MARKET RESEARCH AND SEGMENTATION
Using the attached paper, please prepare a powerpoint that does the following. This powerpoint is a continuation of the one posted, please add up to 15 slides to the one posted.
- The intent of the SLP is for you to transform the theoretical and general aspects as covered and based in each module’s case paper, to a “Board-meeting” presentation.
- The SLP (like the cases) is a cumulative project that will demonstrate the culmination of your understanding and your ability to identify the key points of your case work, and transform them into relevant slides utilizing Microsoft PowerPoint software (PPT).
- Remember that the presentation will be submitted to the “MHA599 Consulting Team” (MHA599CT) board of directors at their bi-weekly board meeting, so presentation needs to be directed to this executive audience.
- I am confident that you will enjoy developing this project, and hone your business presentation skills in the process.
Guidelines for Effective PowerPoint Presentations
- Do not attempt to dazzle your audience with psychedelic visual effects, multi colors, and eye-boggling animations.
- Do not just copy and paste your case text into the slides.
- Focus on the content and what message you want to get across to the board.
- Think Audience – Ensure that all slides are viewable (i.e., relevant text in viewable font size.)
- “one picture is worth a thousand words” – include graphs, diagrams, etc., as appropriate.
- Do not use all caps except for titles.
- Keep the background consistent and subtle.
- Use only enough text when using charts or graphs to explain; clearly label the graphic.
- Keep the design clean and uncluttered. Leave empty space around the text and graphics.
- Check the spelling and grammar.
SLP – Organization
- The number of slides per module should be about 10-15.
- Prepare and submit the sectional/modular slides for each module, adding the preceding ones (i.e., in Module 2 you will combine and submit sections 1 and 2, and so on.
- Amend each section per the feedback you will get from your instructor.
- Finally, you will aggregate all sections into one complete and comprehensive PPT following the SLP framework detailed below, and submit together by the due date of Module 4.As stated in the course and modular outcomes, you are expected to demonstrate critical thinking and a solid analytical and theoretical knowledge of all previous courses in the program.
Furthermore, emphasis should be inputted on applying what you already know to the task of developing an individual project that reflects synthesis, integration, and real-life application (action plans).
As the environment is of a real-life project team, you will be assessed as to how well you present your work to your company and peers (writing and presentations).
Feedback and comments from your instructor and peers should be implemented and early recommendations adjusted accordingly.
MARKET RESEARCH AND
SEGMENTATION
Golden Age Hospital
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Background
Mission Viejo municipality is a large health facility that serves a big population.
The total population comprises of 48.5% males and 51.5 % female.
The municipality has two big health care facilities that serve a radius of approximately 10 miles.
Mission Hospital Regional Foundation Centre acts as a communal ship due to its functions.
Background
Currently, the Mission Viejo municipality has a larger population of approximately 500,000 people according to the latest census of 2012. The total population comprises of 48.5% males and 51.5 % female. The county has two main healthcare facilities that provide services to the community of radius of approximately 10-miles. The Mission Hospital Regional Foundation Centre acts as a communal ship due to its functions. Besides, the mission health Centre is prominent to partner with other facilities such as CHOC Children’s (Burgess, Shaw & Kellas, 2011). The two healthcare facilities provide services to a total of nine municipalities at Viejo. These municipalities are San Juan Capistrano, Aliso Viejo, Laguna Niguel, Lake Forest, Laguna Hills, Laguna Woods, Mission Viejo, Ladera, and Rancho Santa Margarita.
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Background cont…
Also, the mission health Centre is prominent to partner with other facilities such as CHOC Children’s (Burgess, Shaw & Kellas, 2011).
The facilities serve nine municipalities which include: San Juan Capistrano, Aliso Viejo, Laguna Niguel, Lake Forest, Laguna Hills, Laguna Woods, Mission Viejo, Ladera, and Rancho Santa Margarita.
THE EXTERNAL ENVIRONMENT
Common senior medical situations
The Golden Age Hospital performs an important role in the community because it provides quality healthcare services to infected people and the old.
Many common health conditions affect the old age in the municipality.
Some of the health conditions include: heart attack conditions, lungs problems, and coronary diseases.
Presently, it is challenging to deal with these health conditions due to lack of enough facilities.
Thus, an extra wing of the Golden Age Hospital will help to provide quality health care.
Common senior medical situations
The makeup of the Golden Age Hospital in the Mission Viejo and its surroundings is useful because it provides quality healthcare services to infected people and the old. Many common health situations affect the old age in the municipality. These most common health conditions include heart attack conditions, lungs problems, and coronary diseases, which has been reported in places like Aliso Viejo and Laguna Hills (Collins, Connor, Mott & Hickey, 2015). Currently, dealing with these common healthcare conditions is challenging because there are no enough health facilities that can provide all needed services to the public. In most cases, senior medical situations need special attention which should be addressed with more care. Therefore, there is need for an extra wing at the Golden Age Hospital that should to be specifically responsible to handle senior medical conditions only.
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MAJOR MEDICAL INSTITUTIONS
The senior healthcare institution in the municipality is the two hospitals located in Viejo.
It primarily provide acute healthcare services and respite healthcare services to the elderly.
These healthcare services are susceptible.
Therefore, it can allow caregivers to attend to other daily routines.
Major Medical Institutions
The senior healthcare institution in the municipality is the two hospitals located in Viejo that primarily provide acute healthcare services and respite healthcare services to the elderly. These healthcare services are susceptible; thus, it can allow caregivers to attend to other daily routines.
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Market Research and Segmentation
Targeting and location of Golden Age Hospital
Statistically, the number of aging population is increasing rapidly thus, requires more health care attention.
Development and modernization of an extra wing in the facility will help to provide supplementary services.
In the nine counties, around 17.5 % of the total population is fifty-five years of age assuming the average age is 77 years (Havers & Evans, 2010).
The need for an extra wing in the city is driven by the increase in several medical conditions among the aging population.
Targeting and location of Golden Age Hospital
According to the current situation in the city, there is a need for more wing of the facility to prove healthcare services to the aging population that requires more attention. The development and modernization of more extensions in the facility will help to provide supplementary services to the two existing hospitals to deliver excellence healthcare services to old people. Statistically, in the nine counties, around 17.5 % of the total population is fifty-five years of age assuming the average age is 77 years (Havers & Evans, 2010). The latter implies that approximately 77,000 people out of the aggregate population are susceptible to various medical situations. According to the 2016 report, the aging population in the nine municipalities is increasing daily, thus creating the need for extra wings to help to provide supplementary health care services to the aging population
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Demographic reasoning
The average income distribution of the people in Mission Viejo region is relatively high even if the demographic situations is unfavorable.
Mission Viejo is located in an industrialized nation where a lot of demographic configuration had taken place.
Also, the birth rate in the city is relatively low compared to longevity rates.
As such, an extra wing is necessary to provide special health care services to the aging population.
Demographic reasoning
The average income distribution of the people in Mission Viejo region is quite high even though the demographic situations is not favorable. Generally, Mission Viejo is located in an industrialized nation where a lot of demographic configuration had taken place. The latter implies that birth-rate is relatively slower, while longevity rises (Havers & Evans, 2010). Typically it is fair if the continuation and birth-rate move concurrently to establish a balanced input versus output in the society. Nevertheless, this seems to be challenging, and the governments feel unable to control it due to the rapid increase in the aging population among the locals. As such, an extra wing that will be specifically targeting the aging population will help to solve the problem because it will provide more Medical care to a larger group of the aging population.
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Physical specialized health care services
The establishment of the Golden Age Hospital in the city will provide more benefits to residents of different ages.
The aging population will benefit more than any other groups because most health care service will be dealing with lifestyle health conditions.
Currently, the young age population is well considered with health care systems are standard to meet all their needs.
The facility should focus on patient with health conditions like: oncology and Cardiology, resilience service, and occupational services (Stoichiţă, 2012)
Physical specialized health care services
The formation of the Golden Age Hospital will be a scene of success not only to the aging population but also to other patients who has some severe health care conditions. Currently, the younger age is well catered for, but the middle age and the aging population are the ones facing problems that should be attended to ensure equality in health care delivery within the municipality (Havers & Evans, 2010). As such, the primary issues that should be handled well is finding specialized health care practitioners to treat common diseases among the aging population. Some of the sensitive services that the facility should offer are like oncology and Cardiology, resilience service, and occupational services (Stoichiţă, 2012).
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Medical Centre Services Preferences
Apart from construction of another wing, the Golden Age Hospital will play an important role in dealing with health care situations in the city.
However, this will create a need for more health care professionals, skilled, trained home caregivers, and knowledgeable individual to provide healthcare services (Rogers, 2014).
Additionally, trained health care professionals are presently working in unsafe environments.
Medical Centre Services Preferences
Besides the establishment of another wing is the formation of the Golden Age Hospital which will reduce cases of older people staying at home to seek for health care services from community health workers who do not offer standard care services. As such, this will create a need for more health care professionals, skilled, trained home caregivers, and knowledgeable individual to provide healthcare services (Rogers, 2014). Additionally, trained health care professionals are presently working in unsafe environments. Therefore, it is crucial to have partners to ensure that health care services providers work on safe and conducive environments. The latter will help to ensure that quality health care services are provided to all people regardless of the age factor.
On the other hand, home healthcare services delivery in developed nations should be standard health care services to the targeted group of people. However, the use of home care services to provide services leads to overall loss on the nation’s Gross Domestic Product that needed human labor in different sectors (Rogers, 2014). But the Golden Age Hospital was recommendable and useful to offer quality services.
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SERVICES OFFERED AT GOLDEN AGE HOSPITAL
Outpatient service
In-patient services
Specialized services
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Medical Centre Services Preferences cont.…..
It is necessary to have partners to ensure that health care services providers work on safe and conducive environments.
Home healthcare services delivery in developed nations should be standard health care services to the targeted group of people.
Generally, the use of home care services to provide services leads to overall loss on the nation’s Gross Domestic Product that needed human labor in different sectors (Rogers, 2014).
But the Golden Age Hospital was recommendable and useful to offer quality services.
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Recommendations
Due to the current condition, the establishment of a new wing of the GAH will help to solve the main problems facing the city.
The establishment of the an extra wing will help to solve both fundamental and critical health care services.
Conclusively, the setting up of a new health care facility branded as the GAH to incorporate the organizational ideal to provide quality healthcare services.
ORGANIZATION STRUCTURE AND FUNCTIONS
Golden Age Hospital
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Shared services and functions
GAH and the community clinic share common functions and services offered to their clients. These services include:
Outpatient services
Inpatient services
Specialized services
x-ray,
radiotherapy
blood tests
Common services provided by GAH and the community clinic
GAH and the community clinic provide common services to patients. First, the facilities will provide essential health care services, such as outpatient services and in-patient services. These services are provided to all ages, regardless of social classes. Besides, the two facilities provide laboratory services such as x-ray, radiotherapy, and blood test, among other laboratory services (Burns & Muller, 2018).
*
Organizational relationship between structure blocks
The Golden Age Hospital will have a hierarchical organizational structure.
In each level within the organization will have a health professionals who provide quality health care services.
The top management will engage in strategic planning and creation of policies that will improve efficiency in the facility.
Also, there will be division of tasks to help in the smooth running of activities at different levels within the facility.
Organizational relationship between structure blocks
The GAH will have a hierarchical organizational structure with different level of management. Each level within the organization will have a health professional who is mandated to assume their roles with professionalism to increase the standards of health care services offered to patients (Bieberstein, Bose, Walker & Lynch, 2015). As such, the top management will engage in strategic planning and creation of policies that will improve efficiency in the facility. Besides, there will be a division of tasks to help in the smooth running of activities at different levels within the facility. For instance, doctors, clinicians, and nurses will have distinct roles to promote efficiency and services delivery.
*
Integration of services of physicians within the GAH
The Golden Age Hospital will provide health care services to a different groups of people.
However, it will mainly provide quality healthcare services to infected people and the old.
As such, integrating functions of physicians will be helpful to provide quality services to the aging population to improve quality of life in the city.
Integration of services will help to offer health care service to many patients within a short period.
Integration of services of physicians within the GAH
Since the facility will mainly provide health care services to the aging population, it is necessary to integrate functions of physicians to help in providing quality services to the aging population to improve quality of life in the city. Integration of services will help to offer health care service to many patients within a short period.
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Management aspects
The management aspect plays an essential role in enhancing the smooth flow of activities.
The Golden Age Hospital should borrow the ideas of management aspect to help running activities within the facilities (Burgess et al. 2011)
Management theories will be adopted to create a clear channel on how to run the activities of the hospital.
To achieve all organizational goals and missions, specialization and division should be encouraged .
Management aspects
Generally, the management aspect plays an essential role in enhancing the smooth flow of activities. Similarly, to help the GAH to achieve its goals and objectives, there is a need to borrow the ideas of management aspect to help running activities within the facilities (Burgess et al. 2011). As such, management theories will be adopted to create a clear channel on how to run the activities of the hospital. In doing so, specialization and division of labor will be encouraged to ensure health care professionals are assigned duties in their areas of expertise to improve efficiency.
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Organizational forms
The General Age Hospital will have a conventional hierarchy organizational form.
This organizational structure encourages division of labor and specialization to improve quality of health care services.
The facility will comprise of the top management, which includes the Chief Executive Officer, Chief Administrative Officer, Human Resources Managers, and medical officers
Organizational forms
The GAH will have a conventional hierarchy organizational form. In this form, the division of labor and specialization will be encouraged to improve the quality health care services offered to patients (Burgess et al. 2011). The facility will comprise of the top management, which includes the Chief Executive Officer, Chief Administrative Officer, Human Resources Managers, and medical officers, among other health care professionals. In this organizational form, there will be specialization and division of labor amongst doctors, nurses, clinicians, and laboratory technicians.
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The mission statement of the GAH
The following are the primary mission statement of the GAH:
To meet all health care needs of the aging population by offering special considerations to treat diseases affecting the elderly.
To enhance the mental health of vulnerable people by creating easy access to health care services to all groups of people.
To provide access to all medical services by all patients regardless of social classes and level of income.
Reinforce health care projects and programs to help in help in empowering activities that aim at improving the quality of health care within the municipality.
The mission statement of the GAH
Typically, a mission statement plays an essential role in an organization by establishing objectives of an institution and how to achieve. Similarly, the Golden Age Hospital has a clear mission statement that will help it to achieve its goals. Since that facility seeks at solving a health problem in the city, it will concentrate on meeting the needs of the locals to improve the quality of life in the city. Below is the primary mission statement of the GAH:
- To meet all health care needs of the aging population by offering special considerations to treat diseases affecting the elderly.
- To enhance the mental health of vulnerable people by creating easy access to health care services to all groups of people.
- To provide access to all medical services by all patients regardless of social classes and level of income.
Reinforce health care projects and programs to help in help in empowering activities that aim at improving the quality of health care within the municipality.
*
Recommended hospital size
Currently, the rate of health care needs in the city for the aging population is rising steadily.
The facility should be sized to accommodate all patients who will be visiting the facility to seek medical services.
The establishment of the Golden Age Hospital in the city will provide more benefits to residents of different ages.
The GAH should have a minimum number of 550 beds to accommodate many patients at once (Stoichiţă, 2012).
Recommended hospital size
Currently, the rate of health care needs for the aging population is rising steadily. As such, the facility should be sized to accommodate all patients who will be visiting the facility to seek medical services. Therefore, the GAH should have a minimum number of 550 beds to accommodate many patients at once.
*
The organizational structure of Mission Hospital
CEO
Lab technicians
Chief Administrative Officer
Clinicians
Nurses
Human Resources Manager
Chief Medical Officer
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Proposed Organizational structure of the GAH
CEO
Lab technicians
Chief Administrative Officer
Clinicians
Nurses
Human Resources Manager
Chief Medical Officer
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Main services to offer at the Golden Age Hospital
The General Age Hospital will offer a variety of services. These services include:
Attack diseases
Lungs problems
Hormonal problems
Cancer, diabetes
coronary ailments
Kidney problems
Main services to offer at the Golden Age Hospital
According to the finding from the survey, the aging population is affected most with health care conditions. As such some of primary treatment that will be offered include heart attack diseases, lungs problems, hormonal problems, cancer, diabetes, coronary ailments, kidney problems, bone marrow issue among other lifestyles diseases (Burgess et al. 2011). Besides, the facility will also offer out-patient services, in-patient services, and comprehensive medication treatment to patients.
*
References
Bieberstein, N., Bose, S., Walker, L., & Lynch, A. (2015). Impact of service-oriented architecture on enterprise systems, organizational structures, and individuals. IBM systems journal, 44(4), 691-708.
Burgess, C., Shaw, C. & Kellas, J. (2011). Health & social care. Harlow: Heinemann.
Burns, L. R., & Muller, R. W. (2018). Hospital‐Physician Collaboration: Landscape of Economic Integration and Impact on Clinical Integration. Milbank Quarterly, 86(3), 375-434.
THE END
THANK YOU!
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Background
Currently, the Mission Viejo municipality has a larger population of approximately 500,000 people according to the latest census of 2012. The total population comprises of 48.5% males and 51.5 % female. The county has two main healthcare facilities that provide services to the community of radius of approximately 10-miles. The Mission Hospital Regional Foundation Centre acts as a communal ship due to its functions. Besides, the mission health Centre is prominent to partner with other facilities such as CHOC Children’s (Burgess, Shaw & Kellas, 2011). The two healthcare facilities provide services to a total of nine municipalities at Viejo. These municipalities are San Juan Capistrano, Aliso Viejo, Laguna Niguel, Lake Forest, Laguna Hills, Laguna Woods, Mission Viejo, Ladera, and Rancho Santa Margarita.
*
Common senior medical situations
The makeup of the Golden Age Hospital in the Mission Viejo and its surroundings is useful because it provides quality healthcare services to infected people and the old. Many common health situations affect the old age in the municipality. These most common health conditions include heart attack conditions, lungs problems, and coronary diseases, which has been reported in places like Aliso Viejo and Laguna Hills (Collins, Connor, Mott & Hickey, 2015). Currently, dealing with these common healthcare conditions is challenging because there are no enough health facilities that can provide all needed services to the public. In most cases, senior medical situations need special attention which should be addressed with more care. Therefore, there is need for an extra wing at the Golden Age Hospital that should to be specifically responsible to handle senior medical conditions only.
*
Major Medical Institutions
The senior healthcare institution in the municipality is the two hospitals located in Viejo that primarily provide acute healthcare services and respite healthcare services to the elderly. These healthcare services are susceptible; thus, it can allow caregivers to attend to other daily routines.
*
Targeting and location of Golden Age Hospital
According to the current situation in the city, there is a need for more wing of the facility to prove healthcare services to the aging population that requires more attention. The development and modernization of more extensions in the facility will help to provide supplementary services to the two existing hospitals to deliver excellence healthcare services to old people. Statistically, in the nine counties, around 17.5 % of the total population is fifty-five years of age assuming the average age is 77 years (Havers & Evans, 2010). The latter implies that approximately 77,000 people out of the aggregate population are susceptible to various medical situations. According to the 2016 report, the aging population in the nine municipalities is increasing daily, thus creating the need for extra wings to help to provide supplementary health care services to the aging population
*
Demographic reasoning
The average income distribution of the people in Mission Viejo region is quite high even though the demographic situations is not favorable. Generally, Mission Viejo is located in an industrialized nation where a lot of demographic configuration had taken place. The latter implies that birth-rate is relatively slower, while longevity rises (Havers & Evans, 2010). Typically it is fair if the continuation and birth-rate move concurrently to establish a balanced input versus output in the society. Nevertheless, this seems to be challenging, and the governments feel unable to control it due to the rapid increase in the aging population among the locals. As such, an extra wing that will be specifically targeting the aging population will help to solve the problem because it will provide more Medical care to a larger group of the aging population.
*
Physical specialized health care services
The formation of the Golden Age Hospital will be a scene of success not only to the aging population but also to other patients who has some severe health care conditions. Currently, the younger age is well catered for, but the middle age and the aging population are the ones facing problems that should be attended to ensure equality in health care delivery within the municipality (Havers & Evans, 2010). As such, the primary issues that should be handled well is finding specialized health care practitioners to treat common diseases among the aging population. Some of the sensitive services that the facility should offer are like oncology and Cardiology, resilience service, and occupational services (Stoichiţă, 2012).
*
Medical Centre Services Preferences
Besides the establishment of another wing is the formation of the Golden Age Hospital which will reduce cases of older people staying at home to seek for health care services from community health workers who do not offer standard care services. As such, this will create a need for more health care professionals, skilled, trained home caregivers, and knowledgeable individual to provide healthcare services (Rogers, 2014). Additionally, trained health care professionals are presently working in unsafe environments. Therefore, it is crucial to have partners to ensure that health care services providers work on safe and conducive environments. The latter will help to ensure that quality health care services are provided to all people regardless of the age factor.
On the other hand, home healthcare services delivery in developed nations should be standard health care services to the targeted group of people. However, the use of home care services to provide services leads to overall loss on the nation’s Gross Domestic Product that needed human labor in different sectors (Rogers, 2014). But the Golden Age Hospital was recommendable and useful to offer quality services.
*
*
*
*
Common services provided by GAH and the community clinic
GAH and the community clinic provide common services to patients. First, the facilities will provide essential health care services, such as outpatient services and in-patient services. These services are provided to all ages, regardless of social classes. Besides, the two facilities provide laboratory services such as x-ray, radiotherapy, and blood test, among other laboratory services (Burns & Muller, 2018).
*
Organizational relationship between structure blocks
The GAH will have a hierarchical organizational structure with different level of management. Each level within the organization will have a health professional who is mandated to assume their roles with professionalism to increase the standards of health care services offered to patients (Bieberstein, Bose, Walker & Lynch, 2015). As such, the top management will engage in strategic planning and creation of policies that will improve efficiency in the facility. Besides, there will be a division of tasks to help in the smooth running of activities at different levels within the facility. For instance, doctors, clinicians, and nurses will have distinct roles to promote efficiency and services delivery.
*
Integration of services of physicians within the GAH
Since the facility will mainly provide health care services to the aging population, it is necessary to integrate functions of physicians to help in providing quality services to the aging population to improve quality of life in the city. Integration of services will help to offer health care service to many patients within a short period.
*
Management aspects
Generally, the management aspect plays an essential role in enhancing the smooth flow of activities. Similarly, to help the GAH to achieve its goals and objectives, there is a need to borrow the ideas of management aspect to help running activities within the facilities (Burgess et al. 2011). As such, management theories will be adopted to create a clear channel on how to run the activities of the hospital. In doing so, specialization and division of labor will be encouraged to ensure health care professionals are assigned duties in their areas of expertise to improve efficiency.
*
Organizational forms
The GAH will have a conventional hierarchy organizational form. In this form, the division of labor and specialization will be encouraged to improve the quality health care services offered to patients (Burgess et al. 2011). The facility will comprise of the top management, which includes the Chief Executive Officer, Chief Administrative Officer, Human Resources Managers, and medical officers, among other health care professionals. In this organizational form, there will be specialization and division of labor amongst doctors, nurses, clinicians, and laboratory technicians.
*
The mission statement of the GAH
Typically, a mission statement plays an essential role in an organization by establishing objectives of an institution and how to achieve. Similarly, the Golden Age Hospital has a clear mission statement that will help it to achieve its goals. Since that facility seeks at solving a health problem in the city, it will concentrate on meeting the needs of the locals to improve the quality of life in the city. Below is the primary mission statement of the GAH:
- To meet all health care needs of the aging population by offering special considerations to treat diseases affecting the elderly.
- To enhance the mental health of vulnerable people by creating easy access to health care services to all groups of people.
- To provide access to all medical services by all patients regardless of social classes and level of income.
Reinforce health care projects and programs to help in help in empowering activities that aim at improving the quality of health care within the municipality.
*
Recommended hospital size
Currently, the rate of health care needs for the aging population is rising steadily. As such, the facility should be sized to accommodate all patients who will be visiting the facility to seek medical services. Therefore, the GAH should have a minimum number of 550 beds to accommodate many patients at once.
*
*
*
Main services to offer at the Golden Age Hospital
According to the finding from the survey, the aging population is affected most with health care conditions. As such some of primary treatment that will be offered include heart attack diseases, lungs problems, hormonal problems, cancer, diabetes, coronary ailments, kidney problems, bone marrow issue among other lifestyles diseases (Burgess et al. 2011). Besides, the facility will also offer out-patient services, in-patient services, and comprehensive medication treatment to patients.
*
*
Good Luck and Enjoy!
Running head: MODULE 3: FINANCE AND BUDGETING 1
MODULE 3: FINANCE AND BUDGETING 2
Module 3: Finance and Budgeting
DeMario J. Stackhouse
MHA – 599
Dr. Tina Evans
Trident University International
Finance and Budgeting
The construction of the Golden Age Hospital will require a reasonable amount of money to ensure that the facility constructed meet the standards stipulated in the layout. For instance, to build a 550-bed capacity, the management of the facility should have a budget of close to $ 800 million. The amount will be used to construct primary supporting that will help to provide quality health care services to the targeted groups (Young, & Kroth, 2018). The amount will also be enough to purchase all medical equipment that will be used to offer specialized services to the aging population. As such, it is appropriate for the sponsor of the project to avail all financial requirements needed to finish the construction project.
Even though the government will procure most of the health care equipment, legal procurement procedures should be followed. Doing so will help to ensure that all equipment purchased are standard and are capable of offering quality health care services to the targeted groups. As such, if the government should make all purchases on its own, people assigned to budget and procure that equipment should know to ensure they purchase useful items (Young, & Kroth, 2018). Purchasing of the right equipment will help to provide quality health care services to patients. Also, while making procurement activities, technological concepts should be considered to ensure that procured equipment does not become obsolete quickly with changes and advancement in technology.
Since most of the clients who will be served within the facility will be 65 years and above, it implies that they will only be having Federal Medicare health insurance. Intuitively, there is a need to know how Medicare health coverage will be handled to ensure that all patients access all health care services. Also, the Golden Age Hospital should have competent financial professionals to manage funds properly.
Furthermore, the amounts will be considerate and enough to run all operations of the facility’s activities. The facility will maintain this by ensuring that all governments’ contributions are disbursed in time, and all payments from individual patients are collected in time. Moreover, the management of the GAH should make reasonable financial projections to ensuring operating costs do not exceed the total income that might result in losses.
Medicare Prospective Payment System
The reimbursements by the government will be done based on the predefined amounts not according to the cost incurred when treating a patient. In doing so, the government should ensure that reimbursement is done in time to facilitate the smooth running of all the facility’s operations (Bieberstein, Bose, Walker & Lynch, 2015). Also, this will help to avail enough financial resources for the facility to enable it to run its activities well.
The reimbursements made by the government should be enough to enable the facility to offer quality services. Consequently, this will generate enough financial resources that will allow the facility to make some expansion to increase services delivery (Burgess, Shaw & Kellas, 2011). The disbursement of all government’s financial supports and incentives should be made at the beginning of every year. The latter will allow for proper planning and allocation of resources to all departments to facilitate for running all organization’s activities to ensure the smooth running of operations.
Moreover, prospective payment should be considerate. Besides, the government should not strictly assess the amounts spent by the Golden Age Hospital to determine the amount of medical insurance fund to offer to health care facilities in the region. Since the GAH will be mainly offering specialized health care services to the old, the government should not interfere with their operation.
The General Age Hospital Project
| A
To be filled by the student |
B
To be filled by the student |
C
Filled by Instructor |
D
To be filled by the student |
E
Filled by Instructor |
F
To be filled by the student |
| Service / Treatment | Estimated Medicare reimbursement to GAH. (each 10 to 60 thousands of dollars) | Projected number of procedures/treatments performed annually | Total income
B*C |
GAH projected performance relative to federal standards | GAH projected annual gain (or loss).
D – D*E |
| Treatment ABC | $10,000 | 75 | $750,000 | 80% | $150,000 (do not add this line to total) |
| Outpatient Services | $31,000 | 85 | $2,635,000 | 75% | $658,750 |
| Inpatient Services | $50,000 | 50 | $2,500,000 | 110% | -$250,000 |
| Specialty Services | $10,000 | 200 | $2,000,000 | 80% | $400,000 |
| Physical Therapy | $29,000 | 150 | $4,350,000 | 90% | $435,000 |
| Cardiology | $49,000 | 50 | $2,450,000 | 120% | -$490,000 |
| Neurology | $21,000 | 100 | $2,100,000 | 100% | $0 |
| Oncology | $12,000 | 60 | $720,000 | 75% | $180,000 |
| Orthopedics | $19,000 | 75 | $1,425,000 | 85% | $285,000 |
| Geriatric | $14,000 | 110 | $1,540,000 | 95% | $77,000 |
| Miscellaneous expenses | $10,000 | 25 | $250,000 | %250 | -$375, 000 (minus) |
Interpretation
The net loss illustrates that the hospital is likely to incur more profit than expenses in the first year of operation. The latter is because it will have more income than the amount the costs needed to offer the services provided. As such, there is a need to implement suitable measures to reduce or minimize expenses for the facility (Burns & Muller, 2018). This will ensure continued growth and increased profit, in the years to come.
Conclusion
Conclusively, the results obtained from the calculations show that the Golden Age Hospital will make a loss of $1,115,000 during the first year of operation. The main reason why the facility is likely to cause damages is that its total expenses will excess of the total income that will be generated from its services. Therefore, the management of the GAH, project committee, and stakeholders should put appropriate measures. Putting appropriate measures will ensure that the Golden Age Hospital has enough financial resources to run its activities.
Recommendations
According to the above results, the GAH is likely to make losses in the first year of operation. Therefore, it is appropriate for the management, and the stakeholders of the project to consider the following recommendations to minimize or avoid making massive losses in the futures:
i. Increase the charges of services that require more resources and advanced technology to offer. For instance, the management needs to increase costs on surgical services and radiotherapy, which require more attention and resources to provide to patients. In doing so, the facility will be able to generate enough financial resources that will be enough to run all its operations as well as making reasonable profits.
ii. The management of the Golden Age Hospital should set a limit on the number of services offered to specialized services to reduce expenses.
iii. The facility should apply for enough government support and incentives to help to generate income that will enable it to offer quality health care services to all patients. Besides, using for government incentives and support will help the Golden Age Hospital to provide all health care services need by patients.
iv. Lastly, the Golden Age Hospital should reduce its annual miscellaneous expenses. The latter will help in reducing the total costs for the facility and thus, will help in enabling the Golden Age Hospital to offer quality services to its clients.
References
Bieberstein, N., Bose, S., Walker, L., & Lynch, A. (2015). Impact of service-oriented architecture on enterprise systems, organizational structures, and individuals. IBM systems journal, 44(4), 691-708.
Burgess, C., Shaw, C. & Kellas, J. (2011). Health & social care. Harlow: Heinemann.
Burns, L. R., & Muller, R. W. (2018). Hospital-physician Collaboration: Landscape of Economic Integration and Impact on Clinical Integration. Milbank Quarterly, 86(3), 375-434.
Young, K. M., & Kroth, P. J. (2018). Sultz & Young’s health care USA: Understanding its organization and delivery.