Healthcare Financial Management Search

Healthcare Financial Management Search

Assignment: Healthcare Financial Management Search

HA4200 Course Project

Description

The HA4200 Healthcare Financial Management course project is a course project that requires students to integrate what they have learned in the course learning plans. The course project will begin in week 2 of the course and continue until week 11, culminating with an interview of a healthcare financial manager and consulting proposal for improving an organization’s financial operations. It is important for students to review the entire course project requirements and plan to complete the key components required.

The HA4200 Course Project requirements are outlined below.

Part 1 Healthcare Financial Manager Search

Begin Week 2

Complete Week 5

Total Time: 6 hours

Points 20

Students will need to locate a healthcare professional who has managed a healthcare operating budget. This can be in any type of healthcare facility or department in a healthcare facility. Some examples can be a doctors office, group practice, medical clinic, hospital, log-term care facility or home healthcare agency, etc.

The goal of the interview will be to meet in person or by phone with the healthcare professional in order to conduct a 15-30 minute interview as it relates to their experience with managing a healthcare financial budget. The requirements for receiving credit for locating the healthcare professional to interview include:

1. Name and position title 2. Organization Name and type 3. Years of experience managing a healthcare budget 4. Training, credentials, education or degree

Students will begin their search for a healthcare professional on Monday of Week 2 and submit the required information by Sunday of Week 5 for approval.

Students may not move forward with the interview unless they have approval from the instructor for the healthcare professional selected for an interview.

Part 2: Interview Plan and Question Development

Begin Week 6

Submit Week 7

Total Time 4 hrs

Points 20

Before conducting an interview, it is important for you to prepare interview questions and prepare for the interview. The requirements for your interview planning and questions include:

1. Conduct an internet or library search for examples related to developing interview questions. Make sure to list your sources in a reference list.

2. You must have at least the following topics included in your interview plan and questions: a. The date and time you plan to conduct your interview b. Modality of the interview (i.e. in person or by phone) c. 2-3 Questions related to the following (you may simply ask for examples of some

information if confidential to the organization): i. Assets and liabilities ii. Revenue and Expenses iii. Staffing (ask about number of employees and number of shifts) iv. Reporting Tools and Performance Measure v. Budget Trends and Forecasting vi. Operating Budget management and planning vii. Capital Equipment (ask about high end equipment, estimated coast and life

span of use for final project paper.) viii. Reference list

3. Students begin the interview session planning and question development on Monday of week 6 and submit their interview plan and questions by Sunday of week 7.

4. Students cannot earn credit for the interview portion of the final project unless their interview plan and questions are approved by the instructor in week 7.

Part 3: Course Project Final Report

Begin Week 8

Submit Week 11

Total time 10 hours

During weeks 8-11 students will begin drafting their final project paper. During weeks 8-11 students will also complete their healthcare financial manager interview before composing and submitting the final report. In the final report students will serve as a consultant and trainer for the organization where the interview was conducted. The final course project paper will include the following elements and headings:

Title Page

Name or Origination Interviewed

Course and Assignment Name

Student Name

Date

Introduction and Background

This section will include information that was gathered from the interview and what you researched online or other locations about your organization. This should be a narrative background about the financial elements from your interview, it should not be a list of questions and responses. Integrate what you learned from the interview to provide a background and introduction about the organization that you are conducting a consulting and training proposal for related to improving their financial management strategies.

This section should be at least 3 pages in length.

System Improvements and Recommendations

In this section students will make recommendations and give some examples of new financial strategies using the healthcare organization’s financial information collected during the interview, located online or other source. The requirements for this section are listed below:

1. Locate online or in the library the following information to serve as training examples in your consultant and training recommendations:

a. A healthcare organization’s balance sheet. b. A healthcare organization’s expense and revenue statement that shows at least 2 years. c. Students May Not use course case studies or scenarios from the course assignments.

2. Including the financial information located from an external source provide your client with the following recommendations and examples for future use at their organization:

a. Calculation of the organization’s Net Worth. b. Developing an operating budget using trend analysis and common sizing. c. Annualizing staffing and calculating FTE’s

i. Use the current staffing for the organization where you conducted your interviewed as a starting point.

ii. As a recommendation to the client add 2 additional staff and 2 additional shifts to their current information in order to recommend expansion of their operations for more revenue development.

d. Capital Equipment purchase payback i. Choose 1 existing capital equipment item mentioned in your interview and show

the client how to calculate payback for a new equipment purchase. ii. Include a payback method table from your assignment, but not the financial

figures. iii. Students may create pretend financial figures for the equipment cost, cost to

operate, and cash flow, but the calculations must be correct in the table.

iv. Students may not use financial numbers, cases or exact figures from the course assignments or course.

Reference List

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