Category: financial management

Effective working capital-management techniques.

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For a health care organization to survive and grow, it requires capital. Effective capital management is vital for the business to function, especially in health care sectors that exist with such narrow profit margins. Your business operations skill is important to be able to identify risks associated with various financing options for capital projects that fund growth, purchase equipment, and build new facilities.

Preparing for the Assignment

Create a 12- to 15-slide presentation with detailed speaker notes in which you:

Evaluate effective working capital-management techniques.
Evaluate alternative capital projects.
Analyze risks associated with capital projects.
Describe the decision-making factors in lease versus buy.
Describe the effect of financing strategies on the cost of capital.
Describe the benefits and risks of debt financing.

 

Financial reporting

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Financial reporting is critical to the success of any organization because this is how managers and other stakeholders evaluate the sustainability and profitability of an organization. The healthcare industry accounts for nearly 20% of the US GDP as of 2018 (BEA, 2019). While there is guidance for financial reporting to the respective government agencies, there is no consistency in the development of financial reports among private healthcare organizations. Discuss the importance of consistent financial reports across all healthcare organizations. Support your statements with research and post your discussion in a few paragraphs

 

Operational budget for Krona Community Hospital.

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As a member of the finance team, you have been asked to forecast the upcoming year’s operational budget for Krona Community Hospital. Click here for last year’s budget. After reviewing specific data, internal input, and external input from various sources, you find that the executive management team would like the budget to reflect the following:

10% increase in inpatient revenue
15% increase in outpatient revenue
5% increase in pharmacy revenue
15% increase in home health and hospital revenue
10% increase in payroll and benefits
Additionally, provide discussion on the following:

How do you think that revenue would increase in each of the areas? Think outside of the box, and perform research to determine current trends in those areas.
Why would there be a forecasted need to increase payroll and benefits?
Explain the role of key leadership in the budgeting process, from the chief executive officer down through to the staff level of a financial analyst.

Operations Management Challenges

Posted on | by Brian Leakey

Scenario

XYZ health clinic has operated in the local area for 10 years. Due to an economic decline as a result of the state’s increasing number of uninsured residents, XYZ health clinic must adjust its current service offerings in order to recoup lost revenue. The state has elected to opt out of the Medicaid expansion program; therefore, many of the residents remain uninsured. This has proven extremely problematic for XYZ as many of the patients in the area are low income, but do not qualify for traditional Medicaid. As a result, XYZ’s payer mix is unfavorable as 33% of the residents have public insurance, 12% are uninsured, and only 5% are covered by private insurance. XYZ would like to implement telehealth as part of a new strategy to reach a wider demographic of patients.

Instructions
You will conduct a case study analysis of the aforementioned case. Your case analysis will address XYZ’s health clinic challenges reflected in the scenario.

Utilizing a mind map or Root Cause Analysis, provide an assessment of the issues facing XYZ health clinic.
Assess the strategy by XYZ to implement a telehealth program in order to address current issues facing XYZ.
Develop a proposed solution to the issues facing XYZ.
Include a discussion on the staffing models necessary, technology requirements, and legal requirements of implementing telehealth.

Evidence-Based Practice Competency

Posted on | by Brian Leakey

The six files below are from the QSEN work that has been done and they represent the competencies that exist for QSEN:

Evidence-Based Practice Competency
Health Informatics Competency
Patient-Centered Care Competency
Quality Improvement Competency
Safety Competency
Teamwork and Collaboration Competency
Instructions:

Read one (1) of the competency summaries above.
Discuss how QSEN is dealing with the problems that were originally identified in the book, ‘To err is human’. You need not write a report only a summary of what catches your eye as a good idea and what you want to share with your colleagues.

Engage in practice-informed research and research-informed practice.

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Competency 4: Engage in practice-informed research and research-informed practice.
C4.SP.A: Apply leadership skills, decision making, and the use of technology to inform evidence-based research practice to develop, implement, evaluate, and communicate interventions across the specialization of advanced generalist practice settings.
Related Assignment Criteria:
1: Devise accurate datasets.
3: Describe and report the statistical method or test outcomes using the appropriate statistical method or test.
C4.SP.B: Apply leadership skills, decision making, and the use of technology to inform program evaluation to develop, implement, evaluate, and communicate interventions across the specialization of advanced generalist practice settings.
Related Assignment Criteria:​
2: Develop appropriate statistical tests and reports that assist in program evaluation.
4: Apply critical thinking in verbal and written communication through the use of leadership and technology.
Assignment Scenario
You are evaluating the mental health services provided to children by your agency. The agency provides trauma-informed counseling services to children and youth, ages 5–18. The agency’s goal is to have a relatively equal distribution of children and youth, in terms of ages, who seek services.

You will complete a frequency distribution of the number and ages of children who accessed services within your community agency over the past month. You will need to provide a histogram and summary of your analysis. Consider the implications of the findings as you plan for next year’s programming.

Assignment Instructions
Using the Unit 2 Dataset 2 given in the resources, respond to the following prompts:

Open the Unit 2 Dataset 2 file (given in the resources) in JASP.
Develop a histogram to demonstrate the number of children and their ages. Refer to the JASP Tutorial Video: Histograms and Pie Charts, given in the resources.
Consider that the main goal for using frequency distribution is to simplify large datasets. Graphs provide us with a tool to interpret the data. Addressing the prompts below, provide a brief narrative summary that you would provide to the Ray Foundation to describe the age of children and frequency of services used.
Interpret the data displayed in the histogram output graphs you created.
What trends do you see in the usage of mental health services?
How do these trends affect your planning for the program?

Industry financial best practices to increase financial performance

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Summarize research method(s) conducted to identify industry financial best practices to increase financial performance, optimize market position, and maintain ethical practices that are supported with examples of the method(s).
Evaluate the use and outcomes of two industry financial best practices to increase financial performance, optimize market position, and maintain ethical practices using evidence and data. Provide examples to support the evaluation.
Provide at least two reliable, relevant, peer-reviewed references, published within the last five years that support the paper’s claims.

 

 

 

 

Industry financial best practices to increase financial performance

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Summarize research method(s) conducted to identify industry financial best practices to increase financial performance, optimize market position, and maintain ethical practices that are supported with examples of the method(s).
Evaluate the use and outcomes of two industry financial best practices to increase financial performance, optimize market position, and maintain ethical practices using evidence and data. Provide examples to support the evaluation.
Provide at least two reliable, relevant, peer-reviewed references, published within the last five years that support the paper’s claims.

 

 

 

 

MANAGEMENT OF PLANNED AND UNPLANNED TERMINATION

Posted on | by Brian Leakey

Depending on the client and the length of treatment, saying goodbye can be hard for both of you.
While you generally anticipate that successful treatment will lead to the eventual termination of the client relationship, there are a variety of other reasons for why this relationship might come to an end. There might be a set number of sessions the client’s insurance will allow, or maybe the end of your internship is quickly approaching. Maybe termination results from the unexpected, like a new job or an illness, or the client leaves without notice. Regardless of the cause, you and your client must be prepared for the end of your working relationship.
In this Discussion, you reflect on the termination process, the potential feelings associated with ending a client relationship, and skills to address challenges related to termination.
RESOURCES

Be sure to review the Learning Resources before completing this activity.
Click the weekly resources link to access the resources.
WEEKLY RESOURCES
BY DAY 3
Post a response to the following:
• Explain how you might evaluate client progress and determine when a client is ready to terminate services.
• Describe a situation when a professional relationship may end before the client achieves their goals.
• Describe one potential positive and one potential negative feeling that you, as the social worker, might feel regarding a planned termination and an unplanned termination.
• Describe one potential positive and one potential negative feeling a client might feel regarding both a planned and an unplanned termination of a therapeutic relationship.

Profitability ratios

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Profitability ratios are used to determine a company’s overall financial condition. Using any three return or margin profitability ratios, what do they tell you about your chosen company and its closest competitor? Do you see any red flags? How profitable is the company in relation to sales? How profitable is it in relation to assets? How profitable is it in relation to equity?