Consult with a local physicians group

Congratulations! Because you are distinguishing yourself as a skilled healthcare manager, your boss has asked you to consult with a local physicians group.
Review the mini case study on page 211 of the textbook (Chapter 8: Cost Accounting) then create a journal assignment in which you provide one or more
recommendations for ways the physician owners can improve profitability without raising rates. Your recommendations should apply the principles in Exhibit
8.5 and 8.6.
For additional details, please refer to the Module Three Journal Guidelines and Rubric PDF document.
Textbook: Introduction to the Financial Management of Healthcare Organizations opens in new window, Chapter 10 and Chapter 11
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Sample Solution

As a healthcare manager, one of the best recommendations I can provide to the physician owners who are looking to improve their profitability without raising rates is to focus on areas highlighted in Exhibit 8.5 and 8.6 from Chapter 8: Cost Accounting of Introduction to Financial Management of Healthcare Organizations. Specifically, they should look into reducing costs associated with staff and supplies while increasing revenue through better utilization of services provided by the physicians group.

To begin, they should consider implementing strategies such as increasing automation and streamlining administrative processes so that staffing levels are appropriate for the amount of work being done at any given time. Additionally, they should conduct an analysis on supply cost trends across various departments in order to identify areas where supply costs could be reduced without sacrificing quality care or decreasing service levels for patients.

In terms of increasing revenue, analyzing patient demand patterns will help them identify which services generate the most profit and adjust their marketing efforts accordingly. Furthermore, taking inventory management seriously could help reduce losses from expired medications or supplies laying around unused when demand is low; thereby improving operating margins significantly over time as it eliminates wasted resources typically caused by poor management practices. Finally, introducing payment plans or fee-based contracts tied directly to utilization increases could also incentivize providers within their network to actively seek out more profitable treatments for their patients; thus helping increase overall profits for the physicians group organically over time as well.

Transient memory is the memory for a boost that goes on for a brief time (Carlson, 2001). In reasonable terms visual transient memory is frequently utilized for a relative reason when one can’t thoroughly search in two spots immediately however wish to look at least two prospects. Tuholski and partners allude to momentary memory similar to the attendant handling and stockpiling of data (Tuholski, Engle, and Baylis, 2001). They additionally feature the way that mental capacity can frequently be antagonistically impacted by working memory limit. It means quite a bit to be sure about the typical limit of momentary memory as, without a legitimate comprehension of the flawless cerebrum’s working it is challenging to evaluate whether an individual has a shortage in capacity (Parkin, 1996).

 

This survey frames George Miller’s verifiable perspective on transient memory limit and how it tends to be impacted, prior to bringing the examination state-of-the-art and outlining a determination of approaches to estimating momentary memory limit. The verifiable perspective on momentary memory limit

 

Length of outright judgment

The range of outright judgment is characterized as the breaking point to the precision with which one can distinguish the greatness of a unidimensional boost variable (Miller, 1956), with this cutoff or length generally being around 7 + 2. Mill operator refers to Hayes memory length try as proof for his restricting range. In this members needed to review data read resoundingly to them and results obviously showed that there was a typical maximum restriction of 9 when double things were utilized. This was regardless of the consistent data speculation, which has proposed that the range ought to be long if each introduced thing contained little data (Miller, 1956). The end from Hayes and Pollack’s tests (see figure 1) was that how much data sent expansions in a straight design alongside how much data per unit input (Miller, 1956). Figure 1. Estimations of memory for data wellsprings of various sorts and bit remainders, contrasted with anticipated results for steady data. Results from Hayes (left) and Pollack (right) refered to by (Miller, 1956)

 

Pieces and lumps

Mill operator alludes to a ‘digit’ of data as need might have arisen ‘to settle on a choice between two similarly probable other options’. In this manner a basic either or choice requires the slightest bit of data; with more expected for additional complicated choices, along a twofold pathway (Miller, 1956). Decimal digits are worth 3.3 pieces each, implying that a 7-digit telephone number (what is handily recollected) would include 23 pieces of data. Anyway an evident inconsistency to this is the way that, assuming an English word is worth around 10 pieces and just 23 pieces could be recollected then just 2-3 words could be recalled at any one time, clearly mistaken. The restricting range can all the more likely be figured out concerning the absorption of pieces into lumps. Mill operator recognizes pieces and lumps of data, the qualification being that a lump is comprised of various pieces of data. It is fascinating to take note of that while there is a limited ability to recall lumps of data, how much pieces in every one of those lumps can differ generally (Miller, 1956). Anyway it’s anything but a straightforward instance of having the memorable option enormous pieces right away, fairly that as each piece turns out to be more recognizable, it tends to be acclimatized

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