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MOD006934 Managing Finance In Health And Social Care Organisations

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  • Course Code: MOD006934
  • University: Angila Ruskin University
  • Country: United Kingdom

Question:

Task

For a Health and Social Care organisation of your choice you are required to undertake a critique of the budgetary and financial decision making processes adopted by that organisation.

Key areas for your consideration: 

1)How are budgets set for a department or function within healthcare organisations (such as a ward, pathology department, catering, dementia
clinic etc ) 

2)Explore best practice for reporting budgetary performance from a theoretical perspective incorporating, for example, frequency of reporting, content of a budget report, the selection of a budget holder and the roles of key persons
within the reporting structures. 

3)  Answer EITHER option:

a)Critique your theoretical model of budget reporting to the reporting practices within a healthcare organisation of your choice

OR

b)Prepare a briefing note for new colleagues explaining the national and local factors that will directly impact upon, or influence, the viability of healthcare budgets with a NHS Trust.

Each element carries the same weighting 

4)It is essential before any major investment is made in the provision of healthcare there is a detailed and robust analysis of the long term financial impact. Techniques such as Net Present Value and Payback are common techniques.

As an experienced healthcare manager the deputy director of finance has asked your opinion on the following analysis

How do you interpret the outcome of the appraisal?

Set out FIVE questions you would ask the Deputy Director of Finance to explore and explain before you would be happy to support the proposal.

 

 

Year 0

Year 1

Year 2

Year 3

Year 4

 

Year 5

 

£

£

£

£

£

£

Training

100,000

-25,000

-25,000

-25,000

-25,000

-25,000

Cost of New Dressings

 

 

 

 

 

 

200

 

 

138,462

138,462

138,462

138,462

138,462

Cost of old style Dressings Saved

 

 

 

 

 

 

40

6

 

48,000

48,000

48,000

48,000

48,000

 

Savings arsing for early discharge of in patients

 

 

 

 

1200

200

 

240,000

240,000

240,000

240,000

240,000

Net Cash Flow

 

100,000

124,538

124,538

124,538

124,538

124,538

1.07

 

1

0.935

0.873

0.816

0.763

0.713

Discounted cash

 

 

 

 

 

 

 

flow

 

-100000

116391.1

108776.7

101660.5

95009.8

88794.2

 

 

 

 

 

NPV

410632

 

Assessment Criteria

The analysis must be supported by academic theories and concepts and the paper must comply with the format stated above and Harvard referencing guidelines. The reflection must not be descriptive in nature; it should provide clear evidence of understanding of the issues under consideration with an applied review of the business

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My Assignment Help (2020) Managing Finance In Health And Social Care Organisations [Online]. Available from: https://myassignmenthelp.com/free-samples/mod006934-managing-finance-in-health-and-social-care-organisations/management-of-healthcare-finances.html
[Accessed 25 November 2020].

My Assignment Help. 'Managing Finance In Health And Social Care Organisations' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/mod006934-managing-finance-in-health-and-social-care-organisations/management-of-healthcare-finances.html> accessed 25 November 2020.

My Assignment Help. Managing Finance In Health And Social Care Organisations [Internet]. My Assignment Help. 2020 [cited 25 November 2020]. Available from: https://myassignmenthelp.com/free-samples/mod006934-managing-finance-in-health-and-social-care-organisations/management-of-healthcare-finances.html.


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