Assignment: Healthcare Finance
Amy Royce is the chief business administrator for Hilldale Regional Hospital. You have recently accepted the manager position within the Internal Medicine department. Ms. Royce has called a meeting to discuss the current budget, and projections for future years...
Hi, come on in! Thanks for meeting with me today. I wanted to touch base with you about our department's budget. Since you stepped into the department manager role in Internal Medicine, you and I will be working together to monitor our budget activity and projections. In reviewing last years' budget, I'm noticing several inconsistencies. I need to you do some research and find out if these figures were reported accurately, what caused the variance, and if we need to make any course corrections to stay on budget this year, how we should go about that.
Lastly, I need you to see if we can afford to hire the Medical Assistant Dr. Jones keeps asking for. Simply telling him 'it's not in the budget' is no longer a feasible option. We need real numbers to support a yes or no decision on this hiring. I'll need your recommendation on that for when I meet with Dr. Jones later this week. Thanks for your work on this. I know it's short notice!
Complete the following as a response to Ms. Royce:
• Using fictional information, summarize the two inconsistencies in the budget Ms. Royce mentioned in the video. Explain the process you used to analyze prior year's values to reach your conclusion.
• Discuss possible course corrections to keep the budget on track moving forward. You should incorporate financial management strategy into this response. Avoid using terminology such as "we will need to spend less money."
• Explain how you researched the feasibility of adding a new medical assistant. Using fictional information, provide your recommendation based on the current budget projections.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.