FM006 Operational Analysis Assignment
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Access the following to complete this Assessment:
- Use the APA course paper template available here.
- Download the Writing Checklist To Review prior to submitting your Assessment.
For the Assessment, assume that you are a financial expert at Arizona Health Services (AHS), a large not-for-profit hospital system and you have been charged with conducting an operational analysis on a single resource or asset. You will report the results of your analysis in an email to the AHS leadership in which you explain the efficiency and viability of the resource or asset you selected.
To complete the Assessment, conduct an operational analysis of a single resource or asset in which you determine whether the resource or asset is efficient and viable. As you prepare the email, consider the following:
- How managing material assets contributes to making effective management decisions and ensuring operational efficiency.
- How leveraging the cost of trade credit can improve cash flow and enhance
- working capital.
- How lease financing and business valuation can help healthcare managers use financial resources effectively.
- How the assessment of potential expenditures on capital investment informs capital investment decisions.
- How long-term financing options allow healthcare organizations to achieve financial and operational viability in the long-term.
- How project risk analyses are used to conduct the appropriate risk evaluation for the project.
- How post-audits contribute to the review of project performance.
Your email should include the following:
- Describe the resource or asset you selected.
- explain how the resource or asset is used in the healthcare facility.
- Describe the operational analysis process you used to determine the efficiency and viability of the asset or resource selected
- Explain whether the resource or asset is the most viable and efficient option.
FM006 Operational Analysis Assignment
- Justify your determination.
Operational Analysis for MRI Machine In Arizona Health System Sample Paper
Arizona Health Services (AHS) is one of the most extensive non-profit hospital systems that has recorded outstanding performance over the years. The hospital management has heavily invested in different resources to enable the hospitals to deliver quality services to all its patients. There is overwhelming evidence showing that patient outcomes in AHS have continuously increased due to sufficient resources such as technological resources (Choyke, 2018). MRI machines are one of the technological resources that has had a great impact on the general performance of the hospitals. Therefore, the goal of this paper is to conduct an operational analysis for MRI machines in the Arizona Health System.
MRI machine or scanner is one of the advanced technological resources used in radiology to form images that show anatomy and the physiological processes in the human body. The machine uses strong magnets and radio waves to form detailed images in different organs since the human body is made of water molecules that consist of both oxygen and hydrogen atoms. The magnetic fields usually attract protons in hydrogen atoms (Khan et al., 2019). During the scanning process using the MRI, a computer is used to control the whole process. Pictures formed by the MRI are usually projected on the monitor.
The MRI machine has been of great significance to the AH system because the health providers use the scanner to make effective decisions concerning the patients’ sickness. Furthermore, this resource has enhanced efficiency as it examines different types of illnesses within the shortest time possible. With the MRI in place, AHS has recorded outstanding performance in terms of quality services since patients are effectively examined before they are treated. This has reduced medical errors as health care providers use the machine to examine to understand the needs of the patients.
Operational Analysis Process
The operational analysis process used for the MRI machine was the number of patient outcomes in the hospital. The hospital has experienced increased patient outcomes since the MRI machine was integrated into the AH system. The machine has resulted in more than 21% increase in hospital visits because of the quality medical services offered (Blauwet & Bell, 2018). The increase in patient outcomes indicates that this resource is of great significance to the general performance of the facilities. Besides patients’ outcomes, quality service is another operational analysis process deployed as the resource has helped nurses offer quality services to the patients.
Efficiency and Viability of MRI Machine
MRI machines have enhanced efficiency and viability in the hospital since effective decision-making has reduced both patient and health care expenditure (costs). Patients no longer move from one health care to another to be examined since the MRI machine has the capability to examine different types of sickness or disorders one has developed. The machine is viable because the hospital has used the MRI scanner to examine different diseases in different patients. This is the primary reason why the number of patient outcomes has increased annually.
Although AHS is a non-profit making health care organization, it has heavily invested in different resources. MRI machine is one of the technological resources that has enhanced quality performance in AHS. As a result, an increase in patient outcomes has been experienced. According to operational analysis, MRI has enhanced efficiency and viability as effective decisions are made in the organization.
- Blauwet, J., & Bell, M. (2018). Technologyʼs Role in Quality Improvement and Operational Efficiency. Frontiers Of Health Services Management, 34(3), 3-15. https://doi.org/10.1097/hap.0000000000000026
- Choyke, P. (2018). Quantitative MRI or Machine Learning for Prostate MRI: Which Should You Use?. Radiology, 289(1), 138-139. https://doi.org/10.1148/radiol.2018181304
- Khan, S., Ullah, N., Ahmed, I., Ahmad, I., & Mahsud, M. (2019). MRI Imaging, Comparison of MRI with other Modalities, Noise in MRI Images and Machine Learning Techniques for Noise Removal: A Review. Current Medical Imaging Formerly Current Medical Imaging Reviews, 15(3), 243-254. https://doi.org/10.2174/1573405614666180726124952