university of phoenixmyresource.phoenix.edu/secure/resource/hca270r3/hca270_v... · web viewhca/270...
TRANSCRIPT
HCA/270Financial Matters for Health Care Professionals
Version 3 08/01/2011
HCA/270
HCA/270 Finance for the Health Care Professional
Program CouncilThe Academic Program Councils for each college oversee the design and development of all University of Phoenix curricula. Council members include full-time and practitioner faculty members who have extensive experience in this discipline. Teams of full-time and practitioner faculty content experts are assembled under the direction of these Councils to create specific courses within the academic program.
CopyrightCopyright © 2011, 2009, 2007 by University of Phoenix. All rights reserved.
University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries.
Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation.
Edited in accordance with University of Phoenix® editorial standards and practices.
Faculty Notes Page 2
HCA/270 Finance for the Health Care Professional
Faculty Materials
BOOKS, SOFTWARE, OR OTHER COURSE MATERIALS
Baker, J. J., & Baker, R. W. (2011). Health care finance: Basic tools for nonfinancial managers (3rd ed.). Sudbury, MA: Jones & Bartlett Publishers.
All electronic materials are available on your student website.
ASSOCIATE LEVEL MATERIALS
Associate Level Writing Style Handbook, available online at https://ecampus.phoenix.edu/secure/aapd/CWE/pdfs/Associate_level_writing_style_handbook.pdf
Faculty Notes Page 3
HCA/270 Finance for the Health Care Professional
Course DescriptionThis course is designed as an introduction to the terminology, processes, functions, and financial reports commonly encountered in health care operations. This course introduces the concepts of basic managerial financial functions, such as budgeting, reimbursement methods, and the responsibilities of health care financial management.
TOPICS AND OBJECTIVES
Week One: Introduction to Health Care Finance
Define basic finance concepts. Compare the two types of accounting. Identify organizational financial reports.
Week Two: Recognizing and Recording Financial Operations
Identify sources of health care revenue. Classify balance sheet and income statement items. Compute contractual allowances.
Week Three: Cost Classifications
Describe the difference between direct and indirect costs. Differentiate between fixed, variable, and semi-variable costs. Describe classification of costs.
Week Four: Management’s Responsibility for Staffing
Describe the difference between productive and nonproductive time. Calculate full-time equivalent (FTE) to annualize staff positions. Explain how costs are tied to staffing.
Week Five: Inventory and Depreciation Concepts
Discuss the interrelationship between the inventory and cost of goods sold. Differentiate between LIFO and FIFO inventory methods. Define methods of computing book depreciation.
Week Six: Time Value of Money
Define time value of money. Identify the use of comparative data. Calculate financial ratios.
Week Seven: Analysis of Financial Statements
Describe the components of financial statements. Identify the basic concept of cash flows. Explain the uses and limitations of financial statements. Describe the importance and use of budgeting.
Week Eight: Financial and Operating Ratios
Define liquid, solvency, and profitability ratio.
Faculty Notes Page 4
HCA/270 Finance for the Health Care Professional
Calculate operating ratios.
Week Nine: Financial Implications of Technology
Identify costs and incentives of technology. Explain the importance of implementing technology in health care. Identify capital budget expenditures as they relate to technology.
Faculty Notes Page 5
HCA/270 Finance for the Health Care Professional
Week One Faculty Notes
TOPICS AND OBJECTIVES
Introduction to Health Care Finance
Define basic finance concepts. Compare the two types of accounting. Identify organizational financial reports..
Weekly Overview
This week covers the basic concepts of finance in health care, including identifying various organizational financial reports. The discussion questions allow students to focus on the four elements of financial management, and the differences between financial and managerial accounting. The assignment focuses on concepts of financial practice.
Assignment Notes
Discussion Questions are due this week.
Assignment: Financial Concepts and Reports
Resources Required
Ch. 1, 2, and Glossary of Health Care Finance & Associate Level Material: Financial Concepts and Reports Answer Key for Financial Concepts and Reports, Due in Week One
Faculty Notes Page 6
HCA/270 Finance for the Health Care Professional
Faculty Notes Page 7
HCA/270 Finance for the Health Care Professional
Week Two Faculty Notes
TOPICS AND OBJECTIVES
Recognizing and Recording Financial Operations
Identify sources of health care revenue. Classify balance sheet and income statement items. Compute contractual allowances.
Weekly Overview
This week, students cover sources of health care revenue, including governmental, managed care, commercial, and private pay. The assignment, a multimedia game, covers identifying balance sheet and income statement items, while requiring students to compute contractual allowances and grouping revenue sources by payer and expenses by cost center.
Assignment Notes
Assignment: Balance Sheets and Income Statements Multimedia
Resource Required
https://ecampus.phoenix.edu/secure/aapd/ns/hca270/income-balance/index.htm
Grading Guide
Feedback is provided by the multimedia. The student’s score is delivered to his or her Individual forum.
Assignment: Contractual Allowances, Grouping Revenue, and Grouping Expenses
Purpose of Assignment
Students must have a firm understanding of revenue and costs tied to health care delivery. Financial management in health care requires a working knowledge of computing contractual allowances for services rendered, grouping revenue by payer, and grouping expenses by cost center. This assignment acquaints students with these practices and prepares them for the managerial finance.
Resources Required
Ch. 4 & 5 of Health Care Finance and Associate Level Material: Contractual Allowances, Grouping Revenue, and Grouping Expenses
Answer Key for Contractual Allowances, Grouping Revenue, and Grouping Expenses
Faculty Notes Page 8
HCA/270 Finance for the Health Care Professional
Faculty Notes Page 9
HCA/270 Finance for the Health Care Professional
Faculty Notes Page 10
HCA/270 Finance for the Health Care Professional
Week Three Faculty Notes
TOPICS AND OBJECTIVES
Cost Classifications
Describe the difference between direct and indirect costs. Differentiate between fixed, variable, and semi-variable costs. Describe classification of costs.
Weekly Overview
This week, students focus on understanding cost allocations. The discussion questions cover direct and indirect & fixed and variable costs, asking students to relate real-world examples, and identify and recommend improvement opportunities to lower costs. The assignment requires students to match cost classification terms with definitions, and match these terms with real-world examples.
Assignment Notes
Discussion Questions are due this week.
Assignment: Costs Classification
Resources Required
Ch. 6, 7, & 9 of Health Care Finance and Associate Level Material: Costs Classification
Answer Key for Costs Classification, Due in Week ThreeDirections: Consult Chapter 6 & 7 and other sources to complete the form. This checkpoint requires you to match the definitions and examples of types of cost, as well as the types of centers where costs occur.
Faculty Notes Page 11
HCA/270 Finance for the Health Care Professional
Part 1: For each of the terms in Column A select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the Term.
Part II: For each of the real-world examples on the right, select the correct term from the list on the left. Write the corresponding letter of the real-world example next to the term.
Faculty Notes Page 12
Column A
F 1. Indirect Costs
A 2. Direct Costs
D 3. Fixed Costs
I
E
H
B
C
G
4. Variable Costs
5. Step-fixed Costs
6. Responsibility Centers
7. Revenue Centers
8. Cost Centers
9. Shadow Cost Centers
Column B – Definitions
A. Costs incurred directly as a result of providing a specific service or good.
B. Those centers that are charged with controlling costs and generate revenue.
C. Have no revenue budget and no obligation to earn revenue.
D. Costs that do not vary as service volume varies.
E. Fixed over some range of service volume but rise to a new level for a higher range of service volume.
F. Costs that cannot be tied directly to the patient’s stay in the bed.
G. Exist as budgets on paper only.
H. The places where costs occur, and have budgets.
I. Costs that change as volume changes.
Column A
K 1. Indirect Costs
N 2. Direct Costs
Q 3. Fixed Costs
M
R
J
O
L
P
4. Variable Costs
5. Step-fixed Costs
6. Responsibility Centers
7. Revenue Centers
8. Cost Centers
9. Shadow Cost Centers
Column B – Real World ExamplesJ. A subunit of a larger organization that is responsible for some type of
budget – payroll department or courier serviceK. Shares of depreciation, Administration division, or Laundry service
L. Administration, Human Resources, or Housekeeping
M. Utility Bill, or Supplies, or Maintenance
N. Nursing care, food consumed, drugs administered
O. Hospital Cafeteria, Gift Shop, or Parking ramp
P. Depreciation of hospital equipment
Q. Building Loan Payment, Building Insurance, Cable or Internet Service
R. Nurse to patient ratio on the Cardiac Unit is 1 to 3 patients. There are 4 nurses scheduled for 12 patients. During second shift, 3 more patients are admitted. Nurse Manager calls in a 5th nurse
HCA/270 Finance for the Health Care Professional
Week Four Faculty Notes
TOPICS AND OBJECTIVES
Management’s Responsibility for Staffing
Describe the difference between productive and nonproductive time. Calculate full-time equivalent (FTE) to annualize staff positions. Explain how costs are tied to staffing.
Weekly Overview
This week, students examine management’s responsibility for staffing, including the differences in productive and nonproductive time. The assignment requires students to calculate staffing using the annualized method for a physician group practice. The assignment requires students to write a paper discussing the purposes of annualizing staff, explaining how costs are tied to staffing, and explaining the differences in methods.
Assignment Notes
Assignment: Annualizing Staffing
Resource Required
Associate Level Material: Annualizing Staffing
Answer Key for Annualizing Staffing, Due in Week Four
Compute net paid days worked for a full-time employee in the physicians’ group.
CATEGORY OF DAYS NUMBER OF DAYS: Site 1 NUMBER OF DAYS: Site 2Total days: business year 364 364Less 2 days off per week 104 104Number of paid days per year 260 260Less paid days not worked: Holidays 8 8 Personal holidays 3 2 Sick days 5 5 Education days 3 1 Vacation days 15 7Total nonproductive days 34 23Net productive days 226 237
Part II: Convert net paid days worked to a factor to annualize the staffing plan for the physician practice at both sites. Complete the following table by entering the annualizing equation to obtain the factor.
SITE EQUATION FACTOR1 364/226 1.610612 364/237 1.53586
Faculty Notes Page 13
HCA/270 Finance for the Health Care Professional
Assignment: Managing Staff
Purpose of Assignment
Health care managers are responsible for determining staffing needs throughout the year. Annualizing allows the manager to identify costs for full- and part-time positions. For managers to determine and evaluate staffing needs, a thorough knowledge of how to annualize using various methods and understanding the differences between productive and nonproductive time is essential. This assignment prepares students to determine the importance of annualizing staffing for a health care practice.
Resources Required
Ch. 9 of Health Care Finance and Associate Level Material: Managing Staff
Written Assignment Grading Form for Managing Staff, Due in Week Four
Content and Development 70 Points
Points EarnedXX/70Additional Comments:
All key elements of the assignment are covered in a substantive way.
The paper discusses the following:
o Discusses major purposes annualizing staffing
o Identifies and explains how operational costs are tied to staffing
o Explains differences between the annualized and scheduled-position methods
o Differentiates the meanings of productive versus nonproductive time
o Discusses the benefits of recording productive and nonproductive time
The paper is 750 to 1,050 words in length.The content is comprehensive, accurate, and persuasive.The paper develops a central theme or idea directed toward the appropriate audience.The paper links theory to relevant examples and uses the vocabulary of the theory correctly.Major points are stated clearly; are supported by specific details, examples, or analysis; and are organized logically. Cites at least two sources other than the
textbookThe introduction provides sufficient background on the topic and previews major points.The conclusion is logical, flows from the body of the
Faculty Notes Page 14
HCA/270 Finance for the Health Care Professional
paper, and reviews the major points.
Readability and Style 15 Points
Points EarnedXX/15Additional Comments:
Paragraph transitions are present, logical, and maintain the flow throughout the paper.The tone is appropriate to the content and assignment. Sentences are complete, clear, and concise.Sentences are well constructed, strong, and varied.Sentence transitions are present and maintain the flow of thought.
Mechanics 15 Points
Points EarnedXX/15Additional Comments:
The paper—including the title page, reference page, tables, and appendixes—follows APA formatting guidelines.Citations of original works within the body of the paper follow APA guidelines.The paper is laid out with effective use of headings, font styles, and white space.Rules of grammar, usage, and punctuation are followed.Spelling is correct.
Total 100 Points
Points EarnedXX/100
Overall Comments:
Faculty Notes Page 15
HCA/270 Finance for the Health Care Professional
Week Five Faculty Notes
TOPICS AND OBJECTIVES
Inventory and Depreciation Concepts Discuss the interrelationship between the inventory and cost of goods sold. Differentiate between LIFO and FIFO inventory methods. Define methods of computing book depreciation.
Weekly Overview
This week covers inventory control and depreciation of assets. The discussion questions require the student to describe the interrelationship between inventory and costs of goods sold, and to differentiate between last-in, first-out and first-in, first-out by relating real-world examples. The assignment requires students to define the methods used to compute book depreciation.
Assignment Notes
Discussion Questions are due this week.
Assignment: Computing Book Depreciation
Resources Required
Ch. 8 of Health Care Finance and Associate Level Material: Assignment Form
Answer Key for Computing Book Depreciation, Due in Week Five
QUESTION ANSWER – Do not forget to list references at the bottom of the paper. Write a minimum of 30 words for each area listed.
Straight Line Depreciation:- No salvage- Salvage
Straight-line depreciation (no salvage) assigns an equal or even amount of depreciation expense over each year or period of the asset’s useful life until the net book value is zero.
Straight-line depreciation (salvage) assigns an amount of depreciation expense over each year or period of the asset’s useful life allowing for a scrap or salvage value. Salvage value represents any expected cash value of the asset at the end of its useful life. The remaining salvage value is not depreciated because it is most likely going to be recovered.
Accelerated Book Depreciation: - Sum of Years’ Digits Method Accelerated depreciation writes off more depreciation expense in the first part of the asset’s
useful life. The SYD accelerated depreciation method computes depreciation by multiplying the depreciable cost of the asset by a fraction.
Accelerated Book Depreciation: - Double Declining Balance
MethodThe DDB accelerated depreciation method computes depreciation by multiplying the asset’s net book value at the beginning of each year by a constant percentage, this being twice the straight-line rate.
Accelerated Book Depreciation: - 150% Declining Balance
MethodThe 150% DB accelerated depreciation method also computes depreciation by multiplying the asset’s net book value at the beginning of each year by a constant percentage; this
Faculty Notes Page 16
HCA/270 Finance for the Health Care Professional
being 150% of the straight-line rate.
Accelerated Book Depreciation: - Units of Production Method
Units-of-Service depreciation assigns a fixed amount of depreciation to each unit of service or output that is produced. Thus, a fixed total “Units of service” over the life of the asset is used instead of number of years of useful life. In the case of a hospital, the Units of Service actually describes the medical equipment helping to provide services, such as an MRI machine.
Why is it important for a hospital to pay attention to depreciation more than a computer software company?
A hospital is an asset-intensive organization. This means that the organization owns many assets such as buildings, equipment, etc in order to generate revenue. With this in mind, it is important for the financial officers to pay close attention to the depreciated value of these assets, since depreciation can affect the bottom line of the business. On the other side, a software company’s operation would not require as many tangible assets; thus less to depreciate.
Faculty Notes Page 17
HCA/270 Finance for the Health Care Professional
Week Six Faculty Notes
TOPICS AND OBJECTIVES
Time Value of Money
Define time value of money. Identify the use of comparative data. Calculate financial ratios.
Weekly Overview
This week, students focus on present value, internal rate of return, and payback period ratios. The assignment requires students to define comparative data uses and relate the principles to a real-world example. The assignment requires the student to define the time value of money, calculate financial ratios, and analyze the result’s meaning.
Assignment Notes
Assignment: Comparative Data
Resources Required
Ch. 14 of Health Care Finance and University of Phoenix Material: Comparative Data
Answer Key for Comparative Data, Due in Week Six
Complete the following table by writing responses to the questions. Cite the sources in the text and list them at the bottom of the table.
What criterion must be met for true comparability?
Consistency, Verification, and Unit Measurement
What elements of consistency should be considered? Provide an example.
Time periods – the same time period of 12 months needs to be compared to another 12 month period. For example, you would want to use the fiscal year July 2009 to June 2010 compared to July 2010 to June 2011.Consistent Methodology – the same methods should be used for the time periods. For example, if you were to compare inventory from one year to the next, you would use the same inventory method such as FIFO for both years.Inflation factors – inflation factors need to be computed when several years are being compared. This needs to be calculated using a cumulative effect over time. For example: Year 1 with a base of $500,000 uses the IF of 1.100 =$ 550,000; Year 2 with a base of $500,000 uses the IF of 1.210 = $605,000; Year 3 with a base of $500,000 uses the IF 1.331 =$ 665,000
What is the manager’s responsibility in comparing data?
A manager’s responsibility is to use consistent methods across time periods because the results will be used in decision making. If the results are not comparable, financial consequences will occur in the future.
What are the four common uses of comparative data?
Compare current expenses to current budget - managers are responsible for comparing current expenses of a practice to the budget. Variances can be determined with this commonly used practice. Action plans can then be implemented to eliminate budget variances.Compare current actual expenses to prior periods – trending is an important tool when developing a budget. This allows for a comparison of current expenses to expenses incurred in prior periods. Compare to other organizations – this is called common sizing. When using comparative data, it needs to be based on percentages. For example, if you were comparing three physician practices, two having a patient base of 400 and the third having a patient base of 250, you would not want to use actual revenue dollars for the comparison. You would want to use a ratio, resulting in a percentage. Patient base divided by revenue dollars =
Faculty Notes Page 18
HCA/270 Finance for the Health Care Professional
percentage. Compare industry standards – Using an industry standard for comparison is useful for decision making because it positions the organization within a large grouping of facilities that provide similar services. First, a manager needs to find industry standards in percentages in order to compare accurately. Health care has an advantage in this comparison because federal and state governments release statistics to the public.
What is meant by standardized data?
Hospitals and physicians are compared using standard measures. Standardizing measures assists in accurate comparability and in performance measurement. Performance measures illustrate what has occurred, which influences what will occur. This provides for informative decision-making and effective use of resources. Standard measures provide information about performance characteristics, usually in the form of operating ratios, illustrating where the organization has been, where it is now and how it compares to the industry. Consistent use of standardized measures enables organization to monitor any changes, identify potential problems, and take corrective action now. When an organization uses performance measures for comparability, it is almost certain to improve.
Assignment: Time Value of Money
Purpose of Assignment
This assignment requires the student to describe the time value of money and relate it to a real-world example. In addition, the student’s ability to calculate financial ratios such as present value, internal rate of return, and payback period is assessed.
Resource Required
Ch. 12 of Health Care Finance and Associate Level Material: Time Value of Money
Answer Key for Time Value of Money, Due in Week Six
Part I: Complete the following table by inserting your responses to the questions. Cite your sources in the text you provide.
Define the time value of money. Money is worth more today than a promise of the same amount in the future due
to its earning capacity over time. Provide a real-world example for the time value of money.
Win the Mega Millions® lottery of $12 million to be paid over 26 years at $461,000 annually. You receive the cash payout of $7.1 million. You can invest the $7.1 million to earn more for you in the future. Student answers will vary.
Why is time such an important factor in financial matters?
When investing money, we prefer to make money over a certain period of time based on the interest accumulated. Therefore, money invested and interest compounding over time equals a larger amount in the future.
How would you use the time value of money to your financial benefit?
Student answers will vary.
Part II: Complete the following table by calculating the ratios.
Present ValueAmount Compounding period Rate of interest Present value$100,000 Annual 6% for 10 years $55,840$70,000 Annual 4% for 15 years $38,871
Faculty Notes Page 19
HCA/270 Finance for the Health Care Professional
Internal Rate of ReturnInitial cost of investment
Periods of useful life
Estimated annual net cash inflow generated
Look-up table value
Rate of Interest
$75,000 10 $10,190 7.360 6%$56,000 6 $12,115 4.623 8%
Payback Period: Assume there are no income taxes for both scenarios.Purchase price of equipment
Period of useful life
Annual revenue generated per year
Operating costs associated with revenue
Depreciation expense per year
Payback period result
$550,000 10 years $100,000 $32,000 $55,000 8.08$350,000 10 years $80,500 $36,000 $35,000 7.86
Faculty Notes Page 20
HCA/270 Finance for the Health Care Professional
Week Seven Faculty Notes
TOPICS AND OBJECTIVES
Analysis of Financial Statements
Describe the components of financial statements. Identify the basic concept of cash flows. Explain the uses and limitations of financial statements. Describe the importance and use of budgeting.
Weekly Overview
This week’s discussion covers components, uses, and limitations of financial statements, including the importance of the budgeting process. The assignment, a multimedia game, covers basic accounting terms and definitions.
Assignment Notes
Discussion Questions are due this week.
Assignment: Accounting Dartboard
Resource Required
https://ecampus.phoenix.edu/secure/aapd/NS/HCA270/dartboard/darts/hca270_darts.html
Grading Guide
Feedback is provided by the multimedia. The results will be sent to the student’s Individual forum. Students must win the game at the intermediate level to receive credit.
Faculty Notes Page 21
HCA/270 Finance for the Health Care Professional
Week Eight Faculty Notes
TOPICS AND OBJECTIVES
Cash Management and Current Liabilities
Define liquid, solvency, and profitability ratios. Calculate operating ratios.
Weekly Overview
This week, students are required to define and identify liquid, solvency, and profitability ratios. The assignment requires students to utilize a multimedia quiz to convey their understanding of the different operating ratios. The assignment requires the student to calculate specific ratios from financial statements.
Assignment Notes
Assignment: Ratio Analysis
Resource Required
Ch. 11 and pp. 373 & 374 of Health Care Finance
Purpose of Assignment
This assignment allows students to go beyond the academic scope of the text and explore real-world applications of financial management. This assignment requires students to calculate and analyze operating ratios.
Answer Key for Ratio Analysis, Due in Week Eight
Ratio Numbers from Arcadia financial statement
Result Is it a liquidity, solvency, or profitability ratio?
Define the ratio and explain what the result shown in Column 3 means to the organization. Do not forget to provide your references at the bottom of the form.
Inventory turnover (Example)
180,000/5000 36 N/A Inventory turnover is calculated to determine how quickly the inventory is used based on the services rendered. If the inventory turnover is high, this means the hospital does not have enough inventories on hand to accommodate the patient load. For this example, the hospital is turning over their inventory 36 times per year, which is about 3 times a month. The opposite is true if the inventory turnover calculation is lower than the median. This could mean that there is a build-up of inventory due to lower than expected patient revenues.
Current ratio 70000/30000 2.33 Liquidity The current ratio measures the proportion of all current assets to all current liabilities. It illustrates the company’s ability to pay its current obligation. If there were to be a decrease in revenue, the organization needs to be able to pay their obligations at least 2x over.
Quick ratio 70000-5000/30000 2.167 Liquidity Quick ratio is similar to current ratio, but is a bit
Faculty Notes Page 22
HCA/270 Finance for the Health Care Professional
or25000+40000/30000
more stringent. Inventory is removed from the current assets because it can be more difficult to liquidate. Banks prefer this ratio because it shows the organization’s ability to pay obligations during economic hardships.
Debt service coverage ratio
80000+30000+3100/22,200 5.1 Solvency This ratio measures the organization’s ability to pay back a loan. A financially stable organization that has a lower result has a greater ability to manage through economic downturns. It shows a healthy balance between assets that are obtained through loans and assets that are owned.
Operating margin 80000 /180000 0.44 Profitability Operating Margin ratio illustrates the proportion of profit that remains after subtracting the cost to produce the goods or service. This is an accurate reflection of the organization’s profitability because if the result decreases, it is indicative of increased expenses, which means it is imperative that all costs associated with producing goods/services needs to be evaluated. It is time to cut the budget. The result here tells us that the physician group needs to cut the budget.
Return on total assets
80000+3100/1000000 .0831 Profitability This ratio measures how much profit is earned from each dollar that is invested in assets. Investors use this ratio more because it is a good indicator of how well the leadership is using the assets.
Faculty Notes Page 23
HCA/270 Finance for the Health Care Professional
Week Nine Faculty Notes
TOPICS AND OBJECTIVES
Financial Implications of Technology Identify costs and incentives of technology. Explain the importance of implementing technology in health care. Identify capital budget expenditures as they relate to technology.
Weekly Overview
This week, students discuss and apply several features of financial management to real-life situations. The capstone discussion question asks students to capital expenditures as it relates to technology implementation. The final project requires students to create a presentation providing a recommendation to a physician group practice on whether to implement an electronic medical record (EMR) based on financial implications.
Assignment Notes
A Capstone Discussion Question is due this week.
Final Project: Implementing EMR Presentation
Purpose of Assignment
The final project requires students to apply some of the financial management knowledge and skills they have learned throughout this course to develop a Microsoft® PowerPoint® presentation in which they present a recommendation based on financial implications on whether to implement technology in a physician group practice. Understanding an organization’s financial statements and identifying costs related to capital expenditures is essential for capital budget planning. By analyzing and presenting information on the processes and financial considerations, students fulfill some of the critical functions of real-world financial managers.
Presentation Grading Form for Financial Presentation, Due in Week Nine
Content and Development 180 Points
Points EarnedXX/180Additional Comments:
All key elements of the assignment are covered in a substantive way via slides and speaker notes:
Presentation includes the following:
o Implementation process
What is involved Why should it be implemented
o Financing from at least five of the following:
Faculty Notes Page 24
HCA/270 Finance for the Health Care Professional
Capital budgeting Budget planning Depreciation Ratio analysis Projected revenue Overall costs
o Financial incentives for implementing new forms of technology from at least two of the following:
Government, such as Medicare reimbursement
Physician groups: health maintenance organizations, preferred payer organizations, and individual practice association
Health plans: pay-for-performance programs
Quality improvement accreditation agencies: National Committee for Quality Assurance
Tax credits
o Include at least two costs not considered in the implementation process:
Threat of litigation Layout of facility Life expectancy and value of equipment Maintenance Increase in operational costs
o Advantages and disadvantageso A summary of the findings with a
recommendation
Presentation consists of 12 to 15 slides appropriate for the speaker’s audience
Speaker notes with in-text citations The content is comprehensive, accurate, and persuasive.
Presentation is visually appealing, including visual aids or utilizing graphics
Amount of text is appropriate for each slide, of approximately five lines and approximately five words per bulleted item
Appropriate font sizes are used.The presentation develops a central theme or idea directed toward the appropriate audience.The presentation links theory to relevant examples of current experience and industry practice and uses the vocabulary of the theory correctly.
Faculty Notes Page 25
HCA/270 Finance for the Health Care Professional
Major points are stated clearly; are supported by specific details, examples, or analysis; and are organized logically.
Cites three outside sourcesThe introduction provides sufficient background on the topic and previews major points.The conclusion is logical and reviews the major points.
Readability and Style 35 Points
Points EarnedXX/35Additional Comments:
Slide transitions are logical and maintain the flow throughout the presentation.The tone is appropriate to the content and assignment. Sentences are clear and concise.
Mechanics 35 Points
Points EarnedXX/35Additional Comments:
Citations of original works within the body of the presentation follow APA guidelines.The presentation is laid out with effective use of headings, font styles, and white space.Rules of grammar, usage, and punctuation are followed.Spelling is correct.
Total 250 Points
Points EarnedXX/250
Overall Comments:
Faculty Notes Page 26
HCA/270 Finance for the Health Care Professional
Associate Level Faculty Material
Instructions for Using the Written Assignment Grading Form
The grading form summarizes the points earned for a written assignment, usually focusing 70% for content and development and 30% for readability, style, and mechanics. The form also provides space in which you may comment on any area that needs special attention for remediation or reinforcement. It is not necessary to provide a comment for each section or bullet point.
In some cases, you may want to customize the form by adding or deleting lines to document particular features or ideas that you will look for while grading the paper. Each time you grade a student paper, copy the table and paste it at the end of the assignment. When the grading process is complete, return the student’s paper, which now contains the feedback form and score for the assignment.
1. Open the student’s attached Microsoft® Word document.
2. Open a new Written Assignment Grading Form from the master file.
3. Copy and Paste the Written Assignment Grading Form at the end of the student paper.
4. Grade the paper, providing quality feedback on the content of the paper.
5. Complete the Written Assignment Grading Form, which is now in the student paper, providing comments when applicable. It is not necessary to record a comment for every item.
6. Enter the student’s score for each of the three main categories: content and development, readability and style, and mechanics. Optionally, you may enter points for each subcategory. Calculate and enter a total score.
Faculty Notes Page 27