Organizational Costing & Profit Analysis

Managing a healthcare organization through revenue generation and cost control is beneficial for the sustainability of the organization. “There is a statistically significant relationship between hospital financial performance and quality of care (Dong, 2015).” Evidence supports the concept that well fiscally managed healthcare organizations deliver better healthcare to patients then organizations that do not. Conduct some research to either support or refute this claim.

Support your statements with research. Find additional resources (at least 3).

Sample Solution

A 2014 cross-sectional study Garrison, Noreen, Brewer & McGowan (2010) explored hospital financial state and hospital quality and safety at acute care hospitals.  The studies show that Hospitals facing sustained financial pressure may struggle to maintain quality and patient safety and have worse patient outcomes relative to well-resourced hospitals. Poor predictive validity may explain why previous studies on the association between finances and quality and safety have been ambiguous. This paper employs principal attribute robust measures of both financial status and quality and safety of care, to prove that hospital financial performance is associated with the provision of quality care, as measured by quality and safety processes, patient outcomes, and patient centered care.

An organization’s pay bundle could incorporate base pay, employee blessings and motivating force pay. Organizations utilize their mixture prizes bundle to attract, hold and propel employees, enhance potency, contain prices and modify everyday exercises to the business technique. To accomplish these objectives, it’s essential that organizations exactly structure motivating force pay intends to ensure that they convey the sought after outcomes.

Incentive Pay blessings

Making a gathering motivating force style will facilitate cultivate connections between employees people, urging them to get approaches to collaborate in an mixture state of affairs keeping in mind the top goal to accomplish assemble objectives. The approach will manufacture a a lot of grounded cluster, energize conceptualizing and build a unconditional feeling of task possession in spite of however you consider it. employees members understand they every should draw their own specific weight all at once for the cluster to be effective, which might counteract goldbricking or underperformance. Support and even some level of positive associate weight will facilitate guarantee everybody’s qualities are used toward accomplishing expressed goals (Michael Batton gone, 2009).

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