Hcs 571 Essay - 3296 Words

Capital Project HCS/571 Capital assets are generally purchased to improve quality of care, or to provide needed equipment for a new service or expansion of an existing service. The key element in capital budgeting is that the building or piece of equipment being acquired has a lifetime that extends beyond the year of purchase and it is a capital asset or long-term investment for the hospital. Capital assets are good financial investments for the organization.(Finkler, Ward, amp; Baker, 2007). The Electronic health record software system is one of the important operational priorities in the US healthcare. The change from paper-based record system to electronic record system supported by technologies and help for reducing errors and†¦show more content†¦(McCarthy amp; Eastman, 2010). Cost containment The software related Electronic health record implementation need to be appropriate for the needs of the organization and budget.(Swab, amp; Ciotti, 2010) The EHR software system has many areas of market depending upon the size of the hospital bed size. The first criteria for the vendors according to the bed with 100 and small hospital The Electronic health record system cost about between $ 1 million and 2 for the electronic health record system The electronic health record software cost for the organization about medium hospital cost is much larger than the first one. It comes around three to ten million. The hospital and organization with more than average bed cost for the electronic health record system will be higher amount than the other one. The cost and amount of electronic health record system will depend upon the size of the hospital . The management has to decide about the budget for the organization. (Swab, amp; Ciotti, 2010). The organization must evaluate its mission a nd goals in light of its particular strengths and weakness and in light of the demand for services and competition in the external environment. Based on that evaluation it can make a plan that will take advantage of opportunities like Electronic health record implementation according to the goals of an organization.(Finkler, Ward, amp; Baker, 2007). TheShow MoreRelatedHcs 5711329 Words   |  6 PagesBudget Management Analysis Juan Vazquez-Nieves HCS 571 August 27, 2011 Tamica Lewis Abstract A budget is an instrument used to help managers ensure that the resources used effectively and proficiently toward the goals of an organization. A budget projection can be made on a yearly base depending on previous year or existing one. They can further be broken down quarterly or monthly depending on it use. Generating a budget is complex undertaking, and for a budget to be effective the organizationRead MoreAnalyzing Financial Indicators Essay697 Words   |  3 PagesAnalyzing Financial Indicators for Decision Making Patricia Hand HCS 571/ Lena Watson, Instructor June 6, 2011 Financial Indicators Decision Making Simulation Form Date: June 6, 2011 What are the potentialRead MoreGeneral Accepted Principles807 Words   |  4 PagesGenerally Accepted Accounting Principles HCS/571 Generally accepted accounting principles, better known as (GAAP) discloses statements and reports financial information dealing with businesses and organizations. They are rules made by the Financial Accounting Standards Board (FASB) in which are commonly used in the health industry to maintain the decisions of the organization. GAAP gives detailed information to investors about the budget of the organization and their debt. GAAP includes theRead MoreAccounting Principles and Health Care Essay964 Words   |  4 PagesAccounting Principles and Health Care Samantha Mrazek HCS 571 March 19, 2012 John Hodnette Accounting Principles and Health Care There are no formal accounting principles that apply to health care. However, there are five generally accepted guiding principles used in the management of the financial aspects of health care management (Cleverly, Song Cleverly, 2011). Understanding the five guiding principles are important in understanding financial information and managerial accountingRead MoreCapital Project1020 Words   |  5 PagesCapital Budget Project HCS/571 November 26, 2012 Capital Budget Project Introduction The amount of money that can be borrowed has many entities and factors that influence the capital budget of the hospital (Cleverly, Song, Cleverly). The Allen Pavilion of NY Presbyterian Hospital (NYPH) is projecting that the purchase of an MRI machine for their facility will be a venture worth pursuing. The growth and demand of the small community ofRead MoreNur 571 Generally Accepted Accounting Principles1017 Words   |  5 PagesGenerally Accepted Accounting Principles Amy Santus RN BSN HCS/571 October 3, 2011 Debra Vaughn Increasing pressures of cutting costs and improving the quality of care in health care services influences the management of the health care organization to implement the generally accepted accounting principles (GAAP) within their daily routines. Generally accepted accounting principles (GAAP) are a set of uniform accounting guidelines health care organizations followRead MoreRatio Analysis1131 Words   |  5 PagesRatio Analysis Joyce Wallace-Butler HCS/571 February 11, 2013 Shawishi Haynes Ratios Analysis The relationship between two variables is defined by ratios. When dividing the dollar amount of one item on a financial statement by the amount of another item on the financial statement a financial ratio is computed. Expressing the relationship of two variables for ease of comparison and interpretation of other information is the purpose of ratio analysis. A ratio analysis computation allows a lookRead MoreGenerally Accepted Accounting Principles Essay1229 Words   |  5 PagesGenerally Accepted Accounting Principles Stephanie R. Stewart HCS/571 September 24, 2012 Anne Harney Finlon Generally Accepted Accounting Principles Generally Accepted Accounting Principles (GAAP) are important ideas to understand when discussing finances of any kind. It is important for all nurses, especially those in management roles, to understand financial concepts and be involved in the budgetary process. This paper will help to create an understanding of GAAP, the purpose of the principlesRead MoreThe Corporate Veil : Saloman And Beyond1269 Words   |  6 PagesSalomon merely because justice demands such an action unless the wording of particular statute or contracts permitted such an action. Re Darby, exp Brougham [1911] 1 K.B 95 (HC) DHN Food Distributors v Tower Hamlets [1976] 1 WLR 852 (CA); rejected in Adams v Cape Ratiu v Conway [2005] EWCA Civ 1302, [2006] 1 All E.R. 571 (CA) 1.3.3 Corporate Groups As a company Through a brief outline of the history of the corporate veil doctrine, and the issues that avalanche from its constant appearanceRead MoreEmergency Department Bottleneck1309 Words   |  6 PagesEmergency Department Bottleneck Proposal Joyan Thomas University of Phoenix Online OPS/HC 571 Patience McGee March 7, 2011 Emergency Department Bottleneck Proposal Introduction Most hospitals experience the affects of the unexpected, ambiguity and uncertainty, and as a result, face challenges with quality. Middletown Hospital is a 200-bed general not-for-profit hospital. The hospital has a 20-bed Emergency Department (ED). It averages 100 patients per day. The CEO of the hospital