Health Care Finance, health and medical assignment help

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For your Final Project, you will create a capital investment plan proposal utilizing the health care business you selected in Week One as well as the answers to the Basic Information questions. Refer to the websites for Sample Business Plans. Create a capital investment plan proposal for your health care company that includes the following sections:



  1. Executive Summary: This section is a concise, one- to two-page/slide summary of a business report. It restates the purpose of the report, highlights the major points of the report, and describes any results, conclusions, or recommendations from the report.
  2. Service and/or Equipment Description: This section should be at least one page/slide. Describe the service or equipment suggested in the business proposal and the reasons why this is socially and politically beneficial for the community in meeting consumer demands.
  3. Establishing the Team: This section should be at least one page/slide and include a chart that illustrates the structure of the capital investment team. In addition, provide a summary of your team (background, responsibilities, etc.).
  4. Key Strategic Goals: This section should be at least one page and include specific funding sources for the capital investment.
  5. Financial Analysis: Projected income statement and types of assumptions made to compute the figures.
    • Typical income statement assumption information requirements. Initial investment
    • What types of revenue will be generated from the capital investment? Will insurance reimburse? If so, discuss the impact of the various reimbursements (e.g., Medicare, Medicaid, private, or self-pay).
    • How many services will be offered to produce the revenue (by month)? Look at patient days.
    • How much labor will be required (FTEs)?
    • What will the labor cost?
    • How many (and what types of) supplies and/or devices will be required to offer the service?
    • What will the supplies, drugs, and/or devices cost?
    • How much space will be required? Are renovation costs involved?
    • What will the required space occupancy cost?
    • What is the life of the equipment (if applicable) and the cost of maintaining the equipment?
      • Cash flows:
      • Payback period
      • Internal rate of return
      • Assume discount rate of 8% and 6% respectively for comparison purposes.

    Submit your proposal using a presentation tool such as PowerPoint. Your Capital Investment Plan Proposal should include a title page/slide and table of contents (section names and page numbers). In addition, include detailed speaker notes that are grammatically correct. You may also submit a written report to go along with your presentation, but you should still include detailed speaker notes.
    Completing the Final Project

    The Final Project:
    1. Must be 8 to 10 double-spaced pages/slides in length, and formatted according to APA style as outlined in the Ashford Writing Center.
    2. Must include a title page/slide with the following:
      1. Title of project
      2. Student’s name
      3. Course name and number
      4. Instructor’s name
      5. Date submitted
    3. Must begin with a succinct thesis statement.
    4. Must address the topic of the project with critical thought.
    5. Must end with a conclusion that reaffirms your thesis.
    6. Must use at least four scholarly sources that are cited according to APA format

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Running head: HEALTH CARE FINANCE Health Care Finance Richard L Williams HCA 312: Health Care Finance March 19, 2017 Instructor: Kurlyn Monnie-Daniels 1 HEALTH CARE FINANCE 2 Health Care Finance There has been an increasing expenditure by the government on medical services between the years 1960 and 2010. The statistics show the great need of proper financial management in hospitals to enable citizens to enjoy the best health services at the most convenient and affordable prices. The Chief Financial Officer (CFO) is the most senior financial officer in the hospital. He answers to the Chief Executive Officer. It is an important position in the financial system of a hospital, and many decisions concerning the hospital’s funds and money flow are determined by the CFO. The treasurer of a hospital is under the CFO, and two positions would be very viable if included below the treasurer, a bursar and an accounts clerk. These are individuals concerned with the direct handle of inpatient and outpatient financial records together with their accounts. The CFO who is on the Finance Committee Board and Chief Operating Officer (COO) are the positions that would be most directly involved with capital investment decisions. The CFO has the most direct and detailed access to all financial records of a hospital. The hospital’s financial status can at any one point be spelled out by the CFO. The COO also has the detailed outlook of the hospital’s operations regarding labor, inventories, and infrastructure. The CFO and COO would, therefore, be the most appropriate positions from which capital investments can be made. The two positions relate the operations and finance, which are the core determinants in making any financial investment. In a navy military hospital, financial records and accounts are very crucial. Even though the government is the primary financier, the matter of medical cover and insurance policies are HEALTH CARE FINANCE 3 incorporated a lot in record keeping. The managerial outline is not very different from the civilian hospitals and health centers, and there also is significant harmonization of various departments. In a Navy hospital, the CFO is the most senior in the financial department and is liable for all financial accounting activities and records. Most decisions are, however, made in committees and an individual officer can hardly have sole decision-making power. The system is set to make sure there is a liability and, therefore, no misappropriations in money or facilities. A capital investment in a navy hospital would mainly be aimed at increasing the revenue of the hospital to enable the hospital run on least government reliance. A significant capital investment would also lead to better medical services to soldiers and the individuals enrolled in that system. Capital investment would most effectively be drafted by the COO and CFO, at an elementary level. Due to the many procedures and protocols involved in government-related facilities, whatever the COO and CFO draft would have to be taken through several committees and panels for further decision making. Despite the many beauracracies involved in decision making at the Navy hospital, the COO and CFO still stand out as the main players and determinants in both the drafting and implementation of a viable capital investment plan. Health is a major key to a thriving nation without noting the fact that it is a basic need for every individual. In the Navy hospital where I work, matters of health are way important since we are mainly concerned with the health of soldiers. The topic of finance and money is also crucial in health since facilities and labor are required to be able to provide top-notch health services. Proper financial planning and execution in hospitals are critical since it is what determines the efficiency in providing medical services. The senior staff in the management of hospitals has the biggest responsibility of ensuring that financial planning is done well and executed in the most effective way so that inpatients and outpatients get the best medical care. HEALTH CARE FINANCE 4 Reference Gingerich, A. (2014). Financial Management in Healthcare. Hoboken, NJ: John Wiley and Sons. Running head: CAPITAL INVESTMENT PLAN Capital Investment Plan Richard L Williams HCA 312: Health Care Finance April 10, 2017 Instructor: Kurlyn Monnie-Daniels 1 CAPITAL INVESTMENT PLAN 2 Capital Investment Plan Executive Summary Decisions in capital investment are important, as they make sure that there is the identification of the capacity of the hospitals and the strategies that should be used in making sure that there is the maximization of the returns that the hospital gets. In Naval Hospital, the use of planning in the capital decisions made assists in improving the systems of the hospital and in ensuring that there is the allocation of resources to the projects that helps in increasing the competitive advantage of the hospital. The manifestation of the competition in the environment is important as it ensures that there is the focus on the improved technology to assist in improving the quality of the services of the hospital (Yu & Maula, 2016). It makes it necessary to ensure that there is the identification of the tools that Naval uses in the capital investment decisions and the frameworks that assist in improving the management of the hospital. It also ensures that there is the prioritization of the different projects as it is through this that there is focus on the utilization of efficiency created in the hospitals. The approval process of the projects is important as it helps the Naval Hospital management to focus on the issues that continue to affect the hospital and the best strategies to use to improve the functioning of the organization. The demand for the services in the hospital guides the operation of the capital investment decisions, as it is through this that there is the implementation of the tracking process to assist in the management of the processes taking place in the organization. In the enhancing of the efficiency of the organization, Naval Hospital is implementing new operation systems to assist in the management of the patients and the functions of the organization. CAPITAL INVESTMENT PLAN 3 Equipment Description The Naval hospital is in the process of changing the core system in the operation of the hospital and this is meant to help in the management of the operations of the company. It helps in increasing efficiency and ensuring that there is increased competitiveness in the market (Kohli, Devaraj & Ow, 2012). The system will make sure that there is the coordination in different departments and that there is the management of the patients’ information and the enhancement of confidentiality. Looking at the healthcare environment, there is need to ensure that the systems are up to date as it assists in the saving of time and taking care of the patients in the shortest time possible. It is important that there is the identification of the critical success factors in the implementation process as it is through this that the decisions on the implementation of the systems are made. It also ensures that there is the focus on the needs of the hospital in the coordination of the different activities that the company engages. It is through this that there is the creation of awareness on the operation of the hospital. The increase in the efficiency of operation helps in improving the profitability of the organization as more people will appreciate the services offered and the creation of understanding between the patients and the doctors as there is easy access to their information. The evolution of the systems also makes it necessary for the Naval Hospital to make adjustments, as it is through this that there is an improvement in the reporting manner. CAPITAL INVESTMENT PLAN 4 Establishing the Team Capital Investment Committee Chief Executive Officer Chief Operating Officer Chief Finance Officer Management committee; Researchers Risk managers IT personnel The diagram shows the parties that are responsible for the implementation of the system change over and in making the capital investment decisions in the company. The capital investment committees of the Naval Hospital are the last policy makers in the implementation of the new systems, and their role is to ensure that there is the addition of value to the organization. The management commitment involves the IT personnel that will be in charge of the system, and their role is to report to the management on the different enhancements that should be made on the systems. The researchers are important as they ensure that there is the comparison of the operation of the system with the other healthcare organization and this helps in determining the competitive advantage that the hospital will gain when they implement the system. The risk managers also play a role in ensuring that the dangers of embracing the systems are detected and the mitigation factors that they should embrace. The management committee, CAPITAL INVESTMENT PLAN 5 researchers, and the risk managers all report to the capital investment committee that weighs the advantages of the adoption of the system and the financing that the company gets. There is the identification of the needs of the hospital and the payback period the organization will recover its initial investment. It is through this that there is the analysis of the issues that the company is likely to face and the benefits of the adoption of the system in increasing the efficiency of the organization. CAPITAL INVESTMENT PLAN 6 References Kohli, R., Devaraj, S., & Ow, T. T. (2012). Does Information Technology Investment Influence A Firm's Market Value? A Case Of Non-Publicly Traded Healthcare Firms. Mis Quarterly, 36(4), 1145-1163. Yu, L., & Maula, M. (2016). Local Partnering In Foreign Ventures: Uncertainty, Experiential Learning, And Syndication In Cross-Border Venture Capital Investments. Academy Of Management Journal, 59(4), 1407-1429. Doi:10.5465/Amj.2013.0835
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Running head: HEALTH CARE FINANCE

Health Care Finance
Name of Student
Course Name and Number
Instructor:
Month Day, 2017

1

HEALTH CARE FINANCE

2

Executive Summary
Health is a primary key to a thriving and productive nation without mentioning the fact
that is the core requirement for every individual. The military hospital also nee proper facilities,
equipment, and other resources to enable it to execute the essential services needed for the
military personnel who require appropriate treatments and healthcare. This capital investment
plan proposal will be meant to seek financial assistance from the prospective investors who will
assist in raising equity capital needed to begin and continue with the production of efficient
products and services in the military hospital.
Capital investment in the army hospital will be aimed at enhancing the hospital revenue
to enable the facility to run on the least government reliance which has always been coupled with
a lot of delays and termed as unreliable. The capital investment would also facilitate better
medical services to the various individuals enrolled in the military facility. The capital
investment plan will describe the description of equipment or service suggested in the business
proposal and the various reasons why it is a socially and politically beneficial for the community
in meeting consumer needs in the military facility. Besides, the organizational structure, the
workflow chart, and the team establishment will be used define how the resources will be
managed through various managerial and departmental levels in the military hospital. Typically,
the proposal will entail a simple structure of capital investment team who will be responsible for
the decision-making process. Similarly, the various responsibilities and background of the capital
investment team will be defined in the capital proposal. The key strategic objectives or goals in
the capital investment plan will entail the specific funding sources for the capital investment in
the military facility. The various financial projections will be represented by the several financial

HEALTH CARE FINANCE

3

analysis that will show the estimated income statement and the several types of assumptions
made in the computations of the figures.
The finance and money topic is also critical in health since multiple facilities in health
and labor are needed to provide high-level health services. Effective financial planning and
implementation in hospitals or health centers are essential because it is what determines the
efficiency and effectiveness in the provision of medical services. The top management of
military health facilities or hospitals have the biggest responsibilities in ensuring that there are
effective financial planning and implementation to enable both the inpatient and outpatient to get
quality health care.
Equipment description.
The military hospitals are in the process of transforming the core system in the hospital
operation, and it is meant to assist in the management of the organization of the health facility.
The new system will help in enhancing efficiency and ensuring that there is increased
competitiveness in the health center. The new regime will make sure that there is adequate
coordination in different department or section and there are management and control of the
patients’ records including information to enhance confidentiality in the provision of health care
services. The service description in the medical environment will ensure that the systems are
updated to assist in the time saving and taking care of patients within the shortest time possible.
The decisions on the implementations are made after the identification of the critical
success factors needed in the application process. The new system will also en...


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