HCS 577 Week 1 Individual Assignment Financial Environments Paper

HCS 577 Week 1 Individual Assignment Financial Environments Paper Resource: Financial Environments Paper Grading Criteria located on your student website. You will not be handing in the worksheet for this assignment. You may use it as a guide. You will only be doing a paper. Write: A 800-1000 word paper in which you: Choose three examples for each financial environment as it relates to healthcare. This means you will need three examples of for-profit organizations, three examples of not-for-profit, organizations and three examples of government financial environments in the health care industry (specify by name, such as St. Jude’s or Madigan Hospital). Compare the similarities and differences between the for-profit, not-for-profit, and government financial environment (e.g. where do they get their money, who makes financial decisions, who are their stakeholders) HCS 577 Week 2 Individual Assignment Comparative Summary Resource: Review the Rubric for this week’s assignment. Identify one entity from each health care financial environment identified in the Assignment from Week 1 (this means you will discuss one for-profit you identified in Week 1, one not-for-profit you identified in Week 1, and one government environment you identified in Week 1). Write a 1,050- to 1,400-word summary comparing the financial environments of these three entities. Address the following for each environment: Describe the financial structure. Which financial policies are unique to each environment? Which financial management practices are prevalent in each environment? Explain why effective financial management is more difficult in health care than in other industries. HCS 577 Week 3 Individual Assignment Financial Data Analysis Financial information may have significant differences from one year to the next. Review the financial statements for Patton-Fuller Hospital for 2008 and 2009, and read the narrative information from the Annual Report. Your paper must contain all of the information in the Annual Report to substantiate the changes seen on your spreadsheet you are creating below. Without the information from the Annual Report, you cannot pass this assignment. Resources: Financial Statements under Chief Financial Officer in the Patton-Fuller Hospital Virtual Organization, Financial Data Analysis Grading Criteria located on your student website and the Annual Report Select Downloads from the Financial Statements tab under the Chief Financial Officer link in the Patton-Fuller Community Hospital Virtual Organization on your student website. Download the Microsoft® Excel® versions of the 2009–2008 Balance Sheet (Audited) and 2009–2008 Statement of Revenue and Expense (Audited). Write a 1000- to 1,200-word analysis of the audited financial statements of Patton-Fuller Hospital for 2008 and 2009. Analysis must include. Your analysis must include written explanations from the Annual Report of why changes occurred between the years that were greater than 5% (e.g. Abigail died and left you $1 Million unrestricted donations, board paid out bonuses early, miscounted supplies, etc). Do not write $45,999,999 in your papers. It is $46 million. This is an academic paper, please write it as such. Do not bulk up your paper with numbers. That’s not the point. The point is to explain the changes. Remember the reader has the excel sheets, so it’s better to say “X increased by 5% because of X” than “X was 56,555,555 and now it is 55,444,444. This means nothing to the reader. If you have questions about this, please ask them early. Remember these numbers are in MILLIONS. Financial spreadsheets drop at least the last three zeros for easier reading. So you must write the papers’ numbers in millions, where appropriate. HCS 577 Week 4 Learning Team Assignment Financial Plan and Presentation Resources: Budgets and Financial Statements under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization, University of Phoenix Material: 2010 Operating Budget Projection located on your student website, Financial Plan and Presentation Grading Criteria located on your student website Develop a financial plan in Microsoft® Excel ®for Patton-Fuller Community Hospital for the upcoming year using the 2010 Operating Budget Assumptions memo and the 2009 Operating Budget in the Patton-Fuller Community Hospital Virtual Organization. Submit this as its own document. Pictures or appendices of this should not be included in your presentation. Create a 10- to 12-slide Microsoft ®PowerPoint® presentation (slide count does include the title slide or reference slide(s)) which you address the following: Identify the GAAP used to create the financial plan. Identify the financial statements (Statement of Revenue, Income Statement, Variance Report, etc) used to develop the financial plan. Describe the payment systems (Medicaid/Medicare, commercial insurance, etc) and participants (the uninsured, underinsured, etc) that contribute to the hospital revenue. Describe revenue trends that affect the hospital (the economy, seasonal issues, unemployment). Remember – financial sheets are in millions All documents in the virtual organization used for your assignments are not cited, as they are part of your assignment. So these should not be on your Reference page or cited in any way. Address the following in the detailed speaker notes: Explain the relevance of each GAAP to the financial plan. Discuss the value of each financial statement identified to your decision-making process in the financial plan. Describe the relationship of the financial statements used in the financial plan. Describe each payment system and its effect on financial planning. Clarify the financial contribution of each participant and the effect of each as a source of revenue. HCS 577 Week 5 Individual Assignment Health Care Budget Concepts Write a 1200- to 1,500-word paper in which you do the following: Discuss which financial management practices are most effective in creating and monitoring an operating budget This should include: variance reporting, benchmarking, environmental scanning, model development, forecasting, types of budgets, types of monitoring methods, frequency of monitoring, self audit Discuss which financial management practices are least effective in creating and monitoring an operating budget This should include: top down/bottom up budgets, lack of control, poor inventorying, lack of staff investment, over control. HCS 577 Week 6 Learning Team Assignment Health Care Business Analysis Resources: Budgets under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization and the Health Care Business Analysis Grading Criteria located on your student website Use your Week Four Learning Team Budget Outcomes to begin this budget. Review the 2009 Budget Issues – Nurses in the Patton-Fuller Community Hospital Virtual Organization. Decide which of the two highlighted options on the Nursing Statistics memo of the 2009 Budget Issues – Nurses you will implement. Remember financial spreadsheets are in millions All documents in the virtual organization used for your assignments are not cited, as they are part of your assignment. So these should not be on your Reference page or cited in any way. Develop and Submit a new 2010 Operating Budget Projection in Microsoft®Excel® based on your labor decision from the Nursing Statistics memo and submit this as an additional attachment to your assignment. This budget is critical to the success of your paper and final grade. If you have questions, ask them early. Create a 15- to 20-slide Microsoft®PowerPoint® presentation (slide count does not include the title slide or the reference slide(s)) with detailed speaker notes in which you do the following: Provide a thorough introduction of your presentation Differentiate between managerial accounting and financial management Explain GAAP applied to the health care industry and how they applied to your Operating Budget Projection Justify your decision. Include numbers from the organization to support your analysis, such as numbers related to accounting principals, fiscal management, the balance sheet, and so on. Analyze the effect of your decision on the operating budget. What is the opportunity cost of your decision? How does budget performance affect patient care and employee satisfaction? How are finance and accounting related to an operating budget? Explain the role of cost measurement in maintaining the operating and capital budgets via variance analysis. 12 textbook exercise cmgt 445 week 5 learning team assignment professional
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…HCS 577 : Financial Management in Health Care – University of