Exam Content
A good financial strategy can always be improved. Having knowledge of your organization’s finances provides the leverage to make decisions that affect the outlook and goals of the company. This assignment gives you an opportunity to examine company practices from a financial lens, which provides you with insight into what drives financial decisions for a health care system.
Obtain a recent financial statement for your organization, detailing expenses and revenues (This can be from within the last year. You may need to work with your supervisor to obtain a financial statement.).
Write a 1,225- 1,550-word report on the major trends in your organization’s expenses and revenues. Include the following points:
- Analyze any trends in expenses and revenue that you see. Are they on target to meet budget goals?
- How can your organization contain or reduce expenses without damaging services and quality of care?
- Can your organization’s reimbursement strategy be improved to increase revenue? If so, what would it be, and how would it be implemented?
- How can your organization use its financial performance to build its brand?
Cite any references to support your assignment.
Format your citations according to APA guidelines.
-You must use a healthcare organization – you can use any healthcare organization. You can use a healthcare organization that makes their report available to the public. Many healthcare organizations will include financial information as part of their annual report – which is often published on their website.
-Expenses & Revenues: Be sure to offer data. To determine if there is a trend you need to examine at least 3 points in time.
-Reducing Expenses: Recommendations must be specific and justified. Be sure to consider relevant evidence-based best practices.
-Reimbursement Strategies: Offer and justify specific strategies that are relevant to the organization. Be sure to consider evidence-based best practices.
-Build Brand: Explain how financial performance affects brand. Be sure to explore the concept of branding (you should offer information from credible sources) and then apply it to your organization.
