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Essay Available:
Pages:
8 pages/≈2200 words
Sources:
4 Sources
Style:
APA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 34.56
Topic:

Financial Management Plan for a Healthcare Institution

Essay Instructions:

In the final paper you will create your financial management plan. Build upon your SWOT analysis and address cost management along with the impact of healthcare policies for the organization you previously selected. In the analysis and recommendations of the SWOT analysis, make sure you address staffing, technology, emerging threats such as the pandemic, etc.
Requirements for your paper:
Include no more than a 1-page Executive Summary
Discuss your SWOT analysis, budget plan and cost management strategies in the paper
Attach the following as appendices (not included in the 8 –10 page count):
SWOT Analysis Table/Matrix
Budget Plan
Any other major appendices you want to show
Share your plan to engage stakeholders to implement your financial management plan
Determine effective communications strategies you plan to use to convey your recommendations and budget plan
Share global healthcare impact on your financial management plan
Include best practices and previous research you utilized to develop your financial management plan
In the conclusion, share implications anticipated within 3 – 5 years of implementing your plan
Writing Guidelines:
Cover page and reference page (not included in the 8 – 10 page count)
Running head and pagination
Must be double-spaced with 1-inch margins and typed in 12-point Times New Roman
Paper should be proofread for spelling and grammar mistakes
Essay must be in APA style.
You must cite all texts used, including page numbers to avoid plagiarism
Your paper must have a thesis statement and conclusion that are both supported by research and analysis.

Essay Sample Content Preview:

Financial Management Plan
Student Name
Institution
Course Name
Instructor
Date

Table of Contents

Executive Summary. 3

Financial Management Plan. 4

Financial SWOT Analysis. 4

Strengths. 5

Weaknesses. 5

Opportunities. 6

Threats. 7

Analysis and Recommendations. 8

Staffing. 8

Technology. 8

Reimbursement 9

Communication with Stakeholders. 9

Challenges and Opportunities of Contemporary Healthcare. 10

Recommendations on an Applicable Budget 10

Engaging Stakeholders in Budget Implementation. 11

Effective Communication Strategies. 11

References. 13

Appendices. 14


Executive Summary
A healthcare institution can enhance patient care, reduce risk, make necessary expenditures, and explore new revenue sources with proper financial management. To enhance the delivery of healthcare services, leaders must be prepared for the underlying financial challenges that exist in the industry. The study at aimed at creating financial management plan based on SWOT analysis while highlighting impacts on healthcare policies resulting from cost management. Recommendations and ways to engage stakeholders in implementing the financial plan are also highlighted. The study also discusses the effective communication strategies used to convey recommendations and budget plan.
Financial Management Plan
The primary role of financial management in healthcare organizations is to manage money and risk in a way that helps to achieve the organization's financial goals. A healthcare organization with strong and organized financial management plans can provide efficient healthcare to all its patients. Assessing the institution’s budget using SWOT analysis helps identify areas for improvement in the administration of healthcare services. An institution like Copley Hospital should address staffing, technology, reimbursement, and contemporary healthcare to enhance effective financial management. Moreover, engaging stakeholders and developing an applicable budget for Copley Hospital as a healthcare institution will help develop illustrative ways of enhancing an improved financial environment in healthcare administration. The study creates a financial management plan for Copley Hospital based on SWOT analysis while addressing cost management and its impact on the organization's policies. A plan will be set to engage stakeholders to implement the financial plan, determining effective communications strategies to convey recommendations and budget plans.
Financial SWOT Analysis
A SWOT analysis provides an opportunity for an organization to consider its strengths and weaknesses. It also requires a look at the organization’s environment to consider opportunities and threats. A SWOT analysis can be a powerful tool to help leaders decide which ideas to pursue as opportunities based on their current strengths and what is happening (or projected to happen) in the environment in which they operate. A financial SWOT analysis of Copley Hospital’s budget helps identify how the institution is ...

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