Assessment Of Management Of Budget Research Paper

Length: 11 pages Sources: 5 Subject: Healthcare Type: Research Paper Paper: #28549361 Related Topics: Assessment Activity, Capital Budgeting, Meaningful Use, Electronic Medical Records
Excerpt from Research Paper :

Budget Management Analysis

The main purpose of this report is to establish the necessities as well as the costs of iPatientCare HER software to the already existent record keeping system of Home Health Care Agency. Home Health Care Agency is an organization that offers health care to patients in their homes in its targeted region. The agency provides both medical and non-medical services for adult patients in their places of residence. The agency is attributed to provide specified home care and private nursing. The health care services which are provided by the agency are split into two broad classifications which are skilled nursing and therapeutic services. This particular report will reveal the finance costs and also the deemed benefits of the capital expenditure item.

The issue at hand is that in the past number of years, Home Health Care Agency has had a healthy financial performance but the organization has constantly been incurring high costs in labor and has also been generating minimal revenue due to low output. These two issues are linked to the unproductive and ineffective record keeping system that is being employed at present. It is for this reason that the iPatientCare HER software by iPatientCare is being considered to be embraced and also determine the obligation and expenses of accumulating electronic medical record software to the Home Health Care Agency. The execution of electrical medical record keeping system is anticipated to be a solution to a number of the costs and augment the quality of health care that is being offered by the agency. It is highly regarded that this particular kind of system will be of much benefit as compared to the prevailing system of recording that makes use of paper. It will enable and simplify the tracking of data in the long run, assist the health care providers to be able to recognize the patients who are due for preventive medical appointments, be of assistance in monitoring the parameters of the patients such as the readings of high blood pressure and also be able to develop and improve the quality of health care that is being provided.

The organization consists of two doctors, eight nurses and thirteen care assistants. In a complete day, the organization offers health care services for sixteen hours every day while there are two nurses out of the eight who are on duty 24 hours a day everyday as they interchange during the week. Each of the care providers is anticipated to cater to eight to ten patients every day reliant on the nature of the medical or healthcare procedures that are being undertaken. It is deemed that the espousal and implementation of a more effective record keeping and information sharing system; the organization will be able to serve more of its patients and devoid of any delays and therefore bringing a reduction to the mean time that is spent on the site and also increasing consumer satisfaction while at it.

It is quite hard and difficult to share information with the different stakeholders of the agency using the present system being employed. Patient's medical information necessitates to be shared between the agency's health care providers, the patients, and with external stakeholders. In a number of instances, the patient's health records even have need of being published and distributed to external experts or consultants by means of fax or mail. Not only does this take up a lot of time but it also increases costs. All the interested parties can gain access to information that is stored in electronic medical record without the need for paper transference. This also implies that patients can gain access to their health records at any time they wish and this therefore improves and develops convenience.

The iPatientCare HER software is a very valuable and worthwhile product that has substantial benefits and productive influences to the delivery of health care services. This will not only be of pronounced profiting to Home Health Care Agency but to also other several plentiful health care agencies. The efficiency of this specific product is centered on its fresh entry into the present-day market. The refinement and establishment of iPatientCare HER software has brought out clarification to the providers of health care on enlightening the level of record keeping and in that way having the ability to advance the quality of health care that is delivered. The succeeding...

...

The intrinsic objective or purpose of the tool will improve on the quality of health care provided by the agency by ensuring that there is a productive and effective record keeping system that will minimize on the high labor costs incurred and also improve on the preceding low productivity.

Purchasing and using this capital expenditure item which is iPatientCare HER software is vital and integral for other organizations as well. This encompasses not only organizations that offer health care services such as Home Health Care Agency but also other organizations in different sectors or industries but largely make use of record keeping systems. It is important to take note that this software serves as a boost or advancement to the level of record keeping within an entity, which is important and of great benefit to all organizations that make use of record keeping. In addition, in order to make certain of a reasonable agency of developing health care capabilities with regards to other organizations, the stakeholders have to be in participation in the productive and technological sides that will be in operation to make the work much easier and faster as well as simpler within the organization. For example the use of iPatientCare HER software is an easy to operate tool and it appreciates the change renovations and makeovers within the organization.

This capital expenditure is justified for the reason that iPatientCare HeR software meets the business administrative and also medical health care needs of Home Care Agency. In the long run, the advancement in the information management will increase the level of satisfaction of the employees in terms of their jobs and also the consumers in terms of the care that they receive as it will be of greater quality. The issues that are currently associated with the record keeping system and sharing as well as transference of patient information will be eradicated for the reason that it will increase the level of quality, the productivity and output levels, efficiency levels and also in the end the profits which are generated.

It has to be agreed that in the immediate period, there will be greater amounts of spending inside different departments. This is because they have to implement new technology into their procedures and staff members need to be trained. The result is that expenses will vary and are unpredictable. Higher labor costs result from bringing in consultants and other professionals. Their job is to monitor the implementation of the new system, train staff members and ensure that it achieves its long-term objectives. This will have an impact on expenses based on the amount of time that is involved and the number of specialized personnel who are brought in. It might also result in decreased output levels as the personnel around the agency would have to ensure that they have learnt the new procedures and the new system. These are all aspects which are to be expected.

However with the increase of technology advancement in the world and also the increase in the number of Medicare and Medicaid patients, it has to be agreed that the benefits of making use of the capital expenditure item by all means outweigh the costs of it. This is because in the long run, once the system procedures and processes have become familiar to all of the personnel, the efficiency and productivity levels will increase. It will be much easier to share information and engage with the patients. It will also increase the number of patients who will be examined on a daily basis which in turn increases profit for the agency. In general, the agency will increase customer satisfaction which will in the end result into more consumers. The integration and assimilation of the patient's clinical record, assurance records, and payment record will permit for more precise and well-timed billing. It will make more efficient the process for billing insurance businesses for the reason that all the information will be in one all-inclusive patient file.

Establishing Acceptability

Complete and discuss the results of the acceptability of the item for key stakeholders

The iPatientCare HER software is a very worthwhile and rewarding product that has massive assistances and constructive influences to the delivery of health care services. This will not only be of great benefiting to Home Health Care Agency but to also other several numerous health care agencies. The effectiveness of this particular product lies on its novel entry into the…

Sources Used in Documents:

References

Sachdev, R., Pendelton, A., Gustafson, J. (N.D). Compliance In The Age Of Electronic Medical Records. Retrieved from: http://www.thehealthlawpartners.com/files/compliance_and_electronic_health_records_jlg.pdf

Rodak, S. (2011). Key Compliance Considerations When Implementing EMRs. Becker's Health IT and CIO Review. Retrieved from: http://www.beckershospitalreview.com/healthcare-information-technology/key-compliance-considerations-when-implementing-emrs.html

Kaplan, R.S., & Norton, D.P. (2001). The strategy-focused organization. Strategy and Leadership, 29(3), 41-42.

Ruther, M., & Helbing, C. (1988).Use and cost of home health agency services under
French, Joel. (2011). Four ways to improve hospital revenue. Healthcare Finance News. Retrieved from: http://www.healthcarefinancenews.com/blog/four-ways-improve hospital-revenue


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