportunities an organization can undertake (Diamond et al., 1994). There are two basic types of capital budgeting projects, independent projects and mutually exclusive projects. The independent project does not affect the cash flow of other projects. That is, regardless of whether the project is accepted...
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...foundation for the organizations structure. They establish all the organizations decisions when strategic planning is necessary. They are liable for finding ways to support the organization. Functions of management also include making sure that all other individuals associated with the organization have the information and understand the strategy; this includes problem-solving, decision making, collaboration, development and cost containment. Although, management strategizes the organizations plans they are also held accountable for the execution and overall outcome of the strategy. A successful outcome for an organization proves great managerial accomplishments. The organization that I am employed is a healthcare facility that specializes in home health aide. The functions of healthcare management apply to me because I am a part of the staff. When a manager specifies a strategic plan, it is my responsibility to help execute the plan hands on. Even though, management does all the strategic planning employees are obligated to the task involved achieving success. Organizations are not only based on managerial decisions but incorporate much-needed teamwork. Functions of management when managing others include decision-making and implementation of policies. A great manager has to ensure that all employees are competent and understand their role in making the organization successful. When managing a healthcare organization you have to relate to each. Amplifying the diversity of health...
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...Long Term Care: A Directional Strategies Report for Interim Healthcare, Inc. Group 6: Jessica Aho, Roger Brenz, Dale Bunton, Kadigah Chess MHA5010 Strategic Health Care Planning Instructor: Matthew Brooks Abstract This document will explore the directional strategies of Interim HealthCare Inc., a long term care facility located in Sunrise, Florida. Our team will analyze the existing stated directional strategies (mission, vision, values, and ethics statement) given by Interim HealthCare and then will offer suggestions of improvement to ensure a foundation necessary for the current strategies of the organization. Long Term Care: A Directional Strategies Report for Interim Healthcare, Inc. Introduction Interim HealthCare, based in Sunrise, Florida, was founded in 1966 and is currently the nation’s oldest proprietary national organization. There are over 300 independently own franchises which employ more than 75,000 health care workers that services approximately 50,000 people daily. Interim HealthCare offers both home care and home health care services to a variety of settings including hospitals, nursing homes, physician offices, prisons, schools, and clinics. In addition, Interim HealthCare also offers hospice services for terminally ill patients in their last months of life to provide the highest degree of comfort and dignity possible using state-of-the-art symptom management for quality care. With the growing need for qualified supplemental health care staff...
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...The Community and Financial Role of the Healthcare Manager What is a Community Health Centers? Community health centers are public or non-profit clinic sites located in medically underserved, rural, and urban areas throughout the nation. They receive grants under the Community and Migrant Health Centers Program of the US Department of Health and Human Services to provide primary and preventive care to community residents. Community health centers remove common barriers to care by serving communities that otherwise confront financial, geographic, language/cultural and other barriers, making them different from most private, office-based practices. CHCs are: • Located in high-need areas identified by the federal and state government as having elevated poverty, higher than average infant mortality, and where fewer providers agree to practice; • Open to all residents, regardless of insurance status, and provide reduced cost care based on ability to pay; • Tailor services to fit the special needs and priorities of local communities, and provide services based on the advice of local residents, businesses, churches, and other organizations; and • Offer services that help patients access health care, such as transportation, translation, case management, health education, and chronic disease management. Health centers are required by law to provide: • Basic health services related to family medicine, internal medicine, pediatrics, obstetrics, or gynecology; ...
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...13 Withdrawal (TD) of a Course 14 Attendance 14 Academic Load 14 Credit Exemption and Transfer 15 Grading System 16 Academic Standing 17 Deferment, Suspension and Termination 18 2 ACADEMIC GUIDELINES ACADEMIC PROGRAMMES MASTER OF BUSINESS ADMINISTRATION (MBA) 20 21 Introduction MBA Course Structure Programme Specifications and Learning Outcomes 23 Course Synopsis 26 21 DOCTOR OF BUSINESS ADMINISTRATION (DBA) Programme Specifications and Learning Outcomes DBA Course Structure 38 41 OTHER INFORMATION REFERENCES UTM IBS Postgraduate Student Society (PGSS) 42 43 3 ACADEMIC GUIDELINES OVERVIEW / BACKGROUND OF UTM The main campus of Universiti Teknologi Malaysia (UTM) is located in a strategic area of 1,177 hectares in the Iskandar Development Region, Johor.UTM has another campus known as the UTM Kuala Lumpur, Jalan Semarak with an area of 18 hectares. The history of UTM began in 1904 as a Treacher Techical School and was later upgraded to a Technical School in 1906. In 1942 the Technical School was upgraded to a TechicalCollege located at High Street (now known as Jalan Bandar) before moving to Jalan Gurney (now known as Jalan Semarak). In 1972 the Technical College became the National Institute of Technology (ITK). On 1 April 1975, it became a university known as Universiti Teknologi Malaysia. PHILOSOPHY OF UTM...
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...management and enterprise systems c .e-Health applications d .strategic decision-support applications Patient applications are very useful in health care organizations a good example would be the development of ITaas of EMC and VMware technologies the mission of VMware is to enhance availability of critical applications that would deliver enhanced patient care distribution and cut cost. The Munson Healthcare has chain of eight hospitals and located in Hopkin, Mass chutes and five clinical in northern Michigan has implemented EMC to transform the IT infrastructure to create innovative IT service. Their own creation of health exchange enables the possibility m for healthcare providers to achieve great levels of patient care through a safe information exchange. The IT organization of Munson felt a need to upsurge reliability and agility, while enlarging its role as a provider of IT –as-a-Service that are capable of providing HIE and EMR capabilities to numerous developing hospitals and physician practices testing centers such as laboratories that are either inside or outside the network (PR,2012) Functions and Capabilities Munson Healthcare use virtual storage to accomplish high availability and shared access of resources within all their facilities. ITaas provides” MediTech EMR applications and e-Clinical Works electronic practice management , and McKennon Hospital information system (HIS) The healthcare providers ‘s private cloud also supports Microsoft Exchange and...
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...Decision-Making Case Study The looming changes in health care are a frequent topic in many meetings with health care providers. Budget cuts are not just a speculation but are a reality. Decision-making to provide quality patient care with less money is a challenge at best. The Informed Decisions Toolbox can assist administrators and managers with evidence-based decisions that will allow patients to receive the quality care they deserve while reducing expenses. The Informed Decisions Toolbox The Informed Decisions Toolbox (IDT) is the result of a research study to aid managers with making evidence-based decisions that improve organizational performance. The IDT has an approach of six steps to decision-making (Rundell, et al, 2007): (1) framing the management question, (2) finding sources of information, (3) assessing the accuracy of the information, (4) assessing the applicability of the information, (5) assessing the actionability of the evidence, and (6) determining if the information is adequate (p. 325). As a facilitator for the use of evidence-based research in decision-making, the IDT assists decision-makers with estimating how operational and strategic decisions will have an effect on the organization. Evidence-based decision-making is not new to the health care industry. Clinicians have incorporated evidence-based research for years when making patient treatment determination. The use of evidence-based research for decision-making in other realms of healthcare...
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...Strategic Planning and Nursing Process Every decision-making process requires the basic steps of problem identification, intervention and evaluation. In healthcare, both the nursing process and strategic planning involve proper identification of a problem, gathering of data, formulating a plan, and deciding which intervention is the best to implement. After the intervention, evaluation is necessary. Strategic planning and the nursing process both are essential when developing medical informatics. The goal of this paper to identify the nurse’s role in both strategic planning and the nursing process, describe the differences between them, and how nurses can become more involved in strategic planning in informatics. Differences Between Strategic Planning Process and the Nursing Process Strategic planning is a process that focuses on the organization’s vision for the future. It is a management tool that aligns the organization’s vision with its mission, values, long-term goals, services, people served and resources. It also includes setting policy guidelines. It is a long-term process, where reassessments are made based on the internal and external changes occurring with the organization. (Hebda and Czar, 2013). Successful strategic planning is vital to the survival of a healthcare organization, given the competitive market and changing health care reforms. Strategic planning is led by the organization’s chief executive officer (CEO) and board of directors and work with a diverse...
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...Term Paper: Strategic Planning & Performance Improvement Carlos N. Green Saint Gregory August 17, 2013 Abstract This paper takes a look at the effectiveness of the strategic plan and performance improvement in the healthcare organization that I have been a part of for the last 13 years. I am knowledgeable of the organizations’ strategic plan and have seen its growth. It will take the side of showing how a local non-profit organization has proven to be effective by many different measures, for example, new structures, new learning facilities, and new upgrades to facilities to offer many more services so that the county can get the best health care locally and may not have to travel to surrounding counties to be served. Show how the organization has gone beyond the road map to show the local residents that when they implemented their new strategic plain in 2008, they knew that it would be just a matter of time before the organization should grow and extend many possibilities to physicians, employees and patients. Main Body Strategic planning and performance improvement calls for the organizations’ growth to meet the needs of its services by improving their quality and services. I have had the opportunity to be a part of this growing organization for thirteen years and to be shown the effectiveness of its strategic plan to offer growth in the community by putting the actions behind their words. A “strategic plan is a tool that provides guidance...
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...Stopping Outshopping Rebecca Jude Strayer University Health Services Strategic Marketing August 17, 2014 Becky Foster Stopping Outshopping In the case study, Scarlett Hospital, a 350 bed not for profit provider of medical and surgical services, was presented a dilemma of the possibility of losing patients. The transportation infrastructure improvements have caused the top executives of Scarlett Hospital to consider the impact a new highway system may have on the facility. Easier access to the larger city of Salem and its healthcare institutions brings the threat of potential loss of consumers to Scarlett Hospital. Timothy Rogers, the president and CEO of Scarlett Hospital, us trusted with the decision of what is the best strategy for the hospital to remain competitive with the larger facilities in Salem. Mr. Rogers’ feels his philosophy to deliver the highest quality of medical care possible will continue to help Scarlett Hospital compete in the more competitive environment. Mr. Rogers has been with Scarlett Hospital for 14 years prior to the merger between two competing hospitals. With having previous experience facing challenges from other healthcare institutions, I feel Mr. Rogers and Scarlett Hospital are prepared to compete with the more easily accessible institutions of Salem. Complacency Complacency is the self-satisfaction especially when accompanied by unawareness of actual danger or deficiencies; it can be an instance of usually unaware or uninformed...
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...Accountable Care Organizations: Key to Transforming Healthcare? The Talia Goldsmith, MHA Candidate 2011 Suffolk University Sawyer Business School HLTH 890AE: Healthcare Strategic Management Professor Richard H. Gregg, M.A., M.B.A. April 28, 2011 Table of Contents Objective .....................................................................................................................................3 Introduction ..............................................................................................................................3 Overview of ACOs as a Mandate and an Opportunity for Healthcare Organizations............................................................................................................................4 Examples of Missions, Visions, Values and Goals for ACOs........................................6 Mission ................................................................................................................................................. 6 Vision ....................
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...Healthcare and health information technology (health IT) are undergoing transformative change at an unprecedented pace. Strategic planning has become a major discussion point among CIOs, CTOs, CMIOs, and IT Directors. Whether it is implementing enterprise-wide electronic health record (EHR) systems, working toward compliance with the “meaningful use” EHR Incentive Program, enabling patients’ involvement through PHRs, transitioning to ICD-10, establishing insurance exchanges, becoming an accountable care organization, or even deploying a medical home, healthcare executives are confronted with a confluence of high-priority initiatives. It is imperative to view health IT strategically from an IT management perspective (Tan). Based on developing and institutionalizing health information and health IT strategic planning for large-scale integrated healthcare organizations, lessons incorporated from this can be vital. Following these practices will equip the CIO, CTO, and CMIO to not only develop a Health Information and HIT Strategic Plan, but provide clarity on operationalizing the plan and managing information and IT strategically within their organization as well. Align with Corporate Plans for strategic intent, context, and line of sight. Consider mission, vision, core values, business principles, strategic goals and objectives, strategic direction, strategic initiatives, and outcomes-based performance measures—all elements of a robust strategic planning framework (Tan). Conduct...
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...the case study, a 350 bed not for profit supplier of surgical and medical services, Scarlett Hospital was presented with a dilemma of losing patients. The improvements in infrastructure of transportation have sourced the Scarlett Hospital top executives to reflect on the effect of a construction of new highway might have on the facility. Easy admission to the larger Salem city and its institutions of healthcare fetches the risk of prospective consumer’s loss to Scarlett Hospital. CEO and the president of Scarlett Hospital, Timothy Rogers is endowed with the decision making of discovering finest strategy for the Scarlett hospital to continue being competitive with the bigger facilities in Salem. Timothy Rogers believes his beliefs to convey the utmost medical care quality will carry on helping Scarlett Hospital contend in the additional competitive surroundings. For 14 years Timothy Rogers has been working with Scarlett Hospital proceeding to the merger amid two contending hospitals. With having earlier experience countenancing challenges from additional institutions of healthcare, I believe Scarlett Hospital and Mr. Rogers are prepared to contend with the additional effortlessly accessible Salem institutions. Complacency Complacency relates to self-satisfaction particularly when escorted by ignorance of real danger or deficiencies; it can be a case of typically uninformed or unaware self-satisfaction. When tackling with complacency, the pitch habitually place by irritated...
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...1980s, the healthcare industry has been discussing the need for electronic health records. And indeed, the past 20 years have seen the industry move toward a completely computerized medical record. A variety of technologies have contributed to this evolutionary process, including point-of-care clinical documentation, clinical data repositories, and automated results. The cumulative effect has resulted in slow but steady progress toward a complete electronic health record for the healthcare industry. Clinical and administrative data needed to assess and improve quality, identify potential cost savings, and make strategic decisions have become important as the pressure on healthcare rises. Current trends in healthcare that will drive information technology priorities in the immediate future include the following • Concern about medical errors and overall quality of care • Continued pressure for cost containment • Consumer empowerment • Growth in the use of evidence-based medicine • Demand for protection of privacy and confidentiality of information Effective health information systems are ones that improve health outcomes and reduce healthcare delivery costs. Since most developers are not clinicians, and most clinicians are not developers, to implement these health information systems successfully we must have some understanding of the healthcare domain and adopt techniques that are attuned to managing the innate complexity of health information and healthcare in general ...
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...Introduction Health IT has improved patients safety, healthcare quality, efficiency and data collection and has helped restrain rising cost. Health information technology encompasses a broad array of technologies involved in managing and sharing patient information electronically than paper. http://www.allhealth.org/publications/health_information_technology/health_information_technology_toolkit.asp states Many in the U.S. have high hopes for health information technology, or health IT. Hospitals hope to reduce medical errors, such as ordering and administering the wrong dose of a medication. Providers hope to access and share patient information more easily, thereby improving care. Governments and businesses hope to save money by improving efficiency. In this paper, I will determine, within the healthcare setting, the main features, capabilities, and operational benefits to a health care organization using the following: patient care applications, management and enterprise systems, e-Health applications, and strategic decision-support application, I will assume the responsibility of a healthcare administrator for the health information systems within my organization and create an argument to be presented to the leaders with the organization that a strategic plan is essential for the IM/IT, assess the importance of a system development life cycle as it pertains to both the development of a custom application, coupled with the selection of proprietary systems, recommend the...
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