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Which financial metrics do you think are the most important to healthcare organizations?

Business and Finance

Business and Finance

Which financial metrics do you think are the most important to healthcare organizations?

Please be sure to focus on the questions and answer based on facts from the text, class notes, plus be sure to incorporate your own thoughts and opinions.  In addition, please feel free to incorporate outside references/resources.

Tthis is an opportunity to further assess your understanding of the subject matter.

The format should be 12 point type, one inch margins, and at least 5 pages and no more than 8 pages, excluding cover and reference pages

The due date for this assignment is end of day (11:59pm) on Thusrsday, May 5, 2022

Questions:

#1 – During the course, there has been discussion about some challenges and opportunities in health care.

.  Describe five of the key factors that distinguish a health care organization from other industrial organizations.

.  Also explain three ways operations managers apply their knowledge to achieve system improvements and change.

(Be sure to include your own thoughts and opinions?)

#2 – There was also discussion about the issue of Operations Management and how it has changed especially when health care is concerned.

.  Explain how operations management has changed since its early days as a scientific management.

.  Why are certain certifications, like Six Sigma, ISO 9000 and Lean, playing an important role in health care, as they have in other industries.

.  In addition, are there others that you know about or have experienced?

#3 – Issues related to Project Management were also presented in this course.

.  Outline a project to reduce patient wait times in an hospital’s emergency department and include the following:

–  Who should be part of the project team in order to resolve the issues or concern?

-. What skills should be included and who should lead the project?

–  How you would identify success in the end?

#4 – There was also a focus on Quality and Six Sigma, ISO 9000 and Baldridge criteria.

.  Which would you find more appropriate to your industry that you are most familiar (it does not have to be a health care setting)?

.  Describe what the setting is, which is most appropriate and why?

#5 – Financial performance was another topic covered in this course.

.  In a hospital setting, how important is it to provide the opportunity for physicians to be involved in financial performance?

.  What is the best strategy for physician engagement?

.  Which financial metrics do you think are the most important to healthcare organizations?

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