Description: Preferred language style: English (U.S.)
The requirements for this paper is to search for an article that is related to future trends of health care finance and have to answer these following questions in a 700-1050 word paper.
1. From your own practice’s perspective within the health care industry, what impact does this trend have on you (being me), your organization (being Baptist Memorial Hospital Memphis), and the services Baptist Memorial Hospital delivers?
2. What considerations must be given to budgeting, staffing, lines of business, scope of practice and other impacts given the trend and my role at Baptist Memorial Hospital? I am a Nuclear Medicine technologist.
3. What type of strategic plans must Baptist Memorial Hospital Memphis consider, given #1 and #2 above?
4. What aspects of this course will prepare me as a leader to act and/or react to these plans and trends?
This paper needs to be in proper APA format. This paper needs to have subheadings. Title Page. Headings and at least 5 references. Write me if you have futher questions.
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Introduction to the Baptist Memorial Hospital, Memphis
Baptist Memorial Hospital – Memphis is one of the main hospitals belonging to the Baptist Memorial Hospital Systems. The hospitals provide tertiary medical care and were inaugurated in the year 1979. More than 700 beds are present in the hospital. More than 125, 000 patients visit the hospital annually on an outpatient basis. More than 27, 000 patients are hospitalized and about 54, 000 receive critical care. The hospital is one of the largest belonging to the Tennessee region. The emergency care unit works for 24 hours a day and 7 days a week. A pediatric emergency unit is also present in the hospital. More than 800 children are seen in the pediatrics unit every month (Baptist Memorial Health Care, 2007).
Nuclear medicine Services available at Baptist Hospital
Amongst the various diagnostic and laboratory facilities available at the Baptist Memorial Hospital are the Nuclear medicine services, which include nuclear cardiology, nuclear medicine, PET scans, etc. These outpatient services are available at a Diagnostic Pavilion, and more than 10, 000 patients utilize these facilities every day. The nuclear medicine technologists have several functions in the Hospital. They have to ensure that the PET scans and other nuclear imaging techniques are performed in a proper manner. They should be able to administer the radioisotope so that the scanner is able to detect the image and the entire procedure is performed efficiently. The radio nuclear medicine technologist should be able to solve the problems that arise in relation to the nuclear medicine equipment. The technologists have to ensure that certain standards in safety are brought about so that no risks develop to the patients and to the healthcare professionals. Nuclear imaging helps to study the functional nature of the tissues and are of innumerable uses in medicine (BLS, 2006). The Baptist Hospital has a cardiac Institute known as ‘Baptist Heart Institute’, which would be requiring the services of the nuclear medicine technologist. As a significant segment of the population suffers from heart-related disorders, they would be requiring the services of the nuclear technologists (Baptist Memorial Health Care, 2007).
Resource Management at the Nuclear Medicine Sector
The budgeting costs in the Nuclear medicine sector would be very high. As these equipment and material are highly specialized and newly introduced, the costs of acquiring them and operating them would be specifically very high. Hence, individuals belonging to the lower socio-economic groups may be unable to afford and pay for such services. The hospital would be getting good revenue from the Nuclear medicine sector, as these diagnostic tests are very useful in establishing and ruling out several disorders. Physicians are considering these tests as advanced options for managing several cardiac, CNS and metabolic disorders.
Strategic Plan to meet with the demands of the socio-economically backward groups
In the US, the underinsured, uninsured and the economically backward patients are having a problem with meeting the hospital payments. About 20 % of the American population does not seem to have proper insurance, and during a medical problem they are unable to meet with the costs that are incurred (Baptist Operation Manual, 2006). Further 15 % of the population has issues with paying their medical bills. This has lead to several problems including not receiving timely medical care and delaying medical treatment. Studies have demonstrated that within a short period of time this problem is expected to worsen, as there would be a rise in the uninsured population. During the period from 2000 to 2001, these were a sharp increase in the uninsured sector (Medscape Today, 2002). About 70 % of the Americans are able to achieve an insurance coverage through their employers. Most of these employees avail managed care services, and those that belong to lower backgrounds are usually not covered by insurance. Children and elders who belong to the lower-socioeconomic groups would receive insurance coverage, especially Medicaid and Medicare respectively. However, those middle-aged individuals who are unable to meet with the expenditure may have to be identified and covered by the hospital itself. Firstly, the patient should not qualify for any of the insurance programs offered by the Federal or the state Government. The patient would have to present relevant documentation and has to submit in a filled-up application. The patient should be immediately notified in case they are unable to meet with any criteria of the scheme. If a patient is unable to provide necessary documentation, they can apply for credit report in which the Hospital would be conducting an enquiry into the financial status of the patient. Some patients who have already been assessed by the hospital within the last 30 days need not be assessed again. Usually, the income obtained from all sources and the poverty status of the patient is obtained. Several records are utilized to obtain their financial situation including their income slips, bank statements, state documents, income tax receipts, etc. Accordingly, this is calculated, and if the patient is found to earn below the threshold level, financial assistance would be provided. If it were found that the individual’s income/property is much greater than the threshold, insurance would not be provided. The hospital would also be studying the possibility if the uninsured patients could partially be paying for the healthcare services. Some patients may not be eligible to receive compensation for medical care, but may qualify to receive partial discounts from the hospital, depending on their financial status. According to their financial status, and income, their poverty levels could be determined, from which the amount of discount that would be applicable to them could be determined (Baptist Operation Manual, 2006).
Baptist is one of the leading hospitals that are willing to provide uncompensated care for the patients. It treats its patients with great dignity, compassion and respect, and is also gearing up to serve the needs of such patients in the future. As there is a rise in the uninsured and the underinsured populations, the hospital would have to increase the uncompensated care services. Patients should be able to document their financial position in order to seek such services. This would help the hospital to identify and help them effectively (Baptist Memorial Health Care, 2007).
Baptist Memorial Hospital-Memphis (2007), About Medicare, Insurance and Charity Care, Retrieved on July 29, 2007, from Baptist Hospital Web site: http://www.baptistonline.org/forpatients/insurance.asp
Baptist Hospital Manual (2006), Baptist operations Manual, Retrieved on July 29, 2007, from Baptist Hospital Web site: http://www.baptistonline.org/forpatients/charitycare.pdf
Baptist Memorial Hospital-Memphis (2007), Home, Retrieved on July 29, 2007, from Baptist Hospital Web site: http://www.baptistonline.org/facilities/memphis/
Baptist Memorial Hospital-Memphis (2007), Outpatient Services, Retrieved on July 29, 2007, from Baptist Hospital Web site: http://www.baptistonline.org/facilities/memphis/services/outpatient/plaza.asp
BLS (2006), Nuclear Medicine Technologists, Retrieved on July 29, 2007, from BLS Web site: http://www.bls.gov/oco/ocos104.htm
Medscape Today (2002), Health Care Coverage and America’s Underinsured, Retrieved on July 29, 2007, from Medscape Today Web site: http://www.medscape.com/viewarticle/444679