ipl-logo

Role Of Budgets In Health Care

3119 Words13 Pages

1. Polluter Pays principles are used in costing and business control systems in the health care organization, CareTech Holdings PLS. When using this principle it has stated that the facilitator in charge of health care should pay to ensure safe disposal of the wastes that gets accumulated. These principles are used for minimizing, segregating and also recycling the waste. This is stated by Baily in the year 2007.In the health care organization, CareTech Holdings PLS, there are internal costs as well as external costs which will incur. When focusing on internal costs, there will be costs like segregation costs, costs incurring in packaging as well as costs incurring in onsite handling and treatments. These costs would be supply and labor costs. …show more content…

There are many different kinds of budget expenditures. These expenditures in CareTech Holdings PLS, are mainly associated with health care and social sector and will include budgets like operating, sales and personal and many more. The budget known as the operating budget is responsible in reflecting the services and products which are introduced in the period of budgeting in the service structure. Personal budgets will help in identifying the expenditures incurring in the organization in a period of one financial year. These particular expenses will contain the costs of labor. The health care sector today is in a high competition and also it has a higher rate in depending over resources which uses technology. Because of these reasons the utilization of human resources also gained a main impact. So due to this, the personal budget is always fluctuating. The sales budget is responsible in reflecting the real estimation of sales of the services in the present financial year. The main expectation of the sales budget is the estimation of sales expenses and also the services and products that must be produced in the year of budget and also revenue which can be obtained by the selling of these products and …show more content…

For managing the financial resources like in a health and social care organization like CareTech Holdings PLS, there are two processes which it will depend on. Those are the calculations made on the financial activities performed previously in the organization and also the analyzing of the financial requirements which will come in the future in the organization. The financial documents made by CareTech Holdings PLS will be annual reports, the analysis of the breakeven point, income statements, the profit and loss accounts, cost sheets, cash flow statements and much more. Also in an organization like CareTech Holdings PLS the information associated with the different operational activities as well as the expenses of the organization will also help to make decisions regarding

Show More
Related

  • Xacc/280 Week 3 Risk Analysis For Healthcare

    484 Words  | 2 Pages

    It’s very crucial that the technology proposal includes these recurrent expenses established not only on current amounts, but also on the healthcare organizations’ future situation. In general, upcoming planning expenses have to account the employee’s resources that are required to meet the organizations’ needs. This would entail the support of administrative employee for the technology, overall technical support to maintain the organization’s growth and management capacity to maintain the organization’s strategic planning. This could be kept in-house or given to outside cohorts, but the expense implications of both models must be assessed as a component of the planning process. A lot of work and time should be set aside so the organization can isolate known and estimated expenses and develop and create them within the general organizational plan so they everyone know what they will need to pay for and when.

    Read More

  • Case Study: Green Guard Care

    1510 Words  | 7 Pages

    The correlation between the data points show a slightly positive trend. This trend suggests that the numbers of visits increase as additional employees join the healthcare membership, therefore increasing costs. Finally, it is important to point out that the correlations do not equal the causation and therefore, it is merely a suggestion of the outcome. Visits per employee and the cost per visits (see appendix 1.4) were calculated to create variables showing the comparison between them over

    Read More

  • Advantages Of Outsourced Medical Billing

    1146 Words  | 5 Pages

    The cost incurred, as a result of streamlining the claim process, is an absolute variable that influences the growth trajectory of a practice. It becomes imperative to have a solution that caters to this necessity and gives a fair turnover. A successful medical billing process can recuperate a healthcare facility from financial constraints by streamlining the non-medical services like credentialing, billing, coding, follow-up, collections, payments,

    Read More

  • Explain How Your Changes Will Have On Middle Income Families

    1146 Words  | 5 Pages

    Explain how your changes will impact those middle income families who want and can afford premium coverage. The changes and recommendations proposed above are not being put in place to stop those middle income families who want and are able to afford premium coverage from getting the type of coverage they want or decide they need. The purpose of these recommendations and changes is really to bridge the gap for low income families in terms of purchasing and receiving health care. However, these initiatives will impact middle income families, even though they can afford premium insurance coverage, they might not be able to access their chosen doctors due to increased demands on doctors (Atlas, 2015).

    Read More

  • Healthcare Rationing Pros And Cons

    354 Words  | 2 Pages

    Healthcare rationing is limiting healthcare to only patients who can pay. Rationing healthcare may seem to be the right thing to do because of its cost effectiveness. Saving valuable resources and cost is another benefit of healthcare rationing. The United States require more healthcare resources or way to receive healthcare for people who are in need because of the population ratio and healthcare availability.

    Read More

  • Health Care Disparities

    570 Words  | 3 Pages

    Health Care in the US is arguably available to all who seek it but not everybody has had the same experience and treatment when walking through the doors of a healthcare facility. In many cases, people are discriminated against due to their gender, race/ethnicity, age, and income and are often provided with minimal service. Differences between groups in health coverage, access to care, and quality of care is majorly affected through these disparities. Income is a major factor and can cause groups of people to experience higher burden of illness, injury, disability, or mortality relative to another group.

    Read More

  • Health Care Disparity

    1090 Words  | 5 Pages

    Health care disparity according to U.S National Library of Medicine (2017) “typically refers to differences between groups in health insurance coverage, access to and use of care, and quality of care”. The purpose of this research was to identify the different factors that prevent San Bernardino County residents from accessing quality healthcare and identify specific groups affected. Our research has concluded , social economics status, gender, race and ethnicity to be major factors in San Bernardino County that have created these healthcare disparities. According to the Kaiser Permanente Community Health Needs Assessment San Bernardino County (CHNA 2013 ) the impact of economic instability, unemployment, homelessness and transportation,

    Read More

  • Personal Finance Chapter 8 Summary

    139 Words  | 1 Pages

    Organizations must have cash on hand for the following reasons: transaction, precaution and speculation. Health care organizations use a cash budget to help manage cash flows. Compounding is used to determine the amount of income investments will generate. The present amount of money is

    Read More

  • Pestel Analysis Of Coloplast

    993 Words  | 4 Pages

    This reform increased residents’ disposable income and provided more sales for Coloplast in the following. Economic Factors There are four main Economic factors in the healthcare supplies industry. Firstly, financial crisis does not affect the medical devices companies at first. However, when the economic crisis prevails, people may switch to lower cost alternatives due to lacking of the financial support from government.

    Read More

  • Caregroup Case Study Analysis

    844 Words  | 4 Pages

    Moreover, besides the problem with the new knowledge management application, the weak telecommunication network in CareGroup was the other reason for the collapse. The network was out of dated and should be upgraded. The underlying cause of this problem was CareGroup did not put IT operation as an important role for the company. CareGroup was cutting the IT operating expenses from $50 million in 1998 to $25 million in 2001, and reducing IT capital expenditure

    Read More

  • Porter's Five Forces In Healthcare

    1087 Words  | 5 Pages

    Many private hospitals counters this by poaching the experienced physicians with high remuneration. The Private players also looking to various methods to reduce cost including economies of scale and scope so that more people can be treated with better facilities. 2.2 (g) Bed occupancy rate remains high for the last 5 years despite increase in number of beds. Also the growth of in­patient volumes in line with addition of beds are also increasing. Hence the excess capacity is in general small and Industry attractiveness is high

    Read More

  • Essay On Health Care Cost

    1533 Words  | 7 Pages

    Health care cost has seen to increase gradually as years go by. This has been influenced by major factors such as political influence, emerging chronic diseases, new procedures that are coming up including the technologies being invented for treating illnesses, pricing of medicines and treatment is not regulated and when treating ailment their may arise repetition of tests or a patient gets over treated for a particular ailment. The cost of healthcare has increased due to chronic diseases such as cancer and diabetes etc. The lifestyle people are living in this generation has led to the development of diseases that are expensive to treat or has led to there being over treatment in such for a cure of a particular ailment.

    Read More

  • Carroll University Hospital Case Study Solution

    869 Words  | 4 Pages

    Depending on which approach is being used the cost for bed/day, medical treatment and nursing care can be higher and lower. With this new

    Read More

  • Essay On Importance Of Financial Management

    812 Words  | 4 Pages

    • Accomplishment of funds Financial management involves the accomplishment of required fund to the business organization. Accomplishing needed funds play a major part of the financial management in an organization which involve possible source of finance at minimum cost. • Proper Use of Funds Financial management systems help to proper use and allocation of funds which leads to improve the operational activity of the business organization. If the funds use properly, so it helps to reduce the cost of capital and maximizing the value of the firm. • Financial

    Read More

  • Swot Analysis Of Hospital

    2253 Words  | 10 Pages

    India is able to obtain the competitive advantage over other countries because of the well-trained medical professionals and their dedicated services. The cost of offering health care services is very less when compared to the other Asian countries. The cost incurred for surgery in India is one-tenth when compared to United States or other Western

    Read More

More about Role Of Budgets In Health Care

Open Document