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Submitted by to the category Science and Technology on 01/18/2013 03:40 PM

Simulation Review Paper

HCS 405

March 5, 2012

Barbara Archer

Abstract

Elijah Heart Center (EHC) based in New York is a 140-bed cardiac hospital specializing in open-heart surgery, cardiac catheterization along with outpatient services (University of Phoenix, n.d.). Hospitals in the United States are faced with funding cuts and reduction in Medicaid and Medicare payments

Simulation Review Paper

Elijah Heart Center (EHC) based in New York is a 140-bed cardiac hospital specializing in open-heart surgery, cardiac catheterization along with outpatient services (University of Phoenix, n.d.). Hospitals in the United States are faced with funding cuts and reduction in Medicaid and Medicare payments. Elijah Heart Center has reported that profits are down although patient volume and revenues are up. This paper will explain what cost-cutting measures and loan options will be used from the simulation. Lastly, I will explain the choices regarding cost-effective equipment and the sources of funding for the capital expansion of the hospital.

Capital Shortage May 2x03

The simulation asks for the best strategy to solve the cash flow problem at Elijah Heart Center. Gilbert Sanchez Chief Executive Officer feels that if we don’t cut cost and improve cash flow EHC will be in trouble (University of Phoenix, n.d.). But, Vice President of Patient Care believes downsizing and reducing staff can cut cost drastically. During the first part of the simulation I took the CEO and Vice President recommendations in account. I chose to reduce agency staff and Patient length of stay. The first cost cutting option reducing agency staff will reduce cost drastically due to the salaries of agency staff is twice that of other hospital employees. Plus, the skills of agency staff are lower than regular employees due to the regular interaction with patients daily. The second cost-cutting option is reducing patient length of stay. Although this option only showed...

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