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Biomedical subjects

F D Margrif

Publications and source records attributed to F D Margrif.

7 recordsLinked to original sources
PubMed1991

The human resource role in addressing the nursing shortage.

A new initiative on the part of hospital management is needed to involve itself and the HRD more actively in addressing the nursing shortage. Hospital management can provide organizational support, the HRD the needed leadership, and financial managers the measuring tools to adopt a retention posture or balanced solution approach. Ultimately, hospital management wants to know how increased expenditures on human resources, and specifically nurses, affect the bottom line. However, two points need to be mentioned. First, not all steps taken by the HRD will require a dollar investment (for example, improved communication), but they will need the attention and support of hospital management. Secondly, if hospital management is waiting for an exact, accounting-supported cost-benefit analysis that justifies additional expenditures on nurses, then the effort will probably never be made. It is difficult to show a cause-and-effect relationship between discretionary expenditures (such as research and development, advertising, employee training programs) and the bottom line.

Efficiency↗
PubMed1991

The role of health information managers in hospital financial management.

One area of internal analysis that has attracted increasing attention from healthcare managers is product line management. The coded data produced by the health information management professional is integrated with financial data to provide decision makers with valuable information about service quality and profitability.

Abstracting and Indexing↗
PubMed1986

Controller's role in monitoring prospective payment system.

The challenge for hospital controllers in overseeing the prospective payment system (PPS) lies not in acquiring technical expertise but in working with the chief executive officer to coordinate organizational change. Specifically, the controller should assist in creating a prospective payment committee (PPC)--an interdisciplinary group of executives, middle managers, and medical staff. The PPC's duties, among others, include educating staff about the PPS, development of a productivity reporting system, and review of the responsibility accounting structure.

Financial Management↗
PubMedDate not supplied

Getting to the bottom line. Hospitals' survival may hinge on the contribution margin.

Healthcare managers have devoted increasing attention to product line management in the face of growing competition. The general belief has been that although product line management and the contribution approach (internal financial reporting and analysis that distinguish between variable and fixed expenses and include the contribution margin) help enhance profitability for hospitals that have the prerequisite software systems and management expertise, they are hardly necessary for survival. But the contribution approach to product line management may indeed be required for survival for all hospitals. Current hospital accounting systems do not provide information on which products contribute to fixed expenses and profitability and which, although vital, are financial losers. Product line managers need this information to make optimal decision trade-offs among quality, availability, and benefits of medical services. The contribution margin is the difference between the fee received for the service and the variable expenses incurred in providing the service. It represents the resources available to cover fixed expenses that will occur regardless of volume and to provide a profit (or, for the not-for-profit, to provide working capital and expand services).

Accounting↗