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Report on Health Care Centres Laws and Policies

   

Added on  2020-06-05

14 Pages4013 Words35 Views
Managing Financial Resources inHealth and Social Care

Executive summaryIn this report is focus on evaluation done regarding residential homes manage their costsand economic crises without compromising the health and care plan of patients. This report isbased on health care centres there are some different laws and policies have been implied tomaintain finances that are to be followed by all employees and top medical professional atworkplace.

Table of ContentsExecutive summary..........................................................................................................................2INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Principles of costing and business control systems that may be adopted in CareSouthGroup care home....................................................................................................................11.2 Information needed to manage financial resources..........................................................11.3 Regulatory requirements that are needed to be satisfied while managing financialresources.................................................................................................................................21.4 Systems for managing financial resources.......................................................................3TASK 2............................................................................................................................................32.1 Diverse sources of income available to CareSouth Group...............................................32.2 Factors affecting availability of finance for the business firm.........................................42.3 Different type of budget expenditure in health and social care organisations.................42.4 Way in which decision about expenditure are made by the business firms.....................5TASK 3............................................................................................................................................53.1 Managing the situation of financial shortfall....................................................................53.2 For condition in occurrence of financial fraud in organisation........................................63.3 Budget monitoring arrangements in CareSouth Group care home..................................6TASK 4............................................................................................................................................74.1 Information required to make financial decisions relating to CareSouth Group care home.74.2 Relationship between care service delivered and ‘costs and expenditure........................74.3 Impact of financial consideration on a service user.........................................................84.4 Ways to improve the care service provided by CareSouth Group care home throughchanges to its financial systems and processes.......................................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONThe present assignment is about managing financial resources in health care sectors. Inthis chapter, case study of CareSouth Group care home is given to understand the ways to handleissues regarding finances. Also, there will be an evaluation done regarding residential homesmanage their costs and economic crises without compromising the health and care plan ofpatients (Kakuma and et.al., 2011). In addition, it has been elucidated that various controlsystems are available to maintain such issues and retain service users by providing them the bestcare and support by hospital team and other senior medical professionals.TASK 11.1 Principles of costing and business control systems that may be adopted in CareSouthGroup care homeCareSouth Group (CSG) care home is a residential home which provides proper healthand support to its users. It provides services to all the people regardless of their age and race.They do so for patients who seek some temporary help in everyday life (Smithand et.al., 2012).Further, old patients can also find care homes for getting proper care. By being a manager in care home, it is important to manage finances in hospital so that itcan be prevented by any economic hazards in the future. At CSG, there are some principles thatare followed to control costs. These are given as follows:Developing clear and consistent objectives:In provides care home, targets and aimsdeveloped in prior which are realistic, measurable and those targets that are achievable.This is made possible by involvement of stakeholders (Millar and Hall, 2013).Analysis of true costs:The nursing home should keep in mind the costs that are spentand then plan about budgets and overall costing.Trying to reduce complexity regarding hierarchy and also designation.I have learned that improve working environment and achieve aims or objectivein organisation. This is help to learned manage finances in hospital so that it can beprevented by any economic hazards in the future.1

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