Abstract The paper explores effective management for mental healthcare. It looks at cost-containment strategies, such as high co-payments and no cost-coverage for specialist visits regarding mental health. It then moves on to look at the role of alternative therapies in mental healthcare. It concludes with listing the benefits of introducing a standardizing organization for mental healthcare in the USA.
From the Paper "In a managed mental health care system, the unnecessary utilization of equipment and accessories is restricted at the care provider stage. This is done by a chain of monetary incentives and by directly managing the care proceeds. For instance, managed mental health care decreases cost comparatively by changing the treatment setup from inpatient to outpatient, settling the fee of professionals and hospital at discounted rates, and applying methods of utilization management to control unnecessary services. In this manner, the unnecessary utilization which is a moral hazard and also incurs high costs, is eradicate at the starting place, on a case to case basis (U.S. Public Health Service)."
Abstract The paper utilizes the example of a car dealership in order to analyze how rising health insurance costs can influence managerial decisions. The paper shows how cutting costs in a high-turnover, sales-dependent business could undermine productivity and harm the firm's bottom line. The paper reveals that the end result could be lost sales, enhanced training costs, and under-utilized overhead that collectively present a price tag exponentially higher than what is saved on health insurance.
Outline:
A Look at the Health Insurance Problem
The Revenue Cost of Unfilled Positions
Maximizing Overhead
Conclusion
From the Paper "Rising health insurance costs are creating significant hardship for many American businesses, and present unique challenges from the perspective of managerial economics. When making business decisions and planning budgets, managers must remain mindful of the fact that health insurance costs are escalating and are predicted to keep rising. These costs can provide a direct hit on a firm's overall profitability, and, unlike other expenses experienced by a firm, they are a straight money-out proposition. Health insurance costs are not like a capital investment, such as a piece of equipment, where the money a firm spends will be returned several times over as the equipment is utilized in business operations. When a company experiences a stiff hike in its insurance rates from one year to the next -- simply to maintain the current level of coverage offered to employees -- it is a pure impediment to profitability that can not be turned around to produce revenue."
Abstract This paper presents a statistical analysis of media coverage of Barak Obama using the 'Newsweek' magazine as the media source. The paper relates that the analysis uses 10 weeks of issues spanning from September 22, 2008 thru November 24, 2008. The paper further relates that all of the information in the tables is from the magazine, which is the primary source for the analysis. The information is presented in the form of statistical tables in order to provide a clear and concise account of the coverage pertaining to Barack Obama and the election.
From the Paper As of October 13, 2008, the Obama campaign had shattered all fund-raising records, raking in $458 million, with about half of that coming from donors who contribute $200 or less" (Isikoff, 2008). In Ohio alone, he had 1400 neighborhood teams that had been recruited, trained, and managed for the six months leading up to election day (Thomas, 2008). Ultimately, his campaign had over "3.1 million contributors, million volunteers, 2.2 million supporters on his main Face book page, 800,000 on his MySpace page and perhaps a million or more names on Obama's own campaign Web site" (Fineman, 2008).
There were 3 presidential debates and one vice-presidential debate. The first debate was on October 2, 2008, and was supposed to focus on foreign policy. However, the economic crisis became a topic of discussion and in the end, the press scored McCain as winning the debate but the public proclaimed Obama the victor. The second debate was on October 7, 2008, and was fashioned to represent a town-hall style forum. Obama was proclaimed the victor of that debate as well, and fortunate for his campaign, the Dow dropped 500 points that evening.
Abstract This paper considers the relatively new costing model called activity-based costing, developed in the 1980s and then refined through use by various organizations since. This approach is designed to focus attention on the causes behind indirect costs. The ABC system is directed largely at the issue of allocation, placing an emphasis on activities rather than traditional organizational departments as a way of isolating the causes of costs, or the factors that are most likely to cause or contribute to the accumulation of costs.
From the Paper "Activity Based Costing (ABC) was developed in the 1980s and has been refined through use by various organizations since. This approach is designed to focus attention on the causes behind indirect costs. The ABC system is directed largely at the issue of allocation, placing an emphasis on activities rather than traditional organizational departments as a way of isolating the causes of costs, or the factors that are most likely to cause or contribute to the accumulation of costs (Lewis, 1993, 12). The elements of this system can be applied to the working of a given business to help identify what may be driving costs upward. ABC can also be described as "a costing model that identifies the cost pools, or activity centers, in an organization and assigns costs to products and services (cost drivers) based on the number of events or transactions involved in the process of providing a product or..."
Abstract The paper explains that activity-based costing (ABC) allows accountants to obtain a more precise view of the costs associated with specific products or services. This paper uses a case analysis to explore how ABC can help to achieve greater cost effectiveness in the healthcare industry. The paper concludes that although ABC can play an important role in reducing healthcare costs, little can be done to reduce direct costs associated with a procedure without a sacrifice of patient safety.
Outline:
Introduction
Objective of the paper
Analysis, Findings & Discussion
Suggestions, Recommendations & Conclusions
From the Paper "Activity-Based Costing (ABC) allocates the costs of production to specific products or services. It is more precise than older methods of accounting that involved adding a broad percentage of expenditures to direct and indirect costs. The definitions of direct and indirect costs varied and were often a judgement call on the part of the accountant. ABC allowed accountants to obtain a more precise view of the costs associated with specific products or services."
An overview of the methods of applying the "activity-based costing system" at Dakota Office Supply, in which actual costs associated with each product are established.
Abstract The paper discusses, in a detailed description, the effectiveness of an activity-based costing system or ABC and the ineffectiveness of the current costing system in use at the Dakota Office Supply (DOS) company . The paper then relates the methodology of implementing ABC at DOS and the procedures involved in its application.
Outline:
Overview
Situational analysis
Activity based costing ABC in practice at Dakota
Procedural steps of ABC
From the Paper "Before performing ABC, a baseline or a starting point is needed for business process improvement and a baseline can be expressed in some form of model. This baseline is critical for DOP because in order to establish this baseline metric the analytics just performed must be done for each individual account. If DOP performs this activity on each customer the strategic management benefits would be substantial because all the excess cost-drivers could be eliminated resulting in much wider operating margins and thus profitability without increasing costs or committing resources to gain this efficiency. Therefore, a baseline is a documentation of the organization's policies, practices, methods, measures, costs and their interrelationships at a particular location at a particular point in time (Maiga & Jacobs, 2003). Through base-lining, activity inputs and outputs across functional lines of business can be identified. ABC is the only improvement methodology that provides output or unit costs. Value added activities are those for which the customers are usually willing to pay in some fashion for the product or service. Non-value added are activities that create waste, result in a delay of some sort, and potentially adds costs to the products or services. Resources are assigned to activities so that the activities can be performed in the first place. Some of Pilgrims' resources are measured in man-hours, machine hours as well as machine maintenance and operational overhead. It is through ABC that an organization can begin to see actual dollar costs against individual activities, and find opportunities to streamline or reduce those costs, or even eliminate the entire activity thus removing the cost altogether. This is the process inherent in ABC that reduces overall expenditures of the company. "
Discusses a costing system proposed for a computer hardware manufacturer who is also going to develop computer software to be sold along with the hardware.
Abstract This paper first recommends a costing system and then states how variances from budget would be identified. It further goes to state how the budgets for the cost centers should be set. Then it mentions some possible sources of funds for financing the project and, in conclusion, mentions how the financial ratios of the company will be affected.
Method of costing How variances can be identified
Method of budgeting
Sources of finance
Effect on ratios
Comparison with system in operation
From the Paper "There are many methods of costing that could be applied to this scenario. The current system in place is absorption costing. This is a very traditional approach, in which it is assumed that the total overhead expenses of the company are related in some way to the number of labour hours or machine hours used. In this case, all the overheads are allocated on one basis. If labour hours are used, then it the total overhead amount is divided by the total labour hours expected, and then the amount of overhead is allocated to each product based on the total amount of labour hours it uses."
Abstract The following discussion will focus on problems with cost-benefit analysis in the context of natural resource policy and development. In order to achieve this goal certain fundamental premises must be outlined and accepted. The cost/benefit approach to natural resources holds that natural resources-from clean water to sub-surface minerals-are commodities that ultimately have a value. It also asserts that economic theories and principles can, therefore, be applied to decisions relating to the disposition of natural resources. As a consequence of these first two premises it does not accept any moral arguments: Notably those that assert that conservation is morally superior to extraction or development as costs and benefits cannot be quantified in this paradigm.
Abstract This paper examines activity based costing (ABC) which is an effective business management tool that will enhance and support a total quality management (TQM) environment. ABC analysis provides the information necessary to make business decisions such as determining if investments in efficiency initiatives, such as just in time (JIT), are warranted. When implementing ABC, management should use proven project management methodology to minimize the risk of failure. ABC is an effective total quality management tool, and supports just-in-time manufacturing methods in several companies as detailed in the paper.
From the Paper "After developing ABC in the 1980?s, Robin Cooper and Robert S. Kaplan have written extensively about its benefits (Shih-Jen & Holinda, p. 46). ABC is defined as a "costing system that identifies the various activities performed in a firm and uses multiple cost drivers"to assign overhead (or indirect costs) to products? (Siegel and Shim 2000, p. 15). ABC seeks to accumulate and allocate factory overhead costs to products (or services) by using focused drivers, such as, quality inspecting, moving, assembly, and matching (Warren, 2002, p. 328). Proponents of ABC cite many examples where cost accuracy is superior to traditional costing methods that use cost bases such as units produced, labor, or machine hours used (Warren, p. 421). "
Abstract This paper analyzes and argues that activity based costing is most appropriate for assigning costs to products for all types of organizations.
Abstract This paper presents an assessment of the economics of health care costs. The paper argues that the problem is a complex maze of related issues such as funding mechanisms, delivery structures and individual responsibility. Additionally, the paper recommends a national health care system for managing family health care costs that is based on universal access to health care.
From the Paper "Health care economics is entering another state of turmoil in the United States as the moderating effects of the managed care concept on increasing health care costs appears to have run its course. The Congress and state governments believed the promises of managed care proponents that managed care would lower health care costs dramatically and are resisting rapid increases in health care costs. Managed care companies are responding by dropping governmentally-funded patient groups including Medicare and Medicaid raising charges to..."
Abstract This paper briefly describes how one company can use cost allocation procedures. It also shows a schedule with comparison to determine what level of growth can be expected for the future which is part of the cost allocations process.
From the Paper "All companies have a desire to know where and how much they are spending. Of course the outflow of cash for the valuation of costs is directly incurred by cost centers, divisions or areas that have regular costs for doing business. For example a doctor's office may allocate a cost to each patient visit. However in real world business this is not practical and in the case of IBM they have allocated in general terms on the basis of departmental sales. IBM is a leader in the information technologies industry and as such has spent many years trying to maintain its position and advance in the industry (IBM, 2005). By reviewing the statements of earnings for IBM (year 2004 and 2003) on the following page, we can easily see which areas have assessed costs and how much that costs was in actual dollars. "
Abstract This paper discusses the issue of rising health care costs in the United States, and relates the issue to the government, business, and health care industries. The paper further looks into these organization's roles in halting rising health care costs, and discusses professional opinions in relation to the matter. The addition of technology and its affects on health care are also discussed.
From the Paper "In the United States there are many poor, aging, and young who have traditionally been without health insurance due to the rising costs associated with care. When society considers those entities that should play a significant role in reducing health care costs the organizational elements of government, industry, and health care providers them selves are logical considerations. Yet, while the United States patiently waits for some type of health care cost relief there does not appear to be any notable action being taken to reduce these costs. During the December 2002 online discussion posted on NewsHour, with Jim Lehrer, the issue of health care costs was discussed in relation to insurance providers, hospitals, and health care workers. Lehrer spoke with many professionals in these organizations, and discovered that there are primary causes for the rise in health care costs in the United States. "
Abstract This essay determines the total production cost of a given situation and answers how the technique could be used in decision making of leisure centers or hotels.
