Analyzing Financial Systems and Processes in Healthcare Services

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Understand how systems and
processes for managing financial
resources influence health and
social care services

Table of Contents
• Introduction … Slide 3
• 4.1 Identify information required to make financial decisions
relating to a health and social care services ... Slide 4
• 4.2 Analyse the relationship between a health and social care
service delivered, costs and expenditure ... Slide 5
• 4.3 Evaluate how financial considerations impact upon an individual
using the health and social care service ... Slide 6
• 4.4 Suggest ways to improve the health and social care service
through changes to financial systems and processes ... Slide 7
• Conclusion … Slide 8
• Reference List … Slide 9

Introduction
• Health and social care is such an area that provides services
of health to the people of the country.
• This presentation has been prepared on health and social
care segment and the management of the health care
enterprises’ financial resources.
• It includes the evaluation of the significance of healthcare
enterprises to manage financial resources along with
discussing how care services are influenced through financial
systems and processes.

4.1 Identify information required to make
financial decisions relating to CareTech Plc.
• Decisions for management of risks are associated with the
decisions via which enterprises are enabled to tackle the
diverse risks that they have. CareTech Plc, for making such
decisions, information can be derived from tools that include
scenario and sensitivity analysis, changes in the government
policies and others.
• Capital investment decisions involve decisions made within
enterprises that are associated with business expansion via
new ventures and projects (Arrow, 2017). However, these
decisions require information obtained from the application
of varying techniques for investment appraisal. CareTech Plc,
for instance, depends upon information from payback period
to make capital investment decisions.

4.2 Analyse the relationship between care
service delivered and ‘costs and expenditure’.
• Consequently, for ascertaining that quality services are
delivered, authorities and the government have to ensure
that high quality services are delivered.
• In the UK, Care Quality Commission is responsible for
evaluating service quality extended from healthcare
enterprises in the country (Richardson et al., 2019).
• Another effectual mode via which quality of services
delivered is managed and monitored is the continuous cycle
of improvement (Johnson and Sollecito, 2018). It deals with
consistently monitoring the care services extended along
with ensuring that they are continually enhanced.

4.3 Evaluate how financial considerations
impact upon a service user.
• As stated by Iacobucci (2018), a fundamental way
through which individuals’ access for healthcare services
are controlled and restricted is tightening eligibility.
• This factor has led to affecting people via lowering the
state’s support for them to use healthcare services.
• Individuals within home care services have been
significantly affected, as the requirements they have are
less severe.
• Various other individuals are also not able to avail state
support, for which they need depending on privately
owned that is owned privately.

4.4 Suggest ways to improve the care service
provided by CareTech Plc. through changes to
its financial systems and processes.
• NHS charge for overseas visitors is the government’s
initiative wherein no spending is made by government
over overseas visitors in it and the money stays intact
(Hiam and McKee, 2017).
• Benefits cap refers to the tool using which yearly or weekly
caps are set on individuals to avail benefits of healthcare
(Volkov et al., 2019).
• Payment by results would take CareTech Plc for
accomplishing payments with dependence on
considerations that CCG, CQC, monitor and health
inspector makes through verification from individuals
(Clist, 2016).

Conclusion
• Hence, it can be derived from the findings of this
report that financial resources and their
management is of utmost importance to all health
and social care entities in the current scenario not
only for having a sound financial situation but also
in order to ensure that proper and quality
services are being provided to its patients.
• It also helped in understanding the differing ways
in which healthcare enterprises are affected by
financial processes and systems.

Reference List
• Adrian, T. and Liang, N., 2016. Monetary policy, financial conditions, and financial
stability.
• Arrow, K.J., 2017. Optimal capital policy with irreversible investment. In Value,
capital and growth (pp. 1-20). Routledge.
• Clist, P., 2016. Payment by results in development aid: all that glitters is not
gold. The World Bank Research Observer, 31(2), pp.290-319.
• Hiam, L. and McKee, M., 2017. Upfront charging of overseas visitors using the NHS.
• Iacobucci, G., 2018. Union vows to support NHS staff who refuse to act as" border
guards". BMJ: British Medical Journal (Online), 360.
• Johnson, J.K. and Sollecito, W.A., 2018. McLaughlin & Kaluzny's Continuous Quality
Improvement in Health Care. Jones & Bartlett Learning.
• Richardson, E., Walshe, K., Boyd, A., Roberts, J., Wenzel, L., Robertson, R. and
Smithson, R., 2019. User involvement in regulation: A qualitative study of service
user involvement in Care Quality Commission inspections of health and social care
providers in England. Health Expectations, 22(2), pp.245-253.
• Volkov, A., Balezentis, T. and Streimikiene, D., 2019. Who Benefits from CAP? The
Way the Direct Payments System Impacts Socioeconomic Sustainability of Small
Farms. Sustainability, 11(7), p.2112.

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YOU