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Management
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MHA599 CASE MOD 3.- Finance and Budgeting. Management Essay

Essay Instructions:

USE SAME FORMAT AS CASE MOD 2 AS IT WAS PERFECT
Module 3 – Assignment - Finance and Budgeting
Based on your proposed organization and structure for the GAH and the Community Clinic, we will now focus on financing and budgeting issues.
In order to do so, we will need to define the following requirements and assumptions:
Cost of facility construction, initial medical equipment, and instrumentation, will not be calculated – as they will be fully paid by the state as a grant.
All senior patients will be above the age of 65, and will have only the Federal Medicare health insurance. Research the major constructs of Medicare health coverage as defined by the “Medicare Prospective Payment System.”
The hospital and clinic will be financially balanced, that is, income from Medicare payments will cover in full all operating costs.
“Medicare Prospective Payment System”
The hospital is reimbursed by the government per procedure and/or treatment by a predefined sum and not by the actual expenses performed for and on a particular patient.
For example – a patient requiring open heart surgery will utilize the services of physicians, nurses, OR, laboratory, pharmacy, and occupies a hospital bed on average for six days. If a certain patient is discharged after four days, the hospital will still be paid the six-day amount. Hence, the incentive to operate efficiently and effectively, enabling the hospital to “save money.”
Based on the services you have decided to provide - at least six, complete the table (GAH Project):
Input services/treatments in column A.
Input estimated and rounded Medicare reimbursement to GAH (in thousands of dollars) for each treatment in column B (assign for each a figure between $10,000 to $60,000).
Your instructor has inputted the projected number of procedures/treatments performed annually at GAH in column C.
Calculate the total income for GAH by multiplying columns B*C in column D.
Your instructor has inputted the GAH Projected Performance percentage, relative to the Federal standard (100%) in column E.
Calculate the total GAH gain or loss by D-(D*E) in column F.
Assume a $250,000 annual miscellaneous expense.
Prepare (based on the table), a forecast of profit or loss for GAH for the first year of operation.
Conclusions and Recommendations.
Your instructor will comment on your table in his feedback to you, on the basis of which you will be able to further develop your project plan.

Essay Sample Content Preview:

Finance and Budgeting
Name:
Institution:
The development of the hospital in the city of Mission Viejo will be ideal in meeting the health needs of the old population who are likely to develop various health complications such as chronic conditions and other prolonged illnesses that may be facilitated by old age. Besides, the hospital will also be ideal for creating an environment through which the older adults can access the quality of care needed for promoting their well-being. Facilitating and proper coordination of the hospital and the community clinic would be ideal for facilitating the success of the services offered to the patients. Besides, financing of health services of the older patients should also be well coordinated since most elderly individuals have no sources of income. With proper financing and budgeting practices, the seniors would be capacitated to received treatment for all underlying health issues.
Cost of construction and medical equipment
Ideally, the cost of constructing the proposed hospital will be paid by the state through grants set for development projects. Ideally, the city of Mission Viejo often supports community and other non-profit organizations that meet predefined criteria for community services funding. Additionally, the state accepts and considers applications for funding for various human services programs such as homeless support services and senior citizens and offers services for individuals with special needs (City of Mission Viejo, 2020). Therefore, the hospital meets the funding criteria since the proposed hospital offers healthcare services to the elderly population. The state will also help meet the costs of equipping all medical equipment required for supporting and promoting the health needs of the old adults.
Medicare health coverage
Older adults who are over sixty-five years old are placed under the Federal Medicare health insurance that offers healthcare coverage. Medicare would be available for under sixty-five years and receive social security disability insurance (SSDI) for a given period (Medicare.gov, 2020). The Medicare program is funded through social security as Medicare taxes that people pay on their income. There are different groups of patients who would be covered by Medicare; this includes the inpatient hospital stays that pay for services that the patient receives while in the hospital, the outpatient care caters to medical supplies and other outpatient care and prescription drug coverage.
Advantages of Medicare
With Medicare, the elderly patients in the city of Mission Viejo will be covered from various medical procedure such as diagnostic and other treatment-related services. The seniors also receive a cover of prescription drugs and early screening and diagnostic procedures. Besides, Medicare offers convenient coverage options such as hospital and medical insurance, and the personalized plan structures provide different types of plans that match personal situations; for example, individuals with chronic health issues would require a special needs advantage plan. Medicare also helps in facilitating coordinated medical care, where the providers visited maintain effective communication that is ideal for adequate medical care. The disadvantages o...
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