Summary Managing Financial Resources in Health and Social Care Table of Contents Table of Contents 2 Task 1 3 1. Hounslow council were very impressed by your report. Over time, the organization in relation to its financial statements and other supporting documents shows a significant growth in terms of expansion in various departments, mergers and acquisitions, high number of patients, and high revenues generated. State and explain the categories of cost e. Furthermore main expenses is due to cost spend on elderly patients and patients who are having some kind of disability or any other type of illness.
The level of expenditure should be documented and clear reports drawn from them; the concerned departments should be informed so as to get their input on the same. Healthcare sector regulator monitor has introduced some laws in relation with management of funds within the enterprise. To deal with this type of condition in effective manner, CareTech can adopt following practices- Working within estimated cost This will help in eliminating additional cost burden from the entity. Abnormal cost is charged in costing The incurring cost that caters for the loss by either fire or riot or theft is termed as an abnormal cost. Even they can summon outside help after deciding to leave. The company also encourages early payments from the customer by offering discounts on such payments; this increases the chances of early cash availability.
There is issue of identifying the priorities to allocate fund in a health care sector is a crucial task as all the activities are very important here. Additional obtaining of funds from the government CareTech can overcome from the situation of financial shortfall by taking grants from the government. Optimization of the cash flow management would aid the organization in achieving financial health. This software helps in making decisions related to buying and selling, improvisation of customer services and etc. Through cost reduction methods and financial expediency, the organization has effectively adhered to the management guidelines thus achieving its goal of providing social care to a larger section of the population.
Research Methods for Social Work. This will help in gaining an insight on the costs and expenditures linked with these services. This helps people to make better choices for selecting appropriate health and social care. Public- The revenue generated from public in regard of providing health care services so that care home can generate income. We ensure plagiarism free writing obeying academic integrity and honesty making us a dedicated team towards developing original content helping students to ensure high grades. Students can also get cheap and professional online. The Saarim hospital is not able to collect funds from the external resources as the goodwill of the hospital had spoiled due to shortfall.
It is more detailed than comprehensive budgeting, which has a more general perspective. The organization follows these principles in reporting its financial information. Financial cost of social exclusion: follow up study of antisocial children into adulthood. Assignment status: Already Solved by our Experts. Email : Task 3 3.
Therefore, it is essential for businesses to formulate personal budget so that health care home can identify the expenses which are incurred by them. Research Methods for Social Work. Remaking health care in America. This paper will discuss the financial management and its significance in the social. Considering options have value is one of the basic insights of contemporary financial theory.
The systems and procedures should be accurate and effective to avoid cases of misrepresentation of data and information with the organization. Income Statements: income statements states revenue first then expenses. The conveying of message integrity messages to staff through the employee company handbooks and manuals. Evaluate how financial considerations impact upon a service user. Preferred typeface to be of a common standard such as Arial or Times New Roman for the main text.
This fact cannot be ignored that a consumer will have to pay higher charges if the services are provided according to his convenience. We may take example to explain this. You should refer to the assessment criteria and the relevant unit content, when preparing your evidence of assessment. Different sources of income in health and social care There are various sources of income in health and social care which are as follows-. Because at last, it has to set price of by considering total cost. Do not ask the lecturers responsible for the course — they are not authorised to award an extension. We will also discuss on the various decisions that should be taken by the company for managing its resources.