Planning & Budgeting

Planning & Budgeting

Introduction

The main purpose of this paper is to choose a healthcare organization and discuss that how time value analysis is helpful for the company in making management decisions. The health care organization which has been chosen for this purpose is Alameda Hospital. Alameda hospital is located in California. The hospital provides the general and surgical facilities to the patients. The hospital is incorporated with 131 beds. According to the data retrieved from latest survey, the number of patients visiting the emergency room of hospital is 17, 590. The hospital is interested in providing the quality care to its patients; therefore, the hospital adopts various methods which could be helpful for the patients are getting the quality care. Alameda Hospital also uses the time value analysis which is very helpful for the hospital in taking its management decisions.

Discussion

The time value management is a very important tool which helps the companies in making the decisions about the management issues. The time value management is playing a key role in bringing development in healthcare sector since last few years. The healthcare industry has faced radical changes in past few years due to the implementation of time value management. Alameda hospital is also adopting the time value management in order to bring advancements in the decision making sector. The time value analysis plays a significant role in making the organizational decisions (Abba, 2010). The implementation of time value analysis had been very helpful for moving the Alameda hospital towards success and enabled the company take the key decisions in the areas of products, services and technology decision making. There are various healthcare organizations that have reached to the exceptional quality performance stage by implementing the time value analysis in it. The maturity of time value management helps the Alameda hospital to take the performance of the organization to the level of maturity due to the successful use of time value analysis (Alvarado, 2004). Thus, it can be very beneficial for the organizations if it is taken in the appropriate manner.

According to the latest survey conducted by Svah, there are almost 80% healthcare organizations which are using the time value analysis in terms of taking the timely decision making about the management issues. The proper time value management also helps the company in managing and controlling the expenses other than the salary expenses. This is a very helpful approach for the company in managing the supply chain expenses of the company as well. Thus, time value analysis plays a key role for the company in managing culture and organizational aspects of the company, thus bringing improvements in the culture of the company. The time value analysis also helps the Alameda Hospital to take the timely decisions about the organizational management (Al-Jibouri, 2003). The time value analysis helps Alameda hospital to evaluate the technology and services aspects. The time value analysis is the best measure used by Alameda hospital in taking key decisions about the investment and financial aspects of the ...