hHCS 405 WK Individual Assignment Essay

Reducing agency stave, I choose this cypher cut because it leaves more positions open for the facilities own staff and this bound of attention is a luxuriously represent, twice as high a systematic hospital staff nevertheless each open job is continually monitored to determine if that position needs to be filled. Changing the skill mix, this pickax al modests for unlicensed assistive personnel to address economic realities. This price miscue choice survival allows for nurse to be fit to delegate humble jobs in order focus on more complicated ones (University of Phoenix, 2013).Which contri entirelye option did you select? Why?Loan option 1, this gain very allowed for a hankerer period of repaying the bestow, even if it has 9.45% interest identify, as option 2 does not give you the ability for the three month loan closure and it needs to be repaid in six months time. Being that this is a facility which needs flexibility option 1 provides the best contingent alter native for achieving substantial financial grounds (University of Phoenix, 2013).What was the outcome of your finale?The outcome for my decision was that it was in full(a) health for EFC. The decision to reduce a portion of agency contract staff was good because it decreases outflow of immediate payment through expenses without hurting or decreasing the facilities actual revenue by saving on premiums it pays to staffing agencies and their management fees so it is a huge cost saver. Changing the skill mix made for a good figure saver for Elijah Heart warmness because it helps save the company money in the long haul.There will be an increase in cost in the beginning in regards to the less o hospital training, but overall workers push aside assist with the registered nurses with simple working classs like, feeding and the moving of uncomplainings. licensed nurses pile focus more on the more complicated task such as those directly affecting or related to patient care. As for m y loan option it was the best choice for solving the hospitals capital shortfall because EHC will receive $2,300,000 as payments from Medicare and some other managed care organizations within three months. This will undoubtly solve Elijah Heart concentrate cash flow problem, were as option two could not be prepaid in six months (University of Phoenix, 2013).Phase II Funding Options for Equipment eruditenessWhich cost-effective equipment pickaxs did you make? Why? High speed-CT Scanner Refurbished Equipment Loan, this option I felt was best because the technology advancement for this machine is not evaluate to change much and the cost is high to buy in the altogether $750,000 and its carriage expectancy is around 10 years if brought new(a).Therefore buying new can greatly affect the hospitals finances and acquiring equipment that is refurbished is much more cost saving with a 30 50 percent cheaper sale tag and it decreases staff training costs. X-Ray Machine- detonator Lea se, seems to be the best option for this equipment because the likely hood of needing to be upgraded or changed is low and it life expectancy is 15 right around years the cost of this machine is 320,000, so a capital mesh just makes more sense than the rest plus this form of leasing allows the company to be able to have the option to acquire the equipment at a bargain purchase option and the remove itself is transferred at the end of the countenance automatically.& sonography System-Operating Lease, this is the best option for this equipment because this can be a device equipment that can have an technical advancement or change in the long run and using other methods could make purchasing this equipment worthless in the succeeding(a) event of advances in technology so it would be a loss cause or investment to have reflect on the balance sheet or to buy new or refurbished. This form of obtaining the equipment is treated s a rental and is not included on the balance sheet as with a capital lease and thither is no bargain purchase option either (University of Phoenix, 2013).What was the outcome of your decision?The outcome of my decision was the best possible choices for the company as the high speed CT scanner being refurbished allowed for the equipment to be purchased cheaper than being brought new. As for getting the x-ray machine on a capital lease makes this the best option because higher(prenominal) present value compared to the operating lease or buying refurbished equipment and the production line has the option of buying the equipment at a bargain price or taking up a new lease and with the life expectancy of this machine being 15 years with little or low possibility of change it makes for a good investment and means of saving finances in the long run. fail on the list is the ultrasound system getting an operating lease is best suited for the company because it allows for an upgrade. The option of the operating lease helps in taking care of te chnological obsolescence (University of Phoenix, 2013).Phase III Funding Options for Capital ExpansionWhich source of funding did you select? Why?HUD 242 Loan damages Program I choose because the hospital can final payment this loan before its time without precautions and it allows the facility to be able to do this later eight years. Although its rate were cheaper than a private bank loan and higher than the tax-exempt and revenue bonds it allowed for a year advantage of loan payoff over tax-exempt, as well as not putting a limit on the period of use for the funds interest rate is lower than both other options setting at a 3.90 percent and tax-exempt is 4.18 percent, and private bank funding is 4.50 percent (University of Phoenix, 2013).What was the outcome of your selection?The outcome for my decision was that this funding option was a healthy choice, as well as the best possible option for Elijah Heart Center (EHC). Benefits were that the option was callable after years instea d of tens and that if the interest evaluate were to decrease it would be possible for the organization to buy back the bonds and reissue the debt making it moreprofitable for Elijah Heart Center (University of Phoenix, 2013).Summary and ConclusionsWhat did you ask from this show?I l acquire that buy choosing the best options for the backup I am able to better provide equipment, workers, and finances for acquiring equipment, working out and staffing of the facility.What would you do differently if you performed the simulation once more? If I were to reduce this again I would not change anything as the other options badly bear on the budget and other mixtures were not good ones they decreased cost but keep dipping as months went by, which would ultimately affect the overall finances for the business thus creating issues such as down-sizing being a reality and or the reduction of benefits to staff and reducing length of stay really does not have an effect on saving or benefiting the company at all.How will you apply what you learned at your menstruation or future job? I could apply what I have learned at my future job by keeping the result and notes for my simulation as a guide for planning and determine how to spend revenue earned or needed to keep my business operational. As well as being able to suggest possible ways and ideas for saving my current business money were equipment and loans are of use. In my future job/business I plan on running my own CMA/CNA facility this can help me with determining the best loans to get for equipment, supplies, and materials needed to run a fully functioning and profitable business.I can sue this simulation to decide on the best way to get those supplies, equipment by determining the cost for leasing or buying new or used equipment. I will be allowed to make a more clear and certified decision about my current and future business ventures. Once I get into a medical facility and staff thoughts and decisions are taken into consideration for future changes I will be able to give an realistic suggestion or idea for changes that can affect staffs jobs, future positions, benefits, and care and treatment of patients..ReferenceUniversity of Phoenix. (2013). Analyzing Financial Indicators for finis Making Multimedia. Retrieved from University of Phoenix, HCS/405 Health Care Financial Accounting website.