HMGT 322 7980 Health Care Financial Management (2182)

Assessment #2: Health Care Financial Concepts Paper Requirements (15%)

Search for a health care finance related article.  In a 3-5 page paper, describe how you can apply the 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:

1. 1. Provide a summary of the article (must be healthcare related). Articles should be within the last 5-10 years for current articles.
   2. Provide an explanation of the financial concepts found in the article.
   3. Provide an example of how you can apply these financial concepts to your current health care organization or to the health care organization of your choice (i.e. John Hopkins Hospital, Mayo Clinic)*.
   4. Include the source of the article in the paper and include another source above the current article (a minimum of 2 sources are required).

*It would be feasible to find the financial statements of your current health care organization or the health care organization of your choice. Include an explanation of what these concepts mean in the context of the organization’s financial performance.

90-100

80-89

70-79

50-69 Points

The student demonstrates a thorough understanding of the financial concepts and their applicability to the organization being analyzed.

The student demonstrates a reasonable but not complete understanding of the financial concepts measured and their applicability to the organization being analyzed.

The student demonstrates a limited understanding of the meaning of the financial concepts chosen and their applicability to the organization being analyzed.

The student does not demonstrate an understanding of the meaning of the financial concepts or how they can be used to assess the organization’s financial condition.

The article of the financial concepts are current and update to date and healthcare related

The article of the financial concepts are current and but not healthcare related

The article of the financial concepts are not current but not healthcare related

The article of the financial concepts are not current and not healthcare related

The student draws accurate conclusions for each of the financial concepts and for the overall financial health of the organization.

The student draws some accurate conclusions for each of the financial concepts and for the overall financial concepts of the organization. There are a few mistakes

The student draws few accurate conclusions for each of the financial concepts and for the overall financial health of the organization. There are several mistakes

The student’s conclusions for each of the financial concepts are inaccurate and the overall conclusion on the financial health of the organization is not valid.

Writing quality: Writes clearly, concisely, and with few errors. Easy to understand.

Writing quality: Writes with some errors but the paper can be readily understood.

Writing quality: paper includes numerous errors. Requires some effort to understand.

Writing quality: The paper is poorly written and is difficult to understand.

Assessment # 2 Health Care Financial Concepts Paper