Introduction
Recent trends in online trading operations have largely altered the basic principles underlying stock trade. The trends guide the approach adopted in the management of online trade operations. Additionally, the online platform allows people to easily access information as well as facts that define the online trends adopted by various persons as well as organizations. The online platform also allows individuals to easily interact with the companies they intend to trade with. This occurs either via brokers or directly. As a result, people base their trading decisions on personal judgments as well as expertise (Charles, 2010). The online platform has created a paradigm shift in financial markets with over-reliance on brokers gradually declining.
Online stock trading
Online trading enables an individual to purchase and put up stocks and shares for sale from the comfort of their homes or workplaces. This is done without the need for brokers (Travolta, 2008). To enjoy online trading, one needs to own a PC and a good internet connection. Additionally, an online trader may be required to facilitate trading. The brokers facilitate individuals to buy and sell stocks whenever they so desire. The commission rates are also largely reduced by the ability to engage in online trading. The number of companies offering online trade is large. They provide the platforms that allow individuals to open accounts and use them for purchasing and selling of stock. These accounts form the center of stock trading is done, both with regard to purchases and sales of the stock. For individuals who require the services of professionals, an additional fee is charged.
While some charge a commission as low as $5, some charge up to hundreds of dollars. Differences arise when one chooses either the discounted or traditional brokerages. Some companies like Charles Schwab and Merrill Lynch, provide both options. The table below compares the rates and charges offered by three different online companies.
Comparison of three online trading companies.
| Ameritrade | FXXD | E-Trade financial | |
| Minimum Deposit | $250 | $100 | $250 |
| Commission rate | 9.9% | 8.8% | 10% |
Online share trading services
There are three main aspects necessary to begin online stock trading. These include the trading account, the PC, and an internet connection (Jenny, 2009). One needs to open up an online trading account to enjoy online trading of stock. The facilitators of such accounts act as brokerage agents. They charge brokerage fees and hence brokerage rates and taxes applicable should be evaluated before opening online trade accounts. Different trading rates are available for different trading methods. It is important to get a demo of a company’s online trading software to ensure its reliability before opening an account. It is also important to look out for any additional charges.
Dividend Re-Investment Plans and direct investment plans
A number of corporations permit individuals to buy or sell stock options directly without the need of making use of or paying out commission rates to an agent. However, an individual may well have to pay out a charge to utilize the provider’s platform (Travolta, 2008). A number of organizations require that an individual own some stock in the corporation or are currently employed by the corporation. This is a prior requirement to take part in the company’s direct stock options. An individual can buy stock by trading a dollar sum instead of having to pay out for a whole share.
Purchasing dividend reinvestment plans (DRIPs) is a large well-known means for people to invest in the stock market. DRIPs, and other closed-end funds, enable existing investors to buy stock directly from a corporation. Traders buy stock shares, after which the resulting dividend payouts are reinvested on their behalf to enable the growth of the shares owned. A considerable number of dividend reinvestment plans enable traders to make voluntary funds payments directly to the strategies to buy shares.
DRIP’s vary significantly from a single corporation to yet another. Even though the majority of DRIP’s demand investors to own basically a single share to sign up, some might need shareholders to own up to 50 shares to be eligible. Whilst the majority of plans impose absolutely no costs for taking part in their DRIPs, several corporations impose commissions as well as fees (Reagan, 2007). However, one can use a number of existing avenues to determine the eligibility requirements laid down by different companies participating in dividend reinvestment plans. It is important to identify the plan specifics, more especially, the requirements for eligibility before investing in the stock. The dividend investment plan, as well as share growth, is illustrated in the table below:
| DRIP INVESTMENT PLAN AND SHARE GROWTH | ||||||
| Shares Owned | Quarter | % dividend payout | Dividend Paid | Share Price | Shares Added | closing shares |
| 100 | Q1 2010 | 36% | $36.00 | 18.24 | $1.974 | $101.974 |
| 101.86 | Q2 2010 | 36% | $36.67 | 19.13 | $1.917 | $103.777 |
| 103.508 | Q3 2010 | 36% | $37.26 | 21.22 | $1.756 | $105.264 |
| 104.74 | Q4 2010 | 36% | $37.71 | 22.48 | $1.677 | $106.417 |
| 105.36 | Q1 2010 | |||||
From the table, the investor owned $100 worth of shares initially; a dividend of 36% was paid for every quarter of 2010, and then was re-invested into the shares of the company without any commission being charged. The result is that, the owner’s shares undergo continuous growth. Basically, under DRIP plan, the investor only pays a onetime brokerage fees when purchasing the initial stock.
Drips are a means to commence investment using a extremely little quantity of funds, and to maintain investment on a monthly basis (or simply, as regularly as an individual will be able to manage) whether in little or even huge sums, whilst staying away from broker agent commission rates and also reinvesting virtually all payouts ( Reagan, 2007). In the long-term, it is a fantastic as well as “calm’ based method to expand cash over time, because one has money operating for them within organizations. Ideally, one does not anticipate selling the shares in the shorter duration.
DIRP’s/DIP’s versus online stock buying
The two methods presented in this paper illustrate different perspectives that one may adopt, in investing in shares. The costs, requirements, as well as eligibility, differs. Unlike online stock trading where commission is charged based on transactions, DIP’s/DIRP’s charge a onetime entry fee after which one can continuously re-invest the payouts generated by the investments. In some instances, DIP’s/DIRP’s allow the shareholders to deposit additional funds to facilitate purchase of additional shares, either at a reduced cost or even free of charge. The major differences between the two are summarized in the table below
| DIRP’s/DIP’s | Online stock trading |
| One must be currently owning shares in the company he/she intends to invest in. | One must initially open an online account with a brokerage firm |
| An individual pays a onetime brokerage fee when purchasing the initial stocks.
No commissions are charged for transactions. |
Payments are based on pre-defined commission rate and in some instances one is required to pay an entry fee. |
| No minimum threshold is set; one only needs to already have some shares.. | Various companies set different minimum thresholds which may limit an individual’s ability to trade. |
| The investor relies on the dividend payout by the company an individual has invested in. | An individual chooses the line of investment to adopt, and how to distribute the investment. |
| Individuals can only invest and wait for returns as the company would deem necessary. | One has direct control over his/her investments although professionals are there to guide at an additional fee. |
Conclusion
Each investment alternative has its advantages as well as disadvantages. The option an individual chooses should be guided by informed decisions. While DIRP’s and DIP’s allow shares to grow based on re-investment of the earned dividends, the online trading option allows client’s to personally trade with their investments, and hence provide them with freedom to control their trade activities. Both present their own unique risks and as such one needs to be fully aware of the risks, and possible rewards associated with their ventures. Making the right choices is important and this can only be achieved if one bases his/her decisions on rational choices. Generally, no option is a guarantee to instant money making or a short-cut to wealth. However, online trading is more risky to newer beginners and hence one should seek as much information as possible before embarking on it.
Reference
Charles, B. C. (2010). Dividend Reinvestment Plan Starter Guide. DRIP Investor, 1- 8.
Jenny, S. (2009). Investing Online. Investment Choices, 23(3), 34-39.
Reagan, B. (2007). Choosing the best investment options, The Investor,12(3), 67-72.
Travolta, S. (2008). Investing options. Investment journal, 2(1), 123-126.
Emergency Departments And Balanced Scorecard Assignment
Division Selection
Emergency departments (EDs) provide services to patients that are brought in by ambulance vehicles, but those getting to the hospital on their own can also receive services in cases of emergency. These departments are established to help patients with a variety of acute life-threatening conditions, such as injuries, heart attacks, cerebral accidents, and so on. However, the acute exacerbations of chronic health conditions can also be managed in the selected division.
Article Review
Rahimi, Kavosi, Shojaei, and Kharazmi (2017) provide a comprehensive review of performance indicators used by healthcare organizations that implement the balanced scorecard approach. The research team mainly focuses on indicators that are applicable to diverse healthcare environments, but performance measures peculiar to EDs (ED waiting time, ED length of stay, etc.) are also discussed in a detailed manner. The source contains valuable information concerning the four balanced scorecard perspectives or the categories of measurement.
To continue, the source by Stefanini, Aloini, Benevento, Dulmin, and Mininno (2018) explores the issues of performance measurement in EDs, such as the lack of specificity. The researchers review and evaluate twenty performance indicators that refer to patients’ perspectives on care, time measures, and resource utilization. The study provides multiple recommendations concerning analyzing the effects of the patient flow on daily activities.
Finally, Yoo et al. (2018) delve into performance measurement in EDs with special attention to the development of real-time and autonomous dashboards for the selected hospital division. The researchers demonstrate an example of an effective dashboard that has been tested in an ED with high crowding. The article is specifically focused on evaluating nurse- and physician-reported usability of the performance measurement tool in question.
Categories of Measurement
Despite the complexity of services, EDs share multiple similarities with any other businesses. The selected division has a workforce consisting of diverse specialists and serves a number of clients who expect to get timely and high-quality care. Also, any ED has to locate human and financial resources to conduct effective internal processes and control them. Considering that, it is possible to use the four traditional elements of the balanced scorecard framework as the broad categories of measurement. Among these categories are the financial aspects of performance, internal processes, growth/development as it pertains to staff members, and performance from the healthcare consumer’s perspective (Rahimi et al., 2017).
Performance Indicators
Staff Development
The first performance measure is the personnel satisfaction rate (Rahimi et al., 2017). The data may come from the employee satisfaction index (ESI) survey with questions pertaining to satisfaction, expectations, and similar issues. Regarding calculations, there are specific ESI formulas that vary depending on the number of survey questions. ED staff turnover is the second measure (Rahimi et al., 2017). The calculations involve dividing the number of ED employees who left the department during the period in question by the average number of people employed during the period and multiplying the quotient by 100. The third measure is the ED employee absenteeism rate (Rahimi et al., 2017; Stefanini et al., 2018). It is calculated by dividing the number of unjustified absences during the analyzed period by the result of multiplying the number of working days in the period and the average number of employees. The quotient is then multiplied by 100 to get the absenteeism rate.
Internal Processes
The waiting time for triage is the first indicator that can be used (Stefanini et al., 2018; Yoo et al., 2018). It is measured by calculating the average number of minutes between the recorded time of arrival and the start of triage. The next indicator that can be of use is the average “length of stay for discharged patients” (Stefanini et al., 2018, p. 135). To measure it, one needs to calculate the total period of hospitalization for discharged patients and divide it by the number of discharged patients. The third indicator is the ED mortality rate; it is calculated by dividing the number of recorded deaths by the total number of admitted patients and multiplying the result by 100.
Performance from the Customer’s Perspective
The unplanned re-attendance rate can be calculated by dividing the number of patients re-admitted to the ED within three days by the total number of patients and multiplying the quotient by 100. Next, the patient complaint rate is a popular indicator (Rahimi et al., 2017). It is calculated by dividing the number of care quality complaints from patients by the total number of patients and multiplying the quotient by 100. The third indicator that can be proposed is the rate of the so-called “left without being seen” (LWBS) patients (Stefanini et al., 2018, p. 135). First, patient records should be used to calculate the number of patients that were registered but did not undergo medical screening examinations. The result is when divided by total ED encounters and multiplied by 100.
Financial Performance
The first indicator refers to the size of personnel costs (Stefanini et al., 2018). It is measured by dividing total personnel costs (compensation, training, wages, etc.) by total ED costs and then multiplying the result by 100. Other indicators are average hospitalization expenditures per person (total hospitalization expenditures divided by the number of patients) and the indicator measured by calculating ratio of total revenue to total costs (Stefanini et al., 2018).
Different Analysis Levels
Not all of the measures above could be used to analyze an entire organization’s performance instead of focusing on EDs. For instance, the indicator linked to LWBS patients would need to be replaced by something else since it is of utmost importance to measuring emergency care quality. As for the mortality rate, it would be more practical to calculate it for different divisions individually since the risks of lethal outcomes vary across departments.
References
Rahimi, H., Kavosi, Z., Shojaei, P., & Kharazmi, E. (2017). Key performance indicators in hospital based on balanced scorecard model. Journal of Health Management & Informatics, 4(1), 17-24.
Stefanini, A., Aloini, D., Benevento, E., Dulmin, R., & Mininno, V. (2018). Performance analysis in emergency departments: A data-driven approach. Measuring Business Excellence, 22(2), 130-145.
Yoo, J., Jung, K. Y., Kim, T., Lee, T., Hwang, S. Y., Yoon, H.,… Choi, J. S. (2018). A real-time autonomous dashboard for the emergency department: 5-year case study. JMIR mHealth and uHealth, 6(11), e10666.
The Program Meyssell Executive Summary
Introduction
The purpose of health practice is to deliver evidence-based and timely care to more patients. The targeted Quality Improvement (QI) initiative focuses on a new information technology (IT) system that can improve the outcomes of many patients (McGonigle & Mastrian, 2015). The program will be characterized by the use of modern technologies to manage data, improve communication, and equip practitioners with new concepts.
Purpose of the Program
The proposed IT system will be critical towards improving the quality of care availed to different patients. The program is aimed at promoting the best practices in health care. Practitioners will be able to communicate effectively, share ideas, and partner with other caregivers. They will record patient data and use the information to make future nursing decisions. The important goal of the new IT system is to improve the quality of services delivered to different patients (McGonigle & Mastrian, 2015). This goal will be achieved by improving the levels of communication and decision-making. Practitioners will manage their patients effectively, record information, and liaise with their teammates (Chin & Sakuda, 2012).
Targeted Population
The proposed QI initiative focuses on the use of modern technologies in healthcare practice. The program will support the needs of different caregivers, physicians, and doctors. These practitioners will be equipped with various technologies that can transform the health outcomes of every patient. As well, the QI strategy seeks to improve the quality of care availed to different people (Hoffman & Podgurski, 2011). Physicians and caregivers will be able to engage in evidence-based practices in order to transform the quality of healthcare.
Benefits of the Program
It is agreeable that the proposed program will improve the performance of the targeted healthcare facility. The program will present numerous benefits. For instance, the project will make it easier for more practitioners to communicate effectively (Hoffman & Podgurski, 2011). They will share the best concepts, skills, and ideas thus supporting the changing needs of different communities. Nurse Leaders (NLs) will also be able to monitor the quality of care availed to different patients. The targeted patients will also be encouraged to participate in every decision-making process. The program will also ensure every caregiver supports the health needs of his or her clients.
Budget Justification
The institution will not incur numerous costs. This is the case because the proposed initiative requires “a few computers, internet, handheld devices, and medical applications” (Chin & Sakuda, 2012, p. 52). These resources can be acquired without incurring numerous costs. The institution will therefore purchase new computers and connect them to the internet (Chin & Sakuda, 2012). More physicians and caregivers will be trained in order to use such equipment effectively (Chin & Sakuda, 2012). These expenses will not affect the current performance of the facility. The QI will require minimal budgetary allocations. However, it will have numerous implications on the quality of care availed to different patients.
Evaluating the Program
The program will be implemented and evaluated in accordance with various medical terminologies. The “main terminology will be the Meaningful Use” (Chin & Sakuda, 2012, p. 53). This terminology focuses on the effective use of different informatics in order to improve the quality of care. A timeline will be designed to monitor every issue, achievement, and challenge associated with the QI program. In conclusion, modern informatics can improve the level of decision-making. The practice will eventually empower more clients and communities.
Reference List
Chin, B., & Sakuda, C. (2012). Transforming and Improving Health Care through Meaningful Use of Health Information Technology. Hawaii Journal of Medicine and Public Health, 71(4), 50-55.
Hoffman, S., & Podgurski, A. (2011). Meaningful Use and Certification of Health Information Technology: What about Safety? Journal of Law, Medicine, and Ethics, 1(1), 77-80.
McGonigle, D., & Mastrian, K. (2015). Nursing Informatics and the Foundation of Knowledge. Burlington, MA: Jones and Bartlett.