Cost Variance in Healthcare Organizations Research Paper

Cost Variance in Healthcare Organizations - Research Paper Example Like other healthcare organizations, the budget management in this healthcare organization is said to be underdeveloped. This is the reason why we have identified it for the analysis so that we can make possible recommendations. Strategies of Managing Budgets Within Forecast Managing budgets within forecasts is significant in revenue attainment and costs containment. However, ensuring that budgets remain within forecasts is not an easy task. Moreover, budget forecasts are not always accurate in terms of budgetary estimates they give. This makes designing of a strategic budgets management approach to be a necessity in healthcare organizations. In this healthcare organization, specific strategies exist for managing budgets within forecasts. These strategies vary both in their characteristics and in applicability. However, the majority of them are applicable in healthcare organizations like the one identified in this paper. One of the strategies that could be significant in managing bud gets within forecasts is the use of both quantitative and qualitative approaches during forecasting. According to Cole (2003), quantitative approach uses numeric data such as statistics and the accounting data to draw projections. Qualitative approach, on the other hand, uses explicit assumptions and individual judgments about the assumptions to draw conclusions (Cole, 2003). Combination of these two approaches, when looking for budget forecast estimates, assists in obtaining the most accurate and unbiased estimates. These estimates guide the actions taken to maintain the budget within the forecasts. As a result, the strategy could help in managing the budgets within forecasts. The interval which the forecast is based on is significant in obtaining accurate estimates from the forecast. Another strategy that could be adapted to manage budgets within forecasts is the use of small intervals when forecasting. The strategy can be implemented by use of a rolling forecast produced on a qua rterly basis to provide a full-year outlook (Dressler, 2004). An approach that uses short intervals like this one can promote obtaining of more accurate forecasts. Moreover, it can provide forecast estimates that could be obtained from within the large interval forecasts. This could greatly assist in managing budgets within forecasts, thus promoting operability of the organization. According to Cokins (2006), budgeting and financial planning are confusing to many organizations. As a result, many organizations in different industries find it difficult to integrate the two as organizational management. A strategy of employing budgeting together with financial planning in management of an organization is another strategy that could help in managing budgets within forecasts. Financial planning would assist in the drawing of accurate forecasts while budgeting would be assisting in maintaining the spending within the forecasts. However, for this to be achieved, these two aspects must be u sed in an integrated manner. Otherwise, they would not be able to supplement each other, thus failing to achieve their objectives. Expense Results With Budget Expectation Healthcare organizations have several expense results. Each of the results has its own budget expectation. Five of the most significant expense results of healthcare organizations such as the one identified in this paper are salary and wages expenses,

LAW Essay Example | Topics and Well Written Essays - 1000 words

LAW - Essay Example Balancing of an individual’s right to privacy with the media’s right to freedom of expression Domestic courts have adopted a two-stage test in attempting to balance the media’s right to freedom of expression and an individual’s right to privacy. In such cases, where there is a publication of private information, the court decides on two things. Firstly, is the information published private? Private in the sense that Article 8 protects it. If the answer is no, then the case concludes. If yes, the second query arises: must the interest of the holder of the private information or data yield to the right of freedom of expression granted on the publisher by Article 10? (DeCew 1997). Stage 1: Does (A) have a reasonable expectation of privacy in the relevant information? Key Domestic Case Law: Campbell v MGN Ltd [2004] 2 AC 457, HL The fundamental question in cases where there is an allegation of breach of information is whether the information disclosed is priva te and not public. There must be the presence of some interest of a personal nature that the claimant wishes to protect. In some cases, the answer to the question whether the information is public or private is obvious. ... This is because adequate protection was not afforded to her from publication of photographs taken without her consent or knowledge by paparazzi. Freedom of expression extends to publication of photographs, but the reputation and rights of others take importance as the photographs concerned images containing highly personal and or intimate information about an individual. In balancing articles 8 and 10, the contributions that the articles and photographs made to a public debate were the decisive factors. The public did not have a legitimate interest to know her private life. Everyone has a legitimate expectation for protection of his or her life. Therefore, article 8 had been violated (DeCew 1997).. Stage 2: Parallel Analysis In this analysis, neither article 8 or 10 has precedence over the other. If the values in both the articles are in conflict, intense focus on comparative importance of the rights in question is necessary. The justification for restricting or interfering with each right must be considered. In conclusion, there is the application of the proportionality test to each right (DeCew 1997).. Impact of the Contempt of Court Act 1981 on the freedom of the press Contempt of court is the unlawful interference of administration of justice. Contempt of court ensures that the court has the freedom to decide on matters before it, without influence from the press. Contempt of court is directed towards those in the media seeking to obstruct, interfere or undermine the administration of justice and the court. Breach of contempt of court can lead to a fine or imprisonment (Doherty 2003). The law of contempt places restrictions on the freedom of expression which is a crucial freedom to