Application of Modern Management Techniques in Healthcare

Somu, G (2011) Application of Modern Management Techniques in Healthcare. The Internet Journal of Healthcare Administration, 7 (1).

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Abstract

Health is the right of every individual and its awareness is a must to all citizens of the country. In an era of cost-intensive medical care, every equipment being installed in health care institutions need to be fully and properly utilized. Administrators of a hospital must select the method that can be used to greatest advantage, bearing in mind the original expenses and the cost of maintenance. Use of liquid medical oxygen (LOX) at hospitals has become increasingly common in the present day situation chiefly due to economic considerations as also promising intangible benefits. Use of modern management techniques in the medical field is relatively a recent development and can aid in future cost containment. Cost benefit analysis is formal analytical method to provide a rational, objective means of comparing total costs with total benefits. The Aim of the study: To study the cost benefit analysis (CBA) in using liquid medical oxygen (LOX) as against oxygen concentrators and oxygen manifold system at a large tertiary care hospital. The Objectives included, (1).To study the cost incurred in maintaining the oxygen concentrators and the manifold system as against LOX. (2). Assess the tangible & intangible benefits in use of liquid medical oxygen. Methodology: The methodology adopted was a retrospective study for a period of six months compared against a prospective six month study in the same time of the year. Use of liquid medical oxygen ensures quality in delivery of patient care. Results: The study revealed that with the use of liquid oxygen there is 26.6% reduction in volume of medical oxygen consumption along with a 38% saving in overall costs, realized due to its usage. It can also be inferred that an increase in the utilization of liquid medical oxygen can lead to increase percentage of savings on costs. Limitations: In arriving at the expenditure incurred in the usage of oxygen concentrators and manifold, it was unable to arrive at the exact number of electrical units consumed by the same due to absence of an electrical meter; however the units are calculated based on the motor power.

Item Type: Article
Uncontrolled Keywords: Liquid medical oxygen, Cost-benefit analysis, Savings, Intangible benefits
Subjects: Medicine > KMC Manipal > Hospital Administration
Depositing User: KMC Manipal
Date Deposited: 18 Jul 2011 03:55
Last Modified: 18 Jul 2011 03:55
URI: http://eprints.manipal.edu/id/eprint/775

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