Financial Management And Healthcare Policy

Financial Management And Healthcare Policy

Financial Management And Healthcare Policy, In this assessment, you will research a cost control policy that is in effect at your organization or one that you research. In doing so, you will detail the impact this policy has on the organization, its unintended consequences, and a possible alternative. APA.

All healthcare organizations must be aware of cost controls, regardless of nonprofit or for-profit status. Managing costs at all levels of the organization affects the bottom line, which has a direct effect on all aspects of the organization. This assessment is designed to help you analyze why organizational policies are put in place. In addition, it will help you understand the role of operations in a healthcare setting, which is to ensure a high quality of care is maintained across all departments.

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Financial Management And Healthcare Policy

You are working in an organization that is conducting an audit of a determined number of policies to determine if they are effective in their current state or if improvements and updates are needed (and alternatives need to be created).

Your first step is to find a policy at a healthcare organization related to cost controls. Include the following in your report.

Summarize the details of the policy:

• When was the policy put in place?
• Was it adopted system-wide, in one department, or multiple departments?
• What does the policy address?
• What is the potential impact of not following the policy at the organizational level? Unit level? Individual level?

Explain how the policy impacts fiscal aspects of the organization:

• How does the policy act as a cost control?

Financial Management And Healthcare Policy

Describe how the policy impacts the quality of patient care:

• Does the policy improve efficiency?
• Are the goals to improve care and reduce costs?

Explore the unintended consequences:

• What secondary impacts does the policy have on the organization? Unit? Staff? Patient?
• Does the policy need revision?

Suggest alternatives to the policy:

• In your opinion, is the policy the best way to address the issue? Support your position by explaining why or why not.

Cite at least 3 evidence-based, peer-reviewed sources published within the last 5 years to support your position(s).

Note: Students who do not work at a facility can research a policy related to cost controls by locating a facility and conducting an interview “virtually” (e.g., via Zoom or by phone), or the student could research a facility’s policies without conducting an interview.