[Solved] Unit 14: Managing Financial Resources in Health and Social Care

Qualification

Pearson BTEC Level 4 HNC in Health and Social Care

Assessor name

Dudley Ofori

Unit Number and title

UNIT 14: MANAGING FINANCIAL RESOURCES IN HEALTH AND SOCIAL CARE

Student name

Criteria Reference

To achieve the criteria the evidence must show that the student is able to:

Achieved?

(tick)

LO 1

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

1.1

explain the principles of costing and business control systems

1.2

identify information needed to manage financial resources

1.3.

explain the regulatory requirements for managing financial resources

1.4.

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

LO 2

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

2.1

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

2.2

analyse the factors that may influence the availability of financial resources in health and social care organisations

2.3.

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

LO 3

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

3.1

explain how financial shortfalls can be managed

3.2

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

3.3

evaluate budget monitoring arrangements in a health or social care organisation

LO4

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

4.1

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

4.2

analyse the relationship between a health and social care service delivered, costs and expenditure

4.3

evaluate how financial considerations impact upon an individual using the health and social care service

4.4.

suggest ways to improve the health and social care service through changes to financial systems and processes.

Higher Grade achievements (where applicable)

Grade descriptor

Achieved?

(tick)

Grade descriptor

Achieved?

(tick)

M1 Identify and apply strategies to find appropriate solutions

D1 Demonstrate convergent /lateral / creative thinking

M2 Select/design and apply appropriate methods/techniques

D2 Take responsibility for managing and organising activities

M3 Present and communicate appropriate findings

D3 Use critical reflection to evaluate own work and justify valid conclusions