The Health Care Financial Management

The Health Care Financial Management

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

The Health Care Financial Management

 

MHA 740 — HEALTH CARE FINANCIAL MANAGEMENT

Spring 2014

Answer your questions in an Excel or Word document.

IMPORTANT NOTE: Please print your documents to make sure they look presentable (as if you are presenting a report to your CEO, if they don’t look presentable then make necessary formatting adjustments) before submitting / uploading your answers .

Questions:

Would you rather have a savings account that pays 5% compounded semiannually or one that pays 5 percent compounded daily? Explain your answer.

Stillwater Hospital is borrowing $1,000,000 for its medical office building. The annual interest rate is 5%. What will be the monthly payments on the loan if the length of the loan is four years and payments occur at the end of each year? Show your work.

Lakeside Cancer Research Institute just received a $3 million gift to cover the salary for a permanent research scientist in perpetuity to study Hodgkin’s disease. What would be the required rate of return on the investment if the position paid an annual salary of $125,000? Show your work.

Consider the following uneven cash flow stream. What is the future value, if the opportunity cost rate is 6%? Show your work.

Year	0	1	2	3	4	5
Cash Flow	$0	250	400	500	600	600

A wealthy philanthropist has established the following endowment for a hospital. The details are as follows: a cash deposit of $ 7 M two years from now; an annual cash deposit of $4M per year for the next five years. The first $4M will start today; at the end of 5 years, the hospital will also receive a lump sum payment of $18M. Assuming the cost of money is 3%, what is the value of this endowment in today’s dollars? Show your work.

Mercy Medical Mega Center, a tax paying entity, has made the decision to purchase a new laser surgical device. The device costs $500,000 and will be depreciated on a straight-line basis over five years to a zero salvage value. Mercy Medical could borrow the full amount at a12% rate for five years. The after-tax cost of debt equals 8%. Alternatively, it could lease the device for five years. The before tax lease payments per year would be $90,000. The tax rate is 35%. From a financial perspective, should Mercy lease the surgical device or borrow the money to purchase it? Show your work.

Blackmore Health System is considering a new orthopedic center. The building and equipment for the new center will cost $7M. The new orthopedic center expects to generate net operating cash flows of $500,000, $1.5 million, $ 3 million, $4.5 million and $5.5 million over the next five years. The cost of capital is 7%. Use the NPV and IRR approaches to determine if this project should be undertaken. Show your work.

The North Kingstown Cancer Infusion expects tremendous growth over the next year and is projecting the following cost and rate structure for the service. Revenues are $750 per patient. Rent is $3600 per month; staff cost is $195,000 per month; leases are $10,000 per month; other fixed costs are $20,000 per month; pharmaceuticals are $500 per patient; intravenous supplies are $25 per patient; and other patient supplies are $25 per patient. Show your work.

What volume of patients per month will it take for the center to breakeven?

If the center needs to make a profit of $75,000 per month, what is the new volume per month?

Consider the data in the table below for three independent health services organizations. Fill in the missing data indicated by question marks.

Organization	Revenues	Variable cost	Fixed cost	Total cost	Profit
A	$2000	$1400	?	$2000	?
B	?	$1000	?	$1600	$2400
C	$4000	?	$600	?	$400

Discuss the role of strategic planning in the budgeting process. How does it differ from short-term planning?

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Customer Satisfaction Improvement Plan

Most people have experienced frustration when talking with customer service at least once. Often, organizations provide satisfaction surveys to customers in order to evaluate their experience. In the health care field, accrediting agencies require providers to measure patient satisfaction through surveys. You will be using the Customer Satisfaction Improvement Plan template to enter all of your information. Note: If you have responded substantively to each of the content items within the template of the assignment, the document should be between three and four pages.

Choose one of the customer experience scenario options below:

Customer contacted a Health Plan Customer Service department but could not understand the representative.

Customer scheduled an appointment with a primary care physician for an acute illness and there were no appointments available.

Customer had an appointment for lab testing or a diagnostic test (MRI, CT scan, etc.) and the facility environment was disorderly and unclean.

Customer visited the Emergency Department (ED), also known as Emergency Room, but the wait time was extensive (over three hours).

Customer’s car repairs estimate was $200.00, however, the actual bill was $900.00 when repairs were completed.

Customer contacted a cable company to have an installation of internet and cable for their home. Installer arrived and did not know how to do internet installations.

Respond to the questions listed in the Customer Satisfaction Improvement Plan template. Once you have responded to all of the questions in the template, your document should be between three and four pages.  The template is what you will be submitting.  Do not write a paper. However, you do need to write in paragraph format using APA formatted citations where applicable and include APA formatted references.

Describe the patient satisfaction scenario chosen.

Describe a minimum of three data elements you would gather to fully assess the situation and assist you with improving the customer satisfaction scenario you chose.

Outline the CQI methods you would utilize to develop your improvement plan. Then, explain your plan for improvement. Provide a statement from a scholarly source that supports your plan.

Identify three stakeholders on your team and discuss how the communication method differs for each (e.g., physician, administration/management, and health care staff). Include information on the barriers that may be encountered in communicating effectively within the team and when implementing the plan.

Analyze how cost and quality are linked based on your chosen scenario. Include information on the potential impact to the organization if the issue is not resolved.

Describe how you will be evaluating the success or failure of the plan. Discuss the process. Provide a minimum of one statement from a scholarly source that supports your evaluation plan.

Format the scholarly sources you used to support your statements in responding to the questions above according to APA style as outlined in the Ashford Writing Center.

Include at least three scholarly sources from the Ashford University Library within the text of the template. Cite all sources according to APA style as outlined in the Ashford Writing Center.

The Health Care Financial Management

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.

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