HCS 577 ENTIRE COURSE
HCS 577 Week 1 Individual Assignment Financial Environments Worksheet
Instructions: Complete the Financial Environments worksheet. Click the Assignment Files tab to submit your assignment.
HCS 577 Week 2 1 Individual Assignment Comparative Summary
Instructions: Identify one entity from each health care financial environment identified in the Financial Environments worksheet. Write a 1,050- to 1,400-word summary that compares the financial environments of these three entities. Address the following for each environment:
- Describe the financial structure.
- Which policies are unique to the financial environment?
- Which financial management practices are prevalent in the financial environment?
- Explain why effective financial management is more difficult in health care than in other industries. Format your assignment according to APA guidelines. Click the Assignment Files tab to submit your assignment.
HCS 577 Week 3 Individual Assignment Financial Data Analysis
Instructions: You will use the Patton-Fuller Community Hospital (PFCH) virtual organization for this assignment. Follow the steps below to access the PFCH 2009 Annual Audit:
- Click on "Virtual Organizations" under student materials.
- Click on "Healthcare" across the top.
- Click on Patton-Fuller Community Hospital in the drop down menu.
- Click on Corporate Officers across the top.
- Click on Chief Financial Officer in the drop down menu.
- Click on Annual Report on the left side of the page. Complete the Financial Data Analysis Template. Note the order of the 2009 and 2008 columns.
- In the third column, calculate the difference by subtracting 2008 data from 2009 data. For instance, with cash, this would be $22,995 $41,851 = -$18,856.
- In the fourth column, calculate the percentage change from the 2008 number. For instance, with Net Patient Revenue, 2009 = $459,900 and 2008 = $418,509 providing a $ change (third column) of $41,391. For the % change (fourth column), $41,391 / 418509 = .0989 which would be 9.89% (which is .0989 * 100).
- Using the explanations column, explain why the significant changes occurred from one year to the next. This explanation is based on your conceptual understanding of the way specific line items on financial statements work as well as thorough review and research of the PFCH Annual Audit. Click the Assignment Files tab to submit your assignment. Note: The explanations column is not an opportunity to talk about what depreciation is, for example, but rather to discuss why depreciation increased so significantly at PFCH.
HCS 577 Week 4 Individual Assignment Financial Plan and Presentation
- Budgets and Financial Statements under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization
- University of Phoenix Material: 2010 Operating Budget Projection
- Financial Plan and Presentation Grading Criteria Develop a financial plan for Patton-Fuller Community Hospital for the upcoming year using the 2010 Operating Budget Assumptions memo and the 2009 Operating Budget in the Patton-Fuller Community Hospital Virtual Organization. Create a 10- to 12-slide Microsoft® PowerPoint® presentation in which you address the following:
- Identify the GAAP used to create the financial plan.
- Identify the financial statements used to develop the financial plan.
- Describe the payment systems and participants that contribute to the hospital revenue.
- Describe revenue trends that affect the hospital. Address the following in the speaker notes:
- Explain the relevance of each GAAP to the financial plan.
- Discuss the value of each identified financial statement to your decision-making process in the financial plan.
- Describe the relationship of the financial statements used in the financial plan.
- Describe each payment system and its effect on financial planning.
- Clarify the financial contribution of each participant and the effect they have as a source of revenue. Format your assignment according to APA guidelines. Click the Assignment Files tab to submit your financial plan and presentation.
HCS 577 Week 5 Individual Assignment Health Care Budget
Instructions: Note. You will use this assignment as the basis for your Individual Assignment due in Week Six. Resources:
- Budgets under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization
- University of Phoenix Material: 2010 Operating Budget Projection
- Health Care Budget Grading Criteria Review the 2009 Operating Budget Projections and the assumptions following the projected numbers in the Budgets tab under Chief Financial Officers in the Patton-Fuller Community Hospital Virtual Organization on the student website. Assume the 2009 projections were realized. Use the University of Phoenix Material: 2010 Operating Budget Projections. Develop a budget for Patton-Fuller Community Hospital based on the 2009 Operating Budget and the 2010 Operating Budget Assumptions. Write a 1,050- to 1,400-word paper in which you do the following:
- Discuss which financial management practices are most effective in creating and monitoring an operating budget.
- Discuss which financial management practices are least effective in creating and monitoring an operating budget. Format your assignment according to APA guidelines. Submit your 2010 Operating Budget Projection with your paper. Click the Assignment Files tab to submit your assignment
HCS 577 Week 6 Individual Assignment Signature Assignment: Health Care Business Analysis
Instructions: Resources: Budgets under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization and the Health Care Budget assignment from Week Five Part 1 - 2010 Operating Budget Review the "2009 Budget Issues - Nurses" file in the Patton-Fuller Community Hospital Virtual Organization (accessed via the University Library). This document can be found on the Chief Financial Officer's web page under Special Projects. Decide which of the two highlighted options you will implement from the Nursing Statistics memo of the "2009 Budget Issues - Nurses" document. Discuss decision-making processes in creating a budget. Create a new 2010 Operating Budget based on the labor decision you select from the Nursing Statistics memo. Use your Week Five Health Care Budget assignment as the foundation to develop your new projected budget. Part 2 - Analysis Paper Write a 1,050- to 1,400-word paper in which you address the following:
- Discuss decision-making processes in creating a budget.
- Explain the role of variance analysis in maintaining an operating budget.
- Differentiate between managerial accounting and financial management.
- Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.
- Discuss the decision between the two labor alternatives facing the management of PFCH and the annual cost increase of each.
- Make a recommendation about which labor alternative should be chosen.
- Justify and analyze the labor decision that you recommend. Your justification should present numbers related to fiscal management including how each decision affects the 2010 Budget Projection.
- Analyze the effect of your decision on the operating budget, including:
- The opportunity cost of your recommendation
- How your recommendation affects employee satisfaction
- How your recommendation affects patient care and patient satisfaction Cite a minimum of 4 sources. Format your sources according to APA guidelines. Click the Assignment Files tab to submit the 2010 Operating Budget and Analysis Paper.
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