Application of Healthcare Business and Financial Management Principles.docx - Running head APPLICATION OF HEALTHCARE BUSINESS Michelle Martin McDonald

Application of Healthcare Business and Financial Management Principles.docx

This preview shows page 1 - 4 out of 10 pages.

Running head: APPLICATION OF HEALTHCARE BUSINESS 1Michelle Martin McDonaldWestern Governors UniversityApplication of Healthcare BusinessC162
Background image
APPLICATION OF HEALTHCARE BUSINESS 2Application of Healthcare Business and Financial ManagementOrganizations across the country have been affected by the recent recession and Healthcare was no exception. Health care organizations have been challenged with providing quality care at a low or reasonable cost. In 2012 Medicare started rewarding hospitals for providing high quality patient care through the value base purchasing program. Participating in benchmarks and hospital surveys are keeping in line with the Centers for Medicare & Medicaid services (CMS) value base programs. According to the Centers for Medicare & Medicaid, (2019), “The Hospital Value-Based Purchasing (VBP) Program is part of our ongoing work to structure Medicare’s payment system to reward providers for the quality of care they provide. This program adjusts payments to hospitalsunder the Inpatient Prospective Payment System (IPPS), based on the quality of care theydeliver.” Northwest Medical Center is an acute care hospital in southern Florida which is afull participant of the value base program. The hospital adheres to measures such as Foleycatheter days, fall prevention, prevention of skin break down and medications requirements for diagnosed core measures. According to Medicare.gov (2020), the hospital’s rating on is a two out of five. (Three being the average ratings for hospitals). While the incentives are encouraging, the ability to provide quality care and enhancing the patient experience in a clean and safe environment are equally rewarding for the facility therefore, the hospital participates to obtain full patient satisfaction and provide optimum health. The focus of VBP is to prevent adverse events, unnecessary errors and
Background image
APPLICATION OF HEALTHCARE BUSINESS 3provide quality care at an affordable cost. Northwest Medical center in line with CMS is not focused on the quantity but the quality of care.Departments that have the most impact on VBPAll departments in the hospital have to play their role to ensure adherence to VBPhowever, I have chosen three main departments that play an integral part in meeting the goals for VBP. All departments are important for meeting the VBP requirements. The three departments and metrics I have selected below are important to carrying out the processes that will directly impact VBP. The three departments of focus are Medical surgical, Nursing and the intensive care unit (ICU).B1-B1a. Department One- Medical surgical (medsurg) department- I have chosen the medical surgical department to focus on patient safety and more specifically, prevention of catheter acquired urinary tract infections. (CAUTI). The majority of patients are hospitalized on a medsurg unit. The medical surgical team will be responsible to care for catheters and keep in line with catheter management protocol.
Background image
Image of page 4

You've reached the end of your free preview.

Want to read all 10 pages?

  • Fall '17
  • Health care provider, healthcare business

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture