HEALTH SERVICES OPERATIONS MANAGEMENT. CLASS 6500:482/582:801 ------------------------------------------------- MONTEFIORE MEDICAL CENTER CASE ANALYSIS - 01/31/2013 1- Why does Elaine Brennan need to develop a new strategy now? A great manager will be the one who is able to examine the environment‚ determine opportunities and threats‚ plan accordingly‚ implement the plans and evaluate the results of his planning on frequent basis to add more value to what his/her organization is built
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Joint-cost allocation. Elsie Dairy Products Corp. buys one input‚ full-cream milk‚ and refines it in a churning process. From each gallon of milk Elsie produces three cups of butter and nine cups of buttermilk. During May 2010‚ Elsie bought 12‚000 gallons of milk for $22‚250. Elsie spent another $9‚430 on the churning process to separate the milk into butter and buttermilk. Butter could be sold immediately for $2.20 per pound and buttermilk could be sold immediately for $1.20 per quart (note: two
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COST CLASSIFICATION CONCEPT OF COST: DEFINITION: A SACRIFICE OR GIVING UP OF RESOURCES FOR A PARTICULAR PURPOSE FREQUENTLY MEASURED BY THE MONETARY UNITS (RUPEES‚ DOLLARS) THAT MUST BE PAID FOR GOODS AND SERVICES . ➢ EMPHASIS ON COST INFORMATION: MANAGEMENT ACCOUNTANTS PAY A LOT OF ATTENTION TO COSTS BECAUSE COST HAVE A VITAL ROLE TO PLAY IN PLANNING ‚ EVALUATING AND DECISION MAKING. FOR EXAMPLE IN PLANNING THE ROUTE AND FLIGHT SCHEDULES THE MANAGER OF AN AIR LINE MUST CONSIDER
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Regional Medical Center (WFRMC)‚ a large-for-profit hospital. This facility is located in Pensacola‚ an area with intense competition and tons of services. He is evaluating a continuous quality (CQI) program that the hospital has implemented in order to address issues of improvement in outcomes. WFRMC also owns and operates an off-site psychiatric facility with 89 beds and the 58 bed Rehabilitation Institute of West Florida. WFRMC is currently in the process of constructing their new cancer center. WFRMC
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CHAPTER 1 INTRODUCTION Lorma Medical Center is the largest private hospital in Region 1. Since it was launched in 1934‚ it has set the standard for quality care‚ cleanliness‚ specialization and technology and it is one of the leading Medical Centers of the North. Lorma Hospital was founded by Dr. & Mrs. Rufino N. Macagba‚ Sr.‚ both physicians. The name LORMA stands for their family names: LOR-enzana‚ the maiden name of Dr. Crispina Macagba and MA-cagba. The hospital began admitting patients
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COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with recording
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their operations into cost or profit centers. It is a management and strategic decision for companies to decide which divisions should be cost centers and which ones should be profit centers. . A cost center may actually provide services that could generate a profit if they were offered on the open market. But in most corporate environments‚ cost centers are not expected to generate a profit and operation costs are treated as overhead. Departments that are typically cost centers include information
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Cost Concepts for Managerial Decision Making Prepared for instructional use in Economics For Managers ECG 507 College of Management North Carolina State Universiy © Stephen E. Margolis 2000 Soon we will be using the concepts of cost that are presented in Landsburg’s chapters five and six to analyze market behavior of firms. With a bit of interpretation‚ however‚ these concepts have immediate application to ordinary decisions that
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Alexian Brothers Medical Center - AlexiCare DeVry University Alexian Brothers Medical Center - AlexiCare Alexian Brothers Medical Center is located in Elk Grove Village‚ IL‚ a northwest suburb of Chicago‚ IL. They are a 387-bed acute care hospital‚ with more than 900 physicians on staff‚ representing more than 80 medical and surgical specialties. They treat more than 18‚000 patients annually. Instead of purchasing an existing EHR system‚ they opted to create their own‚ AlexiCare‚ to assist with
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In this case we looked at data from a long-term study of individuals 65 years of age or older‚ sociologists and physicians at the Wentworth Medical Center in upstate New York investigated the relationship between geographic location and depression. A sample of 60 individuals‚ all in reasonably good health‚ was selected; 20 were residents of Florida‚ 20 were residents of New York‚ and 20 were residents of North Carolina. From the data collected we could know that the higher test scores indicate
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