Cost Control Policy

Assignment Content

1. All health care organizations must be aware of cost controls, regardless of their nonprofit or for-profit status. Managing costs at all levels of the organization affects the bottom line, which has a direct effect on all aspects of the organization. This assignment is designed to help you analyze why organizational policies are put in place.
   Find a policy at a health care organization related to cost controls.
   Summarize the details of the policy:
   • When was the policy put in place?
   • Was it adopted system-wide, in one department, or in multiple departments?
   • What does the policy address?
   • What are potential ramifications of not following the policy at the organizational level? Unit level? Individual level?
   • Explain how the policy impacts fiscal aspects of the organization:
   • How does the policy act as a cost control?
   • Describe how the policy impacts the quality of patient care:
   • Does the policy improve efficiency?
   • Are the goals to improve care and reduce cost?
   • Explore the unintended consequences:
   • What secondary affects does the policy have on the organization? Unit? Staff? Patient?
   • Does the policy need revision?
   • Suggest alternatives to the policy:
   • In your opinion, is the policy the best way to address the issue? Support your position by explaining why or why not.
   • Cite at least three peer-reviewed sources published within the last five years in an APA-formatted reference page.
     Format your assignment as one of the following:
   • 18- to 20-slide presentation
   • 3- to 4-minute podcast
   • 15- to 20-minute oral presentation
   • 875-word paper
   • Another format approved by your instructor
   • Note: Students who do not work at a facility can research a policy related to cost controls by locating a facility and conducting an interview “virtually” (e.g., Skype or by phone).
     Submit your assignmentWeek 3 Assignment ExplanationHealth care organization could be a hospital system like Banner Health, or a skilled nursing facility located in your town, or a surgical outpatient clinic. You choose one facility and pick one policy and write a cohesive paper/power point about it. The policy chosen MUST accompany your paper.Cost Control Policy:Very simple example: paper towels vs. heated hand dryers. Both accomplish the same thing. Picking one vs the other could be a cost control policy.Cost control or cost management in Accounting is a series of methods and management techniques used by a business with the objective of improving its cost efficiency by reducing or maintaining costs without sacrificing the quality of their outputs. Examples: Hospital readmissionsInitiation of electronic medical recordsChoice of different types of disposable versus re-useable equipment, supplies, OR instruments etc.Policies to prevent inappropriate, duplicate and antiquated processes. Fingerstick vs blood draws for blood glucose checks or coumadin management.Fall prevention policies – determining which policies/protocols work best.Different types of lift systems to prevent patient injuries or employee worker comp. injuries, etc.Utilization management policiesSupply utilization and inventory stocking and tracking.Cost control policies affect all parts of the hospital. Housekeeping-cleaning supplies, in-house laundry vs sending out for laundry.Employee shifts, break/meal times, report times can all be affected by cost control policies.Staff education and cross-training have cost control ramifications.Patient education about anything.HIPPA and security protection.