Assessment #2: Health Care Financial Concepts Paper Requirements
From the list of financial concepts, pick 1-2 financial concepts.
Search for a healthcare finance related article on the concepts.
In a 3-5 page paper, describe how you can apply the financial concepts from the article to your current health care organization or a health care organization of your choice.
Some examples of financial concepts are:
· Revenues or revenue cycle
· Fixed and variable costs
· Contribution margin
· Breakeven Analysis
· Income statements
· Balance sheets
· Cost value analysis
· Cost allocation methods
· Auditing process
· General knowledge of health care laws and regulations
· Time value of money
· Financial statement analysis
· Cost of capital
· Financial risk
· Insurance and risk
· Ratio analysis
· Budgeting (operational and capital)
· Lease financing
· Cost control
· HIPAA privacy act
· Affordable Care Act (ACA)
· Profit vs. non-profit
· Best practices
Be sure to include the following:
1. Provide a summary of the article (must be healthcare related). Articles should be within the last 5-10 years for current articles.
2. Provide an explanation of the financial concept(s) found in the article.
3. Provide an example of how you can apply these financial concept(s) to your current health care organization or to the health care organization of your choice (i.e. John Hopkins Hospital, Mayo Clinic)*.
4. Include the source of the article in the paper and include another source above the current article (a minimum of 2 sources are required).
*It would be feasible to find the financial statements of your current health care organization or the health care organization of your choice. Include an explanation of what these concept(s) mean in the context of the organization’s financial performance.
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