Read the following article which describes some of the current conflicts that grew out of recent efforts by HCOs to increase quality and decrease cost.
Nolan, T., & Bisognano, M. (2006, April). Finding the balance between quality and cost. Healthcare Financial Management, 60(4), 67–72. (AN 20440639)
The authors describe the conflict between caregivers, who see themselves as protectors of quality and patients, and finance professionals, who see themselves as protectors of the organization’s resources and bottom line. However, working together, finance professionals and caregivers can design improvement activities that both increase quality and reduce costs.
In this assignment you will apply the formula presented in the article and then analyze improvement activities that could occur in a fictitious hospital. The minimum and maximum values are provided for each component of the formula. You will create a spreadsheet that calculates the minimum and maximum value for the formula given the range of inputs.
Use the following information for a fictitious hospital:
|Worked hours/patient day||4.2||5.04|
Using a spreadsheet:
Based on the calculations, answer the following questions in a 2-page Word document:
Prepare a report with both the spreadsheet and the Word documents. (You may embed the spreadsheet in the Word document.) Apply APA style to format your documents.
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