Decision Making .docx
- 1. Decision Making 6 Decision Making Gurbani Virk HCA312: Health Care Finance Instructor: Margaret McGannon Date Submitted: September 14, 2015 Director of Data Support Systems I chose the position of Director of Data Support Systems, because this position works with the Chief Information Officer and has several finance staff members that report to them. This position makes sure that the financial data systems are operating. The other officer that is related to the position I chose is the treasurer, who is responsible for the financial resources, but they all report directly to the (CFO). The Chief Account Officers, (CAO), the directors of planning and budgeting, will also report to the Director of Data Support Systems, as well as other officers within that team. “For internal operations, including routine accounting services, contracting and support of patient financial services, operational budgeting, and data support, it is reasonable to expect that qualified managers will have a good understanding of the data and the skills of finance personnel” (Bull, 1993).
- 2. On the organizational Chart in most health care organizations the order of command is (CEO), chief executive officer, the (CFO) chief financial officer, the (CAO) chief accounting officer which is on an equal level with the (CFO), but under the (CAO) are the director of budgeting, the director of planning and analysis, the director of data support and the treasure. There is an analyst in each department and a Director of Data plays a part in all areas of a patient experience, they produce reports and facilitate a comprehensive overview from a business aspect which helps decision making that helps support strategic initiatives. A (DDSS) develops and direct the clinical support programs through a planned process for monitoring and evaluating the quality of health care provided to customers. This position directs the work of clinical decision support to help with the compliance and regulatory standards. This position shows superior leadership and it requires the ability to teach. You have to be able to work with management personnel, doctors and the community (Emory 2012). A lot of data is stored within the health care IT system, at one time this information was not available to the administer, clinicians and/or the doctors. Data support has ways of been revenue focused and centered around finances and their results, there has been a number of health care organization that have now moved over to a IT data support structured system overhaul to have a more integrated financial intelligence, so that there will be support and more effective decision making on the part of all the medical staff, this will also help with a better patient outcome. I do not work for a health care organization, but I chose a hospital that is close to me and that I am familiar with,” Emory Healthcare (EHC) is an integrated academic health care system committed to providing the best care for our patients, educating health professionals and leaders for the future, pursuing discovery research in all of its forms, including basic, clinical, and population-based research, and serving our community.
- 3. As the clinical enterprise of the Robert W. Woodruff Health Sciences Center (WHSC) of Emory University, EHC is dedicated to the unifying core purpose, core values, and strategic direction of the WHSC. With few exceptions, healthcare data is in silos—with clinical data in one place and financial data in another. Rarely do the two meet; most organizations keep collections of financial data so far removed from the clinical data that it’s difficult to understand the relationship between the two” (Emory 2012). A Director of Data Support provides financial reports also to the Board of Directors, they provide data to managers that will help them look at the over all areas of patient process and patient experience. They report re-admission rates and patient safety using unique data sources, we use a system today to updates data automatically and all the data support team has to do is analyze and audit the new data. To fully understand your costs and identify areas of waste, you need good data support, which is the best method for integrating and harnessing the potential of all of your data. Data support is used to push cost improvements and it gives insight needed to go forward to help reduce waste related to health care cost, to do this and be successful you have to have a strong effective group of people to implement the data and to make it work. This team should consist of doctors, nurses, and business analysts, their focus should be on reducing the cost of certain items, decreasing time for testing, etc. Use of proper software, data support and an effective team, will help develop standardized metrics that will ensure compliance and tracking improvement. “Forty percent of healthcare organizations report having completely eliminated some of their capital projects; 48 percent of these organizations also report delayed capital projects; and, only 29 percent have continued with their projects as originally budgeted, 17 As the economy slowly heads into a recovery phase, 43 percent of healthcare organizations expect an increase in their operating income and expenses, and most anticipate that capital expenses would account for one to ten percent of their
- 4. organization’s overall budget. Though the state of the economy and ongoing healthcare reform efforts limit forecasting of long- term trends in Organizations’ capital spending, it is clear that technology-focused projects will dominate the short term spending landscape” (O'Leary, 2011). As far as capital investment goes, you have to have the right alternative, in order for the cost of capital to be assessed, the revenue will need to be analyzed and the funding would have to be maintained and assessed as well. Reference Bull, Jason M. Capital Budgeting in Healthcare Organizations. 1993. Retrieved from: http://hdl.handle.net/10920/25824 Emory, J. Capital Budgeting in the Healthcare Industry. November 14th, 2012. Retrieved from: http://www.businessandhealth.com/capital-budgeting-in-the- healthcare-industry.html O'Leary, Keith. Money well spent - Health Facilities Management. Dec 5, 2011. Retrieved from: http://www.hfmmagazine.com/display/HFM-news-