Managing Fiscal and Economic Resources in Healthcare

HEALTHCARE FACILITY:           
Name of the selected facility for this CA is?
Below are sample of the type of facility you can choose from:
Acute care (hospitals),
long term care,
nursing home (skilled and non-skilled),
Specialty services (urology, pulmonary, cardiology, podiatry, neurology, diabetes, etc.),
managed care company,
insurance company,
health insurance plans, and
Etc.
After deciding on the facility you choose then you introduce the facility by name and type of facility
A. Planning Phase:
1. How can I define and study different fiscal and economic resources of a healthcare organization? Talk about the research design web, books, visit, telephone contact, etc.
2. How can I define a financial resources management related to problem of the diverse healthcare systems? Again, define what you understand about Fiscal resource and relate to healthcare
3. How can I establish an appropriate strategy for improving healthcare financial and economic resource management? What can you do to improve the fiscal & economic resources in the facility you are studying
Services Covered Examples:                   
-Medical services rendered? That is, describe the type of services offered by the facility shown in ii through viii below:
i. accommodation and meals at the standard ward care
ii. nursing services, when provided by the hospital
iii. laboratory, X-ray and diagnostic procedures, and interpretation
iv. drugs prescribed by a physician and administered in the hospital
v. use of the operating room, case room, and anesthetic facilities required for diagnosis and treatment, including necessary equipment and supplies
vi. radiotherapy treatment, occupational therapy, and physiotherapy when provided by an insured facility
vii. detoxification services in an approved health facility

1. -Provider that is, describe the personnel and type of specialty (general, cancer, etc.)  they offer
2. Insurer Government (Medicaid, Medicare), private, self-paid
Background details on facility
1. Give a detail background of the facility you are studying, that is, history and relevant honorable mention
2. Why and how did it come into existence
3. Other pertinent historical details
B. Choose the best goal
Based on the needs analysis, identify goals for improving management of fiscal and economic resources of a healthcare organization.
1. Taking into consideration possible outcomes, time frame, resources, risks, constraints, and your own learning and career needs, which of the possibilities you have reviewed provides the best opportunity for a Constructive Action?
2. What short-term and long-term goals am I working towards regarding improving fiscal and economic resources of a healthcare organization
You can visit the facility or use its website to collect the relevant information-
EXECUTIVE INTERVIEWED (if applicable)-         
-Name,
-Designation,
-Responsibilities
WEBSITE FEATURES (if applicable)
B. Choose the best goal (Continue):
Based on the needs analysis, identify goals for improving management of fiscal and economic resources of a healthcare organization.
3. What further information do I need in order to enact my plan of action?
4. What theories do I intend to use to support my plan and actions?
5. Maintain a critical log, or record of all strategic processes with an evaluation of each recorded event to facilitate revision of the plan if necessary. Explain how your newly acquired knowledge is being used to achieve the purpose.

C. Agree on a Plan
Based on your study of effective management, develop a plan to meet your goals, which includes objectives, realistic strategies and an evaluation scheme.
1. Objectives: Break down your short-term goal into specific measurable objectives. It may be helpful to write objectives for each Dimension, depending on your goals.
Based on your study of effective management, develop a plan to meet your goals, which includes objectives, realistic strategies and an evaluation scheme.
2. Evaluation Plan: Describe the criteria or benchmarks to be used to monitor progress toward achieving the CA goal and objectives. Exactly how will you know whether or not your strategies have helped you to meet your objectives? Describe the methods to be used for determining whether these criteria have been met. There should be at least one measure for each objective and each strategy. Measures should be both quantitative and qualitative. Evaluation criteria may be altered during the implementation phase.
Assessment phase / conclusion:
Explain how your newly acquired knowledge is being used to achieve the purpose.
What are they doing to contain medical costs at their organization;
How is the cost of medical care impacting their organizations profitability?
Do they have any experience with cost containment programs?
E. Assess results and plan next steps.
Review and evaluate your accomplishments regarding your management initiative within the health care workplace. Questions to be answered in this section include
1. Did you achieve your objective? If not, how far did you progress?
2. What objectives were realistic? Were some abandoned or redefined?
3. What strategies worked? Would you use them again? Which did not work?
4. By enacting your management initiative, what did you learn about yourself? And the process?
5. Assessment of Competencies:
At the completion of this purpose the students should be able to demonstrate the ability to:
Make successful use of accounting principles in managing financial and economic resources of healthcare organizations;
Utilize various financial tools to access financial information for drawing financial conclusions about healthcare organizations;
Use financial indicators in for gauging the financial health of healthcare organizations;
Use electronic spreadsheet software for financial analysis and making pertinent business decision.
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Background Research
Students will conduct a Literature Review, in which they will summarize and critically evaluate a substantial number of sources, i.e., books and journal articles, which explicitly deal with the Purpose theme: Managing Fiscal and Economic Resources in the Healthcare Industry. Students will show evidence of effective research skills, providing relevant bibliographical information as well as proper citation methodology.
Congratulations, you have completed all the components for your CA paper. We will be moving forward with a review and putting all materials together!

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