Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

GCU NUR 621 I will strengthen accounting systems. Costs associated with patient care can be better understood through implementing or improving cost accounting systems. This

GCU NUR 621 I will strengthen accounting systems. Costs associated with patient care can be better understood through implementing or improving cost accounting systems. This information can aid in identifying areas for cost reduction, increase pricing transparency, and facilitate resource allocation decisions. To implement this change, I will collaborate with my organization's finance and accounting department to evaluate the current cost accounting system and identify any gaps or development opportunities. I will consider utilizing technological solutions or software to expedite data collection and analysis and provide accurate and timely cost data (Dryer & Maddox, 2023). I will establish performance metrics and analytics. It is crucial to establish performance metrics and analytics to assess and monitor the efficacy of my organization's value-based care initiatives. Using key performance indicators allows for monitoring quality outcomes, patient satisfaction, and cost savings. I will begin by instituting performance metrics with relevant stakeholders, including department heads, quality improvement teams, and data analysts (Eriksson, 2023). I will work to align incentives and agreements. In a healthcare system based on value, it is essential to align incentives and contracts to enhance quality and contain costs. Transitioning from fee-for-service models to value-based payment models, such as accountable care organizations

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Health Care Management

Authors: Sharon B. Buchbinder, Nancy H. Shanks

3rd Edition

128408101X, 9781284081015

Students also viewed these General Management questions