Hcs-405 Week 4 Paper

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Submitted By tamiqua60
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Reporting Practices and Ethics Paper

My strategy will consist of three phases. These phases include: capital shortage, funding for equipment acquisition and funding options for capital expansion. While during these three phases I will also observe the necessary financial statements and documents that need to be review so that I can make better decisions on all three phases. From this information that I have I will then analyze and review the information and make a sound decide that will they best strategy for improvements? I will not only focus on the goals for the clinic, but long term budget goals as well some short term goals if needed.

Phase I: Capital Shortage

There were two options that I chose to make cut costs to. The two options that I chose were to reduce the agency staff and changing the skill mix. I chose to reduce agency staff because “Reducing proportion of contract labor used to fill vacancies would save use money and among patient care workers would reduce costs, staffing nursing units and other patient care areas where take cuts as well. To me the salaries of agency contracted that are brought on are people that are getting paid twice as much as the other hospital staff. Also by reducing these personnel issues will then tremendously cut down the costs made toward the hospital.

Bridging a working capital shortage is one of the strategies that can help increase the hospital’s revenue in many ways if there is a true concrete plan can be formulated and put in to place and make sure that the formula is put in to action right. (University of Phoenix, 2011). I also chose to change the skill mix because “Changing the skill mix by hiring unlicensed assistive personnel to me will offer a more effective means of addressing the serious economic realities. This option to me will allow nurses to delegate simple tasks…...

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