Assessment of Management of Budget

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 impacts that are going to be realized or perceived once the software is in employment will be more productive and helpful as compared to the use of the long-standing system of record keeping. 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 contemporary market. The cultivation and institution of iPatientCare HER software has brought out enlightenment to the providers of health care on improving the level of record keeping and in that manner being able to improve the quality of health care that is provided. The subsequent impacts that are going to be seen or experienced once the software is employed will be more constructive and beneficial in comparison to the use of the old system of record keeping. The inherent 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 (Cleverley and Cameron, 2007). The key stakeholders in Home Health Care Agency are not only the management of the entity but also the workers and the patients as well. The results of the acceptability of the item for the management will imply that there will be minimal costs incurred by the entity. The personnel will get the result of the acceptability of the item in the sense that it will reduce the time spent by each nurse and therefore will in turn increase the general number of patients that are served. The result will also increase consumer satisfaction and also amassing referrals which will increase the revenue of the agency (French, 2011). As for the patients, accepting the capital item will result in the ability of the patients to gain access to their health information and therefore enabling them in participating in the health care that they receive. This will result not only in improved quality of the care but will also advance communication between the agency and its patients which would bring about improved trust and satisfaction of the patient (Wang et al., 2003).

Respond based on research to the purchase and use of the items at other organizations

The purchase of iPatientCare HER software is essential and imperative for usage to other organizations that deal with not only health services but also other kinds of services. It is important to take note that this software serves as a boost or advancement in the level of record keeping within an entity, which is important and of great benefit to all organizations that make use of record keeping. So as to guarantee a reasonable organization of developing health abilities within other organizations, stakeholders ought to take part in productive and technology aspects that will function to make work much stress-free 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 (Renner, 1996).

Determine organizational risk and compliance issues related to the purchase and use of the capital item

One major aspect to take into account is that regardless of the changes in technology or even changes in the economy, the health care agency faces very minimal risk for the reason that individuals will get sick and require medical attention. In addition, each year individuals get older and therefore there will be adults to cater to. However, this does not imply that the organization does not face risks as well as compliance issues that are linked to the purchase and also use of the capital item. The first organizational risk is that the incorporation of the capital item will have a negative impact on the running of the organization. Changing and transforming the organizational culture of an organization can be considered to be healthy but at times it can also hamper the activities that go on every day. It can be agreed that the personnel and the regular patients of the agency have already been used to the prevailing system of record keeping. Purchasing and using the capital item could bring disarray and disorganization in the manner in which the procedures and processes are run. Another related risk is that the capital purchase item would be difficult to grasp the manner in which it functions which would cost the organization not only time but also revenue. Incorporation of a new electronic medical system of record keeping with this particular software would require training. This would be a major risk if a major number of the staff is not equipped with computing skills as it would take considerably much more time for the capital purchase item to be effective (Kaplan and Norton, 2001).

With the advancement in technology, it has to be agreed that at some point in time, sooner rather than later, electronic medical records will completely replace the paper filing system that has been used for several years in the past. This is the case with the purchase and use of iPatientCare HER software in the system of Health Home Agency. However there are a number of compliance issues which the agency should be very much aware of. These are usually compliance issues concerning the legal as well as the regulatory issues that encircle electronic medical records. To begin with there is the compliance issue of privacy and security. With the institution and legislation of the Health Insurance Portability and Accountability Act in the year 1996, health care institutions have had to be aware and cognizant of the rules and regulations regarding the privacy and the security of the information of the patients. The purchase and use of this capital purchase item may require a great awareness and also recognition of the distinct issues and challenges that come about in using and incorporating electronic database systems. The agency by all means necessary will have to be aware that the protection of the health information of its patients has to be undertaken by all means necessary. Being an EMR system, the purchase and use of this capital purchase item would bring about more probability for unauthorized use and also disclosure of the health care information of the patients. Therefore the management of the agency will have to be aware and mindful of these kinds of compliance issues (Ruther and Helbing, 1988).

Recommend risk avoidance strategies

One of the ways to avoid these kinds of risks is to ensure that the personnel are aware of the issues that come about with the incorporation of the new system. When the workers are aware that such information is vital is important and sensitive it ensures that there are minimal mistakes in letting such information being disclosed out to the public without any official consent. Another risk avoidance strategy that can aid in ensuring the privacy and security of the health information of the system is putting in place risk measures and systems of auditing that can identify any compliance risks that might come about. For instance, the agency ought to ensure that not all individuals have access to the whole database which contains the information of the patients. This can be done so by handing a few personnel the authority to have such information. Another strategy that can be done is instituting user names and passwords for all the personnel who are bound to use the information. This will ensure that unauthorized persons are unable to gain access to such sensitive information. In addition, there are strategies such as instituting security systems that can prevent any kind of hacking in the database systems of the organization (Rodak, 2011).