Question: Scholarly Activity
Identify three specific impacts of social factors on the healthcare system and write a three-page essay detailing how healthcare providers and/or members of a healthcare ethics committee can impact change in these areas for a more equitable healthcare system.
Your essay should be a minimum of three pages in length. Use a minimum of three sources, including your textbook. All sources used must be referenced; paraphrased and quoted material must have accompanying citations. The essay and all references and citations used must be formatted using APA style.
Textbook: Morrison, E. E., & Furlong, B. (Eds.). (2014). Health care ethics: Critical issues for the 21st century (3rd ed.). Burlington, MA: Jones & Bartlett Learning.
Questions
1. Using the example balance sheet and statement of operations (Tables 2.2 and 2.3) provided in Chapter 2, calculate the three bond repayment ratios. Use your calculations to comment on the financial condition of Ridgeland Heights Medical Center.
2. Why is it so important for a healthcare organization to develop a five-year strategic financial plan, not just an annual budget?
3. Why is financial ratio analysis crucial for understanding the financial position of a healthcare organization? Select any three of the commonly used financial ratios, provide the formula, and briefly explain what it tells us about the status of the healthcare facility.
4. Explain the difference between direct and indirect costs for a healthcare organization. Provide and discuss at least one example of a direct cost in health care and one example of an indirect cost in health care.
Response for questions 1-4 must be at least 200 words in length.
Textbook: Berger, S. (2014). Fundamentals of health care financial management: A practical guide to fiscal issues and activities (4th ed.). San Francisco, CA: Jossey-Bass.