18 Nov Hi Students, What a great discussion we have had i
Hi Students, What a great discussion we have had in our discussion forum last week. You all presented very good points about direct and indirect costs and utilization rates. The discussion focused on the impact of the costs on revenue generating departments and how indirect costs were incorporated. Well done!! This week we will not have a discussion forum, you will be learning about working capital and the process involved in researching, evaluating and presenting your capital item for approval. One of your assignments will require you to submit a capital budget that would help the organization respond to industry trends and achieve the mission and strategic goals for your clinics. Remember a capital item is in the category like equipment, something that is tangible, not education or a service, but a item that the organization may benefit from such as an ultrasound machine, or lab equipment or tele health, just a few ideas. In your journal assignment, you will describe how financial statements, calculations, and working capital are used in the organizational budget process You will also identity the main objective of managing cash flows, explain why financial leaders are concerned about having cash on hand. Identify three factors that set health care apart from other industries, why is health care different? Especially in regards to accounts receivables. Also discuss the trends in Medicare and Medicaid and third party payers and how they affect working capital and the revenue cycle. Be sure to review the rubric and guidelines for these two assignments and review your textbook for support. I look forward to reading your assignments as they come in. Please contact me if you need assistance, text message is the quickest way to reach me. Have a good week, stay warm out there on the East Coast Jayme
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