Managing financial resources in health and social care

Managing Financial Resource s in Health and Social Care Plagiarism is presenting somebody else’s work as your own. It includes: copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort; copying another student’s coursework; stealing coursework from another student

Managing Financial Resources in Health and Social Care Assignment Brief – Managing Financial Resources in Health and Social Care

Programme

Unit Title: Managing Financial Resources in Health and Social Care

Student Name:

Edexcel BTEC Levels 4 and 5 Higher Nationals in Health and Social Care

Unit : 14

Student ID No.:

Unit Leaders: Internal Olusegun Ekisola The IV TEAM

Date Issued: Week beginning5thMay 2014 Date of final Submission:3rd Aug ust 2014 Verifier

Name:

Rules and regulations: Plagiarism is presenting somebody else’s work as your own. It includes: copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort; copying another student’s coursework; stealing coursework from another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the procedures set down by the College. Please see your student handbook for further details of what is / isn’t plagiarism.

Coursework Regulations 

Students are required to submit their coursework on-line through online e-learning system http://stponline.org.uk. Detailed information about this is available in the student handbook submission

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Details of submission procedures and penalty fees can be obtained from Academic Administration or the general student handbook.

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Late coursework will be accepted by Academic Administration Office and marked according to the guidelines given in your Student Handbook for this year.

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If you need an extension (even for one day) for a valid reason, you must request one, using a coursework extension request form available from the Academic Administration Office. Do not ask the lecturers responsible for the course - they are not authorised to award an extension. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick.

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General guidelines for submission of coursework:

1.

All work must be word-processed and must be of “good” standard.

2.

Document margins shall not be more than 2.5cm or less than 1.5cm

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Font size in the range of 11 to 14 points distributed to including headings and body text. Preferred typeface to be of a common standard such as Arial or Times New Roman for the main text.

4.

Any computer files generated such as programme code (software), graphic files that form part of the course work must be submitted either online with the documentation.

5.

The copy of the course work submitted may not be returned to you after marking and you are advised to have your personal copy for your reference.

6.

All work completed, including any software constructed may not be used for any purpose other than the purpose of intended study without prior written permission from St Patrick’s International College.

Outcomes and assessment requirements

Assignment title

Managing Financial Resources in the health and Social Care Organisations – CARETECH OLDING PLS

Learning Outcome (LO)

LO1 – TASK 1

Assessme nt Criteria

In this assessment you will have the opportunity to present evidence that shows you are able to:

1.1D2

Explain the principles of costing and

business control systems Understand how 1.2 systems are used to manage financial resources 1.3M1 in health and social care

2.1M3

Discuss the diverse sources of income that may be encountered in health and social care

the 2.2D1

Analyse the factors that may influence the availability of financial resources in health and social care organisations Review different types of budget expenditure in health and social care organisations

2.4

Evaluate how decisions about expenditure are made within a health or social care organisation

3.1D3

Explain how financial shortfalls can be managed

Understand the importance of 3.2M3 monitoring budget expenditure in health and social care organisations

LO4 – TASK 4

Explain the regulatory requirements for managing financial resources

1.4

planning in the management of 2.3 health and social care budgets LO3 – TASK 3

to

Evaluate systems for managing financial resources in a health or care organisation

LO2 – TASK 2 Understand role of

Identify information needed manage financial resources

Explain the actions to be taken in the event of suspected fraud

3.3D2

Evaluate budget monitoring arrangements in a health or social care organisation

4.1D3

Identify information required to make financial decisions relating to a health and social care service

Understand how systems and 4.2 processes for managing financial resources influence health 4.3M1 and social care services.

4.4D1 Learner declaration

Analyse the relationship between a health and social care service delivered, costs and expenditure Evaluate how financial considerations impact upon an individual using the health and social care service Suggest ways to improve the health and social care service through changes to financial systems and processes

I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date:

In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades Indicative Grade Descriptor characteristic/s

Contextualisation You will discuss at least three (3) financial considerations that affect and influence funding of care cost in a nursing and residential home(LO 4.3)

M1 Identify and apply strategies to find appropriate solutions

Make effective judgment on the impact of regulators on An effective the quality of care in the NHS; approach to study state at least two regulators and research has and explain their roles(LO been applied 1.3) To achieve M2, you will have to cite all references and sources of material used both for in-text citation and reference page.

M2 Select/design You will follow the Harvard and apply appropriate A range of sources referecing style through out methods/techniq of information has your assignment. ues been used M3 Present and communicate appropriate findings

Coherent, logical development of principles/concept for the intended audience

The answer should consist of the at least 2 subheadings fully explained: (i) The red flags of fraud (ii) Actions to take in the event of fraud(LO 3.2) Explain the meaning of tecchical terms and functions in the Health organsiation

(CCG, Capitation, Private equity) as you discuss the various sources of income for health and social care organisation (LO 2.1) You will explain and justify the various scheme proposed to improve the health care delivery by changes in the financial systems(LO 4.4)

D1 Use critical reflection to evaluate own work and justify valid conclusions

Conclusion arrived at through synthesis of You will discuss the factors that mostly affect and ideas &justicfied influence availability of resource and suggest how health and social organisation can use that to their advantage(LO2.2) You will demonstrate with diagram and table, the budget monitoring arrangement. You will need to provide clear link of the process(LO 3.3)

You will identify and explain the six NHS approve costing principles. State and explain the categories of cost (e.g Fixed/Variable; Direct/Indirect) D2 Take responsibility for The importance of and costing concept (cost centre, cost object and cost managing and interdependence organising recognised and unit(LO 1.1) activities achieved D3 Demonstrate Innovation/Creative convergent/later thought have been al/ creative applied thinking

Review the financial statements (Balance sheet & Profit and loss) and draw out at least seven types of information needed to make decision in CareTech(LO 4.1) You need to present the best practice in the health sector in managing financial shortfall. A reference should

be made to an innocative way used in the NSH(LO 3.1)

Assignment brief

Assignment title

Managing Financial Resources in the health and Social Care Organisations – CARETECH HOLDING PLS

Purpose of this assignment The health and social act 2012requires healthpractionals and social care managers to be more innovate, more productive and more accountable while delivering the NHS, Adult Social care and Public health outcomes (quality, safety and patient experience) By carring out this assignment learners will be equipped with the knowledge and understanding needed to monitor costs, make predictions, evaluate the process of effective control of resource allocation, including shortfalls, and make recommendations expenditure in health and social care organisation

for

Scenario You are one of the home managers for CareTech Holdings PLC, a leading UK provider of specialist social care services. You have been invited to present a report to the Directors of the company, MONITORNHS and some CCG representatives as part of government review and monitoring of your care home

This report is aimed to demonstrate your understanding and knowledge in Planning and managing budget in your home, it will show your skills in resource control and managing shortfall with your ability to make prediction and make recommendation for the future expenditure in CareTech Holding PLC

Your report should cover and incorporate all the task and learning outcomes below (3,000 words)

You should refer to the assessment criteria and the relevant unit content, when preparing your evidence of assessment.

You can access the Annual report of CareTech Holdings PLC for 2013 at:

http://www.caretech-uk.com/~/media/Files/C/Caretech-UK/pressrelease/pr-2013/2013-preliminary-results.pdf

or the condenced version of the annual report on STP online; Assignment Folder section Learning outcome 1(1.1,1.2,1.3,1.4)M1, D2

1.1 Explain the principles of costing and business control systems that may be adopted in CareTech Holding PLC.D2 1.2 What were the information needed to manage financial resource forCareTechHolding PLCin 2013 financial ending?

1.3 What regulatory requirements need to be satisfied while managing financial resources in CareThech Holding PLC? M1 1.4 Evaluate the systems for managing financial resources in CareTech Holding PLC ?

Learning outcome 2(LO 2.1, 2.2, 2.3, 2.4)M3 and D1

2.1 What are the diverse sources of income avaialabe to CareTech PLC in the financial year in 2013?M3

2.2 Analyse the factors that may influence the availability of financial resources in CareTech PLC? D1 2.3

Review different types of budget expenditure in CareTech PLC.

2.4 Evaluate how decisions about expenditure could be made in CareTech PLC Learning outcome 3(LO 3.1, 3.2, 3.3)M3, D2 and D3

3.1 Assuming there was financial shortfall in CareTech PLC; explain how this situation could be managed? D3 3.2 What action you would take if you suspect occurrence of financial fraud in your organisation?M3 3.3

Evaluate budget monitoring arrangements in CareTech PLC.D2

Learning outcome 4 (LO 4.1, 4.2, 4.3, 4.4)M1, D1, and D3

4.1 Identify information required to make financial decisions relating to CareTech PLCD3 4.2 Analyse the relationship between care service delivered and ‘costs and expenditure’.

4.3 Evaluate how financial considerations impact upon a service user. M1 4.4 Suggest ways to improve the care service provided by CareTech PLC through changes to its financial systems and processes.D1