UMUC HMGT322 2019 March All Assessment Statement Latest

HMGT 322  Health Care Financial Management
Assessment 1 – Understanding an Income Statement
You are an intern in a health care organization business office. Find an example of an income statement for a health care organization online and using the resources you have been provided under course content, please develop a 4-6 page paper responding to the following questions regarding the income statement:
1. What is an income statement used for?
2. What are the key components of an income statement?
3. On your example of an income statement, is the organization making a profit or loss? How much is that profit or loss? Show the calculations. (Total Revenues – Total Expenses = Net Profit/Loss)
4. On your example of an income statement, what is the “contribution margin”? Show the calculations.  (Total Revenue – Variable Costs=Contribution Margin). You can use the assumption that volume is 15,000 if not included in financial statements.
5. What three financial indicators does a contribution margin help determine? How?
6. What is a break-even analysis? What is the break-even point for this organization? Show the calculations.  (Total revenues – Total VC – FC= Profit)
7. How does a break-even analysis vary between fee-for-service and capitated payments? Explain it using the income statement you chose. What are similarities and differences applicable to the Income statements in fee-for-service and capitated payment options?
The paper should not be more than 6 pages and should follow APA format, spelling and grammar. Include a cover page and reference page (not included in the page count). Make sure to properly cite and reference all the used sources. The calculations need to be shown as formulas using figures. Follow the mathematical rules while calculating numbers.
 
 
HMGT 322  Health Care Financial Management
Assessment 2 – Health Care Financial Concepts Paper
From the list of financial concepts, pick only 1-2 financial concepts to discuss.
Search for a healthcare finance related article on the concepts.
In a 3-5 page paper, describe how you can apply the selected financial concepts from the article to your current health care organization or a health care organization of your choice. 
Some examples of financial concepts are:
Revenues or revenue cycle
Fixed and variable costs
GAAP
Contribution margin
Breakeven Analysis
Capitation
Income statements
Balance sheets
Cost value analysis
Cost allocation methods
Auditing process
General knowledge of health care laws and regulations
Time value of money
Financial statement analysis
Cost of capital
Financial risk
Insurance and risk
Ratio analysis
Analytics
Budgeting (operational and capital)
Forecasting
Lease financing
Cost control
Benchmarks
HIPAA privacy act
Affordable Care Act (ACA)
JCAHO
ICD-10
Profit vs. non-profit
Best practices
Compliance
Be sure to include the following:
Provide a summary of the article (must be healthcare related). Articles should be within the last 5-10 years for current articles.
Provide an explanation of the financial concept(s) found in the article.
Provide an example of how you can apply these financial concept(s) to your current health care organization or to the health care organization of your choice (i.e. John Hopkins Hospital, Mayo Clinic)*.
Include the source of the article in the paper and include another source above the current article (a minimum of 2 sources are required).
 
 
HMGT 322  Health Care Financial Management
Assessment 4 – Ratio Analysis
Write a 4-6 page paper in which you discuss the value of ratio analysis in decision making for health care organizations. Complete the following in your paper:
Discuss the meaning of ratio analysis in healthcare.
Pick only one (1) ratio from EACH major group from the financial statements. (e.g. Current ratio, ROE, Debt to equity, ALOS)
Major Groups:
Liquidity ratios (Current ratio, Days Cash-on-Hand, Quick Ratio)
Profitability ratios (ROE, ROA, Total Margin, Operating Margin)
Leverage/Capital Structure Ratios (Debt ratio, Equity ratio, Debt to Equity Ratio)
Nonfinancial Ratios (Occupancy rate, payer mix, ALOS, Expense per discharge, FTE per bed, HMO penetration)
Discuss one (1) ratio (from EACH major group) using the following criteria:
What is the meaning of each ratio?
Evaluate the meaning of the ratio related to the financial health of the health care organization. Show the calculations.
Explain the factors that affect the results related to the financial health of the organization.
You can also utilize the sample Help4UHMO Organization financial statements (located under week 6) or a real-life health care organization to evaluate by researching their financial statements.
 
 
 
Format your paper consistent with APA guidelines.
Provide a minimum of two (2) cited sources in your paper. Properly cite in APA format.
 
HMGT 322  Health Care Financial Management
Assessment 5 – Best Financial Practices Group Project
Each group is to develop a 7-10 slide PowerPoint presentation devoted to the best financial practices for health care. Each presentation should:
Identify and describe your healthcare organization (e.g. hospital, physician organization, laboratory, other).
List at least five “Best financial practices” that you believe are important for your healthcare organizations to follow (One Best Practice per participant). Base your choice on your reading in this course and research.
Explain why each of these practices are important for your healthcare organizations given the current policy and regulatory environment.
Explain what can go wrong if the practice is not followed.
Since graded as a group, please get feedback from your group members before finalizing your slides. Post your group presentation to the Assignment folder by Sunday at midnight and the Professor will post your group PowerPoint at the beginning of Week 8 for the Week 8 discussion. Your final grade for the group presentation will be based on the PowerPoint that is posted and will take into account your classmates feedback.