Essays on Cleverley

Abstract

The healthcare systems comprise of many services that can lead to the successful delivery of treatment to the patients. Patients can receive their treatment and then the member or the hospital can contact the third party payer to reimburse them. There are numerous reimbursement methods and clients chose one that they. The methods include; the Value-Based Purchasing Medical Reimbursement, pay for performance, fee-for- service and episode-of-care payment. Each method has both its advantages and disadvantages to either the patient or the hospital. An acute care hospital which provides quality treatment to the patients within a short period utilizes the ...

Four General Four Phases of the Working Capital Cycle

Working capital, defined as the money required to facilitate day-to-day business activities, undergoes through a cycle known as the working capital cycle. Once the supplier supplies goods or inventory, the businessperson pays for the supplies and then waits to get back the money after sale. Working capital cycle them measures the time between when the businessperson pays for supplies to the time of receiving money after sale (Government of Western Australia, 2013). The cycle has four parts as follows:

- Cash: Getting the required cash - Creditors: Converting some or all the cash into resources, which could include inventories, ...

The first principle that BUPA must adopt is that it must understand true costs. This company will make this achievement by using the standard cost component. This tool should be applied in budget preparation, pricing reporting and performance based incentive plans (Elliott, 2004). This is based on the increase in utility costs, which has decreased the operating surplus. In 2012, the operating surplus was £ 38,364,000. This was a decline from £ 54,202,000 in the previous year (Bupa Care Homes (CFG) plc, 2012). Understanding true costs will ensure that BUPA improves its costing control system. In this case, ...

Report Supporting Purchase of an

Executive Summary The present report provides the support and justification for the purchase of an electronic medication administration records (eMAR) system for the hospital. Medication errors are a serious concern within the business of healthcare and information technology is now available to address the issues causing many of the more egregious problems in this area. In particular, eMAR systems have proven to increase the chances of the right patient receiving the right medication in the right dose through the right route at the right time. These aspects of patient care are fundamental to high quality and are too important ...

A budget is a method of organizational planning and control that ensures the judicious use of limited financial resources and contributes to the entity’s ability to survive in a competitive healthcare industry (Yoder-Wise, 2011). To keep track of unit adherence to the budget, allow timely adjustments if needed and improve the succeeding fiscal year’s budget projections, variance calculations and analysis for each line item is done. To increase accuracy, projections must be based on concrete data. Moreover, needs that arise should be prioritized in accordance with organization and unit goals in order to optimize the use of finite resources. ...

HEALTH CARE REIMBURSEMENT PROGRAMMES.

Health care professionals play an important role in society. As such, there is a need for these professionals to understand the various health care reimbursement systems and methodologies to discharge their duties. There exist various financial systems adopted to cater for the financing of healthcare with each plan posing its risks as well as the incentives these systems exists solely because most patients have an insurance plan.

Fees for service reimbursement program mean that a fee is paid dully to the healthcare provider for each specific service rendered. This system is widely used as it guarantees total independence of which services ...

Generally accepted accounting principles

Health care financial management like that of other industries follows a set of generally accepted accounting principles (GAAP) regardless of whether it is for a profit or non-profit making organization. Health care organizations generate their revenues from delivering services and from the sale of drugs and medical supplies. Expenses in health care organizations normally include but are not limited to the costs related to labor and the purchase of drugs and medical supplies (Hankins & Baker, pp.412-413). These transactions have to be recorded according to the concepts of GAAP. The aim of this essay is therefore is to discuss the following generally ...