Financial Management, Quality and Marketing Aspects of Kosair Children's Hospital – Health System Example

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"Financial Management, Quality and Marketing Aspects of Kosair Children's Hospital" is an engrossing example of a paper on the health system. Organization finances The foundation relies on various sources for its various programs. Donations from individuals, business, grants from other Non-Government Organizations and has been a beneficiary in a number of wills Financial summary Below is the organization’ s annual summary report 2011 figures. Total Net Assets 69,247,712 Total Revenue 11,025,903 Total Operating Expenses 5,997,283 Change in net assets 5,028,620 Net Investment activity 5,830,223 The total increase in net assets 10,858,843 Other philanthropic support paid directly 5,730,340 Total philanthropic support for Kosair children’ s Hospital 16,756,243   It is clear from the figures above that the organization can meet its expenses from the various sources of funding The organization's assets are significant.

This shows future prosperity and the extension of the organization. These financials also show an increase of the assets, and so further solidifying the prospects of the organization. Reimbursement of Kosair Children’ s Hospital Methods of Funding Kosair children’ s hospital relies on a number of ways to maintain their various programs. These are; Online donation service. Here, people can make their donations via secured electronic banking means. Corporate social responsibilities of various businesses within the country have put Kosair children’ s hospital as a beneficiary. Item donation to the hospital and auction of different items generates income to the organization Kosair has organized various fundraising groups whereby people join and help in the fundraising process The organization has provided a resource for patients to create their own fundraising page. In general, Kosair has an organized charity circle that recognizes various long term donors.

These circles as so outline are as follows; Red Wagon Hall of Fame, these are the highest donors in any year, Wade Mountz Heritage Society, Circle of innovation, the circle of progress, Mary Lafon circle, the circle of life, president’ s circle, the circle of care, the circle of miracle among others. This clearly shows that the organization will execute various programs without the risk of the financial crisis.       Research Issues Quality and Ethics The organizations lay emphasis on the quality aspects of research done.

Ethics revolving key program research such as clinical trials from various pediatric drugs must follow the predefined code of conduct. There exists an Ethics review board within the hospital that sees to it the adherence of ethical conduct in research undertaken. Thus, protecting the quality of research. Accreditation Norton healthcare system recognizes Kosair Children’ s hospital.

It is one of the largest healthcare systems in Kentucky. A number of its programs have received national accreditation. These include the cardiology program, the pulmonology program amongst other programs. These accreditations add credibility to the quality of service provided. Awards Kosair children's hospital programs have secured various awards in the US and Worldwide with the hospital rated among the top 50 best children’ s hospitals in the country. The cancer program is among the top 20 best programs in the country.

The nursing program received the esteemed Magnet designation owing to its high standards. The pulmonary care program is also highly rated. Regulation A number of bodies regulate various research. These are the Ethics Review Board, organization management, and the Norton health care system. This minimizes risks such as patient rights’ abuse due to the controlled environment. Ethical issues surrounding care provision Kosair children’ s hospital focuses on primary care to the pediatric age group. It provides a variety of services such as child advocacy, child safety, and nursing and maternal-fetal medicine facilities among other numerous services.

It is clear that the main beneficiaries are the pediatric age. Maternal care can be provided so long as it is tied to the overall good of the child. Critiques could argue that with this level of the facility and specialty, Kosair children’ s hospital should at least consider providing services to the adult age group. At least in the outpatient setting. The organization on the part may not take this as feasible, citing, resource restriction with regards to the doctors at their disposal. Marketing Strategies Strategies Internet marketing has been on the four front of the marketing strategies Kosair uses.

This includes the use of the website; http: //www. kosairchildrens. com. Electronic mailing. Social media marketing in various networking sites such as Facebook, and Twitter. How effective this strategy is can be analyzed by observing traffic at the website and the various social networking sites. It has recorded over 35,000 likes on Facebook. It has over 2000 followers on Twitter. The statistics show the extent of people's interest in the organization. This is remarkable for a non-profit making organization. Thus, an internet marketing strategy is effective for this organization. Branding Kosair has introduced various information systems to better their service to the community in general.

It has introduced an app for parents to keep track of their children’ s health information It has clearly defined various donors into circles that are specific to the organization and better sees the recognition of donors It has also introduced newer programs such as pastoral care. The organization has decentralized various activities in their various branches which are; St. Mathews, DuPont, Bowling Green, Frankfort, Owensboro, and Paducah These strategies show the organization's progress with regard to the branding of its various programs.

It has been so far successful. Community and Employee involvement Community involvement The organization has relied heavily on community participation in its programs. This is as so; Introduction of the Coping Club for kids. Here, healthy children join and do activities that support sick children. There are education blogs that the organization uses to promote awareness and involve the general public. Kosair has created various apps that also involve the general public. This includes the parenting app, different kid apps among other apps. Through these applications, the community participates in the organization’ s programs. Last, social media, where strong community participation occurs. Thus, community involvement has been a cornerstone to the organization, without which many programs run by the organization would have stalled. Employee involvement Kosair has managed to provide quality service to the community through its well-organized specialists.

The doctors and nurses have seen the organization through various programs. These specialists have made it possible for the organization to establish newer programs. We can say that their involvement has been critical to organizational success.

References

Kosair Children’s Hospital; Children’s Hospital Annual Financial Report, (2011). Louisville, Kentucky

Greenhouse, Steven; Bid to Organize Nurses Faces Setback in Congress. New York Times. (2009-04-20)

Norton Healthcare; Listings of accredited hospitals. (2012). Louisville.

Yahoo Finance; Article on Kosair Children’s Hospital Non-Invasive Cardiology receives National accreditation. (2012 – 13 -11). Press Release, Louisville, Kentucky. http://finance.yahoo.com/news/kosair-children-hospital-non-invasive-202100178.html

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