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This document provides an overview of financial management in healthcare, including the different views (financial, process, clinical), types of organizations, accounting, and key concepts. The main points are: 1) There are three main views in healthcare - financial (budgets, reporting), process (systems, structure), and clinical (service delivery, outcomes). 2) Healthcare organizations can be for-profit, non-profit voluntary, or non-profit government/mixed. 3) Financial management systems gather data from original records through information and accounting systems to produce reports on revenues, costs, and performance. 4) Key concepts include assets (resources), liabilities (debts), and net worth (value after
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The document discusses auditing in healthcare. It defines auditing as the process of evaluating or analyzing something to determine its accuracy or safety. Auditing in healthcare was introduced in the early 20th century to verify the quality of care by analyzing medical records. There are two main types of audits - external audits conducted by independent auditors to review financial documents, and internal audits which are independent reviews of an organization's operations, risks, controls and governance processes. Nursing audits specifically aim to assess and improve the quality of clinical nursing care.
AUDIT.pptx
The document provides an overview of the audit process. It defines an audit and describes the various types including financial, operational, compliance, information systems, and specialized audits. It then outlines the key steps in the audit process, including planning, fieldwork, reporting, and follow-up. Planning involves notifying the client, reviewing controls and processes, and developing an audit program. Fieldwork consists of transaction testing, documentation, and communication with the client. Reporting includes draft reports, an exit conference, formal reports, and client responses. Follow-up ensures issues are resolved.
Prepare a 3-4 page, double-spaced paper (cite 3-4 reliable sources) .pdf
Prepare a 3-4 page, double-spaced paper (cite 3-4 reliable sources) that addresses the following
scenario: You are the Director of Continuing Care Services for St. Timothy’s Health Care
System, a multilevel system consisting of an array of acute and long-term services. You have
been given the task of developing an information system that will track clients over time and
place. The system will be used for clinical, financial, and management purposes. • What basic
components are essential to the system? • What challenges and barriers do you anticipate will be
encountered in planning and implementing the system? • What are the first steps you will take to
design the system? • What recent external developments enhance and impede your project?
Solution
Information System for Health Care System is very complex because it involves three important
factors like clinical ,financial and management purpose
1)Clinical Purpose like-It include results of blood lead screening of children under 5 years of
age,immunization status and encounter data recording the results of patients visiting for the test
of tuberculosis some have negative report others have positive ,if patient with positive report
then maintaining there data to monitor and record patient history and sexually transmitted
diseases
2)Financial Purpose-
I)Payroll: Handles all the recurring and non-recurring payments and deductions for employees.
All recurring transactions can be automatically generated each payroll period with non-recurring
transactions such as overtime added to the payroll upon approval. It is also possible to maintain
employee pay rates, entitlements, full salary movements and payroll histories.
II)Patient Accounting: This concentrates on financial transactions generated during a patient’s
visit to the hospital. These include inpatient and outpatient charges, doctors’ fees generated
across the hospital, the cost of procedures, operations and medications.
III)Accounts Payable: Handles the processing of invoices and payments within the hospital.
IV)Accounts Receivable: This provides support for and the maintenance of the records of all
clients, invoices and payments
3)Management Purpose-
c. Resource planning and control –
i. An online query facility for answering the number of queries on the availability, scheduling
and re – scheduling of the resources and the facilities.
ii. For judging the usage of the facilities and to put them in the proper use.
d. Medical case history database –
i. Knowledge database on the case history for the guidance and the research.
ii. Monitoring the effect of the drugs to judge the efficacy in terms of the patient’s response.
iii. Analyze the health care demand
The 5 components that must come together in order to produce a Information system are:
1.Hardware:The term hardware refers to machinery.This category includes the computer itself,
which is often referred to as the central processing unit (CPU), and all of its support equipments.
Among the suppor.
HFG Toolkit Presentation
The Health Finance and Governance (HFG) Project organized a multi-country workshop to support policymakers from public health and finance agencies in developing concrete action plans for mobilizing domestic resources for health. This presentation on the HFG toolkit addresses gaps in the Ministry of Health and Ministry of Finance relationship. The toolkit presents a set of strategies, self assessment methodologies and performance management processes to help the MOH better manage their own resources and to help foster more effective coordination between the MOH and the MOF.
CONTROLLING
This document discusses various aspects of organizational control. It defines control as monitoring activities to ensure plans are followed and deviations are corrected. There are 4 steps to the control process: 1) establishing standards, 2) measuring performance, 3) comparing performance to standards, and 4) determining if corrective action is needed. Control occurs in different areas like physical, human, and financial resources. It also occurs at different levels like operations, financial, structural, and strategic. Effective control integrates planning, is flexible, accurate, timely, and objective.
data for measurement.pptx
This document discusses information management and using data to measure performance improvement. It defines data and information, explaining that data must be analyzed and interpreted to become useful information. The goal of information management is to support decision making to improve patient outcomes, safety, documentation, and performance. It outlines the steps of data management, including collecting, tracking, analyzing, and acting on data. Performance measures are discussed, including different types like process, outcome, and balancing measures. Choosing good performance measures and tracking data over time to monitor improvement is also covered.
Medical audit_audit in hospitals and medical
The purpose of an audit is to form a view on whether the information presented in the financial report, taken as a whole, reflects the financial position of the organisation at a given date
Concepts and Theories of Financial Management.pptx
The document discusses financial management practices of NGOs based on a review of existing literature. It finds that while NGOs generally have basic accounting systems like cash books and monthly bank reconciliations in place, areas for improvement exist. Budgets are often not developed with input from financial staff and lack clear computations. Financial reporting to management and boards is not always quarterly. Grant management also needs strengthening, as senior management does not always ensure grants are used as intended in agreements. Strong financial planning, accounting systems, and internal controls are necessary for NGO sustainability and accountability.
1. In 200 words, describe how Hamlet promotes andor subverts th.docx
1. In 200 words, describe how Hamlet promotes and/or subverts the power of satirical imitation to reflect and/or reform authority.
2. In 300 words, compare and contrast how three albums that we have discussed in class promote and/or subvert the power of recording artists to satirically reform both the music industry and popular culture. (The Who Sell Out by The Who, Milo Goes To College by the Descendants, The Beatles(“White Album”) by the Beatles, Little Dark Age by MGMT)
Part I: Health Care Finance
Overview
CHAPTER 2: FOUR THINGS THE HEALTH
CARE MANAGER NEEDS TO KNOW
ABOUT FINANCIAL MANAGEMENT
SYSTEMS
Four Segments that Make a Financial
Management System Work
• Original Records — Provide evidence that
some event has occurred.
• The Information System — Gathers this
evidence.
• The Accounting System — Records the
evidence.
• The Reporting System — Produces reports of
the effects.
Four Segments That Make a Financial
System Work
• The healthcare manager needs to know that
these separate elements exist and that they
work together for an end result.
Structure of the Information System
• Identify the inputs
• Identify the outputs
• Examine the Figure 2-1 diagram in the chapter
Function of Flow Sheets
• Flow sheets illustrate the flow of activities that
capture information.
Flow Sheets are Useful Because
• They picture who is responsible for what piece
of information as it enters the system
• Examine the two examples of patient
information flows in the chapter
Figure 2-2: Flowsheets
Figure 2-3: Flowsheets
The Chart of Accounts
• Outlines the elements of your company in an
organized manner.
• Maps out account titles with a method of
numeric coding.
• Is designed to compile financial data in an
uniform manner that can be decoded by the
user.
The Chart of Accounts
• Every organization has differences in its Chart
of Accounts that expresses the unique
differences in its own organizational structure.
• Examine the three examples of different Chart
of Accounts formats in Exhibits 2-1, 2-2 and 2-
3.
Exhibit 2–1 Chart of Accounts, Format I
Exhibit 2–2 Chart of Accounts, Format II
Exhibit 2–3 Chart of Accounts, Format III
Basic System Elements: Books and
Records
• Capture transactions
• Figures 2-4 and 2-5 illustrate this concept.
Books and Records: The Sequence Is…
• Initial transaction to subsidiary journal to
general ledger;
• Review, adjust, balance through the trial
balance;
• Create reports (financial statements)
The Annual Management Cycle
• Affects the type and status of information the
manager uses
The Annual Management Cycle
• The type and status of information used by the
manager includes:
• Daily and Weekly Reports — Generally contain
raw data
• Quarterly Reports and Statistics — Generally
have been verified, adjusted and balanced. Called
“interim” reports; often used as milestones by
managers.
• Annual Year End Reports — Generally.
health management principles and methods
This document discusses health management techniques. It outlines the basic activities of management as planning, organizing, communicating, and monitoring. It then discusses several specific management techniques used in health including those based on behavioral sciences, quantitative methods, organizational design, personnel management, communication, information systems, management by objectives, cost-benefit analysis, cost-effective analysis, cost-accounting, input-output analysis, models, and systems analysis. The goal of management techniques in health is to maintain quality and equity while helping managers achieve goals efficiently.
Financial Management for schools.pptx
Financial management involves planning, sourcing, using, and controlling funds to achieve organizational objectives. It has three key elements: financial planning/budgeting, financial control, and financial decision-making regarding investments and financing. Proper financial management ensures accountability, viability, and effective use of scarce resources through practices like establishing budgets, internal controls, financial reporting, and auditing. The overall goals are to maximize benefits to stakeholders and ensure the long-term sustainability of the organization.
Financial management essentials
At the end of this presentation you will understand the essentials of financial management including building blocks and tools of financial management; accounting records; financial planning and monitoring; managing audits and how to safeguard your assets (internal control)
Internal control system
The document discusses internal control systems. It defines internal controls as processes put in place to help an organization achieve its objectives. The Committee of Sponsoring Organizations (COSO) framework categorizes internal controls into three types: financial controls, operational controls, and compliance controls. The COSO framework also identifies five key elements of an effective internal control system: control environment, risk assessment, control activities, information and communication, and monitoring. Internal audit is discussed as a way for boards of directors to evaluate whether the internal control system is operating effectively.
Internal control system
The document discusses internal control systems and the COSO framework. It provides details on the following:
1. There are three main categories of internal controls - financial, operational, and compliance controls. The COSO framework defines internal control and its objectives.
2. The COSO framework has five main elements - control environment, risk assessment, control activities, information and communication, and monitoring. These elements work together to help ensure objectives are met.
3. Internal audit is an independent function that examines and evaluates internal controls to provide assurance on their effectiveness and efficiency. Internal auditors may review various areas including financial and operational controls, compliance, risk management, and value for money.
How to Better Manage Your Veterinary Practice Finances
This document discusses various ways to manage a veterinary practice using financial data and key performance indicators (KPIs). It recommends tracking basic financial reports like the income statement, cash flow statement, and balance sheet. It also recommends using KPIs and dashboards to visualize trends in metrics like revenue, expenses, clinical outcomes, and patient/employee satisfaction. Benchmarking the practice's performance against past periods and competitors is important for strategic decision making. The overall message is that financial data should be used proactively by practice leaders to implement improvements.
Health system reform
community part 3 b .Sc. nursing course FOR the reform in health system . sustained purposeful change to improve the efficiency equity and effectiveness of the health sector.
Accounting for Managers ppt.pptx
After completing the course, students will be able to:
1. Explain key accounting concepts such as financial and managerial accounting, the accounting cycle, and preparing financial reports.
2. Distinguish accounting systems such as cash, accrual, single and double entry.
3. Apply accounting principles to prepare financial statements and analyze results.
Similar to LO1 (20)
Prepare a 3-4 page, double-spaced paper (cite 3-4 reliable sources) .pdf
Prepare a 3-4 page, double-spaced paper (cite 3-4 reliable sources) .pdf
Concepts and Theories of Financial Management.pptx
Concepts and Theories of Financial Management.pptx
1. In 200 words, describe how Hamlet promotes andor subverts th.docx
1. In 200 words, describe how Hamlet promotes andor subverts th.docx
How to Better Manage Your Veterinary Practice Finances
How to Better Manage Your Veterinary Practice Finances
LO1
- 1. Introduction to Financial Management in Healthcare HCL 2203 CLO Explain the overview of Healthcare finance
- 2. Background • Revenue is money or resources into the organization. • Expenses are costs incurred by the organization • Healthcare is a service industry providing care for patients • Three main Views:- • Financial • Process • Clinical
- 3. Financial view • Working with budgets and finances daily • They are responsible for reporting • Linked to strategic planning for the organization
- 4. Process View • Work within systems of the organization • Link to data and information systems • Linking to the structure and hierarchy of the organisation
- 5. Clinical View • Managers responsible for service delivery • Direct interaction with clinicians and patients • Responsible for clinical outcomes of the organisation
- 6. All views have four management elements • Planning – identifying the steps to achieve the organizations objectives. • Controlling – checks each area is following the set budget and processes concerned with how effective the organization. This is vital to keep within time and budget • Organizing and directing – Make most efficient use of organizations resources ( Human, financial, physical etc) • Decision making – Choosing appropriate actions to maximize organizations productivity within cost constraints. Decisions made on analyzing information collected from data analyze this and evaluate it
- 7. Types of Healthcare organizations UAE Profit orientated Non profit voluntary Non profit Government/ mixed
- 8. Role of organizational Charts • Give overview of posts and responsibilities • Focus on posts not people ( small organizations will be the opposite)
- 9. Ministry of Health organizational chart • Click on the link to see here
- 10. Types of Accounting • Financial Accounting: This is generally for outside or third party use, Focus is for auditing by Government, Insurance Auditors reporting to stockholders. This focus is transactions which have taken place so retrospective. • Managerial Accounting This is for internal use for planning and controlling performance and measuring performance on day to day basis. Is prospective as well as retrospective
- 11. Financial Management system • Need to understand overall system within organization not just parts 1. Original records – provide evidence of activity (patient treatment) 2. Information system – Gathers elements together records billing etc. 3. Accounting system – records billing and revenues 4. Reporting system – Produce reports on activity and current and projected revenue /costs
- 12. Functional flow sheet: Baker
- 13. Ambulatory Care flow sheet • System Using clinical and financial Data in same system ( inputs) • Automated medical record also here • Insurance verification from outside source (output) • Both inpatient and outpatients within system also scheduling system • Strategic elements are decision elements for managed care plans, support for demand, utilization, enrollment, and eligibility.
- 14. Assets • Economic resources which are controlled/owned by organization can be short term or long term Examples Cash Land Buildings Accounts received /Notes received Inventory Buildings Equipment
- 15. Liabilities • These are economic obligations of the organization or debts owed to outside source • Those who it is owed to are known as creditors • Examples Accounts payable Mortgage Loans Taxes Bonds payable
- 16. Net worth • This is what the business is worth once liabilities are taken out Owners equity Capital stock Fund balances