Inancial Planing and Reimbursement in healthcare
You have to choose between a hospital, physician or diagnostic center, for your first job. Your new boss hands you the financials from 2012 and 2013 (pick one of the three from the Excel Midterm Project) each of which has experienced a decline or loss in 2013. Your job is to follow the instructions (color coded) at the bottom of the financial data you select and to:
A. Complete the stated financial information for each of the color coded items to get the full point value (9 points) for this section. Remember, I will want this section, when finally due, turned in on Excel so I can see that the formulas, not just the answers, are correct for full credit.
B. The second part involves analyzing the filled out financials and variance reports you will have prepared above. You will look at the volume of business, revenues and expenses all toward the goal of getting the operations back to earning a profit. I expect that you will cite(in the notes on Excel or in a Word document attached to the Excel sheet the research you used to find and project:
1. Changes in volume and revenues of the different payers based upon trends e.g. Medicare aging population, ACA increasing commercial covered patients.
2. Benchmarks/Key Performance Indicators for problem expenses identified.
3. Make other recommendations from the book, lectures, slides or research about how to further turn the business you selected around.