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(pdf) Performance Improvement and Management in Health and Social Care

   

Added on  2020-12-29

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PERFORMANCEIMPROVEMENT ANDMANAGEMENT INHEALTH AND SOCIALCARE
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Executive summaryPerformance improvement mainly improve the efficiency of the particular process so thatit will help to provide an accurate result. In the same way it also assist in management of thehealth care services. The current report is based upon Care Tech Holding PLC who providessocial care services and its segments include Adult Services and Children Services. Report willdescribe and evaluate the range of strategic planning models and interpret the financial strategicperformance measures as well. It also provides deep knowledge of investment appraisal modeland evaluate the use of non-financial and multidimensional models of performance managementin the health care services.
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Table of ContentsExecutive summary..........................................................................................................................2INTRODUCTION...........................................................................................................................2Question 1........................................................................................................................................2Appropriate strategic planning models for the care sectors of England.....................................2Question 2........................................................................................................................................6a. Explanation and usefulness of financial ratios for the shareholders.......................................6b. Ratio Interpretation...............................................................................................................10c. Residual Income after and before the investment.................................................................11d. Benefit and economic value added (EVA) concept..............................................................13Question 3......................................................................................................................................14The evaluation of a multidimensional and non-financial model of performance management14CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................171
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INTRODUCTIONPerformance improvement is very necessary in healthcare sectors. It is a continuous andsystematic action which leads to improvement in health. Practices of healthcare tends to ensurethat the people are safe and are not facing any sort of diseases and personal problems. Thepresent report prepares an internal memorandum for the shareholders of Care Tech Holding PLC.The organisation is a provider of social care services and its segments include Adult Services andChildren Services.There were three aspects of the task such that in task 1, the report critically evaluates theadvantages and disadvantages two strategic planning models which are appropriate to the caresector in England. Along with it, the report provides appropriate recommendations. In task 2,report will describe the usefulness of financial ratio analysis to shareholders is discussed alongwith the explanation of residual incomes. Then, study will explore the benefits of EconomicValue Added (EVA) concept while making financial decisions is also explained in the report. Intask 3, report will critical evaluation of the use of non-financial and multidimensional models ofperformance management is also explained in the report briefly, along with the discussion ofimportance of multidimensional and non-financial performance indicators to the Care TechHoldings PLC.Question 1Appropriate strategic planning models for the care sectors of EnglandMemorandumTo: Accounting HeadCC: Mr. AndrewFrom: Jonas PeleDate: May 23rd, 2019Subject: Suitable strategic planning modelRespectively, The strategic planning models are known for playing a major role in the organisation in order togain a long term success. It provides effective direction to the team of accounting and tends todescribe the method which is required to be implemented to make a strategic plan that iseffective (Kanamori, and et.al., 2015). The organisation or the business is seen to be facing2
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