Finance and reimbursement over the case study

Fund Economics, Economics And Fund, Bankruptcy, Rising Cost Of Medical

Excerpt via Case Study:

The Steps that Can be Taken up Address Economical and Refund Issues

The best way for handling costs, is always to find out wherever specific waste materials and improper use of money is occurring. This will help administrators to identify those areas where there is a deficiency of accountability and ineffective regulates. Once this occurs, you would then start seeking out particular recommendations from your different office heads regarding: how they can control costs and increase output. This will allow all of us to determine particular tactics that can be utilized on the divisional level to efficiently control costs. (Santerre, 2010. pp. 416- 432)

The next phase is to seek out some other sources of outside loans (such while grants). Place be used to help modernize the facility and offer funding achievable programs which might be in demand. This allows the hospital to be able to finance and expand different services that they are providing. During the period of time, this will help to to increase require within the community. While at the same time, it is able to keep the fundamental costs feasible. This when the hospital will begin to: address the many financial difficulties and price controls that they will be facing. (Santerre, 2010. pp. 416- 432)

To improve the reimbursement program, the hospital may look at: the outsourcing these types of services to 3rd party invoicing companies and collectors. This will vastly reduce the staff costs and it will improve the effectiveness of the program simply by: having these kinds of organizations centering on helping the business to maximize it is profits. This is important, because in the event this kind of strategy can be taken it will ensure that any kind of compensation programs will be effective at collecting the costs that are payable to facility. This will reduce costs and possible write offs that the clinic may have got from uncollected debts. (Santerre, 2010. pp. 416- 432)

Clearly, Washington dc Hospital The hospital has been faced with a number of different issues from: increasing costs and a lack of economic controls. This can be problematic, as it causes many different issues to affect the long lasting viability from the facility. To address these problems there needs to be a variety of improvements including: discovering areas where there is a lack of accountability, seeking out / implementing specific recommendations for controlling costs on the departmental level, improving outside sources of loans and utilizing third parties intended for billing as well as collection types of procedures. If such changes can be implemented, this will ensure that service is able to adjust to rising costs and the changes in various compensation programs. This will improve the financial foundation of the hospital, helping to get rid of the possibility of bankruptcy.

Bibliography

Pickert, K. (2010). The Unsustainable U. S. Health Care System. Time. Gathered from: http://swampland.time.com/2010/02/04/the-unsustainable-u-s-health-care-system/

Santerre, 3rd there’s r. (2010). Overall health Economics. Mason, OH: Cengage.

Zelman, W.