Edexcel BTEC Levels 4 and 5 Higher Nationals in Health and Social Care- Managing Financial .DOCX

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

Purpose of this assignmentThe health and social act 2012 requires health practitioner and social care managers to be more innovative, 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 for expenditure in health and social care organisation
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, MONITOR-NHS 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 (4,000 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/press-release/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)


1.1 Explain the principles of costing and business control systems that may be adopted in CareTech Holding PLC.
1.2 Identify the information needed to manage financial resource for CareTech Holding PLC in 2013 financial ending?
1.3 Explain the regulatory requirements need to be satisfied while managing financial resources in CareThech Holding PLC?
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)


2.1 Discuss the diverse sources of income avaialabe to CareTech PLC in the financial year in 2013?
2.2 Analyse the factors that may influence the availability of financial resources in CareTech PLC?
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)


3.1 Assuming there was financial shortfall in CareTech PLC; explain how this situation could be managed?
3.2 Explain what action you would take if you suspect occurrence of financial fraud in your organisation?
3.3 Evaluate budget monitoring arrangements in CareTech PLC.
Learning outcome 4 (LO 4.1, 4.2, 4.3, 4.4)


4.1 Identify information required to make financial decisions relating to CareTech PLC
4.2 Analyse the relationship between care service delivered and ‘costs and expenditure’.
4.3 Evaluate how financial considerations impact upon a service user.
4.4 Suggest ways to improve the care service provided by CareTech PLC through changes to its financial systems and processes.





Unit content



1 Understand how systems are used to manage financial resources in health and social care

Costing and business control systems: costs, income, cost-benefit analysis, expenditure, budget, capital, cost control, cost centre; outsourcing, competitive tendering, forecasting, profit, break even; basic software for monitoring financial information within an organisation

Information: business costs eg people, equipment, finance, buildings, consumable items, administration; income streams; trends and external influences eg changes in policy, competitive factors, legal requirements

Regulatory requirements: legislation and codes of practice, audit, accountability, policies

Systems: sources of income, how budgets are set, administration of budgets, cost centres, accountabilities, audit requirements


2 Understand the role of planning in the management of health and social care budgets

Diverse sources of income: public, private, voluntary; local, national

Influences on resource availability: funding priorities, agency objectives and policies, private finance, outsourcing, inter-agency partnerships, government policies, geography, type of service

Types of budget: cost centre, project management, outsourcing contract

Decisions about expenditure: environmental analysis, accountabilities, priorities, short-, medium- and long-term planning; cost-benefit analysis; financial risk, project management


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

Information for monitoring expenditure: cash flow, controlling costs, spreadsheet data, training needs

Financial shortfalls: priorities, virement, reserve funds, alternative external income sources;
implications for individuals within the service

Suspected fraud: analysing financial information for reliability, validity and sufficiency;
reporting, evidence of fraud


4 Understand how systems and processes for managing financial resources influence health and social care services

Financial decisions: responsibility for decision making, information available, sources of income, priorities etc

Relationship between service delivery, costs and expenditure: cost-benefit, pricing policies, purchasing arrangements

Impact on individuals: quality of service, access to service

Recommendations: options available, supporting evidence, information to be presented for discussion by financial decision makers

Powered by