THE FINANCE ASSIGNMENT

The Finance Assignment



The Finance Assignment

Assignment 1

Task 1

Introduction

The health care market to slowly open up all varieties of medicinal schools to set up one after another, actual or capability competitors, modifications in their competent approach, effecting in the fitness care market struggle surroundings of uncertainty. In St.Edith Memorial Hospital case the organisation group in charge was seeing hospital's fiscal and arranging controls which have been under injure systematic the operational period.

SWOT Analysis

Strengths

?         Grant from midpoint government

?         Grant from impeded habitation restricted government and medicinal insurance

?         The infirmary is the large general intent infirmary which aids an unwavering population.

?         Hospital is well famous for worth medicinal care. 

?         During the year the infirmary has endeavoured to captivate more components of personnel mostly nursing staff.

?         Young medicinal healer will farther make tougher the clinical department of the hospital.

 

 Weaknesses are

Poor management.

Old-fashion and out of acquaintance with fresh medicinal practical learning and surgical techniques.

Disagreeable of considerable committee

Long waiting times for seeing the advantageous highly talented surgeon or for being accommodated to the hospital.

A high intern earnings has carried on to suffering nursing services at the institution.

Due to insufficient finance some arranged pursuits principally in the Primary Health Care department have not been undertaken.

The infirmary has been talking about possibilities of embarking on wages engendering activities; even so, the poor existing monetary circumstances makes such endeavours risky.

 

 Opportunities are

?         Stable of population

?         The neighbouring infirmary furnished several agency medicinal services to the hospital.

?         The infirmary carries on to excel in its assorted endeavours because of dedicated personnel and a supportive toiling environment.

?         These elements offer chances for expansion of infirmary services principally in Primary Health Care department.

?         The infirmary with fiscal, material and human supplies obtainable would depart a long way in fortifying community-based interventions.

 

 Treats are

?         The infirmary encountered in less affluent area.

?         The neighbouring infirmary is better repute with more bewitching facilities.

?         Income from the medicinal indemnity is lessened because the enduring makes a determination to leave from to the neighbouring hospital.

?         Financial location of the infirmary has not been well as long as the year.

?         Staffs is dedicated to toiling in an indigenous Christian school, the getting higher charges of sustenance and school payments aggregated with more lucrative bids from external non-profit administration for highly talented personnel, often demands the infirmary to compensate top-ups to save staff.

?         There is a actual want for the infirmary to investigate other signifies of continuing the running of their schools through wages engendering pursuits and other donors principally for community supported activities.

As quantitative dimensions, using cost analysis to get how much cost per patient and staff. (See Table1)

£

St'Edith 2004

St'Edith 2003

NH 2004

NH 2003

Revenue per patient

2,700

2,706

2,231

2,656

Revenue per employee

115,000

121,649

154,545

144,348

Labour per patient

1,291

1,216

748

880

Labour per employee

55,000

54,639

51,818

47,826

Depreciation per patient

469

436

367

400

Depreciation per employee

20,000

19,588

25,454

21,739

Drug per patient

587

505

394

448

Drug per employee

25,000

22,680

27,273

24,348

IT and communication per patient

70

46

13

16

IT and communication per employee

3,000

2,062

909

870

Other variation costs per patient

164

161

157

176

Other variation costs per employee

7,000

7,216

10,909

9,565

Fixed costs per patient

352

344

223

256

Fixed costs per employee

15,000

15,464

15,455

13,913

Total costs per patient

2,934

2,706

1,903

2,176

Total cost per employee

125,000

121,649

131,818

118,260

Surplus/ deficit per patient

(235)

0

328

480

Surplus/ deficit per employee

(10,000)

0

22,727

26,087

Patient per employee

43

45

69

54

Cost Finding ...