Background Tulsa Memorial Hospital (TMH) is one of the nine acute care hospitals that serves in the general population area. Historically, it has been highly profitable due to its well-appointed facilities, excellent medical staff, good-standing reputation for quality care and its ability to give individual attention for each of its patients. The hospital, in addition to its inpatient services, operates an emergency department and an urgent care center located two miles from the hospital across the street from a major shopping mall. Urgent care clinics are for individuals seeking non-life threatening treatment. These clinics provide another level of care to the community and the intentions of urgent care are not to replace emergency …show more content…
Harley looks to his chief of financial officer, Nicole Williams to investigate whether close urgent care clinic, continue operating the clinic as is or to continue operating with an expansion of a new marketing program. The cost to close, based off its long-term building lease of the clinic, is $37,500. Data Collection
Analyses used to collect the data were the profitability, break-even and utilization/volume. A dashboard analysis was also used. To analyze the profit of the organization over the next five years, profitability analysis was used with considering inflation rates for each item. Break-even analysis was used to compare the amount of additional visits per day if the clinic operated as-is to operating with the expansion of the new marketing program. The break-even analysis was also used to recognize the volume required to cover the costs of the marketing program. The dashboard analysis was then used to summarize all analyses used.
Data Analysis With no change to volume, the forecasted average month profit and loss statement sought no profit for the average month of 2014. If TMH were considering to implement the new marketing program, they would have to generate an additional twenty-eight visits to break even. As Figure 1 shows, without the program, the hospital would have to generate an additional of twenty visits a day. Without implementing the program we found
1. Using the historical data as a guide, construct a pro forma (forecasted) profit and loss statement
Due to the industry’s heavy reliance on word-of-mouth, it is assumed that the brochures will result in low conversion. However, it would help to increase Elite’s awareness within its desired market. If 20% of initial customers sign up one friend by the end of the first year, the water bottles and t-shirts would have an ROI of 2.07%. This would result in an additional $5,760 in sales.
This paper pertains to the marketing of Health Care Services and provides the steps and history of marketing in health care and the effects of marketing on the health care delivery system from 1950 to 1990. It introduces the health care consumers and their role in the marketing process as well as the factors that influence consumer behavior. These factors influence the success of marketing in health care. It also provides the requirements for successful marketing and current techniques and strategies used by health care organizations.
When the CEO looked at the financial statement for the previous year he found that they had a loss of $256,000 (Rakish et
The quality of care in an urgent care center is just a good in an emergency department for non-emergency care. The differentiating factor is follow-up care. Most emergency department physicians do not see their patients for follow-up care and only 2/3 of the patients will follow
Since most specialty procedures are inpatient services, EMC’s inpatient occupancy rate suffers. The occupancy rate for Emanuel Medical Center – fifty percent – is far below that of its competitors and industry benchmarks. To accompany this, EMC (on average) receives a lower reimbursement for in-patient Medicare services per patient seen in comparison to its competitors. A result such as this is correlated with directly to the fewer amount of specialty services that EMC offers. In order for Emanuel Medical Center to be able to compete with other hospitals in its service area, it is imperative that EMC evaluates what services they currently offer and are capable to offer in the future to add value to the hospital, increase its revenue stream, and expand its patient mix. Currently, Emanuel Medical Center has not succumbed to its increasing financial pressurealthough EMC has had a negative operating income for five straight years. A negative operating income places EMC at a disadvantage because it limits the hospitals ability to renovate its aging building or hire new specialists to offer revenue enhancing procedures. EMC’s competitors, on the other hand, have large sources of revenue due to their mergers with large healthcare networks such as Catholic Healthcare West. Another competitor, Kaiser Permanente Modesto Medical Center, has extremely large financial resources due to the fact
Peace Memorial Hospital is a 600-bed, independent, not-for-profit, general hospital located on the southern periphery of a major western city. It is one of six general hospitals in the city and twenty in the county. After doing much research, the Board of Directors has decided that they should open an ambulatory location in the downtown area, to be known as the Downtown Health Clinic (DHC). The clinic will have 4 major objectives: “1. To expand the hospital’s referral base, 2. To increase referrals of privately insured patients, 3. To establish a liaison with the business community by addressing employers’ specific health needs, and 4. To become self-supporting three years after opening” (Kerin
WeCARE Family Clinic will be dependent upon support from Phoebe-Sumter Medical Center. They will cover my salary and payroll taxes for the first year of operation. As patient volume
* Revenue: Patient service revenue be reported net of estimated adjustments and does not include charity care. Include note disclosures of method revenue recognition and management’s policies for providing charity care and notes charity care provided. Operating revenues cover patient service revenue, premium revenue based on agreement for a fixed fee, other revenue from parking fees, gift shop, cafeteria, and tuition. The unrestricted gifts; investment income for current unrestricted purposes be classified according to the policy there in.
Urgent Care: In essence, an urgent care clinic bridges the gap between visiting the emergency room for a life-threatening injury and visiting your primary care physician that may require an appointment weeks in advance. Urgent care clinics offer an array of services from performing physicals and providing flu shots to treating minor
When your alarm went off you instantly realized you felt pretty sick. The scratchy throat from the night before turned into something much bigger, and now your head throbs, your ears ache and you have chills from head to toe.
Alamance Regional Medical Center employed Shakira Kea PRN for the past two years. I have worked personally with Shakira over a year, not only as a co-worker but as her supervising charge nurse. This department was saddened by the news that Shakira was leaving, but knows she will be an asset wherever she goes.
Columbus, Ohio Memorial Hospital (COMH) has implemented an electronic medical record (EMR) since 2010, which has clearly demonstrated great improvement in patient care. During my work experiences, one of the concerns the physicians voiced were they were unable to communicate patient information to other providers or staff without having access to electronic medical records (EMR) in front of them, at that given time. The concerns expressed were that there was countless times that a physician had to wait on lab results to base their decision on patient care, while located at another facility. Physicians have experienced the frustration of inconvenient, slow or missing communication in their facilities when caring for their patients. In addition,
Along with having the desire to work in the field of dietetics, I have made extensive contributions to my current and previous employers. These
In 2015, Jackson Memorial Hospital had $ 1,252,551,454 in total operating revenues with total operating expenses of $1,588,328,771 generating a total operating loss of 335,773,317 ( p. 18). Jackson Memorial however, ended the 2015 fiscal year with positive numbers due to its non-operating revenue. Due to Jackson’s total non-operating revenue of $467,855,586, net income ended at $209,430,749 (Public Health Thrust of Miami-Dade, 2015, p. 18). Compared to 2015, Jackson Memorial’s operating numbers were slightly low in 2014. Jackson Memorial had $1,173,157,623 in total operating revenues with total operating expenses of $1,506,814,082 generating a total operating loss of $333,565,459 in 2014 (Public Health Thrust of Miami-Dade, 2015, p. 17).