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Identify factors that contribute to the rising cos...




Identify factors that contribute to the rising costs of healthcare and discuss efforts to control those costs. Describe the four basic financial statements and the information that can be gathered from each. Interpret and analyze financial statements. Summarize concepts related to capital management such as working capital, the time value of money, and net present value. Evaluate investment opportunities and available sources of capital financing. Illustrate how cost information can be used to make financial decisions. List the essential components of the budgeting process and understand how to prepare a budget. Explain how organizational units within a healthcare organization measure their financial performance. Discuss methods used by healthcare providers to determine their costs. ? Analyze the changes in financial statements and their impact on health care organizations. ? Perform horizontal, trend, and ratio analyses for financial statements of a health care organization. ? Interpret these results and make preliminary assessments of an organization's financial position and performance. ? ?Communicate the assessments and formulate suggestions for further financial and operating improvement goals and initiatives for a health care organization. ? Describe the methods to allocate overhead and support costs to revenue-producing departments in order to achieve full costing. Breakeven Analysis. ? Explain the rationale for the capital budgeting process. ? ?Analyze the various financial methods for evaluating capital projects. ? ?Explain the role of opportunity costs in the capital budgeting process. ? Discuss the importance of the due diligence process in determining the capital project selected by the organization. ? Identify the components necessary for the preparation of a budget. ? Discuss how assumptions are arrived at in the budget process. ? Identify the key parties involved in the budget process. ? Explain how a complete and detailed budget process can provide operational and financial benefits to any organization. ? Identify the value of sensitivity and scenario analysis. ? Quantify the importance of measuring the risk alternatives in projects for the management and governing body of the health care organization. ? Assess the reasons for the variability in an organizations cash inflows and outflows. ? Consider characteristics and strategies of current asset management programs and how these can assist in maximizing return on these assets. ? Describe the nature of municipal bond financing. ? Discuss the various types of bonds, parties involved, and issuance process. ? Describe the role of swaps in the capital financing process ? Discuss how private insurance companies reimburse health care organizations. ? Describe the flow of activity in a shared risk capitation model. ? Discuss how physicians are reimbursed for their professional services. ? Explain the changing patterns and initiatives within health care, including the growing interest and application of the hospitalist concept. ? Describe the major components of a managed care contract. ? Identify opportunities and strategies within managed care contracting and negotiations. ? Discuss the importance that negotiations play in obtaining appropriate reimbursement rates from managed care organizations. ? Identify the three main components of the revenue cycle of a health care organization: admitting and registration, coding, and billing. ? Explain some of the best practices in the revenue cycle and the impact these can have on reimbursement and in ensuring compliance with regulatory reviews. ? Discuss the fundamental shift of Medicare from an insurer and payor of claims to a value purchaser of health care services. ? Describe the increased review and audit of providers by Medicare and other payors. ? Discuss certain tax issues that face not-for-profits in health care. ? Explain the role of financial transparency within health care and help these organizations plan for these changes in the future.


Paper#6676 | Written in 18-Jul-2015

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