Financial proposal for healthcare organisation
Student’s Name
Institutional Affiliation
Financial Proposal For Health Care Organizations
Background information
Health care organization need to have a key financial plan which would ensure there is the prosperity of the respective organizations. With a good clear plan for the organization, it would ensure there are available resources and have adequate manpower, which would ensure the delivery of the services (Baker, Baker, & Dworkin, 2017). There is a need to have a clear plan which would ensure there is a clear strategy which the organization can adopt during its planning, and this would promote the growth of the firm and improve the delivery of the services. There are resources gaps in the organization which would need to get resolved to ensure there is a good flow of the resources in the course of the operations in such an organization.
Historical perspective of resources gaps
In health care, the main gaps which have been reported are the gap in human resources and keep on affecting the delivery of the services in the sector. It’s a problem that needs to get resolved, and this would promote the progress in the organization. With the analysis of various health care facilities across the country, it’s evident that there is fewer personnel in the sector, which has led to poor delivery of the services. In addition to that, there is also a gap in the capital resources in the health care facilities, and this has prompted the nursing shortage in various facilities (Stevens, 2019). These gaps were realized in the organization due to the challenge which was experienced in the facilities while delivering the services. For instance, there are fewer nurses, which increases the number of patients who are attached to one nurse. On the other hand, the capital resources gaps were identified after the organizations failed to meet the needs of the operation in the course of the operation.
A detailed description of the gaps
There are two common gaps in health care organizations, and this includes capital and human resources, which hurt the organization. However, there have been numerous requests from the various health care organizations to have the gaps being filled, and this would promote the growth prospect in the organization(Stevens, 2019). Its the quest of every stakeholder to ensure all the gaps which have been identified in the organization have been resolved.
SWOT analysis
Strengths
Cost advantages
In the health care organization, there are cost-effective, which would ensure there are effective operations(Stevens, 2019). With proper management of the resources, it would ensure there is an adequate flow of the operations.
Extraordinary reputation
There is a good reputation in the health care organization from the patient, which ensures there is a good working relationship. It has ensured the success of the health care organization.
Weakness
Lack of a financial plan
Most of the health care doesn’t have a financial plan which could be adopted and ensure the organization identifies all the resources gaps in the course of the operations.
Poor technology facility
There is poor technology advancement in the health care organization, which affects the delivery of the services in the organization. Many health care facilities depend on the old method of technology, which is a significant blow to healthcare development.
Opportunities for health care
Availability of new market
There is an available market in which health care organizations could make good use and promote the growth of the organization shortly.
Vacation of competitors
Some competitors have left the market, and this promotes the success of the company in the market (Stevens, 2019). There will be an increased market share for the company, and this would increase the profit of the company.
Threats
New competition in the market
There are competitions in the markets that affect the company, and this could lead to progress. For instance, there is a reduced market share for the health care organization, thus affecting the profits scale of the company.
Value proposition
Health care organization have introduced innovative measures which are intended by the company to have key features which would ensure there are attractive measures which would attract more customers in the market (Stevens, 2019). Through the business statement, the health care organization would ensure it can integrate with the customers effectively.
Support request
The health care organization would get geared toward ensuring the business have support request which would ensure the business integrates with the customers effectively and promotes the delivery of the services.
Cost related to the resources gap
There will be a cost that would be needed for the business to meets the current resources gap in the market, which would affect. For instance, the main cost which the healthcare organization would experience is the operation cost, and the recurrent cost as the business thrives on ensuring the business achieves all the set goals which the health care organization has established(Rosenthal, 2018). It’s important to note that if the cost which the business needs to support health care has been advanced, it would be difficult for the company to achieve all the goals which they have set.
Budget for filling the gap
There is a budget in which the health care organization would need to fill the gap. For instance, there is a need to have the cash budget in place, and this would cater to all the daily expenses which the business has (Rosenthal, 2018). In addition to that, the business would need to draft a flexible budget, which would ensure all other expenses which the company has in the process have been resolved, and the company can now fill the gap required.
Measurable goals
There is a need to have a proper assessment of the company to ensure all the set strategies in the company have been quantified. For instance, there will be a measurable measure on the implementation plans of the goals which have been set by the organization(Partners, 2019). On the other hand, there are other goals which the business also needs to resolve to ensure the objectives in which the health care organization has been achieved in the company. It’s good to note that the measurable measures which the company has get achieved in the long run.
Plans for implementation
After identification of the gaps in the health care organization, the next course of action would be to ensure the company implements the plans and delivery of the plan. The current proposal in the company would be implemented on different phases, and once the proposal has been submitted (Partners, 2019). To have a successful implementation plan, it would require the health care to have a special committee that would oversee the implementation and have the evaluation process done by the company. All the gaps need adequate resources, and the company should be willing to provide the resources and thus ensure there is an effective implementation plan.
Budget sheet for health care
| Budget sheet for health care organization | ||
| Income | Year 1 | Year 2 |
| Individual donors | ||
| Private foundations | ||
| Government funds | ||
| Health care incomes | ||
| General expenses | ||
| Salaries and wages | ||
| Development | ||
| Equipment | ||
| Depreciation on equipment | ||
| Administrative expenses | ||
| Accounting and other legal services | ||
| Suppliers and software | ||
| Internet and telephone | ||
Data analysis
Health care analytics is essential in the organization because it helps to analyze all the relevant data in the organization and ensure there is an effective analysis of the data, which is also used in the company to have all the data collected and analyzed by the company. There are crucial data that are processed, which could be derived from the pharmaceutical and also the clinical data, which could either be derived from the electronic data.
Trending analysis
Trending analysis is an essential aspect of the business, and this could lead to the business making all the essential analyses, which would help the business improve in delivering the services (Stevens, 2019). There is a need to have projection and also assessment in the company, which would ensure the business can deliver quality and efficient services to the patient in the various health care organization.
Closing statements
Health care organization plays an essential role in the society, and thus there is a need for the various resources gaps which have been identified to be resolved. They are essential resources that are needed in the organizations, and once it resolved, it would ensure there are adequate resources that enhance the growth of the company in the market. With the financial proposal which has been put in place in the business, it would ensure there is a financial prospect in the company.
Work Cited
Baker, J. J., Baker, R. W., & Dworkin, N. R. (2017). Health care finance. Jones & Bartlett Learning.
Casalino, L. P., Erb, N., Joshi, M. S., & Shortell, S. M. (2015). Accountable care organizations and population health organizations. Journal of health politics, policy, and law, 40(4), 821-837.
- Niles, N. (2019). Retrieved 9 December 2019, from https://pdfs.semanticscholar.org/61db/7ae527137590a1bf4cab0e9c711a4f3667dc.pdf
Partners, H. (2019). :: GE Healthcare Partners:: Thought Leadership – Integrated Strategic Financial Planning. Retrieved 9 December 2019, from https://uscan.gehealthcarepartners.com/service-thought/integrated-strategic-financial-planning
Rosenthal, E. (2018). An American Sickness: How Health Care Became Big Business and How You Can Take It Back. Missouri Medicine, 115(2), 128.
Stevens, F. (2019). Financial planning for the long-term. Retrieved 9 December 2019, from https://www.healthcarefinancenews.com/blog/financial-planning-long-term
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