In the 1970s the Federal Reserve Banks established a number of Remote Check Processing Centers (RCPCs) around the country with the avoided goal of accelerating the presentment of checks (Board of Governors of the Federal Reserve System 1971; Board of Governors of the Federal Reserve System 1972).
If the social cost of clearing checks outside the Fed is greater than the cost of clearing them through the Fed, then there might be no net social savings to closing down the RCPC, since the increase in private costs might outweigh the decrease in Fed costs.
Suppose again that the Fed is considering closing an RCPC, but that no banks switch to other means of clearing checks.
In the decision to close an RCPC, for example, the analysis should take into account the effect of increased float on depositing banks' check clearing choices.
In addition, the three RCPCs can serve as resources to each other for questions of a technical nature.
RCPC, as acronyms go, doesn't exactly roll off the tongue.
Faced with these problems, we decided to alter the structure of our nursing department and create a position we called the Restorative/Care Planning Coordinator, affectionately referred to as the RCPC.
The RCPC is a nursing generalist in the purest sense of the word.
By having control of the restorative nursing program for all of the residents on her assigned unit, the RCPC is in a perfect position to evaluate, plan, and monitor the programs provided by each nursing assistant to the residents on their assignments.
The RCPC completing care plans for 32 to 34 residents on her unit has a much better feel for how the care plan should express the care actually being delivered.
The RCPC has also evolved to become a helpmate to the charge nurse.
* created a situation where the professional nurse functioning as the RCPC has many opportunities to work hands-on with residents for whom he/she is documenting, putting some meaning into the documentation; and