HSA5400 \u2013 Healthcare Financial Management and Economics
\nAlso, keep in mind that citing your sources is a two-step process. You need to provide a matching in-text citation for all sources noted on the reference page.
\nDeliverable 1 – The Financial and Economic Impact of Expansion
\nCompetency
\nCompare and contrast the role of finance and economics in the management of health systems in the U.S. and international markets.
\nScenario
\nMetropolitan Memorial is a large healthcare organization in a major city. The hospital has been providing medical care to the patrons of the state for 10 years but recently has noticed that the competition has been affecting its financial growth. The board that governs the hospital has decided that they would like to expand their patient niche into the rural portions of the state. The CEO of Metropolitan Memorial has made you the team leader of the group in charge of analyzing the financial and economic impact of the expansion.
\nInstructions
\nPowerpoint \u2013 14 slides
\nPlease focus your research on one international market with a universal health care system), such as Canada, Japan or Switzerland, etc. You should also discuss the positive economic impact that universal health care has had on that country. It would be best if you used specific economic statistics to support your points.
\nBefore initiating the plans for expansion, the CEO has requested you complete a project proposal using presentation software such as PowerPoint using speaker notes for each slide or voiceover narration. Your presentations shouldaddressesthe following key points:
\nExamine an international market in which expanding coverage of care yielded a positive economic impact.
\nIdentify an appropriate healthcare delivery model for the expansion of care.
\nResources
\nThislinkhas information for creating a PowerPoint presentation.
\nHere is alinkto information about adding speaker notes.
\nHere is alinkto information about creating a voiceover narration using Screencast-O-Matic.
\nHSA5400 \u2013 Healthcare Financial Management and Economics
\nDeliverable 2 – Budget Shortfalls
\nCompetency
\nEmploy contemporary economic principles that guide resource allocation decisions in health organizations.
\nScenario
\nUpon reviewing the annual budget and fiscal standing of Metropolitan Memorial, the CFO has identified shortfalls that will impact the funding of its proposed expansion into rural communities. To secure adequate funding from the Board, the operational team must reduce the current operating budget by a million dollars.
\nInstructions
\nMemo \u2013 6 pages
\nBe sure to discuss several examples of quality of care thoroughly. It may be beneficial to use specific quality of care measures, such as timeliness of care, mortality, or readmission rates, and explain how budget cuts might impact these. Be sure to select a specific service line, such as cardiology, rhinoplasty, oncology, orthopedics, etc. Once you identify a specific service line be sure to thoroughly address five possible ways in which the service line may maximize resource allocation.
\nThe CFO requests that you draft a memo to the Board providing justification for the additional funding in light of the shortfall. You should review the current literature to support your justification. Your memo should include the following information based on the literature:
\nExplain the possible impact of resource allocation within rural communities.
\nDiscuss the factors that may affect the quality of care by reducing healthcare resources to accommodate budgetary constraints.
\nDiscuss a potential service line and five possible ways in which the service line may maximize resource allocation.
\nResources
\nThis link has information about writing a memo.
\nHSA5400 \u2013 Healthcare Financial Management and Economics
\nDeliverable 3 – Payment Models and Value-Based Care Delivery
\nCompetency
\nEvaluate the role and impact of financial principles on healthcare organizations.
\nScenario
\nMetropolitan Memorial is seeking to expand its service offerings into underserved rural communities. The Board of Directors has expressed concerns given the emergence of new payment models, low reimbursement from Medicare and Medicaid, and uncertainty in terms of provider incentives offered through the Affordable Care Act. The Board of Directors has requested an executive summary outlining the organization\u2019s financial viability given the challenges facing health organizations, particularly those operating in rural communities.
\nInstructions
\nExecutive summary \u2013 6 pages
\nBe sure to address reducing per capita costs of health care. When discussing payer mix, be sure to explain the impact of payer mix on revenue thoroughly. You may also want to add a discussion about the impact of revenue from Medicare and Medicaid patients.When discussing value-based healthcare delivery, be sure to thoroughly address how this methodology can be used to save cost. You should also include multiple examples to support your points.
\nThe CEO has asked you to prepare an executive summary to present to the Board of Trustees, discussing the following information:
\nIdentify the different types of healthcare payment models that could be utilized by Metropolitan Memorial.
\nResearch the Triple AIM and discuss ways the organization can achieve the goals of the Triple AIM (improving the experience of care, improving the health of populations, and reducing per capital costs of health care ).
\nDiscuss possible ways the payer mix may impact hospital revenue.
\nExplain how value-based healthcare delivery could be utilized to save money.
\nResources
\nThis link has information about creating an executive summary.
\nHSA5400 \u2013 Healthcare Financial Management and Economics
\nDeliverable 4 – Conducting a Comparative Financial Analysis
\nCompetency
\nAnalyze financial statements to assess performance and to ensure organizational improvement and long-term viability.
\nScenario
\nIn an ongoing effort to explore the feasibility of expanding services into rural areas of the state, leadership at Memorial Hospital has determined that conducting a review of its financial condition will be essential to ensuring the organization\u2019s ability to successfully achieve its expansion goals.
\nInstructions
\nExecutive summary \u2013 6 pages
\nThe CFO has provided you with a copy of the organization\u2019s financial statements.
\nMetropolitan-Memorial-Hospital-Financial-Statements.docx \u2013 will post in the chat window
\nThis information will be critical in evaluating the organization\u2019s financial capacity to support the proposed expansion of services into the rural areas of the state.
\nYou are asked to review these financial statements (which include the Income Statement, Statement of Cash Flows, and the Balance Sheet) and prepare an executive summary outlining the financial strength of the organization and evidence to support the expansion. Your executive summary should include the following:
\nAn overview of the issue.
\nA review of critical financial ratios (Liquidity, Solvency, Profitability, and Efficiency) based on financial statements.
\nInferences of forecasts, estimates, interpretations, and conclusions based on the key ratios.
\nProvide a recommendation based on ration analysis.
\nResources
\nThis link has information for creating an executive summary.
\nHSA5400 \u2013 Healthcare Financial Management and Economics
\nDeliverable 5 – Revenue Cycle Management and Reimbursement Models
\nCompetency
\nApply principles of finance and accounting to healthcare outcomes, reimbursements, and business operations.
\nScenario
\nAfter an evaluation of its current financial status and an assessment of future industry trends, the governing board for Metropolitan Memorial has approved its CEO\u2019s request to expand operations into the rural areas of the state. Many rural residents rely upon Medicare and Medicaid for the financing of their healthcare needs. The hospital will offer satellite services including primary care, urgent care, telehealth, and emergent care services. The hospital is embracing the concept of value-based care given the economic makeup of the population within the rural community. Value-based care focuses on advancing the triple aim strategy of providing better care for individuals, improving population health management initiatives, and reducing overall health costs.
\nInstructions
\nPowerpoint \u2013 14 slides
\nThe CEO has asked you to create a PowerPoint presentation (using speaker notes for each slide or voiceover narration) outlining the revenue cycle management process. Your presentation should include a discussion on value-based care models as introduced by the Centers for Medicare and Medicaid Services (CMS), such as ACOs and the Medicare Shared Savings Program. In addition, based on the research you\u2019ve done, you will need to include a recommendation for a possible strategy to strengthen the organization\u2019s financial operations in preparation for the transition to value-based care.
\nResources
\nThis link has information for creating a PowerPoint presentation.
\nHere is a link to information about adding speaker notes.
\nHere is a link to information about creating a voiceover narration using Screencast-O-Matic.
\nHSA5400 \u2013 Healthcare Financial Management and Economics
\nDeliverable 6 – Preparing an Operating Budget
\nCompetency
\nPrepare a financial budget that supports improved business and patient outcomes.
\nScenario
\nOne year ago, Metropolitan Memorial expanded its operations into a rural community located approximated a hundred miles from its main facility. The clinic offers a wide array of outpatient services. As the Senior Accountant, you are reviewing the clinic\u2019s operating budget from the previous year. You have been asked by the hospital\u2019s chief administrator to create a new six-month operations budget for the clinic.
\nOperating-Budget.xlsx \u2013 will post in the chat window
\nInstructions
\nMemo \u2013 6 pages
\nUsing an Excel spreadsheet, create a new six-month budget for the clinic that includes the following revenue and expense projections:
\nThe clinic\u2019s revenue is projected to grow by approximately 3% as a result of a new managed care contract.
\nThe cost of expenses is expected to increase to 1.5%.
\nThe clinic will also be adding a new roof to the facility at a projected cost of $50,000.
\nThen prepare a memo for the chief administrator. The memo should include a review of the previous year\u2019s budget, an analysis of the upcoming changes (figures above), and a discussion about the impacts that these changes will have on the budget for the upcoming year.
\nResources
\nYou can find Excel resources at thislink.
\nThislinkhas information about writing a memo.<\/p>\n
Metropolitan Memorial Hospital
\n(Balance Sheet)
\n(in thousands)
\n2018 2017
\nCurrent Assets
\nCash\t$124\t$280
\nTemporary Investments\t45\t30
\nReceivables, Net\t$1,536\t$1,340
\nInventory\t175\t140
\nPrepaid Expenses\t32\t40
\nTotal Current Assets
\nLong-term Investments\t1,010\t600
\nPlant and Equipment\t6,980\t6,580
\nLess accumulated depreciation\t(1,730)\t(1,660)
\nPlant and Equipment, net\t5,250\t4,920
\nTotal Assets\t$8,172\t$7,350
\nCurrent Liabilities
\nAccounts Payable\t$302\t$370
\nAccrued Expense Payable\t208\t220
\nDeferred Revenues\t77\t60
\nTotal Current Liabilities\t587\t650
\nLong-term liabilities\t3,000\t2,400
\nTotal Liabilities\t3,587\t3,050
\nNet Assets
\nUnrestricted\t3,285\t3,000
\nTemporarily Restricted\t700\t700
\nPermanently Restricted\t600\t600
\nTotal net assets\t4,585\t4,300
\nTotal liabilities and net assets\t$8,172\t$7,350
\nMetropolitan Memorial Hospital Statement of Operations
\n(Income Statement)
\n2018 2017
\nGross patient services revenue (non-GAAP*)\t$9,490\t$8,870
\nLess deductions from revenues (non-GAAP)\t(890)\t(780)
\nNet patient services revenues\t8,600\t8,090
\nOther operating revenues\t633\t519
\nTotal operating revenues\t9,233\t8,609
\nOperating expenses
\nSalaries and wages\t5,678\t5,497
\nSupplies\t850\t823
\nUtilities\t576\t558
\nInsurance\t46\t44
\nDepreciation\t173\t168
\nInterest\t146\t142
\nBad Debts\t375\t363
\nOther operating expenses\t1,299\t987
\nTotal operating expenses\t9,143\t8,582
\nOperating Income\t90\t27
\nNonoperating Income\t195\t154
\nExcess of revenues over expenses\t$285\t$181
\nChanges in net assets
\nUnrestricted\t$285\t$181
\nTemporarily restricted\t–\t–
\nPermanently restricted\t–\t–
\nTotal changes in net assets\t285\t181
\n*GAAP = generally accepted accounting principles
\nMetropolitan Memorial Hospital
\n(Statement of Cash Flows)
\nCash Flows from Operating Activities
\nCash received from patient and third-party payers\t$8,404
\nCash received from other operating revenue sources\t650
\nCash received from nonoperating revenue sources\t180
\nCash payments to employees\t(4,500)
\nCash payments to suppliers of goods and services\t(4203)
\nNet cash flow from operating activities\t\t$ 531
\nCash Flows from Investing Activities
\nCash payments for the purchase of plant assets\t(940)
\nCash payments for purchase of long-term investments\t(450)
\nProceeds from sales of plant assets\t54
\nProceeds from sale of long-term investments\t49
\nNet cash flow from investing activities\t\t(1,287)
\nCash Flows from Financing Activities
\nProceeds from Issuance of 6% bonds payable\t3,000
\nPrincipal payments on long-term debt\t(400)
\nCash payments to retire 7% bonds payable\t(2,000)
\nNet cash flow from financing activities\t\t600
\nNet increase \/ (decrease) in cash\t\t$(156)<\/p>\n
_______________________________________________________
\nDeliverable 1 – The Financial and Economic Impact of Expansion<\/p>\n
Slide 1:
\nTitle: The Financial and Economic Impact of Expansion
\nSubtitle: Metropolitan Memorial Hospital<\/p>\n
Slide 2:
\nIntroduction:<\/p>\n
Metropolitan Memorial Hospital’s plan to expand its patient niche into rural areas.
\nResearch on an international market with universal healthcare: Canada.
\nSlide 3:
\nPositive Economic Impact of Universal Healthcare in Canada:<\/p>\n
Canada has a universal healthcare system, providing care to all residents.
\nEconomic statistics:
\nHealth expenditure as a percentage of GDP: 10.9% (source: World Bank).
\nLife expectancy: 82 years (source: World Bank).
\nInfant mortality rate: 4.8 deaths per 1,000 live births (source: World Bank).
\nSlide 4:
\nHealthcare Delivery Model for Expansion:<\/p>\n
Adoption of the Canadian healthcare delivery model.
\nKey features:
\nPublicly funded healthcare system.
\nCoverage for essential medical services.
\nEmphasis on primary care and preventive measures.
\nSlide 5:
\nBenefits of the Canadian Healthcare Delivery Model:<\/p>\n
Improved access to healthcare for rural populations.
\nReduced financial barriers to healthcare services.
\nBetter population health outcomes.
\nEnhanced efficiency and cost-effectiveness.
\nSlide 6:
\nConclusion:<\/p>\n
Expansion into rural areas with the Canadian healthcare delivery model can have a positive economic impact.
\nImproved access to care and better health outcomes for underserved populations.
\nSlide 7:
\nReferences:<\/p>\n
World Bank. (Year). [Title of the data]. Retrieved from [URL].<\/p>\n","protected":false},"excerpt":{"rendered":"
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