Essay on Simulation Review Hcs/405 - 1236 Words

Simulation Review Janette E. Guevara HCS/405 August 26, 2013 Todd Brown Simulation Review I have been brought in as a financial advisor to assist Mr. Gilbert Sanchez, CEO at Elijah Heart Hospital (EHC) to find some cost efficient ways to continue to provide quality care but at the same time reduce costs for the organization. EHC is a hospital that specializes in Cardiac surgeries and procedures. They would like to expand and have a promising growth in patients as well as revenue, but with the decrease in reimbursements from their primary sources of revenue, new strategies to save money are a much needed organization-wide goal. Mr. Sanchez has enlisted the help of my firm, Huber amp; Guizot to help find a good financial plan and†¦show more content†¦These employees can take care of the simpler tasks that way the nurses and physicians can spend their time with patient care. They will be trained to do tasks such as vital signs, feeding, moving, and bathing patients. By implementing these cost-cutting strategies we have surpassed our original savin gs goal by $61,249. Our actual savings is $811,249 in the first quarter. To solve the current cash flow at EHC I have chosen loan option one (1). This loan has a slightly higher interest rate then Option two (2) but there is no early pay off penalties. The loan amount is $1,500,000 with an interest rate of 9.45%. This debt will be paid off in the next six months and the organization will pay just under $33,000 in interest. I have chosen the correct and most effective cost-cutting measures for EHC. In the second phase Mr. Sanchez has decided to obtain some new equipment to provide better medical care and offer more services in within the organization. This will increase reimbursements from payors, as well as save our patients time and stress from having to go to different facilities for imaging studies. Mr. Sanchez has decided to get a Computerized Tomography machine (CT scan), an X-ray machine, and also an Ultrasound machine. It is up to me to decide whether it is in the organizati ons best interest to lease, purchase or buy refurbished. I have chosen to purchase the high-speed CT scanner on a capital lease. I chose this option because I thought thisShow MoreRelatedHcs 405 Simulation Review Essay1282 Words   |  6 PagesSimulation Review Essay Macy Skalski HCS/405 Health Care Financial Accounting University of Phoenix- AXIA Instructor Sherida Douglass November 19, 2012 Simulation Review Essay The Elijah Heart Center is facing the financial distress common in specialized health care organizations. This is the combination of the need for improved technology, a reduced income, and the demand for expansion. Without the needed technology and expansion, there is little that the hospital can do to improve theRead MoreHCS 405 Week 2 Health Care Financial Terms Worksheet Paper1025 Words   |  5 Pagesï » ¿ HCS 405 Week 2 Health Care Financial Terms Paper The theme of HCS 405 is to enable students to learn about the financial statements and other financial transactions in the hospital industry. There are various topics in HCS 405 like balance sheet, statement of revenues and expense, revenue cycle, payer mix and revenue. There will be five weeks in the course of HCS 405 in which the above topics will be covered. There will also be the study about the financial worksheet and reporting practices.Read MoreHCS 405 Week 1 Health Care Financial Terms Worksheet Paper1042 Words   |  5 Pagesï » ¿HCS 405 week 1 Health Care Financial Terms Worksheet Paper Introduction The HCS 405 week 1 financial terms worksheet throws light on some of the most basic concepts of the healthcare business. Understanding health care financial terms is a prerequisite for both academic and professional success. The health care business helps the nation by providing the building blocks that the citizens need to live a successful and healthy life. The worksheet is intended to ensure that the students understandRead MoreAnalyzing Financial Indicators for Decision Making1055 Words   |  5 PagesSimulation Review HCS/405 HealthCare Financial Accounting The simulation states, â€Å"Many hospitals in the United States are financially vulnerable because of the reduction in Medicaid cuts, funding cuts, and cuts in Medicare payments† (University of Phoenix, 2009). This simulation paper will show what some hospitals have to do to keep costs down. In addition, it will analyze financial indicators for decision making. This simulation will also show the financial accounting from a CardiacRead MoreHealth Care Financial Accounting Essay1230 Words   |  5 PagesSimulation Review Paper By Johnna HCS/405 Health Care Financial Accounting Instructor: Donna Pearson â€Å"Concern about the growth of healthcare a cost is widespread and continuing increases in hospital cost per day are a significant component of this concern† (2009). In this paper it shows an example of how healthcare cost is constantly increasing and what the hospitals have to do to keep up with the increase of costs. This paper is a simulationRead MoreDr. Elijah Heart Center Simulation Review1421 Words   |  6 Pages Thomas Gordon Elijah Heart Center Simulation Review Health Care Financial Accounting February 14, 2016 HCS 405 Elijah Heart Center Simulation Review The Elijah Heart Center (EHC) has started seeing and realizing that the financial burdens that are starting to increase cost of staffing, the decreasing amount of reimbursements, the gathering of loans for expansion, and the costs of continuation of upgrading equipment is starting to seriously show strains and obstacles. From my analyzationsRead MoreSimulation Review1150 Words   |  5 PagesSimulation Review Paper Kimberly Roehler HCS 405 September 26, 2011 Sandra DiPietro Simulation Review This is a stimulation review of a cardiac care unit that is facing working capital shortages. As the lead financial consultant brought into address the financial indicators and evaluate to bring working capital back to in order at the Elijah Heart Center (EHC). The other financial analyst will focused around addressing issues as they relate to this particular cardiac care unit; whatRead MoreElijah Heart Center1520 Words   |  7 PagesElijah Heart Center Toni Berthia University of Phoenix/HCS 405 Elijah Heart Center The finance department has reported that Elijah Health Center is facing a potential working capital shortfall which means the hospital may not have enough cash to sustain itself. The reasons for this shortfall is due to huge discounts given to managed care companies, higher wages given to contract nurses, low Medicare reimbursement levels, growth in current liabilities, and unused equipment. I will provideRead MoreHcs/405 Health Care Financial Term Paper1104 Words   |  5 PagesWeek 4 Individual Assignment | Simulation Review Paper | HCS/405 Health Care Financial Accounting | My strategy will consist of three phases. These phases include: capital shortage, funding options for equipment acquisition and funding options for capital expansion. During these three phases I will observe the necessary financial statements and documents. From this information I will analyze the information and decide the best strategy for improvements. I will not only focus onRead MoreAcca F5111177 Words   |  445 Pages...........................................................................267 December 2009 ...................................................................................................................................................276 Review form free prize draw iii Question index The headings in this checklist/index indicate the main topics of questions, but questions often cover several different topics. Questions set under the old syllabus Financial Management and Control