Venice Family Clinic Capital Budget proposal.pptx

Venice Family Clinic Capital Budget proposal.pptx - VENICE...

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VENICE FAMILY CLINIC CAPITAL BUDGET PROPOSAL Anne Murtha August 2017 Instructor: Keith Graham IHP-450 Healthcare Management and Finance
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Provide quality primary health care to people in need. Bring affordable health care for those who live in poverty. Provide a full comprehensive medical, mental health, supportive, specialty, as well as educational services to all. Through treatment, prevention, care management and the importance of the promotion of good health. Highest quality community care. VFC MISSION
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VFC FINANCIALS According to the Venice Family Clinic’s Financial Statement (2012), the organization suffered a loss of $1,814,255. The clinic had earned a total of $41,052,317 however; their expenses totaled $42,866,572 therefore leaving a deficit of $1,814,255 for that fiscal year. The ratio of income (ROI) to expenses at 41:42 shows the clinic suffered a yearly loss. The organization’s year end June, 30 th 2017 financial report, the clinic earned a total of $47,573,854, which is a significant increase of $5,723,347 from their prior 2016 total of $41,850,527. When we take into consideration Venice Family Clinic’s operating costs and expenses of $39,208,190 the clinic netted a profit of $8,365,664. 2012 2017
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VFC PROPOSAL EHR SYSTEM
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BEFORE & AFTER Without an EHR Paper Charting Patient/Provider Accessibility More time & Money Quality of Care Lack of efficiency Medical errors High volume of Clinicians and staff spending hours filling out and processing forms With an EHR Electronic charting Provider/Patient Accessibility Fast and Cost Savings over-all Efficient Reduction in Medical errors Sharing of Medical Information digitally
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FUNDING MODEL The direct allocation would work well for this non-profit organization because this allocation process is comprised of a one-time allocation of all costs from departments that have costs but do not generate revenue (NR), such as the housekeeping department, to cost centers of departments that do generate revenue (R), such as the laboratory” and this family clinic is comprised of both non-generating revenue and revenue generating departments. In addition, I would also utilize the traceablility method as well in order to see where their major expenses are occurring and to adjust the budget accordingly .
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MANAGEMENT OF COSTS Cost Savings Profit/Losses EHR system will aide in increasing the number of patients seen per day Workflow and productivity and increase revenue for the organization without sacrificing patient care or quality Reduction in errors with patient care costs EHR system can reduce over-all operational costs for example in transcription services and cutting down on any overtime expenditures.
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  • Fall '18
  • Electronic health record, VFC

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