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Elijah Heart Center is a 140-bed cardiac care hospital based in New York (University of Phoenix, 2012). The hospital contains multiple specialty areas in order to support the full spectrum of patient recovery; some of these specialties are pulmonology, radiology, nephrology, and laboratory. Although the hospitals revenues and patient volumes are increasing at a rapid rate, the profit for the hospital is decreasing quickly (University of Phoenix, 2012). The board of director’s has recommended that a consulting team be brought in to analyze the situation and offer a solution. As the senior consultant from the chosen firm, I will be a part of the team during the two-year acquisition. The assignment is to simulate the finances for Elijah Heart Center, and recommend a solution to cut cost, purchase new equipment, and choose a funding option for Elijah Heart Center.
I have conducted the simulation exercise and analyzed the financial indicators for Elijah Heart Center. My selections throughout the exercise will be reviewed and discussed in this essay. How I chose to cut cost and which loan option I selected for the Heart Center will be elaborated on, and I will explain why I selected the choices I did . The essay will review my selections during the simulation in reference to how I chose to replace equipment in the Center, and why I chose the method, I did. I will elaborate on what source of funding I selected for capital expansion, and why I chose that source for the Center. Finally, I will summarize what I learned from doing the simulation and how I may apply the information to my current job, as well as how I might do the simulation differently next time.
The simulation required me to select from different options on how I would cut cost to solve the cash flow situation at Elijah Heart Center. The simulation offered several choices to cut cost for the hospital, the choice I chose was to reduce agency staff and reduce the benefits for the employed staff members at the...
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