Business Process and Systems Essay Example | Topics and Well Written Essays - 1000 words

Business Process and Systems - Essay Example In operation management, the management of the entire process relating to the production and marketing of the products or services are involved. The distribution management consists of the organising and control of the basic functions of product distribution in the market. In the old system adopted by the company, each crop is decided by the tenant and the business receives rent and a percentage of the profit. Certified organic products would help to gain the market with greater profit. Expansion of the business requires greater access to the market through considerable changes in the organisation structure. It is better to modify the production operation by giving clear cut planning relating to each of the organic farm products that has to be produced by each of the tenant. It will be more effective in production as the targeted quantity of each of the product type can be ensured. Inventory management: Too much inventory and lack of enough demand will generate great financial loss to the business. Maximising cash flows should be the aim of the business. To gain this, the inventory management system should be strengthened by shortening the forecasting time and analysis of the sales and demand data. Improved communication process is another essential factor for the efficient distribution process. Best practises of inventory management, with advanced technology tools, are helpful for improving the inventory management. Online distribution management system can be applied for improving the efficiency. It will facilitate the integration of factors such as customers, stocks, distribution and services in cost effective manner. Distribution chain starting from the vendors to the customers’ electronic distribution system can be applied. Supply chain management is greatly related to the co-ordination of different functions in the business such as procurement of materials from the farmers, co-ordination between different players in the

Read the Inland Bank AND the Cisco cases and identify the Essay

Read the Inland Bank AND the Cisco cases and identify the stakeholders. Analyze each case separately (write 2 separate one page) - Essay Example erest is being entrusted with a regular paycheck as a reward for her efforts and without ongoing efficiency and profitability at the bank, Amy would not be able to sustain a quality lifestyle. Regular, low-level employees of the bank are also stakeholders of the firm. With closures, they are out of jobs. This impacts lifestyle and the local economy (to a moderate degree). Neighborhood citizens additionally, are stakeholders for Inland National. With positive business operations in the community, it promotes taxation and resource allocation benefits to the city government that can be used for urban development projects. If the bank in the region is to be closed, it can cut off these revenues and cause even further collapse of the neighborhood infrastructure. The case is about the long-term impact of business decision-making on internal and external stakeholders. As the business attempts to secure its own interests, it has a trickle down affect on the neighborhood and employees, thus anyone who conducts business with the bank, works at the bank or relies on economic benefits of bank operations have real concerns. The 20,000 employees that would be working at the huge industrial complex owned by Cisco are primary stakeholders. Cisco’s successes and ability to create local business environments would be advantageous for locally-recruited employees and ensure they have a quality lifestyle provided by continued company profitability and competitive advantages. As primary stakeholders, it would be highly beneficial for the company to stay financially lucrative to avoid being outperformed by rival companies. Local citizens in the region are also stakeholders. They were concerned that this new development, without provision for employee housing, would drive up costs of accommodations in the city and cause problems with roadway congestion by dramatically increasing the local population with recruited employee populations. Their main interest was ensuring that local

The medical coding

The medical coding The Performance of Medical Coding What responsibilities are required in Medical Coding? How is Medical Coding beneficial in the healthcare industry? Herzing University (2009) says, â€Å"Medical Coding is the act of billing patients and health insurances for the medical checkup they received.† Medical Coding is one of the most valuable careers in the Healthcare industry. However, this profession requires important guidelines, such as assigning proper health-related codes, understanding coding language, and meeting the terms of the compliance rule. Moreover, as a productive benefit in this line of work, many employers allow medical coders to enter codes from home. The first rule that applies to Medical Coding is the importance of code assignments. After a patient is seen by a physician in an office or hospital room, the medical coders job is to assign the appropriate health diagnosis code on the claim form. The claim form is to be submitted to the patients insurance company for reimbursement purposes; claims are submitted to insurance companies so that doctors will be paid for the services rendered in the office as well. Upon submitting the claim form(s), it is important for the medical coder to assign the correct code(s) to ensure a timely payment process. If the code(s) are incorrect, this will cause the claim to be denied and payment will not be released until the issue is corrected. Herzing University (2009) comments that â€Å"Every medical diagnosis or procedure that is done in a medical office should have a health-related code assigned to it. The medical coder is accountable for assigning the correct code for each procedure that is per formed on a patient.† In addition, AHIMA (2009) predicts that â€Å"the excellence of medical services depend on if a medical coder assigns codes accurately and in a timely fashion.†   Ã‚  Ã‚  In Medical Coding, the first and foremost responsibility is to make certain that the payment reviews and funds flow effectively. Scichilone (2008) also points out that â€Å"the timely completion of assigned codes depends on the accuracy of the coding process.† Therefore, assigning proper codes for medical procedures are essential because it will guarantee timely payment to medical providers and their patients. Another rule that applies to Medical Coding is the understanding of coding language. Where does the resource of coding come from? Who maintains the health-related coding system? The American Health Information Management Association (2009) clarifies that â€Å"the resources for the health-related coding are maintained by a particular group of organizations. These groups are responsible for the updates and or changes for the coding process. The National Center for Health Services, is in charge of the ICD-9-CM codes, whereas, The American Medical Association is responsible for the CPT codes.† What is the coding language and why is it used in Medical Coding? In Medical Coding, an ICD-9-CM code is entered on a claim to code a patient†s diagnosis received from the physician. In addition, there may be more than one diagnostic code on a claim form. A CPT code is entered on a claim to code a procedure that was performed on the patient(s). There may be more that one procedure cod e entered on the claim form as well. For simplicity principle, the codes assigned convey what types of service(s) were provided and why the procedure was done. Rogoski (2004) adds that â€Å"[t]here are two major coding [organizations that are responsible for the coding language],..: the ICD-9-CM diagnosis and procedure codes that are maintained by the federal government, and the CPT procedure codes that are maintained by the American Medical Association.† For verification purposes, American Medical Association (2009) define the definition of the diagnosis code ICD-9-CM is â€Å"The International Classification of Diseases, Ninth Revision, Clinical Modification,† while (CDC, 2009) notes that the CPT procedure code means â€Å"Current Procedural Terminology.† The most important rule that applies to Medical Coding is the consistency of data entries. Being that coding information is updated on a quarterly and yearly basis by the health care organizations, it is important for the medical coder to enter the updated or revised codes accordingly. Entering the correct diagnosis and procedure code(s) is essential because the code(s) determine how and why reimbursement or payment is requested. During the coding process, it is imperative for the coder to obtain the up-to-date information on medical services covered by the patients insurance company to avoid questionable outcomes. In other words, the services that are covered under a carrier should match what is documented in the compliance guidelines and if the coding or documentation is not consistent with the specific guidelines, this can develop into an investigation and claim rejections. AHIMA (2009) contends that, â€Å"Entering the appropriate data according to the compliance rule is very im portant in the coding process. Whether the codes are entered correctly or not, it will in one way or another, affect both the quality of the statistics and the fulfillment to the regulations.† For that reason, to stay current with the array of coding rules, the Medical Coder should always consult with the healthcare guidelines upon entering the code(s) on a claim form ensure the quality of medical information. Furthermore, to ensure data consistency according to the compliance rule, meticulous medical coding software has been utilized to assist the medical coders during the coding process. â€Å"Computer-Assistance Coding† is how (Scichilone, 2009) describes the software. Even though coding can be complicated especially when trying to remember and stay up to date with guidelines, the use of medical coding software will promote thorough and affirmative results. Scichilone (2009) explains that â€Å"[t]hose little numbers or alpha-numeric [series] are one of the reasons the compliance [organization] exists.† The coding process is to note what type of medical service was provided and the reason for the office visit. To acquire efficiency, new software has been executed to help providers concerning data consistency guidelines. Medical coders can use this specific computer software to produce organized health codes for evaluation.† Not only does this medical coding software assist in positive reviews from the compliance group, it encourages moral standards as well. As an added guideline precaution, healthcare providers are should distribute the compliance rule list within its facilities to ensure proper and precise coding. The list should include a detailed medical coding policy that must be adhered by accordingly. One author (Stegman, 2009) notes that â€Å"[f]or many clinical areas with commonly provided services, very specific coding and billing guidelines exist to assist the provider in reporting accurate and honest claims Ideally, the provider should have a coding compliance policy document withthe following [factors]† Instructions on how to assign codes for new medical procedures; Instructions on how to correct inaccurate codes that were previously assigned; Code of conduct requirements linked to the Healthcare service provided, Annual or semi-annual training in Healthcare compliance guiding principles, Disciplinary steps taken if failure to comply with the guidelines occur, and Helpful contact phone number to seek out additional or unclear information.   Ã‚  Ã‚  Ã‚  Ã‚  In the Medical Coding position, these issues should provide helpful healthcare solutions when it comes to assigning medical codes for claim submission. By following these procedures, this will develop data quality within the healthcare environment because of the consistency assignment entries. Stegman (2008) agrees with these methods by saying that â€Å"coding experts are likely to sustain the importance of accurate and consistent coding traditions to deliver quality health care Medical coders should continue to improve their coding skills to stay current with the coding regulations The Medical Coder must maintain and follow the coding guidelines to avoid improper results with insurance companies and patients. If these compliance guidelines are not available by the provider, the medical coder(s) may have a difficult time assigning consistent codes. Stegman (2008) points out that â€Å"[w]hen coding challenges arise, and unresolved documentation inconsistencies are present, the selection of the most accurate and compliant codes may be more difficult, particularly if the codingstaff are not aware of the [moral coding standards].† If the preceding coding process for Medical Coding is carried out appropriately according to the compliance guidelines, this will ensure data excellence. Finally, while Medical Coding maintains specific guidelines to ensure effective results in the healthcare industry, many people are pursuing this type of work to take advantage of the flexible productive benefits. Many employers are allowing Medical Coding to be managed from home. To ensure that a Medical Coder generates efficient productivity from home, the â€Å"Computer-Assistance Coding† medical software that (Scichilone, 2009) described earlier, would be a very beneficial technology tool in the healthcare industry. Many health providers are providing its medical coders to work from home; working flexible hours and increase productivity are a couple of reasons why working from home is available. Flexible productivity (2004) states that â€Å"many healthcare corporations are engrossed with the productive benefits of flexibility working from home. By minimizing the demand of office space and reducing commuting time, the medical coder will gain flexible productive time and p ossibly get to manage their work-life obligations.† While the Medical Coder manages the medical software that was provided by their employer, on their home computer, the programmed software will generate assignment codes that are consistent with the compliance regulations. Scichilone (2009) says that the coding software will â€Å"increase productivity in code assignment [, provide] consistent application of reporting rules and guidelines [,] and monitor[the] evaluation features for coding accuracy reviews.† Consequently, utilizing the coding software will provide added advantages in Medical Coding. In conclusion, since Medical Coding requires specific guidelines for the healthcare industry to follow, it is imperative to abide by the compliance rules to avoid poor data standards. By entering accurate and thorough health-related data into the medical database, and obtaining a clear understanding of coding language and their resources, this cause of action will help the flow of the reimbursement process run effectively; as an added advantage, Medical Coding can be accomplished in the comfort of the medical coders home by way of compliance-ready medical software. References AHIMA About Medical Coding Medical Records: (2009). Coding. Retrieved November 26, 2009 from http://www.ahima.org/coding/index.asp AHIMA Medical Coding Guidelines:Data Quality and Compliance (2009). . Retrieved December 9 2009 from http://www.ahima.org/coding/compliance.asp AHIMA Medical Coding Resources (2009). Coding Resources. Retrieved December 7, 2009 from http://www.ahima.org/coding/coding_resources.asp AMA CPT Code Information and Education (2009). American medical association. Retrieved November 28, 2009 from http://www.ama-assn.org/ama/no-index/physician-resources/3884.shtml CDC ICD-9-CM International Classification of Diseases, Ninth Revision, Clinical Modification (2009). Centers for disease control and prevention. Retrieved November 26, 2009 from http://www.cdc.gov/nchs/icd/icd9cm.htm Flexible productivity.(2004). International Journal of Productivity and Performance Management,53(5/6),476-477. Retrieved November 30, 2009, from ABI/INFORM Global. (Document ID:695572871). Medical Billing and Insurance Coding Overview (2009). Herzing university online. Retrieved November 23, 2009 from http://www.herzingonline.edu/programs/medical-billing-and-insurance-coding Richard R Rogoski. (2004,September). If Youre Not Coding, Youre Not Billing.Health Management Technology,25(9),14, 16, 18. Retrieved December 7, 2009, from ABI/INFORM Complete. (Document ID:687678731). Scichilone,R.(2009,July). Are We There Yet? Compliance-Ready Computer-Assisted Coding.Journal of Health Care Compliance,11(4),55-56,69-70. Retrieved December 7, 2009, from ABI/INFORM Global. (Document ID:1822883141). Scichilone,R.(2008,July). Enhanced Compliance Results by Improving the Code Assignment Process.Journal of Health Care Compliance,10(4),61-64. Retrieved December 5, 2009, from ABI/INFORM Global. (Document ID:1670291831). Stegman,M..(2009,September). Managing Billing Interpretations in a Compliance Environment.Journal of Health Care Compliance,11(5),65-66,77-78. Retrieved December 7, 2009, from ABI/INFORM Global. (Document ID:1882772921).

Steven Kerr Essay -- Business, Creativity, Diversity

As Kerr is an educator and a professor in universities and not an economist, he examines his idea or creativity in the organization by making inquires starting from top management to the bottom in the organization and also to people who knew what the buyer or customer should be; then he would run it through his network in and outside GE to cross examination and double check or assessment (Davenport et al). Kerr’s successes effectively with the standing of ideas and creativity mainly rely on his continuing exploratory research with great creative thinking skills, expertise and motivation, and they also depend on his outstanding leadership and exceptional organizational culture of innovation in GE (Davenport et al, 2003). On the issue how to link his idea to his organization or business, Kerr simply collected and gained quick feedback and recommendation about how to present or make use of the idea or creativity to his sixty-five top executives in GE; he would assessed and examined his idea with his top management team first before link it to GE (Davenport et al). Davenport, Prusak & Wilson (2003) analyzed and claimed that getting instant comment or criticism is very critical and vital for a idea, as Kerr in his interview argued: â€Å"Gaining quick feedback and translating it into action and results is what advocating ideas is all about† (p. 207). In strategic planning, management must measure or evaluate the courses of idea and creativity or development and expansion to ensure they obtain the best and maximum returns from platforms (Davenport). In ideas and organizational management, feedback, criticism and suggestion not only could turn or develop into the guidance, objective and dire ction or target and focus of innova... ...resent diversity within the labor force and â€Å"each of them will also have networks of professional associates whose knowledge they can tap in order to solve problems and accomplish tasks. Needless-to-say, diverse people will have diverse networks and provide your company with a vast and diverse meta-network at your disposal† (p.1). In short, in supporting of creativity, innovators essentially need the backing from top leaders, and without that support, many initiatives may break down or die on the vine (Harvard). For any idea to be successful, it is vital that it is aligned with company strategy; there is more likely to occur naturally when top executives involve and take the lead with a idea or creativity initiative and this is a main reason why management commitment is a key factor in the accomplishment of any idea or innovation process (Baumgarther, 2010).

Challange Faced by University Students Essay

Education is the most important aspect of learning for every generation established in every mode. In university there are different field of studies with different years of each program. It is obvious that new students are going to face further challenges in university. In this case, these challenges could be the burden which can pull them out of the school without completing their studies. This essay will discuss these challenges in condition of financial, social, and academic. To begin with, financial problems are a major challenge for university students includes tuition fee, rent expenses, and text books. Tuition fee is the most common challenge for these students. Though, for some they only take one or two units per semester because of financial problems. The high costs of fee causes many problems for those who are not sponsored. Besides, fee expenses for each semester cost of thousands of dollars. So, tuition fee is a great burden for the unsponsored students. Furthermore, text books are the most essential property students must have in university. First year students also suffered in buying text books regarding to financial problem. Those who are not sponsored are suffered the most on the high cost of these books. Another challenge is that some of them have not enough money in a pocket. But in this case, such challenges can create lot of troubles in their minds throughout their time in the university. Moreover, rent is also a challenge for these students. These students might live in different hostels where some are cheap but isolated from the campus, and some are nearby the campus but expensive. It is better to live nearby the campus for new students to avoid troubles. However, they have problem with monthly rent where it is expensive but must be cleared. Another reason is based on a small amount of their allowance which cannot meet their expenses on rent and others. However, these financial challenges make them concern the most. Another major†¦ [continues]. Read full essay

Determinants of Capital Structure in Pakistan Essay

Capital structure refers to the combination of asset financing from different available sources. Normally the companies have two choices, either to finance the assets from internal source that is termed as retained earnings or from external source that splits into debt and equity. A firm’s capital structure is than the composition of its liabilities. In reality, capital structure of firms may be highly complex and consist of number of sources. These sources start from the retained earnings and ends in hybrid securities. The source of funding a capital is also diversified into short term and long term financing. Modigliani-Miller theorem The thinking of capital structure was initiated by the Modigliani-Miller theorem, proposed by Franco Modigliani and Merton miller. They made two findings under perfect market conditions. Their first proposition was that the value of a firm is independent of its capital structure and the second proposition stated that the cost of equity for a leverage firm is equal to the cost of equity for an un-leveraged firm with addition of premium for financial risk. They extended their analysis by including the effect of taxes and risky debt. Under a classical tax system, the tax deductibility of interest makes debt financing valuable. It means the increase in proportion of debt in capital decreases the cost of capital. And eventually the optimal structure would have no equity at all. Later on it was revealed that the imperfections of real world must be the cause of capital structure relevance to firm value. The trade-off and pecking order theory try to address some of these imperfections, by relaxing the M&M assumptions. Trade-off theory Trade-off theory adds another variable called financial distress in the previous studies and explains that although there is an advantage of debt financing and that reaps from the tax benefit shield. But a time come when the high debt give birth to bankruptcy cost and when the optimal level of capital structure is exceeded than the marginal benefit from the tax shield become less attractive than the cost of financial distress occurred due to debt financing. Therefore there exist an optimal debt and equity combination and companies should follow this optimal level of debt and capital ratio. This ratio is similar within one industry but may be different for different industries. The missing point of this theory is that it doesn’t explain the difference in the optimal capital structure ratio of the same industry. Pecking order theory Pecking order theory tries to capture the costs of asymmetric information. That means the managers of a company has more and complete information about the company than investors. The theory states that company’s priorities their financing sources and prefer internal source of funding to external. The hierarchy of sources is such that whenever company needs new funds it tries to fulfill its requirement first from retained earnings than from debt and raise equity as last resort. The pecking order theory is famous by Myers & Majluf(1984) when they argues that equity is a less preferred means to raise capital because when managers issue new equity, investors believe that managers think that the firm is overvalued and managers are taking advantage of this over-valuation. As a result, investors will place a lower value to the new equity issuance. The capital structuring plays vital role in the long run financial decisions of the company. In this paper my focus is on debt financing decisions of the company. I have explored why the companies use this source and what are the factors that determine company’s capital structure decision. The capital structure was firstly discussed by Modigliani & Miller in 1958. Modigliani & Miller (1958), the theorem states that, in a perfect market, how a firm is financed is irrelevant to its value. Gay B.  Hatfield (1994), demonstrated that the firms which issues debt are moving toward the industry average from below, the market will react more positively than when the firm is moving away from the industrial average on the basis of this they classified firms leverage ratios as being above or below their industry average before announcing a new debt issue. They test whether this has an effect on market return for share holders and they have founded that the relationship between a firm’s debt level and that of its industry does appear to be of concern to the market. Laurence Booth(2001), finds whether capital structure decisions differ significantly between developing and developed countries or not? He collected data of 10 developing countries by the international finance corporation and use panel data technique for comparative analysis. They found that the variables that are relevant for explaining capital structures in the United States and European countries are also relevant in developing countries. Jorgensen & Tera(2003), stated that there are many, industrial, accounting, managerial and macroeconomic factors that affect the capital structure decisions. They used sample data of capital structure determinants of 700 companies for the Latin American economies for the period 1986-2000. The study concluded that firms are impacted by company fundamental and macroeconomic forces. Deesomsak, Paudya, & Pescetto(2004), explore about capital structure for the Asian pacific countries. The countries discussed in their study are Malaysia, Singapore, Thailand and Australia. The study explores that environmental and operational factors affect the decisions made for capital structure. The study also investigates that financial crisis of 1997 also affect the capital structure organizations. Shah & Hijazi(2004), investigate the performance of non financial firms for the Pakistan perspective. The observed variables for capital structure are debt ratio, size, growth, leverage and profitability. The results show that there is a positive relationship between size and leverage. The growth is negatively correlated to leverage and the study finds consistent relationship between profitability and leverage. Shah & Khan(2007), investigate the relationship between firm fundamental factors and leverage ratios for the period of 1994 to 2002. They used pool regression model to achieve their purpose. The findings show that earning volatility and depreciation variable are not correlated to leverage ratio. The agency theory is lead by growth factor and pecking order theory bear out by profitability variable. The trade off theory is lead by firm’s size. Daskalakisa & Psillaki(2008), investigate the small and medium firms of Greek and French industries for the period of 1998 to 2002. The similar factors of the firms are used in this study because the same capital structure is employed in these two countries. There is a negative relationship among asset structure, profitability and leverage. The study finds that growth of France industry is statistically significant compare to Greek industry market. The study argues that there are firm specific differences among the countries non country factors. Psillak & Daskalakis(2009) studied small and medium size firm’s performance. The capital structure determinants are size, growth, profitability and risk. The results show that small and medium entrepreneurs affect the performance in a same way. The study explore there is a positive relationship between size and leverage and a negative relationship among growth, profitability and risk factors. Dilek Teker(2009), investigate the fundamentals of the capital structure theories, they assumed determinants can be related to find out whether some priori assumed macroeconomic determinants can be related to leverage parameters of interest or not. For this purpose, they conducted an empirical research that covers 42 selected firms traded at the Istanbul Stock Exchange ISE-100 index. Following the developments in the contemporaneous estimation techniques that allow us to use time series and cross section data concurrently, the panel data methodology has been applied to the actual data to compute the leverage ratios for each firm within the time period 2000-2007. From this, they highlight the issue of what properties the leverage ratios have and to satisfy our interest about how can the macroeconomic determinants affect the leverage ratios under various groupings such as tangibility, size, growth opportunities, profitability and non debt tax shields. Our main results return on assets and tangibility of assets have a positive and statistically significant impact on the firm’s leverage ratio, while the ratio of total depreciation to total assets and profit margin on sales seem to have some negative and significant impacts on Firms’ leverage degree. Tugba Bas(2009), worked on determinants of capital structure of small and medium enterprises in emerging markets. They used pooled data for 25 countries obtained from World Bank enterprises survey and applied panel data OLS technique for analysis. They found that tangibility is inversely related with leverage hence opposite for small firms. Profitability follows the pecking order theory and is also negative related. Firm size and GDP growth has positive relation with leverage. Inflation has negative impact on the leverage but interest rates pose positive relationship. Shun-Yu Chen(2011), the purpose of this paper is, to present empirical evidence on the determinants of capital structure and firm value in a newly industrialized country. The firm characteristics are analyzed as determinants of capital structure according to different explanatory theories. The findings of this study suggest that firm size, profitability and asset structure can be considered explanatory variables of capital structure. The firm size, profitability and capital structure affect book value. So the determinants of market value are profitability and firm size. Furthermore the capital structure negatively affects market value in electronic firms, but does not affect market value in non-electronic ones.