RW Healthcare

Anonymous
timer Asked: Feb 5th, 2019
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Question Description

ALL UNITS HAVE TO BE COMPLETED, please put each unit on a separate word document

400-600 WORDS FOR EACH SUMMARY, APA FORMATTING

UNIT 1

As a member of the finance team, you have been asked to forecast the upcoming year’s operational budget for Krona Community Hospital. Click here for last year’s budget. After reviewing specific data, internal input, and external input from various sources, you find that the executive management team would like the budget to reflect the following:

  • 10% increase in inpatient revenue
  • 15% increase in outpatient revenue
  • 5% increase in pharmacy revenue
  • 15% increase in home health and hospital revenue
  • 10% increase in payroll and benefits

Additionally, provide discussion on the following:

  • How do you think that revenue would increase in each of the areas? Think outside of the box, and perform research to determine current trends in those areas.
  • Why would there be a forecasted need to increase payroll and benefits?
  • Explain the role of key leadership in the budgeting process, from the chief executive officer down through to the staff level of a financial analyst.

UNIT 2

  • Define value-based models of payment.
  • Describe an accountable care organization payment system.
  • Define bundled care.
  • Discuss how value-based, accountable care, and bundled payments will require hospitals to manage the following post-acute care environments:
    • Outpatient care (e.g., therapy, nursing, and physician)
    • Home health
    • Skilled nursing facility admission

UNIT 3

You have been promoted to a member of the management team in Krona’s financial department. You have hired a new staff member who will assist you in preparing materials for the next Board of Directors meeting, in which the annual financial reports will be presented. Complete the following:

  • Prepare an Executive Summary to the next Board of Director Meeting on one of the following topics:

Discuss why a service line of your choice should be discontinued due to reimbursement and current demographic trend in your area.

Discuss why a service line should be implemented to increase revenue based on reimbursement changes and current demographic trend in your area.

Discuss why expansion of outpatient services will improve revenue in the current Accountable Care Organization or Value Based Service models delineated by CMS.

UNIT 4

You are a staff member in the finance department at Nouveau Health, whose sole responsibility is to advance the success of the organization through assisting in planning, forecasting, and finance management.

Complete the following:

  • Prepare next year’s financial plan and operational budget.
  • Note: Keep in mind that the budget you created for Unit 1 did not take into account the growth of the new facility. The CEO has asked that you expand that budget and provide a finalized budget that will take into account the new services offered. The CEO has stated that there is $3 million that you can incorporate in to the budget for additional staffing, services, maintenance, and so forth.

UNIT 5

  1. Provide a diagram, or list the major steps in the traditional revenue cycle.
  2. Discuss how primary payer, secondary payer, deductibles and co-pays affect what is billed.
  3. Discuss how bundled care will change the traditional billing cycle.

Tutor Answer

Saradav
School: UIUC

Attached.

Running head: PAYENT SYSTEM UNIT 2

1

Payment System Unit 2
Name
Institutional Affiliation

Date

PAYMENT SYSTEMS UNIT 2

2
Payment Systems Unit 2

Recently it is of concern that the healthcare expenditures are growing more rapidly than
the developing economy. Thus the quality of health care in the countries are falling short in a
couple of locations and areas. The value-based payment module is a notion by which purchasers
/benefactors of healthcare i.e. the authorities, customers and the employers as well as the payers
public and private companies, grasp the health and well-being supply system at large making
clinics, etc. responsible for the value and the price of health-care. The main aim of the module is
to ensure there is the maintenance of productivity and value in the health care system. Nonetheless,
these models give a connection to their supplier performance to the suppliers’ expense.
Accountable care organizations (ACOs) are certain groups made up of health care benefactors
who have approved and accepted the responsibility to answer for the price and value worth of any
health care for the recipients' groups. Some of the main objectives set forth by the ACOs include
coordination improvement (Robinson, 2010) of the health care value and its quality, maintenance
of recipient selection on their preferred provider, reducing of health errors and reducing of
pointless services offered. Their payment scheme is aimed at improving their set goals and
focusing on the residents with regards to health administration.
Bundled care is a provisional service supplier and money type of model that is intended to
encourage superior incorporation of human’s well- being delivery, competent care as well as
upgrading of the results and capability of the sick people (Mongann, 2016). Bundled care
approaches the cluster of health providers such as the medical PR actioners, nurses who tend to
receive some amount of payment that covers all the medical needs of a specific patient’s complete
band of care for just a precise medical condition issue.

PAYMENT SYSTEMS UNIT 2

3

In conclusion, since Bundled payment is paid only once and covers particular health care of an
individual for a certain period of time it enables the nursing care management leaders to have a
comprehensive view of coordinating care for the patients across the spectrum. The accountable
care organizations improve the health care system by providing leeway for the outpatients to get
the best medical services. The organization has provided an opportunity for healthcare providers
to exercise their rights and responsibilities away from the hospitals. Thus they are rapidly
encouraged to do home care for the outpatients. This is for the sake of decreasing the overall
infirmary’s costs.
The value-based payment module has become a flexible strategy that aims at adapting to
different medical environments. It encourages better decision making in the nurse's admissions
where they are subjected to certain performance risks and how versatile they can be. These
modules and schemes provide an analysis background for assessing the medical current state of
the patients and how well health care can be delivered (Dummit, 2016). This provides a wider
scope of better coordination in terms of outpatient care and home health and communication
towards the patients involved.

PAYMENT SYSTEMS UNIT 2

4

References
Dummit LA, Kahvecioglu D, Marrrufo G et. Al (2016). Association between hospital participation
in a Medicare bundled payment initiative and payments and quality out...

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Review

Anonymous
awesome work thanks

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