Homework: Budgeting and Financial Management in Healthcare Organizations
It is designed to familiarize you with the real-world practices of budgeting and financial management in healthcare organizations and demonstrate your ability to analyze a budget/financial statement using excel spreadsheets. It will require the application of the skills and concepts you have learned during the semester including a review of the pertinent literature. It will include a written and oral presentation component, including PowerPoint slides to be presented on the last day of class. This paper should be approximately 18-20 pages in length. A reference page will be required based on the APA reference style (times new roman, 12 point font, 1 inch margins) and include a cover page, table of contents and bibliography (not counted in the page limit). References must extend beyond web-based sources to include class readings and peer reviewed journals. You must have AT LEAST 10 references. (5 of which must be peer-reviewed).
Can be a hospital, nonprofit, healthcare provider, health insurance, etc.
Suggested steps for conducting the project are described below:
• Identify a healthcare organization that you are most interested in
• Conduct a thorough literature review of budgeting, accounting, and/or financial management practices for the organization (e.g. hospital, clinic, etc.) you have selected to investigate.
• Examine at least two or three past budgets and/or annual financial reports for your chosen entity to get a sense of its finances and budgeting/financial management practices.
• Choose some particular topics that are worthy of more attention. For example, the condition of the economy might have affected funding levels and/or budgeting practices for particular revenues, programs, and services provided.
• Develop at least five analytical techniques (provided by a professor) you have learned this semester for budgets and financial analysis. Use of excel spreadsheet for analysis, present value, forecasting, etc. must be incorporated. `You may also use charts and tables.
The final report should be no more than 20 double spaced pages (times new roman, 12 point font, 1 inch margins) and include a detailed bibliography (not counted in the page limit). Be sure to properly cite all referenced materials. The final report should include all of the following and be structured as follows:
1) Cover Page
2) Table of contents
3) Abstract (No more than 300 words)
4) Introduction and background information for the chosen entity
a. Problem that you are looking at;
b. State purpose of your paper
5) Literature review
6) Budget/Financial Analysis
a. Include a basic description of your budget.
b. What accounts for the major sources of revenue and expenses?
c. Use at least 5 analytical techniques you will learn this semester for analysis (provided by professor)
d. Use of excel spreadsheets for analysis, present value, forecasting etc. must be incorporated. You may also use charts and tables.
7) Conclusion
8) References (not included in page limit)
9) Appendix (not included in page limit)
a. Any necessary supporting documents from the actual budget(s) that you have examined
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.