Total Cost of Ownership and IT Recruitment in Healthcare

Part 1: TCO Elements - Review the administrative and clinical Total Cost of Ownership (TCO) elements that are measured for your organization. Identify two to three administrative and two to three clinical elements that are particular to your organization. Provide a brief description of why these elements have been identified as critical to TCO. Total Cost of Ownership (TCO) is framework for understand the hidden costs and benefits of technology that may not necessary be apparent in the initial expense procuring certain technical solutions (Hockel Hamilton, 2011). An example may be upgrade costs associated with acquiring a new computer. The initial pricing for the computer may be apparent, but the future costs that will be incurred to improve the unit or make more robust and proficient must also be considered. Administrative elements within our organization include training, support and maintenance. Training is critical in consideration of TCO because if not accounted for correctly and provided, end users are more likely to resist changes to new systems, platforms and, slowing adoption of a new solution and adversely impacting productivity (Hockel Hamilton, 2011). General support is a critical part of TCO because unexpected needs may arise that can jeopardize performance of solutions. For instance, system downtime can negatively impact the bottom line of the business. Support in the form of dedicated helpdesk services (if not automatically provided under contract),Show MoreRelatedA Multiple Regression Analysis Is Used To Determine The1660 Words   |  7 Pagesvariables) and the Total Operating Expense (TOE). A multiple linear regression was calculated to predict the DV (i.e.Total Operating Expense_05) based on the IVs (i.e. Staffed beds_05, Medicare Days_05, Medicaid Days_05, Total Surg eries_05, RN FTE_05, Occupancy, Ownership, System Membership, Rural/Urban, Teaching Affiliation, Age 65+, Crime Rate, and Uninsured 2005). The multiple regression model for this Project Part II, using 2005 data, in terms of a regression equation is the following: Total OperatingRead MoreLarson in Nigeria1272 Words   |  6 Pageshas delivered a very pessimistic report, Larson’s own hunch was to stay in that country. Maintaining the operation was complicated by problems in staffing, complying with a promise to increase the share of local ownership, a joint venture partner with divergent views, and increasing costs of doing business in Nigeria. 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One the maximum out-of-pocket costs are reached, the insurance company will pay the full amount in excess of the cap for the items your policy indicates

Macroeconomics - Managing Public Debt free essay sample

Managing Public Debt There are three ways to manage public debt. These budget philosophies are the Annually Balanced Budget, Cyclically Balanced Budget and Functional Finance. Each policy has its advantages and disadvantages which attempt to achieve a deficit during recession and move towards a surplus during inflation, which is the essence of counter cyclical fiscal policy. Based on a traditional orthodox view, the Annually Balanced Budget sees the government control its budget on a yearly basis, which is considered an advantage. Balancing the budget on a yearly basis encounters many disadvantages including intensifying the business cycle and inflation. When the economy enters a period of rising unemployment, incomes will fall and tax receipts will diminish. For the government to balance its budget it must either increase tax rates or reduce government expenditure or provide a combination of the two. However the contractionary nature of the two means that instead of stimulating, aggregate expenditure will continue to decrease. We will write a custom essay sample on Macroeconomics Managing Public Debt or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When inflation is escalating, money incomes rise and so does tax collections. The government will either increase government expenditure or decrease tax rates to avoid a surplus or provide a combination of the two. The Annually Balanced Budget can be seen as pro cyclical instead of counter cyclical, increasing the business cycle and inflation, placing pressure on the economy. It can be seen as not the best option for creating a healthy economy. The Cyclically Balanced Budget sees the government balancing the budget over the course of the business cycle, whilst exerting a counter cyclical influence. The advantages of this policy include offsetting a depression; the government should lower taxes and increase spending to incur a deficit. Also within an inflationary period taxes should be raised, government spending cut to counteract the deficit gained during the recession. The disadvantages associated with the Cyclical Balanced Budget see the goal of stabilisation conflicting with balancing the budget over the cycle because the upswings and downswings of the business cycle may not be of equal magnitude and duration. Additionally the periods of depression may be long and severe resulting in a large deficit which followed by a short â€Å"boom† period would result in little to no surplus, causing a cyclical deficit in the budget. Although the Cyclically Balanced Budget can be seen as a simple option, managing the economy with this policy would prove to be difficult because it’s difficult to predict recessions and boom periods and their length. The third and unorthodox philosophy Functional Finance sees the primary purpose of the government is the stabilisation of the economy, not balancing the budget. The budget is referred to as an instrument for â€Å"achieving and maintaining macroeconomic stability†. The advantages of this option take into account the minor consequences of deficits and surpluses when compared to the alternatives of recession or inflation. The disadvantage of Functional Finance is the concern surrounding the large and growing public debt. Large debt can crowd out investment, which will therefore cause an increase in income disparity. The approach that would be best used in today’s modern economy would an integration of the philosophies of Functional Finance and Cyclically Balanced Budget. Functional Finance sees stabilising of the economy its main focus rather than balancing the budget where as the Cyclically Balanced Budget is a public budget policy which concentrates on the management of the budget over the business cycle. By amending both the philosophies to avoid any disparities, and therefore creating a fourth philosophy this would best suit an economic situation similar to Australia. Bibliography: * Textbook: Jackson Mclver ‘Macroeconomics Edition 8’ McGraw – Hill Pty Ltd 2007 . * Websites: * www. australianbudget. com/report * www. economist. com. info * www. 1800australia. com