Posted: March 22nd, 2020

Health Finance Assignment | Homework For You

Journal Reporting 3 Reflect on your learning through the practicum experience. How will it influence your current and future practice? What were positive and negative aspects of the experience? Mention something about learning health finance Below is the  journal reporting 2 Journal Reporting 2 I work a small profit psychiatric/primary care clinic. 4 employees encompass of psychiatrists, NPs, and administrators. We are contracted with Health Plan; county medical holders, as well as all commercial insurance and self-pay patients. Our bulk patients are county medical patients. We see about 65 patients a day for 3 of us, 2 NPs and one psychiatrist.

NPs get $135 for medications evaluation whereas MD gets $155. We collaborate with the psychiatrist but the other NP and I do primary care services. For instance; if a new county patient comes, we must evaluate both mental health services and primary care. If we do that, the reimbursement rate is $ 195 and each follow up is $145. The cost to run the business is $7500 a month including rent, electricity, internet and etc. We share the cost but sometimes we receive grant from the county It is complicated practice because sometimes the psychiatrist sees 25 patients a day and all his paperwork is done by the medical assistant that we three of us share without an extra fee. Sometimes she has to work overtime due to his work and we end up paying for it.

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My preceptor is trying to figure out a way to cut cost for the overtime. One solution that we are working on is divide the hours of the medical assistant in three and propose this to the psychiatrist. We are in the middle of purchasing new computers, printers and chairs in the office; roughly it will cost us $5000. One of the obstacle is the waiting period of the commercial insurance and county reimbursement; sometimes it takes 4-5 weeks for the claim to get paid. We are also trying to figure out a quicker way for the payment.

We had a meeting last week at San Mateo county for the business office, they advised us that they cannot pay us sooner than 5 weeks. We are struggling financially but we are looking for another avenue to survive.

These are our objectives: 1. Be the basis of the clinical trial budget; 2. Avail the development budget resources 3. Have the financial budget completed 4. Provision of tips that would market the budget to the sponsors

The disclosure statement fee structure is as below: Onetime fee 1. Startup fee for the site 2. Review fee for IRB 3. Research administration fee including aspects of coverage analysis, budget development, tracking and expense reconciliation 4. Contracting fee including aspects of legal reviewing and contract negotiation 5. Document storage fee Invoiceables i) Continuous Review Fee ii) Amendment Reviews iii) Binders for source documents iv) Recruitment, advertisement v) Coordinator’s travel expenses; meeting and purchasing vi) Statistician fee vii) Publication costs Reference Harold, K. (2013). Project Management: A Systems Approach to Planning. Hoboken: Wiley Scheduling And Controlling, (11). Kendrick, T. (2014). The Project Management Tool Kit : 100 Tips and Techniques for Getting the Job Done Right. American Management Association, (3). Finance homework help

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