Health Care Finance

Health Care Finance Name Grade Course: Tutor’s Name: (February 22, 2012) . Health Care Finance Case Study I: Forsaken Memorial Health System (FMH) - Evaluating the governance system Forsaken Memorial Health System (FMH) serves more than three hundred patients in the Middle East. There is only one significant competitor in the region. Forsaken Memorial Health System (FMH) has the view of extending its services from just being a hospital to constitute a health care system (Griffith & White, 2007). This will enable Forsaken Memorial Health System (FMH) serve the community better and address the challenges they face comprehensively. The main challenge lies in the reflection that Forsaken Memorial Health System (FMH) may not be fully prepared for the tasks ahead. The paper checks on the evaluation of the governance system that is expected to be endorsed by the Forsaken Memorial Health System (FMH) to make the plans successful in making the organization independent (Griffith & White, 2007). The governance system looks at the strategies to be adapted, plans to be incorporated, cost control and the quality of services to be provided. The success of the project incorporates the bylaws in the Middle East region, community commitment to the success of the project and the Forsaken Memorial Health System (FMH) employee’s commitments to attain recognition. Forsaken Memorial Health System (FMH) is subject to finding a strong partner to counter the competitive health environment in the Middle East (Griffith & White, 2007). The governing board in the Forsaken Memorial Health System (FMH) represents the shareholders. It has the mandates of decision making and resolves views which are conflicting. The first question is; is the Chief Executive Officer (CEO) and the management team prepared for the changes ahead? The plan of extending the hospital to a health care system needs prepared staff in meeting the challenges that lay ahead of the changes. This implies that the staff and the Chief Executive Officer must own up the ideas (Griffith & White, 2007). They must be prepared to fuel the changes in making the Forsaken Memorial Health System (FMH) a success and earn considerable reputation in the society. Are the vision, mission and values incorporating the changes from a hospital to a health care system? This is critical in that a vision, mission and values dictate the organizational culture in place. Organizational culture in turn directs the form of relationship that exists between the community and organization. This is crucial in that the health care system must embrace the community views in order to realize their goals in the competitive environment. Members of the Forsaken Memorial Health System (FMH) and the community served must be willing to work concurrently in realizing excellent health care (Griffith & White, 2007). Does Forsaken Memorial Health System (FMH) have a board and Chief Executive Officer Evaluation system that keeps up to the prevailing competition? Competition is critical in the health care system. It implies that Forsaken Memorial Health System (FMH) must have human capital that is self driven and innovative in nature (Griffith & White, 2007). The evaluation system enables the hospital keep updated on the pa...