Description
In today's world of healthcare, capital expenses are a common element to the financial management process. In fact, all healthcare organizations, at some point, must convert to an Electronic Health Record (EHR) system to be compatible with the rest of the world. However, this is a major capital expense that will cost many healthcare organizations millions of dollars. Purchasing an EHR system will undoubtedly require the acquisition and use of long-term assets under a capital budget.
The final assignment of your project will require you to make a recommendation to finance an EHR system, based on information from previous assignments. You will compile all the information in a proposal format, which will be addressed to the organization's executive managers. You will create a separate presentation as an overview of your proposal.
Your organization is considering financing a 1.5 million dollar EHR system (if an EHR system not a good fit for your case, you can choose any major health information system/technology but the 1.5 million dollar reference should remain the same). Based on the financial outlook of your case/organization, make a recommendation to purchase or not purchase the system. You will need to draw on the material you have learned in throughout the class and assignments; as well as background information from your case description. Collectively, that information will serve as the foundation to support your recommendation.
Your final Financial Analysis report should be a minimum of eight (8) pages in length, excluding title and reference pages.
Introduction of case and financial challenges and issues; perspective of financial challenge (Introduction)
Report on assets and liabilities, cash flows and financial position, etc (Financial Statements).
Examination of financial analysis methods (Financial Analysis Methods).
Interpretation of financial management and capital management; influences for capital investments and decision-making (Capital Management).
Assessment of EHR implementation (or relevant information system) and recommendation; using supportive information from financial management assignments (Proposal)
Summarizes and presents a collection of financial management concepts, strategies and methods; applicable to case financial position, needs and challenges.
Make sure to use block letter formatting and proposal formatting guidelines. You will need to include a title page. Remember, your audience is the organization's executive managers. Make sure to use proper audience tone.
Include an APA formatted reference page to include at least five (5) academic sources, such as a book or an academic scholarly journal, to support your topic. You should reference your academic sources by including at least five (5) in-text citations. Academic scholarly journals can be access through the Rasmussen Online Library.
Your Presentation should be created in MS PowerPoint to include a minimum of seven (7) slides. You will also add a narration to your presentation that should be 15-20 minutes in length. Be sure to discuss your project components in a concise, yet effective manner. You should highlight key points of each component of the Financial Analysis Report, leading up to your EHR recommendation outcome. Include graphical displays (such as graphs or other pictorials) to add visual interest and support of your information. Use a professional tone and keep in mind that you are presenting to the executive management team; consider their interests as stakeholders.
Presentation Outline
Introduction
Summary of financial statements
Summary of financial analysis methods
Findings of capital management influences
EHR recommendation outcome
Summary/Conclusion
APA formatted reference slide
Submit your completed Proposal and Presentation to the drop box below. Please check the Course Calendar for specific due dates.
Explanation & Answer
Hello buddy, here you go. Please review me for the work well done. Also remember to invite me for future projects, i am here for you. Thank you.
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Running head: PROPOSAL FOR USE OF ELECTRONIC HEALTH RECORDS
Proposal for the Use of Electronic Health Records
Name
Tutor
Institution
Date
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PROPOSAL FOR USE OF ELECTRONIC HEALTH RECORDS
Introduction
The perspective of Financial Challenges
Ladies and gentlemen, all protocol observed. This is a proposal for the use of electronic
health records, EHR. To begin with, this is the discussion of the case and financial challenges
and issues of implementing Electronic Health Records, EHR. Hospitals and health centers
facilities across the country are in the mission of implementing and adopting HER systems, but
they face several challenges. These challenges mostly are affecting the no developed areas such
as rural areas. Although the adoption of these EHR systems is at the peak, the good number of
health facilities are on slow about it. With the study (Frank, 2015), there are numerous areas to
be noted where these healthcare and hospitals are stressed. These areas include EHRs resistance
among physician, physician notes implementation, complex work through meaningful criteria,
and cost control for EHR use (Meghan Hufstader Gabriel & Michael F. Furukawa, 2013).
However, the study (Frank, 2015) shows that it is only a few urban hospitals that have
adopted the EHR. Those that have adopted full EHR systems are reported to have succeeded in
the following function such as doctors assessment, physician notes, patients demographics, list of
the patient problem, list of patient medication, medical summaries, clinical, laboratory and
radiology reports, patients demographics and medical order entries and diagnostics analysis
result. Financially, more hospitals and health centers are reported to have ongoing costs and
upfront of using EHR. Hospitals with no particular notes are likely to face financial penalties.
The absence of use of EHR is the reduction in hospitals reimbursement by a bigger percentage.
The potential EHR systems adopters need some original information about the cost and
other resources needed during implementation of and maintenance of the systems. These
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PROPOSAL FOR USE OF ELECTRONIC HEALTH RECORDS
financial costs, which were seen as financial challenges, are hardware and software license,
cloud hosting, and technical maintenance costs. In addition, there are other non-financial costs
which are incurred project finance and hence are termed to be a challenge (Weathers & Esper,
2013). These costs may comprise of groups of personnel.
The first group belongs to senior personnel who are in implementers. This group consists
of managers for workflow and training, the senior disease managers, the information technology
group, project consultant and manager, and system analyzers. Meanwhile, these groups of
personnel were to be sustained financially and hence find it a challenge for EHR implementation.
The second group belongs to individuals who played a part in implementation crew.
What the group did all pertains implementation including planning, re-engineering flow of work,
and training. The training composed of the physician who spearheaded the implementation stage
which includes system practice, clinic staff, and office managerial team. All this personnel in this
group requires a large amount of finance, and hence it’s a challenge for EHR implementation in
hospitals (Weathers & Esper, 2013).
Third and most important group belong to end users. The end users include clinical and
non-clinical staff and physicians. The financial challenges come in the way that these staffs need
to be trained on how to use electronic health record system. In addition, these individual
workforces need to prepare well to handle the system’s error, such as patient information need to
be loaded. Training and system maintenance came out to be a challenge and therefore a big
hindrance for the use of electronic health record systems (Weathers & Esper, 2013).
Throughout our research, we prepared this proposal to understand and predict the cost of
adopting, application and maintenance of ...
