Health & Medical Paper Assignment Help

Health & Medical Paper Assignment HelpHealth & Medical Paper Assignment Help

Table of Contents

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

Health & Medical Paper Assignment Help

Description

For this assessment, you will develop a 2-4 page review on the importance of the budgeting process to a health care organization, as well as demonstrate an understanding regarding the differences between an operational budget and a capital budget. Additionally, you will prepare an operational budget for the medical-surgical department at the St. Anthony Medical Center.

Introduction

NOTE: THIS ASSESSMENT USES VILA HEALTH: DEVELOPING AN OPERATING BUDGET AS THE CONTEXT FOR DEVELOPING YOUR BUDGET. PLEASE MAKE SURE YOU HAVE REVIEWED THIS MULTIMEDIA BEFORE YOU COMPLETE YOUR ASSESSMENT SUBMISSION.

Financial management is something that touches us all. We are each responsible for our own personal and family budgets, and many of us are also responsible for budgets at work. Regardless of your experience with financial management, it is a critical skill to have, and it will be necessary to master this skill as you move forward in your health care administration career. Almost all health care administrators will be responsible for a budget at some point in their careers. Administrators must also know how to read basic financial statements and reports to assess the performance of their organization, other organizations, or their department.

Budgeting is an important consideration in strategic planning for any health care organization. The most basic definition of budget is a plan that identifies expected financial inputs and outputs. A budget should be closely aligned with a strategic plan, which is a strategy used by an organization to achieve its mission. Organizations may use different types of budgets, such as master budgets, operating budgets, revenue budgets, expense budgets, cash budgets, and capital budgets (Finkler, Smith, & Calabrese, 2020). We will explore each at a high level.

For this assessment, you will be asked to consider the different types of budgets that are used in the health care field. By researching other organizations that use budgets, you will apply the course materials to a real-world situation. The assessment will further refine those skills as you navigate the St. Anthony Medical Center medical-surgical department budget (from the Vila Health multimedia). You will prepare a paper and a basic budget to demonstrate the knowledge that you acquired this week.

Many learners enter the field with limited exposure to finances. Depending on your current knowledge and comfort level with the subject, it may be necessary to conduct additional research and spend extra time addressing some of the basics. In other words, the resources in this course will help to provide a foundation for you to complete the assessments, but it is possible that you will need to do your own research in the Capella University Library to fully address all scoring guide criteria.

Demonstration of Proficiency

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

Competency 1: Explain the importance of reporting in health care.

EXPLAIN WHY BUDGETS ARE AN IMPORTANT PART OF THE PLANNING PROCESS.

Explain the difference between operating, project, and capital budgets.

Analyze the impact of the budget on the operations of the organization.

Competency 2: Develop a departmental budget.

Provide this year’s correct revenue and expenses.

Estimate the correct revenue, expenses, and net revenue/expenses for the next fiscal year.

Competency 3: Communicate in a manner that is scholarly, professional, and respectful of the diversity, dignity, and integrity of others and consistent with the expectations for health care professionals.

Adhere to the rules of grammar, usage, and mechanics.

Apply APA formatting to in-text citations and references.

Reference

Finkler, S. A., Smith, D. L., & Calabrese, T. D. (2020). Financial management for public, health, and not-for-profit organizations (6th ed.). CQ Press.

Instructions

The assessment has two distinct parts:

Part 1: Medical-Surgical Department Operating Budget

Relevant scoring guide criteria:

Provide this year’s correct revenue and expenses.

Estimate the correct revenue, expenses, and net revenue/expenses for the next fiscal year.

For Part 1 of this assessment, you will use the information presented in the Vila Health: Developing an Operating Budget multimedia as context to create your operating budget. Using the data provided in the first three (3) columns, you will be developing an operating budget for the medical-surgical department at the St. Anthony Medical Center for the next fiscal year, as well as estimating the revenue and expenses for the remainder of the current fiscal year. (Assume that next year’s revenue will be unchanged from the current year’s revenue; however, the department will need to cut operating expenses by 5 percent for next fiscal year.)

You may download and use the Excel spreadsheet from the multimedia as your template for this part, or the Excel spreadsheet Medical-Surgical Department Budget [XLSX] can also be found under “Resources.”

Part 2: Types of Budgets and Their Importance

IN THE SECOND PART OF THE ASSESSMENT, YOU WILL DEMONSTRATE YOUR UNDERSTANDING OF THE IMPORTANCE OF BUDGETS WITHIN THE CONTEXT OF FINANCIAL AND STRATEGIC PLANNING FOR HEALTH CARE ORGANIZATIONS. A COMPREHENSIVE ANALYSIS OF THE BUDGET CONSISTS OF YOUR INTERPRETATION OF THE NUMBERS: WHAT ARE THE NUMBERS TELLING YOU? USE THE READINGS FROM YOUR FINANCIAL MANAGEMENT FOR PUBLIC, HEALTH, AND NOT-FOR-PROFIT ORGANIZATIONS AS WELL AS THE INDEPENDENT RESEARCH YOU CONDUCTED TO FULLY DEVELOP A 2–4 PAGE (EXCLUDING COVER AND REFERENCES PAGES) RESPONSE TO THE RELEVANT SCORING GUIDE CRITERIA:

Explain why budgets are an important part of the planning process.

“Explain” means to make something (an idea, situation, or problem) clear to someone by describing it in more detail or revealing relevant facts or ideas.

Explain the difference between operating, project, and capital budgets.

Analyze the impact of the budget on the operations of the organization.

“Analyze” means to examine methodically and in detail the constitution or structure of something (especially information), typically for purposes of explanation and interpretation.

Adhere to the rules of grammar, usage, and mechanics.

“Grammar” refers to the basic rules for how sentences are constructed and how words combine to make sentences (for example, word order, case, and tense).

“Usage” refers to correct word choice and phrasing, particularly with regard to the meanings of words and phrases.

“Mechanics” refers to correct use of capitalization, punctuation, and spelling.

Apply APA formatting to in-text citations and references.

Be sure to include a separate References page.Additional Submission Requirements
Your assessment should meet the following requirements:

Structure: Include a title page and reference page. You will submit two documents for your assessment:

Excel spreadsheet (Part 1: Medical-Surgical Department Budget [XLSX]).

Word document (Part 2: Developing an Operating Budget Assessment Template [DOC]). Template found under “Resources.”

Length: Part 2 should be 2–4 double-spaced pages in length.

References: Cite at least four current scholarly or professional resources.

Your textbook can be one of the four resources.

APA formatting: You may wish to refer to the following APA resources to help with your structure, formatting, and style:

APA Style and Format.

APA Style Paper Tutorial [DOCX].

APA Style Paper Template [DOCX].

Font and font size: Times New Roman, 12 point, for narrative portions only.

Vila Health ® ActivityDeveloping an Operating Budget

Introduction

Your Office

Board Meeting

Conclusion

Introduction
In health care as in other industries, a budget is a statement of expected financial inputs and outputs. But a budget is affected by more than revenues and expenses. It’s integrated with the organization’s strategic plan. In order to understand an organization’s financial health, not just in the present but in the future, it’s essential to understand its budget and the relationship between that budget and the strategic plan that guides the organization’s actions.After completing the activity, you should be able to:

Analyze a hospital budget and recognize red flags based on budget variances.

Discuss the hospital budgeting process.

Calculate next year’s budget based on current-year data and directives from senior leadership based on a strategic plan.

Your Office
You are the administrator of the Medical-Surgical Department at St. Anthony Medical Center, the third largest hospital in the Twin Cities metro area. You will be creating the budget for your department. To prepare, you have to go to a budget meeting for the overall hospital, where you’ll hear about the current fiscal year — and how reality is corresponding to the assumptions in the budget.You have a voicemail from Owen Welch, CFO.Voicemail
Caller ID: Owen Welch, CFOVoicemail Transcript
Hi, it’s Owen. I hear you’re working on a budget for the Med-Surg department. I’d like you to come to the budget meeting this afternoon, because I’m going to be sharing some numbers that are likely to have an impact on your budget. I’ve sent you the year-to-date statements through December, the overall budget for the year, and the year-to-date budget variance for your department. Take a look at them, and bring them with you to the meeting. See you later!St. Anthony Medical Center Financial Statements
Please download the Excel file for financial data.Leadership Meeting
It’s time to head over to the meeting with hospital leadership to talk about the budget for the coming fiscal year.Budget Meeting Conversation
Owen Welch, CFO: Hi, everyone. Thanks for coming. We’ve got some important numbers to go through and a big challenge to respond to, so I think we better get started.Carla Neustadt, Vice President of Operations: That sounds ominous.Owen Welch: Not really, Carla. Well…let’s get started. Okay, everybody take a look at the budget for the current year. We’ll get to the year-to-date numbers in a minute, but for now I want to focus on the whole-year budget.Christopher Hewitt, Vice President of Medical Support: Well, can we at least get an idea of how we’re doing year-to-date before you go to the 40,000-foot level?Owen Welch: I think you might need to hear this first. Here’s the situation: The hospital has to cut operating expenses by 5 percent for next fiscal year.George Fink, Director of Clinical Operations: I’m sorry, did you say 5 percent? Operating expenses?Owen Welch: That’s right.George Fink: That’s a big ask. We’re already operating awfully lean.Owen Welch: Agreed. But it’s the situation we’re in. I’ll get to the reasons, but based on what I’m going to go over, I just want everyone to keep in mind that we can’t make assumptions we were making before. So let me give you an overview of the budget and the year-to-date numbers, and I think you’ll see why we’re going to have to make those cuts.Now, last year, for the entire hospital, we assumed that we would see $1,225,000,000 in total patient revenue. But as you can see, for half the year, we’ve only hit $607,538,746. By this point in the year, we should be at $612,500,000. So already in terms of total patient revenue, we’ve got a deficit of $4,961,254 that we didn’t expect. The problem is made worse when we see that other operating revenue is also under budget by $1,500,000.Our operating expenses are fairly close to target so far this year, but given the situation with declining revenue, we will need to try to find some additional cost savings opportunities.Christopher Hewitt: Wow. Well, okay, so that’s the reality. What’s the timeline? How long do we have to make these cuts?Owen Welch: Well, implementation is obviously by June 30 since the next fiscal year starts July 1. The board will approve the new budget probably by mid-June, but all the negotiation at the unit and department level will be going on in April. Our first official budget committee meeting is in February. So I’d suggest getting your ducks in a row by then.Conclusion
You have completed the Vila Health: Developing an Operating Budget.In this activity, you learned about some budget realities at St. Anthony Medical Center, and some trends to keep in mind as you develop your budget fo

Health & Medical Paper Assignment Help

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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