Buy custom Capital Expenditure: A Case of Dignity Healthcare Organization essay
Identify the management goals that expenditure would support. Management goals might include revenue, improvement, productivity, quality assurance, employee development, or management services consultant packages
In the modern times, health and medical care forms some of the basic needs that an individual must heavily invest financial resources on. Health care sector has been faced by many challenges over the past decades which have resulted into low quality of health care. Some of the challenges that health institutions faced in the past include lack of medical facilities and drugs in order to meet the urgent and rising demand for health care. Dignity health organization is not any special as it also faces the economic and financial challenges that have limited the ability of the institution to acquire modern and sophisticated medical facilities. For a long time, Dignity Health Care Organization has often relied on traditional and low quality clinical machines in testing and treatment of infections. As a commitment to the organization’s goals and core values (affordable quality health care for all), the institution has allocated enough resources for the acquisition of modern and advanced health machines and other facilities in order to improve the quality of health outcome (Wolper, 2004). In particular, medical X-ray machines have been identified to have a higher potential of improving the quality of healthcare to the patients. However, the main challenge with these machines is the cost and economic factors. These high costs related to the maintenance and acquisition of X-ray machines has been the barrier to Dignity Health Care Organization in relation to meet its objectives.
X-ray medical machines play a significant role in healthcare and provision of medical services. This machine is recommended in healthcare as one of the ways to meet the millennium development goals particularly for healthcare. The use of X-ray machines in healthcare is dated back in 1931 when Garman scientist and physicians first applied X-ray in studying the internal organs that could not be examined exhaustively using simple radiology machines. The effectiveness of X-rays in radiotherapy and radiography prompted Dignity Health Care Organization to consider this alternative. The diagram below represents a sample of an X-ray machine that is often used in clinical and medical health institutions. The use of medical X-ray machine is of great economic and social benefit to the management of Dignity Health Care Organization. Some of the main benefits that accrue from the application of X-ray machine include improved productivity and quality of healthcare provided to patients. Through the use of these machines, Dignity Health Care Organization would reap higher returns especially from the radiotherapy treatments. Before the introduction of X-ray in medical and clinical treatments or observation, the quality of health outcome was relatively below the expectations of clients. In addition, the acquisition of X-ray machines would be of great benefit to Dignity Health Care Organization because this would cause improvement in service delivery and enhanced performance of the medical personnel (Wolper, 2004). Therefore, it is recommended that Dignity Health Care Organization should increase its financial allocation for the purchase of medical X-ray machines since the overall performance of the institution would be improved.
Explain how the item could enhance the economic environment of the organization
The use of X-ray machines in medicine and clinical health is of great economic value to the health care fraternity since in general the productivity and the quality of healthcare will generally increase. This improvement in healthcare would be transformed to other social sectors of the economy. Though the use of X-ray in radiotherapy to treat medical and health complication such as cancer and bone disorders, the quality of healthcare provided to patients significantly improve. Besides, soft X-rays are essential in studying the internal organs and bones owing to the fact that they cause insignificant damages to the body tissues since soft X-rays have relatively lower frequencies and penetration power. On the other hand, hard X-rays are used in clinical therapy in order to destroy and damage molecules within the body tissues that have the potential to cause damage to the body organs. It is for a reason that such organs are of great importance to normal functioning of the body. Hard X-rays are preferred over soft ones because of their higher penetration power that comes from higher frequencies (Dyro, 2004). However, the application of these high power X-rays is limited by the fact that they cause damage to soft body tissues. Economically, use of X-ray in radiotherapy forms the backbone for research in this area. In particular, the application of these modern methods of medication is cost effective. Moreover, modern radiotherapy that applies X-rays in the medication of complicated health challenges would produce magnificent outcome for the benefit of the entire community. Through improved quality of healthcare, the entire population of the human capacity would draw a lot of benefits since improvement in the quality of healthcare often results into proper coordination and production capacity (Dyro, 2004). Besides, X-ray therapy improves the environmental conditions within the health institutions including Dignity Health Care Organization.
Identify the organizational goals the expenditure would support. Goals might include patient care, medical and allied health education, community service, cost containment, leadership role, and clinical research
Use of X-rays in medicine and clinical health helps in meeting organizational goals and core values. Dignity Health Care Organization goals that the capital expenditure on radiotherapy machines such as X-rays would support, include medical and clinical patient care and research. These goals would be realized not only in the short-term but also in the long-run. However, the cost and economic factors that are involved in the process of applying X-ray generated radiotherapy is relatively expensive. In conducting the cost-benefit analysis, Dignity Health Care Organization would identify the unnecessary expenditures and costs that would be minimized in the processes of acquiring these machines. Weighing the costs against benefits is a fundamental responsibility worth undertaking (Cleverley et al., 2011). Through its finance and accounting department, Dignity Health Care Organization would investigate the potential and capacity of acquiring the new machines. However, the major beneficiaries of such capital expenditure would be the patients’ care department who has a direct link and interaction with these X-ray machines. Patients diagnosed will receive a great boost following the introduction of X-rays in the diagnosis of internal organs complications. Other than clinical and healthcare, the X-rays machines are of great role in improving the quality of healthcare through research and training. The use of these machines creates room for the clinical research experts to undertake deeper studies into human structures by exposing the internal organs that cannot be viewed using the naked eye or inferior machines. For these reasons, healthcare sector stands the opportunity of benefiting from the introduction of X-ray radiotherapies.
Explain how the expenditure would relate to the needs of the organization. Explain how it would be beneficial to the organization
In line with the vision and objectives of Dignity Health Care Organization, the critical aspect of improving the quality of healthcare and services provided to the public calls for massive infrastructural investment in order to increase the competitiveness of the institution following global health campaign. Dignity Health Care Organization is committed providing affordable healthcare services to its clients without discrimination or favoritism. This goal will be realized only if the institution considers increasing their financial allocation for the purpose of investing in healthcare and capital asset base that include radiology machines (X-ray). Dignity Health Care Organization is founded on the principle of equality in the provision of health services to its clients. In order to achieve this objective, the management of the organization has identified use of modern technology in treatment and cure. This is complementary with the capital expenditure program that prioritizes radiology and radiography especially for the treatment of chronic infections such as cancer and bone disorders. Therefore, a move by Dignity Health Care Organization to acquire modern X-ray machines for the purpose of improving the outcome of healthcare is complementary with the needs of organization; digitalization of healthcare (Cleverley et al., 2011).
Justify the expense to the organization. Relate the reasons to the hospital goals, including departmental and management goals, and how the acquisition would be beneficial
The acquisition of X-rays machines by Dignity Health Care Organization is justifiable. This is because the organization needs to expand its services to the entire community at lower and economical costs. Therefore, it is important for Dignity Health Care Organization to ensure that it acquires the right materials and equipment for the purpose of the increasing the competence and the competitiveness of the organization (Baker & Baker, 2011). Although considered expensive, X-rays are important in the modern health institutions including Dignity Health Care Organization since these machines are essential in improving the productivity and the economic performance of the organization and the environment at large. For this purpose, Dignity Health Care Organization should move on with its initial plans of digitalizing the service provision. In conclusion, it is noted that the healthcare sector is faced with a number of practical challenges including the increase in the cases of chronic infections such as cancer, whose treatment or prevention must be done only under specialized machines with the ability to screen and scan the internal organs. One of the machines that would be beneficial in the modern era is X-ray machines. Therefore, Dignity Health Care Organization would only be competitive in the modern era by ensuring that it increases its allocation of resources for the digitalization process of its health and clinical services for the benefit of the society as a whole.
Buy custom Capital Expenditure: A Case of Dignity Healthcare Organization essay
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