HCM640 Unit 1 DB2_2024

Strategies that a hospital must do to achieve financial healthiness

1. Briefly explain The Information Flow.  2. How can social media help a hospital manage the patient experience? 3. Briefly explain the difference between short-term and long-term assets. 4. What are the major differences in Government Sourcesand Managed Care Source? 5. Explain the two types of disbursements for services. 6. What is the difference between direct and indirect costs? Explain.

Please describe the importance of financial information in healthcare organizations and list the users of financial information? and what is the role of coding information in healthcare organizations in claim generation?

What is forecasting in a healthcare business. Provide an example of how forecasting is conducted in a healthcare organization.

Why is financial ratio analysis crucial for understanding the financial position of a healthcare organization? Select any three of the commonly used financial ratios, provide the formula, and briefly explain what it tells us about the status of the healthcare facility.

Describe the importance of Revenue Cycle Management and the impact it can have on the healthcare organization

1. How can social media help a hospital manage the patient experience? 2. Briefly explain the difference between short-term and long-term assets.

a. What is the primary difference between financial statementanalysis and operating indicator analysis?b. Why are both types of analyses useful to health services managersand investors

How can CVP Analysis be used to predict future cost and profitability? How can CVP analysis be used in a hospital setting?

1. How are solvency ratios used to provide guidance for health organizations? 2. Explain the concept of a present-value analysis.

East Alabama Medical Center uses nonfinancial performance measures to track the following objectives: • Maintain and improve the quality of clinical services. • Improve patient service. • Enhance employee recruitment and retention. (a) Link each of these objectives to one of the four balanced scorecard perspectives. Objective   Perspective Maintain and improve the quality of clinical services    FinancialLearning & growthInternal business processesCustomer Improve patient service    Learning & growthInternal business processesFinancialCustomer Enhance employee recruitment and retention    Learning & growthCustomerInternal business processesFinancial (b) Identify where on a balanced scorecard you would most likely find the following metrics: Metric   Perspective • Patient satisfaction score    Internal business processesFinancialCustomerLearning & growth • Number of medication errors    Internal business processesLearning…

Course: Principle Of Healthcare Finance Name two ways healthcare leaders can establish and maintain credibility.

A healthcare organization is planning to invest in new technology to improve patient care and outcomes. The organization has limited funds and is trying to decide whether to finance the investment through debt or equity. You have been hired as a consultant to help the organization make an informed decision. Which of the following factors should the healthcare organization consider when deciding whether to finance the investment through debt or equity?    All of the above    The cost of capital    The level of control and ownership of the organization    The level of risk associated with the financing option

Write down the importance of time value of money for healthcare organization.

How can cost accounting be utilized to support healthcare organizational strategic decisions and goals related to departments, facilities, and services.

How does having an effective payment model impact the role of a manager / administrators in a healthcare organization .

Provide a brief explanation of the following: a) the difference between the ratios mentioned below; b) what each ratio conveys to hospital administrators; c) which financial statement would you use to get the data to complete each ratio; and, d) define if you would need any other information to provide a status of the operation to the hospital COO (Hint: note that it is the Chief Operations Officer who you are meeting with). Fixed Asset Turnover = Total revenue Net fixed assets TA turnover = Total revenue Total assets Edit View Insert Format Tools 12pt ✓ Paragraph $117,476 $119,998 tv Table BIU $117,476 $151,278 MacBook Pro 18 - 0.98 times = 0.78 times > T² V ... Screenshot 2023-0....00.11 PM 202-

What is the key issue currently facing healthcare managers? Do you think this is something that financial managers face in industries other than healthcare?

How will I, as a health care manager, be involved in long-term financing for your organization? Provide examples.

What was the motivation for changing the way physicians are compensated in the Medicare system? What are the implications for physicians' behavior as the resource-based relative value scale is fully implemented?

Course: Principle Of Healthcare Finance What is the most important function of a CFO within a healthcare organization?

summarize high level SNF industry trends and the general financial condition of the Skilled Nursing Facility industry.

The main selling point(s) of managed care is (are) what? ☐ 1) Reduce the cost of care. 2) Raise or maintain the quality of care 3) Help employer select healthier employees in the insurance pool. ○ 4) A & B ☐ 5) B & C ○ 6) A & C