Your expertise in healthcare finance has attracted the attention of some of the newer employees in your organization.
Instructions
Your expertise in healthcare finance has attracted the attention of some of the newer employees in your organization. Wanting to become managers someday, they have asked you to share some of what you know in the online journal that serves as the company’s knowledge-sharing portal. Create a journal assignment in which you respond to these specific topics from your colleagues:
Describe the ways in which financial statements, financial calculations, and working capital are used in the organizational budget process
Identify the main objective of managing cash flows
Explain why financial leaders are concerned about having cash on hand
Identify the three factors that set the healthcare industry apart from most other industries with regard to accounts receivable
Explain the ways in which trends within Medicare, Medicaid, and third-party payers affect working capital and the cost elements associated with the revenue cycle
For additional details, please refer to the Module 4 guidelines and rubric
IHP 450 Module Four Journal Rubric
Prompt: Your expertise in healthcare finance has attracted the attention of some of the newer employees in your organization. Wanting to become managers someday, they have asked you to share some of what you know in the online journal that serves as the company’s knowledge-sharing portal. Create a journal assignment in which you respond to these specific topics from your colleagues:
Describe the ways in which financial statements, financial calculations, and working capital are used in the organizational budget process Identify the main objective of managing cash flows Explain why financial leaders are concerned about having cash on hand Identify the three factors that set the healthcare industry apart from most other industries with regard to accounts receivable Explain the ways in which trends within Medicare, Medicaid, and third-party payers affect working capital and the cost elements associated with the
revenue cycle
Critical Elements Proficient (100%) Needs Improvement (55%) Not Evident (0%) Value Uses of Financial
Statements, Financial
Calculations, and Working Capital
Assignment accurately describes the primary ways in which financial statements, financial calculations, and working capital are used in the organizational budget process
Assignment is missing some important ways in which financial statements, financial calculations, or working capital are used in the organizational budget process, or some descriptions are inaccurate
Assignment does not describe the primary ways in which financial statements, financial calculations, and working capital are used in the organizational budget process
22
Objective of Managing Cash
Flow
Assignment accurately identifies the main objective of managing cash flows
Assignment does not accurately identify the main objective of managing cash flows
12
Concern about Cash on Hand
Assignment accurately explains why financial leaders are concerned about having cash on hand
Explanation as to why financial leaders are concerned about having cash on hand is incomplete or inaccurate in important respects
Assignment does not explain why financial leaders are concerned about having cash on hand
22
Factors that Set the Healthcare Industry Apart
Assignment accurately identifies all of the factors that set the healthcare industry apart from most other industries with regard to accounts receivable
Identification of the factors that set the healthcare industry apart from most other industries with regard to accounts receivable is incomplete or inaccurate in important respects
Assignment does not identify the factors that set the healthcare industry apart from most other industries with regard to accounts receivable
22
Effects of Trends within Medicare,
Medicaid, and Third-Party
Payers
Assignment accurately explains the ways in which trends within Medicare, Medicaid, and third- party payers affect working capital and the cost elements associated with the revenue cycle
Assignment is missing some important ways in which trends within Medicare, Medicaid, and/or third-party payers affect working capital and the cost elements associated with the revenue cycle, or some of the explanations are inaccurate
Assignment does not explain ways in which trends within Medicare, Medicaid, and third- party payers affect working capital or the cost elements associated with the revenue cycle
22
Earned Total 100%
