Finance In Human Resources Management

How to Managing Finance in Organization ?

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Introduction to Finance In Human Resources Management

In the organization of health and social care its top practitioners are highly involves in managing finance in this organization so as to have proper use of its resources .Proper management of finance helps in business expansion in the same market or the other market also (Luthans and  Youssef, 2004). The service providers of this health and social care are highly concerned to keep best relationship with its finance providers. So that it can get the finance at the required time and in the lower interest rate.  It also understands that  in private sector hospital the service providers get the fund from its patients whereas in the public sector hospitals  this services providers get the funds from the government. Further it understands the barriers for service improvement in both private and public sector hospitals such as technological understanding, confusion between workers, staff with its management. It also includes biased nature of the hospitals towards the foreign companies. Moreover it analysis and explains the financial environment in which   the service development is take place and it also presents arguments for  the case of investment.

A)In the health and social care  organization generally  there are private and public sector hospitals that mainly provides services to its patients in their own different ways. In private hospitals its workforce are more active as compare to the public sector. This is because that in private service providers are well trained and highly skilled but in the public sector this service providers are not highly skilled (Swayne, Duncan and  Ginter,2012). The top practitioners  are involves in making continuous improvement in the practices of its doctors and nurses  by imparting them, proper training on their particular tasks. But this is not happened in the case of public sector hospitals. Top doctors in the private sector are always  keep proper communication in their team so as to have proper understanding of task in their workforce. By keeping this  effective communication it helps in avoiding misunderstanding among subordinates and its superiors.  As we see the sources of funding in these sectors than it has been found that in private sector hospitals the fund is received f4rom their patients itself. As this organization are charging huge amount with their patients  because of its quality services it provides to its patients.  But in the public sector hospitals  the funds is received from  the state government and this amount is not sufficient so as to make proper developments in their services. As in the private sectors it is highly innovated and   its staff and nurses are using technologically advanced equipment. But this is possible in public sector hospitals that they are unable to innovate its services as compare to private sector.  In the private sector hospitals one of the most important sources of  fund it gets from the insurance company where it makes its patient to get medical insurance  so that in case of any problem or any mishapping  it can be reimbursed to the patients and the hospital as well.  As this private hospitals are connect to the insurance company as they are the big source of finance for the  private .hospitals (Saltman, Rico and  Boerma, 2005). In in case of public sector hospitals  its doctors get fund from the territory sector which is again not sufficient to make developments in its services as the all equipment and machinery are very expensive.

As  in the private sector hospitals its  top doctors are highly concerned for improving the efficiency of its workers and other staffs so as to give better quality services to its patients. But this is not possible in the case of public sector hospitals. In the private hospitals the roles and responsibilities are delegated properly so as to make proper understanding of work. But in the public hospitals there is no such delegation of work is available so their is lot of misunderstanding arises between the workers  and their superiors. In the private hospitals doctors are fully satisfied as they get proper reward and incentives so that they  render quality  services to its patients. Public hospitals need to work a lot on modifying its physical work environment.  It has lots of workplace complaints rather  than private hospitals (Nolte and McKee, 2008). There is a huge performance gap between private and public hospitals because of knowledge and skills they posses for satisfying its patients. In the private hospitals its top practitioner always motivates its employees and keep good working structure and culture so as to make comfortable  to its service providers.  But in public hospitals  its services providers are not motivated  because it has no proper structure being followed by its workforce  and it has no proper working culture that creates a lot of misunderstanding.

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B)In health and social care organization its private and public hospitals are very concerned to improve its services as per the desires and requirements of the patients. The most important services that is being provided by the hospital staffs and top doctors to its patients can be seen as under:

Emergency care -  In this kind of emergency care generally the  staffs of this hospitals provides emergency care to its patients in the serious condition (Francesca, Ana, Jérôme and Frits,2011).  Emergency  room staffs are prepared to provide triage and stabilize patients until they can be moved to  a room  or treated and released.

Maternity – In this services top practitioners provides maternity care and the rooms are available that are all inclusive where mothers can give birth , nurse their babies and spend a day to get recovered from the delivery.  Sometimes it uses operating rooms for deliveries and nurseries for the newborns.

Nursing – Hospitals are largest employers of nurses, who staff all sections in hospitals (Enthoven, 2014). Nurses carry out  the orders provided by the doctors and see to the daily needs of patients who are staying in rooms at the hospital. Nurses assist physicians in surgery and staff various services in hospitals 24 hours a day.

Surgery - In this the staffs of the hospitals are involves in doing hard surgeries like transplants, heart surgery and repairing broken bones. It also involves anesthesiology services, nursing care, pre and post- operative rooms and lab and X-ray technicians.

Pharmacy - In this king of services generally the doctors of this health and social care are involves in providing proper prescriptions to its patients and and facilitates proper medication.

Specialties -  In this specialties services  of this health and social  care organization it involves services like  cardiology ward, cancer centers, pediatric services and rehabilitation units (Curtis 2012). The nurses and the other staffs that works in this specialties are being provided proper training so as top make them more efficient in terms of providing better services  to its patients.

Elderly services department - In this kind of services it generally provides a range of services such as home visits, day hospitals and outpatients clinics. It is also liked with the other community services so as to provide quality services for the elderly.

The above mention are the one of the major and important services that is being provided by the service providers of this  health and social care  organization (Christensen, Grossman and Hwang, 2009). There are some barriers  for private and public sector hospitals while providing quality services to its patients such as technological advancement, confusion of set objectives and the functions, biased nature of the hospitals towards the  foreign companies.

B) SUMMATIVE ASSIGNMENT

Question A :Explanation of financial environment  where service development takes place and explanation to presents arguments for the case of investment

In the organization of  St. Justin's Hospital foundation trust, it top practitioners are involves in providing better quality services to its patients (World Health Organization., 2008). This services providers generally creates best financial environment so as to expand its business in the current market as well as in the other market. It keeps  strong relationship with its finance providers so that to get the finance at the time of requirement. The service providers in this health and social care organization takes loan from the financial institutions such as commercial banks  this are one of the most important sources of funds for health and social care  in aggregate. This banks get deposits from the people's, companies and government  in turn it facilitates loans and investment. Along with  performing banking functions, this commercial banks also make investment in corporate bonds and stocks. In saving and loans it takes deposits from the households and  lend funds  for consumer loan and home (Perlin, Kolodner and  Roswell,2004). In credit unions, depositors have owned this this are not businesses this are individuals  it takes  in funds and make it as personal loans.

Some times it make use of finance and insurance companies  such as life insurers that is insure against financial hardship due to death of individual. In property and causality  is insure against  damages to person and property. This financial decisions are being taken by the top practitioners  of this organization so as to make proper management of the resources. It creates  best financial environment  in which it  keep all the highly innovated equipment's  and machinery needed for facilitating better services to its patients. It helps the top doctors to0 take effective decision for its healthy and social care. With this proper management of he finance it helps the management team of this   St. Justin's Hospital foundation trust, to provide proper training and equipment facilities to its workers, staffs and nurses. In this organization the top doctors are involves in providing quality services to its services users.  It provides services like admitted care in which it provides care to the  injured patients and manage labour (Kutzin, 2001). It helps in reducing hardship of illness or injury and provide diagnostic facilities.

  • It need to deliver proper services to its patients on time and avoid unnecessary wait for getting the reports from the laboratory.
  • It need to keep and manage its proper communication in the all departments so as to mange its all work in a proper manner.
  • Top services providers in this healthy and social care need to manage its human resource as well so as to impart proper facilities and treatments to its all patients and all services users.
  • One and the most important this is that to tackle all the complex situations with calmness
  • The top service providers has fail to do is that it didn't monitored the performance of its staffs after deciding its mission and vision (Dyck and et.al., 2005).
  • The practical implications of this implication need to be carefully considered as the all success of this healthy and social acre services is all depends upon the quality services that it provides to its service users.
  • Service providers of this St. Justin's Hospital foundation trust, fails to fully acknowledge the importance of proper monitoring and bringing high technology advancement in the organization so as to facilitates with quality and better services.
  • This could be challenged on the basis of its high quality services that includes high innovations and advancement.

The top service providers pf this organization should get involves in making continuous improvements in its services. It helps in identifying the needs and desires of the patients. Its is very important to know the requirements of the patients before treating them (Singer and et.al.,  2011). So from the above stated statements it can be said that in the organization of health and social care it is very important to create good and strong working environment as well as financial environment so as to keep good flow of work in the organization.

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With a view to the above service development aspect, a critical has been done taking into consideration current scenario of St. Justin's Hospital foundation trust .The top service providers that are working in this organization are providing proper quality services to its service users and are continuously involves in making improvements in its services. There are several approaches being used by the doctors of this health and social care organization fore improving its services these are mention as below:
Provide digital map – In this organization St. Justin's Hospital foundation trust, its employees should provide proper map and direction to the patients. It helps it patients ans well as the other newly joined staff to find the hospital with out any trouble. It creates lot of stress to the service users as well as the top practitioners (Kodner and Spreeuwenberg, 2002). If the direction is available and map is already given than it becomes slightly easy for the patients and staffs to find the way of it.
Managing patient check out – In this process of checking out from the hospital by the patient is somehow very time consuming and frustrating sometimes. Because it involves lots of formalities and procedures. So all this procedures should by perform earlier before the time so that the patients do not get frustrate from this unnecessary delay.
Proper room facilities for the families - Here in this organization the family who may be traveling from long distance requires a proper place to spend time with the loved one who have died (Dussault and Dubois,2003). The demand for the patient room is already high and the shared room is not an appropriate place for this. So this should be taken care off by the doctors of this health and social care organization.

Speeding the referral appointments – In this step the patients being refereed by some other doctor or organization should be prioritized first or should treat first. It keeps the high morale of the patients (Nolte and McKee,2008). Further it helps in maintaining the relationships of doctors from different organizations. As this cases are urgent cases that are being refereed by some other doctors for higher treatment so this should be given top priority to make their patient satisfied.

Online patient organizer -  In this step generally the top practitioners  of this organization are involves in using best sources of online services for fixing the appointments with doctors. This are the prior booking. Now a days people are like to book their appointments by using online services so as to save their time and to get the proper treatment in time (Glendinning, 2003). It not only beneficial for the patients but also it is very beneficial to the organization as it maintains the decorum of the healthy and social acre organization.

Patient education videos -  This is one of the best methods for improving the services of this health and social care organizations  because in this it makes the videos of the critical case or any critical surgery  in which it takes the video of whole operation so  that to make patient satisfies. It also work as an example of tackling critical case successfully by the doctors of this organization (Glendinning, 2003). Sometimes in some cases patients raise some questions regarding its  major surgery so it becomes very easy for the doctors to make the patients satisfy by showing this videos.

Provide helps to the patients to stay connected with their family members – Top practitioners in this organization  should provide best facilities to its patients so that to get connected with its peers and family members as it creates homely atmosphere for the patients and its recovery become very easy (Hollingsworth, 2003).  It should provide the availability of Skype 24/7 so as to help its patients keep in touch with family and friends.  

Provide best environment  to the patients - In this step it is very important to provide best environment to the service users so that to make their recovery fast and to make them comfortable while stay in their  St. Justin's Hospital foundation trust. Organizational environment is must to keep best in terms of services and in all aspects so as to satisfies its patients (Mathauer and Imhoff,2006). Apart from the proper medicines the patients need appropriate environment where it can exist for long. It helps the patients to get satisfies with the services of the practitioners in this organization.

To help non- English speakers – In this organization of health and social care  it is very important for the service providers to manage the people from the different cultures and to  understand their problems (Haugh,2005).  In this organization  of health and social care it is must to understand the problem of its patients as then to provide proper treatments to them as per their requirements.

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Tackle  complex problem with calmness -  In this health and social care organization it need to improve the working methodologies of its workers and the other staffs so as to make them more efficient and to improve the overall effectiveness of the services it provides to its patients.

keep proper communication -  It is one of the most important  to have proper communication of service providers with its all service users (Berwick, Nolan  and Whittington,  2008).  By keeping proper communication  it helps its staffs to render proper and quality services to its patients and to make them satisfies.

CONCLUSION

From the above report on the managing finance in the health and social acre organization it has been understood that for managing the proper work and for rendering quality services to the patients by the practitioner it has bought technological advancements in its working methodology. It also floated proper and relevant information in all the departments so as to keep the smooth flow of work in this St. Justin's Hospital foundation trust. It has developed good and strong relationships with its fund providers so to get the fund at the time of requirement. After setting the objectives it has monitored properly the performance of its staffs and the other practitioners so as to measure their performance. Further it has analyzed the various sources of fund in private and public sector hospital. Moreover it identified the key barriers that affects the practices of doctors in this health and social care organization. 

REFERENCES

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