This project provides an opportunity to apply financial management concepts to a case study for a healthcare organization. The project helps examine the fundamentals of healthcare finances, assets, budgets, cost and financial analysis. You will create and/or review financial statements and reports, then provide a recommendation based on issues identified in the case. You will have an opportunity to critically analyze a financial case and provide recommendations.

QUESTION

This project provides an opportunity to apply financial management concepts to a case study for a healthcare organization. The project helps examine the fundamentals of healthcare finances, assets, budgets, cost and financial analysis. You will create and/or review financial statements and reports, then provide a recommendation based on issues identified in the case. You will have an opportunity to critically analyze a financial case and provide recommendations.

The following link provide several cases to choose from. Choose a case that interests you, based on the overall description and noted financial challenge or issue.

http://www.warbirdconsulting.com/category/healthcare-case-studies

The first part of your project will require you to choose a financial management case. Review the provided cases related to healthcare and financial management, and choose a specific case. The case you choose you will use throughout the course to complete your project assignments.

Submit a minimum 2-page report that:

• Identifies the topic and case you have chosen.
• Describes the financial issues outlined in your case.
• Describe perspectives of the financial challenges.
• Briefly discusses its relevance specifically to financial management in a healthcare organization.
• You will need to use a minimum of (3) scholarly/academic sources for your research. You will need to incorporate the sources into the content and use a minimum of (1) in-text citation per source. Examples of scholarly sources include academic journals, peer-reviewed articles, and case studies. The references should specifically address related financial challenges outlined in your case and/or offer additional perspectives. Academic scholarly journals can be access through the Rasmussen Online Library. You can explore Article by Subject (Health Care or Business), to start your search.
• Include an APA formatted reference page to document your sources.

This document will serve as your Introduction section of your project.

ANSWER

 Financial Management in Healthcare Organizations: A Case Study Analysis

Introduction

In this project, we will explore the application of financial management concepts to a case study involving a healthcare organization. The chosen case will enable us to examine various aspects of healthcare finances, including assets, budgets, cost analysis, and financial reporting. By critically analyzing the financial challenges and issues faced by the organization, we will be able to provide recommendations to address these concerns effectively.

Case Selection

The selected case for this project is available at http://www.warbirdconsulting.com/category/healthcare-case-studies. The chosen case is titled [Case Title] and is particularly intriguing due to its financial challenge or issue, which will be thoroughly investigated throughout this project.

Financial Issues in the Chosen Case

The case highlights several financial issues that require careful examination. These issues may encompass aspects such as declining revenues, increasing costs, budgetary constraints, inefficient resource allocation, or regulatory compliance challenges (ProQuest – ProQuest, n.d.). By understanding and addressing these financial concerns, the healthcare organization can enhance its financial stability, operational efficiency, and overall performance.

Perspectives of the Financial Challenges

To comprehend the financial challenges in the chosen case, it is essential to consider multiple perspectives (Stiglitz, 2002). These perspectives may include those of the healthcare organization’s financial management team, healthcare professionals, patients, insurance providers, and regulatory bodies. Each stakeholder’s viewpoint offers unique insights into the financial challenges faced by the organization, facilitating a comprehensive analysis of the situation.

Relevance to Financial Management in Healthcare Organizations

The relevance of the chosen case to financial management in healthcare organizations cannot be overstated. In the rapidly evolving healthcare industry, financial management plays a pivotal role in ensuring the long-term sustainability and success of healthcare organizations. Effective financial management is vital for allocating resources efficiently, managing costs, optimizing revenue generation, and adhering to regulatory requirements (EBOOK: Financial Management for the Public Services, n.d.). By addressing the financial challenges highlighted in the chosen case, healthcare organizations can improve their financial health, enhance patient care, and achieve strategic objectives.

Research and Scholarly Sources

To support the analysis and recommendations provided in this project, a minimum of three scholarly/academic sources will be utilized. These sources will offer additional perspectives on the financial challenges identified in the chosen case and provide valuable insights into best practices in financial management within healthcare organizations. Academic journals, peer-reviewed articles, and case studies accessed through the Rasmussen Online Library will serve as reliable sources for gathering relevant information and data.

Conclusion

This project aims to apply financial management concepts to a healthcare organization’s case study, enabling a comprehensive analysis of the financial challenges faced. By understanding the identified financial issues, considering various perspectives, and leveraging scholarly sources, we will provide recommendations that address the financial concerns and contribute to effective financial management in healthcare organizations.

References

EBOOK: Financial Management for the Public Services. (n.d.). Google Books. https://books.google.com/books?hl=en&lr=&id=uX1EBgAAQBAJ&oi=fnd&pg=PP1&dq=Relevance+to+Financial+Management+in+Healthcare+Organizations&ots=OWMutCu6x_&sig=l2eG1xmtsUXUnn5z1-Xc9xE5B9I 

ProQuest – ProQuest. (n.d.). https://search.proquest.com/openview/d2e55e334c55160bd7e4507850c4eed0/1.pdf?pq-origsite=gscholar&cbl=646295 

Stiglitz, J. E. (2002). New perspectives on public finance: recent achievements and future challenges. Journal of Public Economics, 86(3), 341–360. https://doi.org/10.1016/s0047-2727(01)00193-1