Order ID | 53563633773 |
Type | Essay |
Writer Level | Masters |
Style | APA |
Sources/References | 4 |
Perfect Number of Pages to Order | 5-10 Pages |
The Health Care Financial Management
MHA 740 — HEALTH CARE FINANCIAL MANAGEMENT
Spring 2014
Answer your questions in an Excel or Word document.
IMPORTANT NOTE: Please print your documents to make sure they look presentable (as if you are presenting a report to your CEO, if they don’t look presentable then make necessary formatting adjustments) before submitting / uploading your answers .
Questions:
Would you rather have a savings account that pays 5% compounded semiannually or one that pays 5 percent compounded daily? Explain your answer.
Stillwater Hospital is borrowing $1,000,000 for its medical office building. The annual interest rate is 5%. What will be the monthly payments on the loan if the length of the loan is four years and payments occur at the end of each year? Show your work.
Lakeside Cancer Research Institute just received a $3 million gift to cover the salary for a permanent research scientist in perpetuity to study Hodgkin’s disease. What would be the required rate of return on the investment if the position paid an annual salary of $125,000? Show your work.
Consider the following uneven cash flow stream. What is the future value, if the opportunity cost rate is 6%? Show your work.
Year | 0 | 1 | 2 | 3 | 4 | 5 |
Cash Flow | $0 | 250 | 400 | 500 | 600 | 600 |
A wealthy philanthropist has established the following endowment for a hospital. The details are as follows: a cash deposit of $ 7 M two years from now; an annual cash deposit of $4M per year for the next five years. The first $4M will start today; at the end of 5 years, the hospital will also receive a lump sum payment of $18M. Assuming the cost of money is 3%, what is the value of this endowment in today’s dollars? Show your work.
Mercy Medical Mega Center, a tax paying entity, has made the decision to purchase a new laser surgical device. The device costs $500,000 and will be depreciated on a straight-line basis over five years to a zero salvage value. Mercy Medical could borrow the full amount at a12% rate for five years. The after-tax cost of debt equals 8%. Alternatively, it could lease the device for five years. The before tax lease payments per year would be $90,000. The tax rate is 35%. From a financial perspective, should Mercy lease the surgical device or borrow the money to purchase it? Show your work.
Blackmore Health System is considering a new orthopedic center. The building and equipment for the new center will cost $7M. The new orthopedic center expects to generate net operating cash flows of $500,000, $1.5 million, $ 3 million, $4.5 million and $5.5 million over the next five years. The cost of capital is 7%. Use the NPV and IRR approaches to determine if this project should be undertaken. Show your work.
The North Kingstown Cancer Infusion expects tremendous growth over the next year and is projecting the following cost and rate structure for the service. Revenues are $750 per patient. Rent is $3600 per month; staff cost is $195,000 per month; leases are $10,000 per month; other fixed costs are $20,000 per month; pharmaceuticals are $500 per patient; intravenous supplies are $25 per patient; and other patient supplies are $25 per patient. Show your work.
What volume of patients per month will it take for the center to breakeven?
If the center needs to make a profit of $75,000 per month, what is the new volume per month?
Consider the data in the table below for three independent health services organizations. Fill in the missing data indicated by question marks.
Organization | Revenues | Variable cost | Fixed cost | Total cost | Profit |
A | $2000 | $1400 | ? | $2000 | ? |
B | ? | $1000 | ? | $1600 | $2400 |
C | $4000 | ? | $600 | ? | $400 |
Discuss the role of strategic planning in the budgeting process. How does it differ from short-term planning?
Page | 1
Customer Satisfaction Improvement Plan
Most people have experienced frustration when talking with customer service at least once. Often, organizations provide satisfaction surveys to customers in order to evaluate their experience. In the health care field, accrediting agencies require providers to measure patient satisfaction through surveys. You will be using the Customer Satisfaction Improvement Plan template to enter all of your information. Note: If you have responded substantively to each of the content items within the template of the assignment, the document should be between three and four pages.
Choose one of the customer experience scenario options below:
Customer contacted a Health Plan Customer Service department but could not understand the representative.
Customer scheduled an appointment with a primary care physician for an acute illness and there were no appointments available.
Customer had an appointment for lab testing or a diagnostic test (MRI, CT scan, etc.) and the facility environment was disorderly and unclean.
Customer visited the Emergency Department (ED), also known as Emergency Room, but the wait time was extensive (over three hours).
Customer’s car repairs estimate was $200.00, however, the actual bill was $900.00 when repairs were completed.
Customer contacted a cable company to have an installation of internet and cable for their home. Installer arrived and did not know how to do internet installations.
Respond to the questions listed in the Customer Satisfaction Improvement Plan template. Once you have responded to all of the questions in the template, your document should be between three and four pages. The template is what you will be submitting. Do not write a paper. However, you do need to write in paragraph format using APA formatted citations where applicable and include APA formatted references.
Describe the patient satisfaction scenario chosen.
Describe a minimum of three data elements you would gather to fully assess the situation and assist you with improving the customer satisfaction scenario you chose.
Outline the CQI methods you would utilize to develop your improvement plan. Then, explain your plan for improvement. Provide a statement from a scholarly source that supports your plan.
Identify three stakeholders on your team and discuss how the communication method differs for each (e.g., physician, administration/management, and health care staff). Include information on the barriers that may be encountered in communicating effectively within the team and when implementing the plan.
Analyze how cost and quality are linked based on your chosen scenario. Include information on the potential impact to the organization if the issue is not resolved.
Describe how you will be evaluating the success or failure of the plan. Discuss the process. Provide a minimum of one statement from a scholarly source that supports your evaluation plan.
Format the scholarly sources you used to support your statements in responding to the questions above according to APA style as outlined in the Ashford Writing Center.
Include at least three scholarly sources from the Ashford University Library within the text of the template. Cite all sources according to APA style as outlined in the Ashford Writing Center.
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