Ask a Question

Express Healthcare‘s interactive FAQ section titled – ‘Ask A Question’ addresses reader queries related to hospital planning and management. Industry expert Tarun Katiyar, Principal Consultant, Hospaccx India Systems, through his sound knowledge and experience, shares his insights and provide practical solutions to questions directed by Express Healthcare readers

Question: What is the importance of feasibility study?
– Dr Vishal, Virar

Answer: As the name indicates, a feasibility study is an analysis of the viability of an idea. The study focuses on answering the essential question of should we proceed with the proposed project idea? It can be used in many ways but primarily focuses on proposed business ventures. A feasible business venture is one where the business will generate adequate cash flow and profits, withstand the risks it will encounter, remain viable in the long term and meet the goals of the founders.

Question: What is green building concept?
– Leela, Pune

Answer: Green building refers to a structure built using a process that is environmentally responsible and resource-efficient throughout a building’s life-cycle: from sitting to design, construction, operation, maintenance, renovation, and demolition. In other words, green building design involves finding the balance between home-building and sustainable environment. This requires close cooperation of the design team, architects, engineers, and the client at all project stages.

Question: How can you define the job description of a manager accountant of a hospital?
– Swati N, Karnataka

Answer: The job description of a manager accountant of a hospital is:

• Developing, implementing and maintaining general accounting systems and controls, supervising and participating in the review and analysis of accounting records.
• Assisting in the preparation of detailed financial plans by analysing and evaluating statistical and financial data and preparing budgets within projected patient levels, proposed staffing requirements and projected operating costs.
• Defining the accounting requirements for incorporation into the patient accounting system, fiscal and statistical information system and other medical centre accounting systems.
• Analysing data and proposing methods for tracking and reporting financial information to various external agencies.
• Preparing financial reports including cost reimbursement plans for insurance providers, preparing reports of hospitals fund activities to meet County requirements.
• Planning, assigning, and reviewing the work of subordinate accountants and clerical personnel, training and evaluating personnel.
• Preparing and publishing monthly financial statements including Balance Sheet, Statement of Revenue and Expenses, and Statement of Cash Flow.
• Preparing intergovernmental transfers to the state, billing state for government programmes.
• Preparing and filing hospital surveys for Public Health Agencies and economic bureaus.

Question: What is petty cash and its policy?
– Dr. Shah, Surat

Answer: Petty cash funds are used for expenditures in connection with approved hospital activities. The amount and significance of petty cash is so small that it precludes requesting disbursement by check. The amount of the fund requested should be limited to minimum operating requirements to prevent theft of the cash.

• The Account Executive in consultation with the Head – Accounts is responsible for approving and controlling all petty cash funds.
• The Account Executive is responsible for approving and embossing all changes to petty cash funds and establishment of petty cash funds.
• Account Executive can only be responsible for one petty cash fund.
• The Accounts Executive is responsible for controlling and safeguarding the fund.
• All petty cash expenditures must be supported by a petty cash voucher slip and a receipt. The petty cash voucher slip must be approved by the Account Executive and signed by the recipient of the cash. The voucher slip and receipt must be submitted along with the request.
• The responsible department must notify the Office of the Treasurer when there is a change to the petty cash fund.
• The amount of the fund should be limited to the total of three week’s expenditures.
• All petty cash funds must be replenished at least on a monthly basis and original receipts and voucher slips must accompany all reimbursement requests.