Financing of a New Ambulatory Surgery Center

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Table of Contents

Introduction
Hidden Expenses
Ethical Financial Practices and Corporate Responsibility
The Impact Finances Have on Organizational Models
Conclusion
References

Introduction

A new ambulatory surgery center will help to improve community health and assist patients. However, it requires significant investment to accomplish the goal and create the necessary facility. Generally, it needs $2 million to perform all tasks and guarantee the center is opened. The sum will be used to sponsor the major activities, including acquiring land for the would-be center, site development, design, and final construction (Badlani, 2019). These costs can be viewed as known expenses, and it is vital to have the sum at the start to initiate the project and ensure it can evolve.

Hidden Expenses

Planning a new center, it is also vital to consider potential hidden expenses. First, the electronic medical records (EMR) system should be integrated. It enhances the quality of care, reduces mistake rates, and aligns better interaction between specialists. EMR should be bought from vendors working with these applications and responsible for maintenance. It might cost an additional $30,000 or $50,000 (Tsai et al., 2020). Moreover, it is vital to consider possible delays in the schedule that might increase spending or traumas among workers or employees.

Ethical Financial Practices and Corporate Responsibility

The outlined budgetary needs are sustainable regarding the principles of corporate responsibility. First, stakeholders interests will be considered when managing finances and building a new center. Employees and workers needs will be assessed to ensure better cooperation. Furthermore, the construction of the center will help to meet the local communitys requirements, which is essential regarding sustainability principles (Badlani, 2019). The costs will be used only to perform the planned tasks, and all operations will be transparent (Witiw et al., 2019). It means every stakeholder will have a chance to use provided reports and analyze how the budget is used.

The Impact Finances Have on Organizational Models

Finances are a fundamental element of the stable work of the healthcare sector and the planned facility. They are directly correlated with the quality and safety of patient care (Akinleye et al., 2019). Sufficient funding ensures that the organizational model focused on excellence will be chosen and supported. For this reason, there is a critical need for stable financing and the availability of funds that can be used for continuous improvement (Akinleye et al., 2019). In such a way, planning a new health facility, it is vital to consider the necessary expenses and ensure they are relevant.

Conclusion

Altogether, the outlined business plan will help to meet the organizational goals. The gradual development of the center requires stable financing and sums outlined previously. Thus, the step-by-step evolution and development supported by achieving the outlined goals will help to organize the units work and ensure its functioning helps the local community (Badlani, 2019). For this reason, the offered plan will help to support the organizations development and ensure its fast evolution and ability to achieve major goals.

References

Akinleye, D. D., McNutt, L. A., Lazariu, V., & McLaughlin, C. C. (2019). Correlation between hospital finances and quality and safety of patient care. PloS one, 14(8), e0219124.

Badlani, N. (2019). Ambulatory surgery center ownership models. Journal of Spine Surgery, 5(2), 195S203.

Tsai, C. H., Eghdam, A., Davoody, N., Wright, G., Flowerday, S., & Koch, S. (2020). Effects of electronic health record implementation and barriers to adoption and use: A scoping review and qualitative analysis of the content. Life, 10(12), 327.

Witiw, C., Wilson. J., Fehlings M., & Traynelis V. (2020). Ambulatory surgical centers: Improving quality of operative spine care? Global Spine Journal, 10(1), 29-35.

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Financing of a New Ambulatory Surgery Center

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