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WEEK 5 ASSIGNMENT-HEALTHCARE FINANCE
1
W5a
Introduction
Healthcare facilities are driven to implement creative community engagement tactics in response
to the ever-changing healthcare industry and their desire to increase their market share. Offering
free services designed to meet the health requirements of the community is a strong strategy in
this endeavor. This assignment examines how this program is being run strategically to
determine how free blood pressure screening might affect new admissions or outpatient services.
Understanding the need for preventive treatment, especially for illnesses like hypertension, this
project is intended to be both a community service project and a means of fostering meaningful
contacts in the healthcare setting. Target Population: Determining the target population is essential before the estimating process
can begin. Suppose we have 100,000 people living in a medium-sized urban community. The
healthcare facility and the catchment area will be 10 miles apart.
Participation Rate: To estimate the participation rate, several elements must be considered,
including perceived value, awareness, accessibility, and the population's health requirements.
Studies show that participation rates for preventive treatments such as blood pressure screening
can differ. A realistic participation percentage would be 20%, given these considerations.
Conversion Rate: The conversion rate is the percentage of individuals needing follow-up care
or medical attention that results in admissions or outpatient treatments. This may rely on the
community's prevalence of hypertension when it comes to blood pressure screening. Research
suggests a conversion rate of 5%, which means that 5% of people would require additional
medical attention.
Average Utilization: It is critical to comprehend the frequency with which individuals might
need extra medical care. Those found to have excessive blood pressure during a blood pressure
screening may require continuous monitoring. This covers routine examinations and follow-up
care, assuming that each individual uses the services twice a year on average.
Calculation: Let's compute the possible effect on incoming admissions or outpatient services.
Target Population: 100,000
Participation Rate: 20% (0.2)
Conversion Rate: 5% (0.05)
Average Utilization: 2 visits per year
Estimated Impact = Target Population * Participation Rate * Conversion Rate * Average
Utilization
Estimated Impact = 100,000 * 0.2 * 0.05 * 2 = 200
The medical facility can create 200 additional admissions or outpatient services by offering free
blood pressure screenings to the local population.
W5c
2
Difference between For-Profit and Not-for-Profit Organizations
The main areas of difference between for-profit and not-for-profit organizations are their goals
and how they divide their profits. While not-for-profit organizations reinvest their earnings back
into the organization to further their mission, for-profit organizations seek to maximize profits
for their owners or shareholders. Both kinds of organizations exist in the healthcare industry, and
each impacts patient experiences and service delivery (
Waymire et al., 2023)
.
Impact of Profit Driver on Quality Services
The pursuit of profit is the fundamental motivation of for-profit businesses, which can impact the
provision of high-quality services and patient experiences. According to research by Cleverley et
al. (2023), for-profit healthcare organizations may prioritize revenue-generating services over
preventive or community-focused treatment due to business motivation. This concentration may
compromise the emphasis on long-term patient outcomes and satisfaction with revenue.
However, because they are mission-driven, not-for-profit organizations frequently prioritize
community health, preventive care, and the general well-being of their patients. Research by
Finkler et al. (2022) suggests that not-for-profit healthcare organizations might be more
dedicated to funding community engagement, safety efforts, and high-quality patient care.
Continuous Quality Improvement
The structure of an organization can have a significant impact on how it approaches continuous
quality improvement. Non-profit organizations would be more appropriate for CQI in the
medical field. According to research by Siraj et al. (2023), not-for-profit healthcare organizations
typically take a more patient-centric and collaborative approach, resulting in a culture that places
a high value on quality improvement activities. Because they aim to serve the community, not-
for-profit organizations are frequently more open to criticism, make staff development
investments, and use evidence-based practices. This emphasis on ongoing improvement aligns
with how the healthcare system changes and how patient-centered treatment and improved health
outcomes are becoming increasingly critical.
Conclusion
In conclusion, free services like blood pressure screenings might be wise for medical facilities
looking to grow their market share. It is possible to compute the projected influence on new
admissions or outpatient services by considering the average utilization, participation rate,
conversion rate, and target population. The business motivation in for-profit organizations may
alter service goals, potentially impacting patient experience and quality when comparing for-
profit and not-for-profit organizations. Not-for-profit organizations are better equipped for
ongoing quality improvement in the healthcare industry because of their mission-driven
emphasis on patient and community well-being.
References
3
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Cleverley, W. O., Cleverley, J. O., & Parks, A. V. (2023). Essentials of health care finance
.
Jones & Bartlett Learning. Essentials of Health Care Finance - William O. Cleverley,
James O. Cleverley, Ashley V. Parks - Google Books
Finkler, S. A., Calabrese, T. D., & Smith, D. L. (2022). Financial management for public,
health, and not-for-profit organizations
. CQ Press. Financial Management for Public,
Health, and Not-for-Profit Organizations - Steven A. Finkler, Thad D. Calabrese, Daniel
L. Smith - Google Books
Siraj, S., Momand, B., Brunton, G., & Dubrowski, A. (2023). Identification of a partnership
model between a university, for-profit, and not-for-profit organization to address health
professions education and health inequality gaps through simulation-based education: A
scoping
review
protocol.
Plos
one
,
18
(7),
e0288374.
https://doi.org/10.1371/journal.pone.0288374
Waymire, T. R., & Mechanick, J. D. (2023). 22. Not-for-profit financial statements: data sources
by state. Research Handbook on Non-profit Accounting
, 422. Research Handbook on
Non-profit Accounting - Google Books
4
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