HSA 525 Flashcards
STRAYER HSA 525 Week 4 Assignment 1 Financial Statement Analysis NEW
STRAYER HSA 525 Week 4 Assignment 1 Financial Statement Analysis NEW
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Assignment 1: Financial Statement Analysis
Due Week 4 and worth 200 points
Select one (1) of the following publically traded health care organizations: Universal Health Services (NYSE: UHS) or Health Management Associates (NYSE: HMA).
Suppose you are a newly appointed CFO of your chosen health care organization. One of your first tasks is to conduct an internal financial analysis of the organization. Conduct a brief financial analysis and review of the chosen company’s financial statements for at least three (3) consecutive years. After conducting the analysis, interpret the data contained within the statements.
Write a three to four (3-4) page paper in which you:
Based on your review of the financial statements, suggest a key insight about the financial health of the company. Speculate on the likely reaction to the financial statements from various stakeholder groups (employee, investors, shareholders). Provide support for your rationale.
Identify the current industry trend that has the most significant impact on your chosen organization’s financial performance. Indicate the trend’s impact on the financial performance of the organization. As the CFO, suggest at least one (1) way that you might minimize the impact of the trend on the organization.
As the CFO, suggest one (1) key strategy that you might use in order to improve the financial performance of the organization. Recommend an approach to implement the suggested strategy. Provide support for your recommendation.
Use at least four (4) quality academic resources. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Evaluate the financial statements and the financial position of health care institutions.
Analyze the role of important financial reporting statements – income statement, balance sheet, and statement of cash flows – and explain how they relate to one another and to the underlying sources of data.
Use technology and information resources to research issues in health financial management.
Write clearly and concisely about health financial management using proper writing mechanics.
STRAYER HSA 525 Week 4 Discussion Inventory Analysis and Optimizing Staffing NEW
STRAYER HSA 525 Week 4 Discussion Inventory Analysis and Optimizing Staffing NEW
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“Inventory Analysis and Optimizing Staffing” Please respond to the following:
• Recommend a strategy for financial administrators to balance the tension between having inventory on hand when it is needed versus the carry cost to the organization. Provide support for your recommendation.
• Assume that you are a health care administrator in a hospital, and you are responsible for staffing levels. Suggest an approach to staffing for 24/7 coverage that optimizes patient care, minimizes cost, and produces the highest level of employee satisfaction. Provide support for your rationale.
STRAYER HSA 525 Week 3 Homework 2 Ex 6-1, Ex 6-2, Ex 7-1, Ex 7-2 NEW
STRAYER HSA 525 Week 3 Homework 2 Ex 6-1, Ex 6-2, Ex 7-1, Ex 7-2 NEW
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Assignment Exercise 6–1: Allocating Indirect Costs
1. Compute the costs allocated to cost centers “Clerical Salaries,” “Administrative Salaries,” and “Computer Services” using the new allocation bases shown below. Use worksheet #1 that replicates the set up in Table 6–2. Total the new results. The new allocation bases are:
Assignment Exercise 6–2: Responsibility Centers
Choose among the Case Study in Chapter 27, the clinic in Mini-Case Study 2, or the Metropolis Health System information as contained in its Case Study and the Appendix that contains its financial statements. Designate the responsibility centers and the support centers for the organization selected. Prepare a rationale for the structure you have designed.
Assignment Exercise 7–1: Analyzing Mixed Costs
Initial Calculations
Assignment Exercise 7–2: Calculating the Contribution Margin
The Mental Health program for the Community Center has just completed its fiscal year end. The program director determines that his program has revenue for the year of $1,210,000. He believes his variable expense amounts to $205,000 and he knows his fixed expense amounts to $1,100,000.
1. Compute the contribution margin for the Community Center Mental Health Program.
2. What does the result tell you about the program?
STRAYER HSA 525 Week 1 Discussion 1Financial Management NEW
STRAYER HSA 525 Week 1 Discussion 1Financial Management NEW
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“Financial Management” Please respond to the following:
• Suggest one (1) key way in which the role of ethics in managerial accounting differs from the role of ethics in financial accounting. Indicate the role that you believe is the most significant within a health care organization. Provide support for your rationale.
• Create an argument that explains why financial managers should be concerned with quality initiatives in the health care organization. Provide at least two (2) specific examples of quality initiatives in a health care organization with which you are familiar.
STRAYER HSA 525 Week 3 Discussion 1 Cost Control NEW
STRAYER HSA 525 Week 3 Discussion 1 Cost Control NEW
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“Cost Control” Please respond to the following:
• Use the Internet or Strayer Databases to research “cost escalation” within the health care segment. Next, determine one (1) key driver of health care cost escalation. Indicate one (1) strategy health care managers can implement to reduce costs in the future. Provide support for your rationale.
• Assume that you are a financial administrator of a hospital, and you are responsible for reducing costs (e.g., fixed, variable, semi-fixed, etc.) for the facility. Determine the most significant cost within the hospital, and recommend a strategy for reducing this cost 10% over the next year. Provide support for your strategy.
STRAYER HSA 525 Week 7 Homework 6 Ex 15-1, 15-2, 15-3, and 15-4, Ex16-1 NEW
STRAYER HSA 525 Week 7 Homework 6 Ex 15-1, 15-2, 15-3, and 15-4, Ex16-1 NEW
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Assignment Exercise 15–1: Budgeting
Select an organization: either from the Case Studies in Chapters 27–28 or from one of the Mini-Case Studies in Chapters 29–31.
Required
1. Using the organization selected, create a budget for the next fiscal year. Set out the details of all assumptions you needed in order to build this budget.
2. Use the “Checklist for Building a Budget” (Exhibit 15–2) and critique your own budget.
Assignment Exercise 15–2: Budgeting
Find an existing budget from a published source. Detail should be extensive enough to present a challenge.
1. Using the existing budget, create a new budget for the next fiscal year. Set out the details of all the assumptions you needed in order to build this budget.
2. Use the “Checklist for Building a Budget” (Exhibit 15–2) and critique your own effort.
3. Use the “Checklist for Reviewing a Budget” (Exhibit 15–3) and critique the existing budget.
Assignment Exercise 15–3: Transactions Outside the Operating Budget
Review Figure 15–2 and the accompanying text.
Metropolis Health System (MHS) has received a wellness grant from the charitable arm of an area electronics company. The grant will run for 24 months, beginning at the first of the next fiscal year. Two therapists and two registered nurses will each be spending half of their time working on the wellness grant. All four individuals are full-time employees of MHS. The electronics company has only recently begun to operate the charitable organization that awarded the grant. While they have gained all the legal approvals necessary, they have not yet provided the manuals and instructions for grant transactions that MHS usually receives when grants are awarded. Consequently, guidance about separate accounting is not yet forthcoming from the grantor.
Assignment Exercise 15–4: Identified Versus Allocated Costs in Budgeting
- The function I chose from the organizational chart is Finance.
- Make up your own organization chart for other employee levels within the function you have chosen.
- Now make up another chart that indicates the operating budget costs you think would be mostly identifiable for the department or unit or division you have chosen and what other operating budget costs you think would be mostly allocated to it.
Assignment Exercise 16–1: Capital Expenditure Proposals
Ted Jones, the Surgery Unit Director, is about to choose his strategy for creating a capital expenditure funding proposal for the coming year. Ted’s unit needs more room. The Surgery Unit is running at over 90% capacity. In addition, a prominent cardiology surgeon on staff at the hospital wants to create a new cardiac surgery program that would require extensive funding for more space and for new state-of-the-art equipment. The surgeon has been campaigning with the hospital board members.
STRAYER HSA 525 Week 2 Discussion Inflows and Revenue Management NEW
STRAYER HSA 525 Week 2 Discussion Inflows and Revenue Management NEW
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“Inflows and Revenue Management” Please respond to the following:
• Determine a key difference between a fee-for-service plan and an episode of care payment plan, and indicate the plan that you believe to be most advantageous for the majority of patients. Provide support for your rationale.
• * From the scenario, determine one (1) key factor that has a negative impact on revenue. Recommend a revenue strategy for the organization in the scenario to improve its revenue cycle management. Provide support for your recommendation.
STRAYER HSA 525 Week 2 Homework 1 Ex 4-1, Ex 4-2, Ex 5-1, Ex 5-2 NEW
STRAYER HSA 525 Week 2 Homework 1 Ex 4-1, Ex 4-2, Ex 5-1, Ex 5-2 NEW
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HSA 525 Week 2 Homework 1 Ex 4-1, Ex 4-2, Ex 5-1, Ex 5-2 NEW
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Exercise 4–1: Contractual Allowances Assignment Exercise 4–1: Contractual Allowances Physician Office Revenue for Visit Code 99214 has a full established rate of $72.00. Of ten different payers, there are nine different contracted rates, as follows: Contracted Payer Rate FHP $35.70 HPHP 58.85 MC 54.90 UND 60.40 CCN 70.20 MO 70.75 CGN 10.00 PRU 54.90 PHCS 50.00 ANA 45.00 Rates for illustration only. Required 1. Set up a worksheet with four columns: Payer, Full Rate, Contracted Rate, and Contractual Allowance. 2. For each payer, enter the full rate and the contracted rate. 3. For each payer, compute the contractual allowance. The first payer has been computed below: Full Contracted Contractual Payer Rate (less) Rate = Allowance FHP $72.00 $35.70 $36.30
Assignment Exercise 4–2: Revenue Sources and Grouping Revenue The Metropolis Health System has revenue sources from operations, donations, and interest income. The revenue from operations is primarily received for services. MHS groups its rev-enue first by cost center. Within each cost center the services revenue is then grouped by payer. Required 1. Set up a worksheet with individual columns across the top for six revenue sources (pay-ers): Medicare, Medicaid, Other Public Programs, Patients, Commercial Insurance, and Managed Care Contracts. 2. Certain situations concerning the Intensive Care Unit and the Laboratory are described below. Set up six vertical line items on your worksheet, numbered (1) through (6). Six situa-tions are described below. For each of the six situations, indicate its number (1 through 6) and enter the appropriate cost center (either Intensive Care Unit or Laboratory). Then place an X in the column(s) that represents the correct revenue source(s) for the item. The six situations are as follows: (1) ICU stay billed to employee’s insurance program. (2) Lab test paid for by an individual. (3) Pathology work performed for the state. (4) ICU stay billed to member’s health plan. (5) ICU stay billed for Medicare beneficiary. (6) Series of allergy tests run for eligible Medicaid beneficiary.
Assignment Exercise 5–1: Grouping Expenses by Cost Center The Metropolis Health System’s Rehabilitation and Wellness Center offers outpatient therapy and return-to-work services plus cardiac and pulmonary rehabilitation to get people back to a normal way of living. The Rehabilitation and Wellness Center expenses include the following: • Nursing Salaries • Physical Therapist Supplies • Physical Therapist Salaries • Occupational Therapist Supplies • Occupational Therapist Salaries • Cardiac Rehab Supplies • Cardiac Rehab Salaries • Pulmonary Rehab Supplies • Pulmonary Rehab Salaries • Training Supplies • Patient Education Coordinator Salary • Clerical Office Supplies • Nursing Supplies • Employee Education Required 1. Decide how many cost centers should be used for the above expenses at the Center. 2. Set up a worksheet with individual columns across the top for the cost centers you have chosen. 3. For each of the expenses listed above, indicate to which of your cost centers it should be assigned.
Assignment Exercise 5–2 Required Find a listing of expenses by diagnosis or by procedure. The source of the list can be internal (within a health care facility of some type) or external (such as a published article, report, or survey). Comment upon whether you believe the expense grouping used is appropriate. Would you have grouped the expenses in another way?
STRAYER HSA 525 Week 1-11 All Homework, Assignment, Discussion Question NEW
STRAYER HSA 525 Week 1-11 All Homework, Assignment, Discussion Question NEW
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HSA 525 Week 4 Assignment 1 Financial Statement Analysis
HSA 525 Week 6 Assignment 2 Using Financial Ratios to Assess Organizational Performance
HSA 525 Week 10 Assignment 3 Post-Merger Analysis
HSA 525 Week 1 Discussion 1 Financial Management
HSA 525 Week 2 Discussion Inflows and Revenue Management
HSA 525 Week 3 Discussion 1 Cost Control
HSA 525 Week 4 Discussion Inventory Analysis and Optimizing Staffing
HSA 525 Week 5 Discussion Managed Care Contracting and Ratio Analysis
HSA 525 Week 6 Discussion Using Ratios as Performance Indicators and Inflation and Health Care Costs
HSA 525 Week 7 Discussion The Budgeting Process and Capital Investment Decisions
HSA 525 Week 8 Discussion Contract Negotiations and Risks and Operating Margins
HSA 525 Week 9 Discussion Leasing Equipment
HSA 525 Week 10 Discussion Strategic Planning and Business Plan
HSA 525 Week 11 Discussion Future Developments and Future of Financial Management
HSA 525 Week 2 Homework 1 Ex 4-1, Ex 4-2, Ex 5-1, Ex 5-2
HSA 525 Week 3 Homework 2 Ex 6-1, Ex 6-2, Ex 7-1, Ex 7-2
HSA 525 Week 4 Homework 3 Ex 8-1, Ex 8-2, Ex 8-3, Ex 8-4, Ex 9-1, Ex 9-2
HSA 525 Week 5 Homework Ex 10-1, 10-2,10-3, Ex 11-1, 11-2, 11-3, Ex 12-1, 12-2, 12-3, 12-4, 12-5
HSA 525 Week 6 Homework 5 Ex 13-3, 13-4.1, 13-4.2, Ex 14-2, 14-3
HSA 525 Week 7 Homework 6 Ex 15-1, 15-2, 15-3, and 15-4, Ex16-1
HSA 525 Week 8 Homework 7 Ex 17-1, 17-2, 17-3, Ex 18-1, 18-2, 18-3
HSA 525 Week 9 Homework 8 Ex 20-1, Ex 21-1, 21-2, 21-3
STRAYER HSA 525 Week 10 Discussion Strategic Planning and Business Plan NEW
STRAYER HSA 525 Week 10 Discussion Strategic Planning and Business Plan NEW
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HSA 525 Week 10 DiscussionStrategic Planning and Business Plan NEW
Strategic Planning and Business Plan” Please respond to the following:
• Ascertain the importance of strategic planning for an organization. Next, suggest one (1) strategy you may use to structure the strategic planning session for a not-for-profit mid-sized health organization that is competing with several for-profit facilities
• in the area. Then determine your approach to communicate the mission, vision, and value statements for the strategic planning. Provide a rationale for your response.
• Use the Internet or Strayer databases to research articles on business plan creation within health organizations. Next, based on your research and analysis, recommend three (3) best practices of business plan creation and support your response.
STRAYER HSA 525 Week 9 Discussion Leasing Equipment NEW
STRAYER HSA 525 Week 9 Discussion Leasing Equipment NEW
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“Leasing Equipment” Please respond to the following:
• Suggest one (1) key economic factor that motivates leasing as an option in acquiring an asset. Explain the potential asymmetries that may exist where leasing may be beneficial to both the lessors and the lessee.
• Determine one (1) significant benefit to an organization that decides to lease an asset that conventional lease analysis evaluation reveals has a negative Net Advantage to Leasing (NAL). Provide a real-life scenario that supports your answer.
STRAYER HSA 525 Week 6 Assignment 2 Using Financial Ratios to Assess Organizational Performance NEW
STRAYER HSA 525 Week 6 Assignment 2 Using Financial Ratios to Assess Organizational Performance NEW
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Assignment 2: Using Financial Ratios to Assess Organizational Performance
Due Week 6 and worth 240 points
Using the financial statements from your selected health care organization in Assignment 1, develop a financial plan for the next three (3) years.
Write a four to five (4-5) page paper in which you:
1. Suggest the financial ratio that most financial analysts would use to evaluate the financial condition of the company. Provide support for your rationale.
2. Speculate on the organization’s ability to meet its financial obligations as they come due. Provide support for your rationale.
3. Based on your ratio analysis, determine whether the profitability trends are favorable or unfavorable and explain your rationale.
4. Using financial ratio analysis, predict whether or not the company will be viable in five (5) years based on its performance over the past three (3) years. Provide support for your prediction.
5. Use at least two (2) quality academic resources. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
• Evaluate the financial statements and the financial position of health care institutions.
• Describe the overall planning process and the key components of the financial plan.
• Use technology and information resources to research issues in health financial management.
STRAYER HSA 525 Week 8 Discussion Contract Negotiations and Risks and Operating Margins NEW
STRAYER HSA 525 Week 8 Discussion Contract Negotiations and Risks and Operating Margins NEW
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“Contract Negotiations and Risks and Operating Margins” Please respond to the following:
• In the scenario, the contract negotiations between North Creek Healthcare and the community hospital concluded with an agreement on non-financial (legal) terms. Suggest the most critical element of the contract and the impact to the short-term and long-term operational strategy of a community hospital. Indicate the potential implications to the hospital’s financial targets.
• Imagine you work for a hospital where the operating margins have been consistently below national norms for the past three (3) years. Discuss one (1) key driver of the below average performance. Suggest one (1) strategy to improve the future management of the driver that you’ve discussed.
STRAYER HSA 525 Week 8 Homework 7 Ex 17-1, 17-2, 17-3, Ex 18-1, 18-2, 18-3 NEW
STRAYER HSA 525 Week 8 Homework 7 Ex 17-1, 17-2, 17-3, Ex 18-1, 18-2, 18-3 NEW
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Assignment Exercise 17–1: Variance Analysis
Greenview Hospital operated at 120% of normal capacity in two of its departments during the year. It operated 120% times 20,000 normal capacity direct labor nursing hours in routine services and it operated 120% times 20,000 normal capacity equipment hours in the laboratory. The lab allocates overhead
1. Set up a worksheet for applied overhead costs and volume variance with a column for Routine Services Nursing and a second column for Laboratory.
Set up a worksheet for actual overhead costs and budget variance with a column for Routine Services Nursing and a second column for Laboratory
2. Set up a worksheet for volume variance and budget variance totaling net variance with a column for Routine Services Nursing and a second column for Laboratory.
Assignment Exercise 17–2: Three-Level Revenue Forecast
Assumptions: for the base level (most likely) revenue forecast, assume $200 per procedure times 4 procedures per day times 5 days’ equals 20 procedures per week times 50 weeks per year equals 1,000 potential procedures per year.
For the best case revenue forecast, assume an increase in volume of one procedure per day average, for an annual increase of 250 procedures (5 days per week times 50 weeks equals 250). (The best case is if the practice gains a particular managed care contract.)
For the worst case revenue forecast, assume a decrease in volume of 2 procedures per day average, for an annual decrease of 500 procedures. (The worst case is if the practice loses a major payer.)
Audiologists were designated as “eligible for physician and other prescriber incentives” as discussed elsewhere. Thus the new service line was a logical move.
Assignment Exercise 17–3: Target Operating Income
Acme Medical Supply Company desires a target operating income amount of $100,000, with assumption inputs as follows:
• • Desired (target) operating income amount = $100,000
• • Unit price for sales = $80
• • Variable cost per unit = $60
• • Total fixed cost = $60,000
Compute the required revenue to achieve the target operating income and compute a contribution income statement to prove the totals.
Assignment Exercise 18–1: Estimate of Loss
You are the practice manager for a four-physician office. You arrive on Monday morning to find the entire office suite flooded from overhead sprinklers that malfunctioned over the weekend. Water stands ankle-deep everywhere. The computers are fried and the contents of all the filing cabinets are soaked. Your own office, where most of the records were stored, has the worst damage.
Assignment Exercise 18–2: Estimate of Replacement Cost
The landlord carries contents insurance that should cover the damage to the furnishings, equipment, and to the computers, and the insurance company adjuster will come tomorrow to assess the furnishings and equipment damage. However, your boss is sure that the insurance settlement will not cover replacement costs. Consequently, you have been instructed to prepare an estimate of what has been lost and/or damaged plus an estimate of what the replacement cost might be. How would you go about it? What would your summary of these losses look like?
Assignment Exercise 18–3: Benchmarking
Review the chapter text about benchmarking.
Required
1. Select an organization: either from the Case Studies in Chapters 27–28 or from one of the Mini-Case Studies in Chapters 29–31.
2. Prepare a list of measures that could be benchmarked for this organization. Comment on why these items are important for benchmarking purposes.
STRAYER HSA 525 Week 5 Discussion Managed Care Contracting and Ratio Analysis NEW
STRAYER HSA 525 Week 5 Discussion Managed Care Contracting and Ratio Analysis NEW
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“Managed Care Contracting and Ratio Analysis” Please respond to the following:
• From the scenario, interpret the operating indicators used to analyze the financial performance of the organization. Indicate specific ways in which this information will help management improve the performance of the organization. Provide support for your rationale.
• Assume that you are a hospital administrator, and one of your responsibilities is selecting financial ratios to be included on your management dashboard. Determine the two (2) most critical financial ratios for you to monitor at your facility, and indicate how each of these ratios would help you assess the current performance of your facility. Provide support for your rationale.
