Section I of the Capital Project
Section I of the Capital Project
Denise Cody
HCS/571
February 2, 2015
Professor Thienkim Doan
Section I of the Capital Project The capital purchase project is for a request that proposes the purchasing of continuous bedside pulse oximeters for the New England Baptist Hospital (NEBH). Pulse oximeters are a specialized piece of equipment that non-invasively measure the oxygen saturation in patients. The management goal that supports this expenditure is based upon the quality assurance that the organization is providing the best evidence-based care to the patients. The management team does demonstrate that this capital purchase will enhance the economic environment of the organization. The organizational goals are identified and do support the need for this purchase. The organizational need to acquire these bedside pulse oximeters is explicitly stated. This acquisition process is explored and does indicate that the management goals are achieved by getting the approval for this capital purchase.
Capital Purchase
The New England Baptist Hospital is a specialty referral hospital that focuses on orthopedic surgery and the care of musculoskeletal disorders. The hospital performs a minimum of thirty inpatient surgeries each day. The total number of inpatients bed are one hundred and twenty. The organization operates annually with a two million dollar budget allowance for capital purchase. This budget is reviewed and adjusted every three to five years. This multi-year capital budget is coming up for review for the fiscal year 2015. The finance director is in the planning phase for this budget review as it is scheduled for the first week in February. In order for a line item to be considered a capital purchase, the item has to cost two thousand dollars or more. The policy at NEBH states,” that a capital equipment expenditure shall be considered as one in which a depreciable asset is acquired”. This statement can be found in the policy and procedure manual viewable
Denise Cody
HCS/571
February 2, 2015
Professor Thienkim Doan
Section I of the Capital Project The capital purchase project is for a request that proposes the purchasing of continuous bedside pulse oximeters for the New England Baptist Hospital (NEBH). Pulse oximeters are a specialized piece of equipment that non-invasively measure the oxygen saturation in patients. The management goal that supports this expenditure is based upon the quality assurance that the organization is providing the best evidence-based care to the patients. The management team does demonstrate that this capital purchase will enhance the economic environment of the organization. The organizational goals are identified and do support the need for this purchase. The organizational need to acquire these bedside pulse oximeters is explicitly stated. This acquisition process is explored and does indicate that the management goals are achieved by getting the approval for this capital purchase.
Capital Purchase
The New England Baptist Hospital is a specialty referral hospital that focuses on orthopedic surgery and the care of musculoskeletal disorders. The hospital performs a minimum of thirty inpatient surgeries each day. The total number of inpatients bed are one hundred and twenty. The organization operates annually with a two million dollar budget allowance for capital purchase. This budget is reviewed and adjusted every three to five years. This multi-year capital budget is coming up for review for the fiscal year 2015. The finance director is in the planning phase for this budget review as it is scheduled for the first week in February. In order for a line item to be considered a capital purchase, the item has to cost two thousand dollars or more. The policy at NEBH states,” that a capital equipment expenditure shall be considered as one in which a depreciable asset is acquired”. This statement can be found in the policy and procedure manual viewable
References: Curry, J. P., & Jungquis, C. R. (2014, June). A critical assessment of monitoring practices, patient deterioration, and alarm fatigue on inpatient wards: a review. Patient Safety In Surgery, 28(29), 2-20. doi:10.1186/1754-9493-8-29 ECRI Institute ECRI institute releases top 10 patient safety concerns in 2014. (2014). Patient Safety Monitor Journal, 15(7), 4-7. Retrieved from http://search.proquest.com/docview/1542639690?accountid=458 Finkler, S The Joint Commission announces 2014 National Patient Safety Goal. (2013, July). Joint Commission Perspectives, 33(7), 1-4