STEP 1. Choose a company – should be publicly traded and for profit. Then provide your own analysis -in about 2 to 3 paragraphs that describe the company. BE clear about….. The company, what services it provides, the clients they serve, the community it serves etc…are in any other aspects of the company you wish to discuss?.
STEP 2. Analyze the financials (you should get from the stock information on the company, or the investor relations tab on the company website – some tabs may “financials” other “investors” etc.. and write your analysis of your understanding of the company’s financial situation. Using key words from the learning materials, chapters, MUSE etc. Discuss your understanding of the company’s financial position and determine whether or not you feel the company is headed for and trending in a good financial direction.BASED on what you did for step 1 and step
STEP 3. Discuss what would occur if the payer mix changed – what if there were big changes to the clients they serve which causes a change in payer mix – what if any impact would this have on operations. Instead of assuming a 20% increase in Medicare, due to the fact that you may want to choose an organization that is not a Medicare provider, just discuss how changes in payer mix impact the financial strategy of the organization. To give you a hint of what I would be looking for think about how different players set rates for different services such as HMOs vs PPOs, vs Gov funded insurance etc. and how they may differ from each other inclue concepts how long it takes to get paid, paper work needed, EHR etc. Also think about costs related to third-party payment or even direct service payment such as collecting costs, billing costs, EHR and other required paperwork.
NOW think about another FINANCIAL issue – high turn over of clinical staff
STEP 4 Discuss what an increase in staff turnover would do to the financials of this organization. Try to see if you can find financials related to hiring costs, human resource costs, recruiting cost and training costs or information on this from published source. Then determine what impact it could have financially on the organization if there were a sudden increase in staff turnover.
STEP 5 Finally (option to do 1 or the other) create spreadsheet that shows predictions of costs related to changes in payermix and high staff turn over, and/or instead do a strategic analysis on the organization and discuss how the financials of this organization guide with strategic planning and decision-making. You are not required to both but note you can even conduct a strategic analysis like the one I did as an example in the live chat.
I want to give a big clarification to the upcoming assignment due in unit three. For the IP I looked at this and realize that it’s going to be very difficult for you to actually calculate and create a spreadsheet BECAUSE we are not providing you with an actual balance sheet. Therefore I’m going to change this assignment REQUIREMENTS A BIT. I still would like you to go online and research an organization, PLEASE make sure it’s a publicly traded HEALTH CARE organization. What you’ll need to do is research publicly traded healthcare organizations, and then find an organization that you feel is interesting to you but also MAKE SURE that you will have enough data to analyze the organization then you’ll complete the following steps in an APA formatted paper – YOU CAN THEN EITHER DO A SPREAD SHEET OR TABLE DETAILING THE FINANCIALS.