04 Oct Discuss how the elements of financial management relate to the function of the health care manager
Order Instructions
Memorial Hermann is a hospital system that has been facing some serious financial issues regarding its operations and meeting its vendors’ financial obligations. Mr. Jones, the chief executive officer (CEO), called a meeting of some of the administrative managers for them to share their viewpoints on how to move forward.
Write a 3-page response and include the following:
Describe the 3 viewpoints of the health care managers on how to move forward.
Explain why these viewpoints are important in health care financial management.
Answer the following:
Discuss how the elements of financial management relate to the function of the health care manager.
Examine why it is important for health care managers to understand financial principles.
What information do income, liabilities, assets, profits tell the health care manager?
How does the function of a health care financial manager or chief financial officer (CFO) relate to the understanding of these concepts?
What are the current challenges affecting health care financing at Memorial Hermann?
How should these challenges be mitigated?
Resources
Read the following resources to help you:
www.ncbi.nlm.nih.gov/pmc/articles/PMC6332650/
https://www.aha.org/fact-sheets/2020-04-24-fact-sheet-financial-challenges-facing-hospitals-and-health-systems-result
https://www.healthaffairs.org/doi/10.1377/hlthaff.2020.01560
Cite at least 5 references in APA format.
Grading Rubric: Maximum 200 Points
Grading Criteria Points
Deliverable requirements addressed; understanding of material and presenter’s message and intent are clear 80 points Followed assignment guidelines and criteria 40 pts Yes/Complete Mostly Not at all
Overall quality 40 pts Excellent Satisfactory Needs Improvement
Scholarly research that supports the presenter’s position is properly acknowledged and cited, and direct quotations do not exceed 10% of the word count of the body of the assignment deliverable 50 points Title slide, agenda, tables, exhibits, appendices or reference slides included 25 pts Yes Partially Not at all
Content is original with less than 35% match 25 pts Yes 36–50% 51% or over
Critical thinking: Position is well-justified; logical flow; examples 20 points Position is justified with examples 10 pts Excellent Satisfactory Needs Improvement
Presentation flows logically 10 pts Excellent Satisfactory Needs Improvement
Structure: Includes introduction and conclusion slides, proper slide formatting, and reads as a polished, academic or professional presentation, as appropriate for the required assignment deliverable 15 points Includes introduction and conclusion slides 5 pts Excellent Satisfactory Needs Improvement
Slides are formatted properly with 5 lines of text 5 pts Excellent Satisfactory Needs Improvement
Reads as polished academic or professional presentation 5 pts Excellent Satisfactory Needs Improvement
Mechanical: No spelling, grammatical, or punctuation errors 20 points Spelling and grammar are accurate 10 pts Yes Partially Not at all
Punctuation is accurate 10 pts Yes Partially Not at all
APA: Deliverable is cited properly according to the APA Publication Manual 15 points References are cited in accordance with APA formatting 10 pts Yes Partially Not at all
Reference slide is included 5 pts Yes Partially Not at all
