Analysis of Economic and Outside Influences at Seattle Children’s Hospital
Instructions:-
Discuss the economic impact and outside influences to Seattle Children’s Hospital. The paper must address the following areas: the national and world economic impact of Seattle Children’s Hospital, explanation of the sustainability of Seattle Children’s Hospitals organizational care model, healthcare reform (has it affected Seattle Children’s Hospital? How and why?) and regulations (what regulations does Seattle Children’s Hospital have to adhere to? Federal? State?). This is all to be specific to Seattle Children’s Hospital.
Be sure to cite at least 4 references, and you must provide links to your sources.
This is to be 1375 words in length and in APA format
Solution
Analysis of Economic and Outside Influences at Seattle Children’s Hospital
Introduction
Seattle Children’s Hospital is one of the best hospitals in Washington as it is ranked the sixth best health care center for children in the USA. Additionally, the hospital performs better in other areas such as pulmonology, neurology, nephrology, cancer and so on. This paper transcends an analysis of the of the economic and outside influences to the facility. As such, the paper will outline the national and world economic impacts, an analysis of the sustainability of the facility’s organizational care model, and the impacts the facility faces as per regulations and healthcare reforms.
Effects of National and World Economy
Seattle Children’s Hospital experiences both the positive and negative effects of both the state and global economy. First, Seattle hospital is affected by the apparent increasing rates of unemployment within the country ever since the economic crises of 2009 and 2008. Economically, it is a proven fact that a higher rate of unemployment predisposes individuals to have less income, rather, the unemployed populace expects to earn less income. With these perceptions in mind, it is evident that the attitude of individuals in accessing healthcare services at Seattle Children’s Hospital fluctuates from a majority of patients at the facility. Furthermore, low-income earners tend to ignore the insurance policies to cover their health status. Additionally, increasing rates of unemployment will alter the income generation processes, such as charities, at Seattle Children’s Hospital. As such, the phenomenon will reach a point where the individual will no longer donate willingly to the program as a result of minute income generation(Hawthorne & Kwan, 2013).
As a non-profit organization, Seattle Hospital relies more on government incentives, as such, with poor economy within the federal government will correspond to adverse effects on the willingness of the government to fund non-profit healthcare facilities(Clifton & Robison, 2012). Consequently, the state of the economy can undesirably affect the patients. Arguably, insurance firms always deduct a lump sum amount of money from the income of workers and individual can lose their covers during adverse economic episodes(Damianov & Pagán, 2013). Therefore, it is conclusive to say that weak economy will diminish the demand for care at the facility.
Investment unpredictability, the rise in pension duties, and heightened capital spending that is apparently funded through cash reserves have put pressure on the Seattle Children’s Hospital’s balance sheets. This burden on the balance sheets has contemporarily acted as the primary source of ambiguity, unpredictability, and tension within Seattle Children’s Hospital. Seattle Children’s Hospital experiences pressure on its measures of liquidity due to the investment unpredictability, as such, it results in uncertainty to predict income that is generated by the facility as well as challenging the balance sheet in regards to auditing. Also, instabilities in investment stress both the annuity liabilities for the facility and also the benefits subsidizing necessities which increase the level of vulnerability for the clinical operations (Smith, 2010). Therefore, it is conclusive to an asset that investment unpredictability will hinder the facility to plan for investment strategically.
Sustainability at Seattle Children’ Hospital
With its organizational care model, Seattle Children’s Hospital has continued to be one of the unsurpassed hospitals for children. As a healthcare facility, the facility should adhere to sustainable obligations, being “clean and green.” Sustainability aims at setting the best standards within the environment and exercising excellent leadership skills within the organization. First, Seattle Children’s Hospital is a prepared to outshine other healthcare organization as it was the first hospital to sign up for the Healthy Food in Health Care Pledge(Seattle Children’s Hospital, 2017). Additionally, Seattle Children’s Hospital is one of the two facilities in the Seattle Climate Partnership. Recently, Seattle proposed a master-plan to local authorities which entailed a construction of a campus hospital designed to make as a being free of carbon by 2030. Also, the facility fosters a healthy environment for children as they believe that children are entitled unique necessities as well they should grow within an environment that is free of injuries, diseases, and other illnesses. As such, Seattle Children’s Hospital comprehends that with maximum co-operation with the community and spirited inquiry, it will have the ability to prevent, treat, and eliminate disease associated with children.
The statements of the hospital depict their intention to prevent, as such, it permits all the staff to take every one of the components of preparatory standards into their obtaining arrangements and choices. This principle stipulates that the healthcare practitioners should do no harm to children. Additionally, Seattle Children’s Clinic does not entertain any health risks as it acts towards the risk promptly. Also, it is imperative to note that the facility utilizes that bio-psychosocial model in handling any process of intervention. This method helps in the rational decision-making process that treats the patient entirely. Hence sustainability is achieved.
Additionally, Seattle Children’s Hospital utilizes the spirit of inquiry which is an important culture within the facility. The culture of spirited inquiry plays a vital role in the performance of the facility. As such, every healthcare professional within the organization is cautious of time and are dedicated to delivering better services to their patients. More so, the hospital appreciates change which helps in the generation of new ideas that will assist in adhering to their mission statement.
Clinical practices at Seattle Children’s Home are environmentally sustainable as they focus on using materials that do not pollute the environment. As such, the facility has a system that detects high levels of carbon aimed at improving a healthy environment. Also, the facility has formulated a plan to reduce costs on transportation and service to patients. Also, the institution manages its wastes appropriately. Currently, the facility is on the verge of utilizing lab coats that cannot wear and tear which is seen to reduce the costs as compared to other coats. It is, therefore, a fact that facility has, at some point, achieved sustainability goals. Evidently, the facility was awarded the Practice Greenhealth Top 25 Environmental Excellence Award in the year 2015 and 2016(Seattle Children’s Hospital, 2017b).
Last, Seattle Children’s Hospital has a training program that involves training other continents such as Africa on delivery healthcare services through within the sustainability lines. This program enhances diversity as healthcare professionals can interact and share ideas that are vital in making a comprehensive decision when handling patients. Sustainability at Seattle Children’s Hospital is one of the most fundamental goals of the facility. All its practices focus on delivering healthcare services which are sustainable.
Effects of Healthcare Reforms
The healthcare industry has undergone and still undergoes through changes in regulations and policies in which any organizational care model is affected. Seattle Children’s Hospital is no exception when it comes to the demands of healthcare reforms. The facility is experiencing challenges associated with healthcare reforms, as such, the facility has to transit as these reforms change their care model. Reforms must be implemented. Seattle experiences challenges as they implement the Medicare reform despite opposition from non-profit healthcare facilities(White & Wu, 2014). Also, it is significant to note that the facility adjusts its care model as per the changes in reforms within the country. The hospital dwells on a system of idea generation which can be implemented at any time or place so long as it does not affect their patients. This flexibility to adhering to the health reforms puts the facility in a better position of receiving government funding. Also, the facility can be affected negatively, for example, the insurance cover reforms have placed the facility at the receiving end of balancing the financial statements. The facility finds it hard to adapt to the new Obamacare Act. As a 50-bed hospital, there is a need for the facility to add more space to accommodate more patients.
Conclusion
With the fluctuating
economic situations across the nation as well as the world, Seattle Children’s
Hospital has to formulate plans to survive economic effects as mentioned
earlier. Also, as one of the sustainable healthcare facility, it is important
that they use this feature as a signature characteristic to be the best
hospital in the US as well as at a global level. Healthcare reforms are
imperative in the healthcare sector. Therefore, the facility has to devise
ways to implement these reforms and
making sure that the services they offer to patients do not interfere.
References
Clifton, J., & Robison, J. (2012). Healthcare Is Killing Us. Gallup Management Journal Online, 1.
Damianov, D. S., & Pagán, J. A. (2013). Health insurance coverage, income distribution and healthcare quality in local healthcare markets. Health Economics (United Kingdom), 22(8), 987–1002. https://doi.org/10.1002/hec.2874
Hawthorne, T. L., & Kwan, M. P. (2013). Exploring the unequal landscapes of healthcare accessibility in lower-income urban neighborhoods through qualitative inquiry. Geoforum, 50, 97–106. https://doi.org/10.1016/j.geoforum.2013.08.002
Seattle Children’s Hospital. (2017a). Our Mission, Vision and Values | Seattle Children’s Hospital. Retrieved March 7, 2017, from http://www.seattlechildrens.org/about/mission-vision-values/
Seattle Children’s Hospital. (2017b). Sustainability Program | Seattle Children’s Hospital. Retrieved March 7, 2017, from http://www.seattlechildrens.org/about/sustainability/
Smith, S. R. (2010). Nonprofit organizations and government: Implications for policy and practice. Journal of Policy Analysis and Management. https://doi.org/10.1002/pam.20517
White, C., & Wu, V. Y. (2014). How do hospitals cope with sustained slow growth in medicare prices? Health Services Research, 49(1), 11–31. https://doi.org/10.1111/1475-6773.12101