Scenario
Established in 1977, Krona Community Hospital is a 60-bed, acute care hospital located in the heart of Banconota County. With a staff of nearly 100 physicians and specialists, 400 employees and 75 volunteers, they offer a full range of health care services. They are accredited by The Joint Commission.
Nouveau Health, a private, not-for-profit health care chain, took over management Krona Hospital. Last year, state officials began to discuss Nouveau's proposal to build a new, replacement hospital in Banconota County. The new facility would have 74 acute care beds, four observation rooms, four surgical operating rooms, one c-section room, a 24-hour emergency department, a maternity center, an intensive care unit, and an extensive outpatient center that will provide service such as diabetes treatment, physical therapy, speech pathology, and so forth.
You are a staff member in the finance department at Nouveau Health, whose sole responsibility is to advance the success of the organization through assisting in planning, forecasting, and finance management.
Health care organizations obtain revenues through multiple funding sources. Unlike consumer products, health care organizations do not rely on the consumers of their services as the primary sources of revenue.
Complete the following:
- Identify 2 sources of revenue that may assist you in the financial forecasting for the organization.
- Identify and discuss 2 reimbursement methods that the organization may utilize, and explain what risk those methods may or may not bring to the organization.