Venice Family Clinic Capital Budget proposal.pptx

Ehr system also provides advanced e prescribing and

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EHR system also provides advanced e- Prescribing and clinical documentation capabilities, which will grow as the organization grows E-Prescribing would cut down on errors in lost or misread prescriptions, also allows the physician to communicate directly with the pharmacy CMS Medicare and Medicaid incentive programs help eligible providers earn incentives for adoption and meaningful use of EHR technology EHR system will improve the over-all performance of a healthcare practice all while enhancing the efficiency and accuracy of the patient billing process Per Choi J., Lee W., Rhee P., (2013), there will be less money spent on office supplies and storage spaces to house at least 7 years of paper information. Based on a study the over-all adoption of an EHR resulted in growth in administrative costs, it is still cost-effective since the cumulative (NPV) Net Present Value was positive. The positive NPV was attributed to both cost reductions and additional revenues. Obtaining the necessary equipment, hiring the staff for implementation and training staff on the EHR’s standard operating procedures can all be costly tasks for a healthcare organization. There are many financial incentives available to help in the recouping of these costs. Specifically through CMS Medicare and Medicaid incentive programs help eligible providers earn incentives for adoption and meaningful use of EHR technology.
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WORKING CAPITAL FACTORS
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CLASSIFICATION OF COST ELEMENTS Classification Cost Financing Options Procurement Activities Licensing Interfaces & HIE Computing Hardware Ancillary Devices & Equipment Other Employee Costs (salaries) All Supplies (drugs, consumables, paper, cleaning supplies, etc.) Overheads (electricity, water, taxes, fees for audit, etc.) Charitable Donations VFC Fund Raisers VFC Facility line of credit as a last resort.
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HEALTHCARE TRENDS The trends that will increasingly impact our healthcare participants over the next few years include: Patients becoming more informed consumers Growth of structured quality measures Information technology innovations driving inter-stakeholder communications
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STRATEGIC PLANS An Electronic Health Record (EHR) is a digital version of a patient’s chart. The EHR came into place as a result of the 2009 American Recovery and Reinvestment Act of 2009. Contain a patient’s medical history, diagnoses, medications, treatment plans, immunization dates, allergies, radiology images, and laboratory and test results Allow access to evidence-based tools that providers can use to make decisions about a patient’s care Automate and streamline provider workflow
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CASH FLOW
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REVENUE CYCLE MANAGEMENT
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BUDGET STATEMENT According to Bragg (2017), financial statements are one of the most important aspects to the organizational budgeting of all healthcare facilities. They will provide managers with income statements in details that allow them to start the budgeting process. They are collections of reports about an organization's financial results, cash flow, and financial conditions.
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  • Fall '18
  • Electronic health record, VFC

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