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Essay Available:
Pages:
6 pages/≈1650 words
Sources:
5 Sources
Style:
APA
Subject:
Health, Medicine, Nursing
Type:
Case Study
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 29.16
Topic:

University of Maryland Medical System (UMMS) Financial Management

Case Study Instructions:

M4 – Final Case Project
Running head: FINANCIAL MANAGEMENT
Assignment Overview
• You have reached the end of this project. The last section will cover the financial management aspect of your organization/facility. In this module, you will submit your completed comprehensive paper. Construct, research, and formulate a health care organization/facility.
• Integrate, apply, and synthesize knowledge through cross-functional areas of regulatory compliance, health care law, and health care ethics.
Case Assignment
1. Community Benefit Spending
a. In at least 1 page, identify how your non-profit organization(UMMS) will spend money helping your community.
2. Balance Sheet (Norwicki, 2018, pp. 51-54)
a. Create a hypothetical (realistic) balance sheet for your organization/facility. The balance sheet should cover two years, the current year and the subsequent year. The balance sheet should show a vivid increase in total net assets.
i. Explain the entries in your balance sheet.
ii. Calculate your Assets for both years.
3. Statement of Operations (Norwicki, 2018, pp. 54-57)
a. Create a hypothetical (realistic) statement of operations for your organization/facility. The statement of operations should cover two years, the current year and the subsequent year.
i. Calculate the Operating Margin and explain your result.
4. Strategic Planning, Operational Planning, & Budgeting (Norwicki, 2018, pp. 299-326)
a. Norwikci (2018) outlined a 22-stage Corporate Planning Process (Exhibit 13.1, pp. 299-300). Review the process outlined and identify how your organization/facility has met/will meet the stages outlined in the following sections:
i. Strategic Planning (Stages 1-8)
ii. Operational Planning (Stages 9-13)
iii. Budgeting (Stages 14-17)
5. Recommendations and Conclusion
Final Paper Submission
Incorporate all previous feedback and aggregate all chapters into one comprehensive paper, with the following pages, headings (bold font), and subheadings (italic font) as follows:
1. Title page
2. Table of contents
3. Organization/Facility Development
a. Health Care Organization/Facility
b. Data Gathering & Examination
c. Organizational Dynamics and Structure
d. Recommendations and Conclusion
4. Health Care Delivery, Information Systems, & Quality Assurance
a. Health Care Delivery and Models
b. Information Systems
c. Quality Assurance
d. Recommendations and Conclusion
5. Regulatory Compliance, Health Care Law, and Ethics
a. Regulatory Compliance and Health Care Law
b. Health Care Ethics
c. Recommendations and Conclusion
6. Financial Management
a. Community Benefit Spending
b. Balance Sheet
c. Statement of Operations
d. Strategic Planning, Operational Planning, & Budgeting
e. Recommendations and Conclusion
7. References
8. Appendices (if applicable)
Assignment Expectations
1. Conduct additional research to gather sufficient information to justify/support your analysis.
2. Case papers should be at least 6 pages, not including the title and reference pages.
3. Support your paper with peer-reviewed articles with at least 5 references.

Case Study Sample Content Preview:

University of Maryland Medical System (UMMS) Financial Management
Student Name
Department, University
Course Code: Course Name
Professor’s Name
Due date
University of Maryland Medical System (UMMS) Financial Management
Background Information/Introduction
The financial management aspects of the UMMS should inform the organization’s strategic efforts, community health benefits investment, and the realization of strategic objectives. This report addresses the UMMS’s community health benefit expenditure, a hypothetical balance sheet, and a statement of operations evaluates the strategic and operational planning and budgeting practices and offers recommendations and conclusions to inform the strategic management of nonprofit healthcare organizations.
Community Benefit Spending
Community benefit incorporates activities tailored to meet population needs as well as priorities fundamentally via illness prevention and health status improvement, including healthcare costs reduction measures, donations of property, funds, or other resources contributing to the community priorities, in-kind or financial support of public medical programs, health awareness, screening, and preventive measures, as well as healthcare services offered to underserved or vulnerable groups (University of Maryland Medical System, n.d.). As a nonprofit organization, the UMMS would spend its donations and educational or research funds to help the communities and patients that need urgent medical attention to enhance their health outcomes. In this context, the UMMS partners with the organizations such as nonprofit organizations and government institutions to avail healthcare to the communities and surrounding Maryland. The organization has funding priorities to help the communities achieve better health and wellness outcomes (Singh et al., 2018). The organization’s vision is anchored on delivering services that support academic, clinical, and service excellence through better innovations and compassion. The organization will spend money helping communities in Maryland by investing in community health assessment projects geared to address social determinants of wellbeing and health outcomes.
There are increased transparency and disclosure requirements regarding the hospital’s investment in community benefits. The facility would uphold greater transparency in the use of its resources as well as community health needs evaluations to establish vulnerable populations and address their needs. The healthcare organization will invest in subsidized or free care to vulnerable members of the community, investments within Maryland communities, and research or educational activities for medical professionals. The facility will conduct community health needs assessments to establish and address local needs. In this way, the UMMS would provide mobile clinics to bring services closer to the people and thus impact their communities positively. The nonprofit facility could justify its sizeable and favorable tax benefits by investing in community benefits (Chaiyachati et al., 2018).
UMMS Balance Sheet
University of Maryland Medical System

Balance sheet

As at


2021(000)

2020(000)

ASSETS...
Updated on
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