Bon Secours Financial Plan
In this paper we will discuss Bon Secours Health System and their financial plan for a three year time period, and how they will achieve their financial goals and maintain financial stability. The proposed budget for patient services is expected to increase with the Bariatric services and cardiac care services. These to objectives have been a struggle in to get in place in obtaining approval for the Bariatric Care Center and the Vascular Unit needs approval.
Elements of the Projected Budget
There are five basic elements that the organization should be considering as part of their process and they include:
Establish budget priorities (Goal/Vision statement)
Determine short and long term capital needs
Sound revenue/resource forecasting
Budget proposals with level of service objectives
Timely presentation of plans and financial data (City of Langley, 2014).
There are many factors to consisting when preparing a budget. First is to assess the needs of the community, what the priorities need to be, what are the challenges and the opportunities. Bon Secours Health System when assessing the needs for Bariatric and Vascular care, they looks at the current care being provided in the community for these types of services, once they determined there was a need they went through the needs process to obtain permission to build these facilities.
The next factor would be an internal assessment to review what currently the organization has available to meet these goals and to determine what would still be required. To meet these goals Bon Secours Health System needed to find high qualified medical staff to provide the care for the patients. Recruiting Cardiologist and Gastroenterologist physicians, nursing staff that have extensive experience in these two specialties. Obtaining needs approval which show that the area has a shortage of this type of care. Part of this process is to ensure that the services match the community needs. Putting the policies and procedures in place and getting the staff to buy into this new venture will be a priority. The human resources available to the organization will need to be evaluated.
The Business plan on Factors Effecting the Service and Financial Performance of Pia
Corruption at its peak:14 Less technology advanced as compared to its competitors:15 Poor image:15 Lack of training facilities:15 SWOT Analysis of Pakistan International Airlines:16 STRENGTHS:16 LEADING MARKET POSITION:16 BRAND RECOGNITION:16 SUPERIOR OPERATING STRUCTURE:16 NETWORK PRESENCE:17 HUB AIRPORT AT KARACHI:17 EFFECTIVE USE OF TECHNOLOGY:17 WEAKNESSES:17 FORMULATION OF GOVT. RULES:17 HIGH ...
Expenditure Planning and Contingency Plans
The funding for these two ventures have been in the making for approximately five years, so this has been part of their strategic plan and funding has been growing to meet the needs of putting these programs into action. I talked with Administrator at Maryview Medical Center and he stated that the costs of implementing these two programs costs about one third more than originally budgeted, he stated two reasons for this was advances in technology costs and building costs due to delays.
Bon Secours Health System needed to absorb higher costs and to help with this they put a hold on a new cancer center that was scheduled to break ground, but was put on hold until these two programs where up and running. The organization wanted to have services up and revenue being generated before the cancer center would move forward, the cancer center was put on hold for an additional 18 months during this time.
Financial Facts
Bon Secours Health System provides a large amount of charitable care, the organization since it began in 1824 with the Sisters of Bon Secours, 12 women from Paris, France. To this day the sister monitor every aspect of the organization, which includes the finances. A self-pay committee reviews patients care needs and makes determinations as to how and when the organization can assist in providing the services. Each month Bon Secours provides surgical care to approximately 350 patients system wide to the tune of $650,000.00 (Stemen, 2015).
This would include vascular, cardiac and gastric bypass patients.
Bon Secours Hospital wants to try a new payment model, in which the Baltimore hospital would address community health problems to lower admissions, the Baltimore Business Journal reported. That would make Bon Secours the first urban hospital to use the state’s Total Patient Revenue (TPR) model, which pays hospitals one lump sum for their services, rather than per service payments (Caramenico, 2013).
The Essay on Community Health Advocacy
The aspects of community and aggregate are closely connected and people tend to use the terms interchangeably. The best way to explain the difference between the two concepts is by examples to differentiate and get a clearer understanding of the difference between the two concepts. This paper will define aggregate and community giving a brief support from current literature. The paper will also ...
Budget Summary
The organization strategic plan consists of addressing clinical quality, growth, and becoming a larger part of the community, and providing long term value. The annual report states the following strategic goals (Bon Secours, 2012): Increase its commitment to community health to include global community and the health of the environment; Form relationships within the community of providers so that people who seek information or services from Bon Secours can be linked with the best community resources; Create value as perceived by the customer, which includes not only patients and residents, but also physicians, employees, and community members;
Achieve financial sustainability so that Bon Secours can ensure long-term relationships with and value for those it serves. The budget meets the vision and mission of Bon Secours and sticks to the financial plans that have previously put into place. For these two programs to be successful, there was the need to review internally for resources and financial needs. Bon Secours is a Catholic health care organization that dictates who it does business always with consideration to the community and the patients it serves.
Conclusion
Implementing a new plan comes with challenges, for Bon Secours it is no different. Finding the right mix of what the community needs while meeting the mission and vision is the top priority for Bon Secours. In planning they found two needs that would improve the health of individuals within the community, so work began on a new vascular and bariatric care centers. Putting a sound financial plan in place to ensure the financial stability of these programs was challenging given that funding resources needed to be developed. In the end Bon Secours successfully developed, planned and implemented two programs, meeting the community needs.
The Essay on Evolution of Community and Public Health Nursing 2
Key health issues during the American Revolution, there were high rates of smallpox, yellow fever, cholera, typhoid, typhus, tuberculosis, malaria and infant mortality. Community and public health’s major goal was Improving sanitation among all areas in all communities. The AMA developed a committee to take surveys on sanitation and taking vital statistics. A few years later the Shattuck report ...
References
City of Langley, WA. (2014).
Essential elements of the budget process. Langley, WA. Stemen, L., (2015).
Self-pay/Charity Committee.
Caramenico, A. (2013, September 17).
Bon Secours wants community health payment model. Fierce Healthcare. Retrieved from http://www.fiercehealthcare.com/story/bon-secours-wants-community-health-payment-model/2013-09-17. Bon Secours. (2012).
2111 Annual Report. Retrieved on 7/20/15 from http://www.bshsi.com/assets/hso/BSHSI_Annual_Report-2011FINAL.pdf.
