Healthcare Financial Management Assistance
In this unit, your assignment is to submit a research paper topic that gives basic background information about your healthcare facility and presents current budget information. The first part of this assignment is to decide which facility that you wish to analyze. Create your own facility name, background, and information about what type of healthcare facility it is. Give a brief description of your facility, including information about its history, its current financial situation, and whether it is for-profit or nonprofit.
Part two of the assignment for this unit is to outline the budget information for your facility for 2018. Include the revenues, costs, and profits (or losses). With this information, present a budget and actual results for the facility with the difference in dollar-terms and percentages based on the actual numbers. Explain the relationships of these. Based on this information, calculate and interpret the revenue, cost, and profit variances for the facility. You are creating this facility, so the budget information is up to you. For instance, if you want to concentrate on turning operations around in a struggling facility, that facility might face losses in its 2018 budget.
Part three of the assignment for this unit is to research the topics listed at the top of this assignment for the final research paper, list three of the five sources that you will use in your research paper, and give a brief description (e.g., two or three sentences) of each source. At least two of these must come from the CSU Online Library.
Your completed research paper topic should be a minimum of two pages in length.
This is the healthcare facility I made up. The details can be changed
Healthcare Facility Name: OMOSIS HEALTHCARE INSTITUTE
Background: Omosis Healthcare Institute founded in 2002 it is headquartered in Brooklyn, New York. It is a short-term acute care facility. They operate jointly under an organization formed by the Cedar Health System in Beaumont, Texas. The joint operating company is owned by Ascension Health Inc. The Chief Executive Officer and President is Kyle Parker and the Chief Operating Officer is Thedeaus Mitchell.
Budget Information: Omosis Healthcare Institute earned $173 million in annual revenue and reported 1.1 billion in assets.
Financial Situation: They provide financial support to established organizations and community grants to partners who serve low income families and the uninsured. Their short-term grants include services to patients and funding for expansion
Information: It is a not-for-profit organization
References
Arduino, K. (2018, May). healthcare capital markets outlook short-term opportunities versus long-term uncertainty: Healthcare organizations are entering a time of uncertainty in the capital markets due to policy shifts, yet the current climate remains conducive to maintaining the. Healthcare Financial Management, pp. 37, 8. Retrieved from http://eds.b.ebscohost.com.libraryresources.columbiasouthern.edu/eds/detail/detail?vid=2&sid=a87178f8-4257-4b03-9701-7be70f721729%40pdc-v-sessmgr01&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#AN=edsinc.A540902470&db=edsinc
Bruton, P. W. (2018). the rise, fall, and possible return of variable-rate demand bonds: Variable-rate demand bonds, wildly popular in the high-inflation period spanning the 1960s through the 1980s, could be returning as an attractive financing option for healthcare organizati.
Healthcare Financial Management, 72(5), p. 5. Retrieved from http://eds.b.ebscohost.com.libraryresources.columbiasouthern.edu/eds/detail/detail?vid=3&sid=a87178f8-4257-4b03-9701-7be70f721729%40pdc-v-sessmgr01&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#AN
Gapenski, L. C., & Reiter, K. L. (2016). Healthcare finance: An introduction to accounting and financial management (6th ed.). Health Administration Press.