What are two sources of revenue that may assist you in financial forecasting for the organization?, homework help

Anonymous
timer Asked: Aug 21st, 2017
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Question Description

Scenario

Established in 1977, Krona Community Hospital is a 60-bed, acute care hospital located in the heart of Banconota County. With a staff of nearly 100 physicians and specialists, 400 employees and 75 volunteers, they offer a full range of health care services. They are accredited by The Joint Commission.

Nouveau Health, a private, not-for-profit health care chain, took over management Krona Hospital. Last year, state officials began to discuss Nouveau’s proposal to build a new, replacement hospital in Banconota County. The new facility would have 74 acute care beds, four observation rooms, four surgical operating rooms, one c-section room, a 24-hour emergency department, a maternity center, an intensive care unit, and an extensive outpatient center that will provide service such as diabetes treatment, physical therapy, speech pathology, and so forth.

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.

Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

Health care organizations obtain revenues through multiple funding sources. Unlike consumer products, health care organizations do not rely on the consumers of their services as the primary sources of revenue.

Complete the following:

  • Identify and discuss 2 sources of revenue that may assist you in the financial forecasting for the organization.
  • Identify and discuss 2 reimbursement methods that the organization may utilize, and explain what risk those methods may or may not bring to the organization.

Tutor Answer

Professor_Markins
School: UT Austin

It has been great working with you right from the start to the end. I wish you all the best in your academics.

Running head: HEALTH CARE ORGANIZATIONS

Healthcare Organizations
Name
Institutional affiliation
Instructor
Submission Date

1

HEALTH CARE ORGANIZATION S

2

Healthcare Organizations
Nouveau Health is a private and non-profit healthcare organization that is responsible
for the management of Krona Hospital. The Nouveau group proposed to build a new facility
that provides medical services to the Banconota County’s residents. There is a need for
assistance in forecasting, planning and financial management that promotes the success of the
organization’s project. The paper serves to discuss some of the available sources of revenue
and the risks associated with reimbursement techniques in the group.
Government revenue is a source of income for the organization. The government
earns most of its revenue through Medicaid and Medicare. Medicare benefits consist of
Medigap, Medicare Prescription Drug Plans (PDPs) and Medicare Advantage. Medicare
Advantage ref...

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