Assignment: Financials
Identify a leader at the Medical City Hospital setting who is responsible for fiscal planning and financial management. This person may be solely responsible for financial management or have multiple duties and responsibilities that include fiscal planning and financial management. Request an interview with that person. Also, use other sources to locate publicly available financial information for this organization. Use it as context for your interview.
You should ask the following seven questions in your interview setting:
1. Can you tell me about your role within your organization? What are your duties and responsibilities? How long have you been in this role?
2. Can you share with me all of your duties and responsibilities that involve fiscal planning and financial management?
3. How does your organization approach strategic planning?
4. How do you approach operational budgeting? How does your organization approach capital budgeting?
5. What is the most expensive aspect of health care delivery?
6. How is health care finance related to the cost of care, quality, value, waste, performance improvement, regulatory compliance, provider relationships, and insurance reimbursement?
7. What cost-containment measures has the organization used?
8. Can you explain what measures your company has taken to control the financial strategies formulated for long-term financial planning?
9. How does your company's financial planning methodology differ from your competitors?
10. What measures have been taken to monitor and control the existing financial conditions and for accommodating changes if necessary?
Write a 3 to 4 pages paper in which you report your findings from your interview and research:
1. Indicate the name and title of the person you interviewed. Share some background about their organization. List the responsibilities and scope of their role, and how long they have been in the role.
2. Share the mission, vision, and strategic priorities of the organization.
3. Provide some organizational background (location, size, focus, services provided, demographics of patients served, for- or nonprofit status, et cetera).
4. Explain all of the financial-related tasks and responsibilities that your interviewee engages in.
5. From your interviewee's perspective, explain how health care finance is related to the cost of care, quality, value, waste, performance improvement, regulatory compliance, provider relationships, and insurance reimbursement.
Format your assignment according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the assignment, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.