Healthcare Finance Group

Topics: Health care, Hospital, Urgent care Pages: 3 (781 words) Published: August 29, 2012
Erica Cook
Instructor: P. Okpala
Group Assignment: Unit 4 IP – Calculating Healthcare Formulas April 12, 2012

Staffing Requirements
Currently, my team of employees and I have been working on a bid project for the hospital’s chief financial officer (CFO). Together, we will develop a system to justify the full-time employees of our laboratory department. In view of these facts, our system will incorporate the number of hours a week the department will need to be staffed, how many full-time employees are necessary to operate the department, provide some detail of the services that will be offered, the revenue it is expected to generate over time, a day-to-day cost analysis to review their daily costs/expenses, and to effectively classify these costs/expenses accordingly to aid us in making excellent decisions regarding how these costs/expenses should be treated (Baker & Baker, 2011 p. 59).

In the health care industry, patients need care seven days a week and around the clock, twenty-four hours a day. As a result, these organizations are filled with employees who are committed to working forty plus hours a week (Baker & Baker, 2011 p. 95-98). In view of these facts, our laboratory department will operate with accordance to our hospital hours twenty-four a day/seven days a week to provide our patients with the services they need to get the proper care and diagnosis from their health care provider. In addition, the laboratory department will need an estimated fourteen full-time employees to effectively operate this department which has been accurately calculated using one of the full-time equivalent (FTE) formulas to justify the number of employees needed illustrated in the Chart 1. Clinical Positions (Full Time)| Shift One – 8hours| Shift Two – 8hours| Shift Three-8hours| 24 hrs. Total |  |  |  |  |  |

Pathologists| 2| 2| 1| 5 |
Laboratory Technicians| 2| 2| 2| 6|
Receptionist/ Office Worker| 1| 1| 1| 3|


References: Baker & Baker (2011) Health Care Finance Basic Tools for Nonfinancial Managers (3rd Ed.) Jones and Bartlett Publishers, LLC
Sutter Gould Medical Foundation (2008) Clinical Laboratory Department Retrieved: April 10, 2012 from:
Potthoff, E. (N.D.) Specialty Laboratory Testing Retrieved: April 10, 2012 from:
Web Finance (2012) Indirect Cost Retrieved: April 10, 2012 from:
Web Finance (2012) Direct Cost Retrieved: April 10, 2012 from:
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