HMGT 322 7981 Week 4 Assessment # 2 Health Care Financial Concepts Paper

From the list of financial concepts, pick only 1-2 financial concepts to discuss.

Search for a healthcare finance related article on the concepts.

In a 3-5 page paper, describe how you can apply the selected financial concepts from the article to your current health care organization or a health care organization of your choice.

Some examples of financial concepts are:

·         Revenues or revenue cycle

·         Fixed and variable costs

·         GAAP

·         Contribution margin

·         Breakeven Analysis

·         Capitation

·         Income statements

·         Balance sheets

·         Cost value analysis

·         Cost allocation methods

·         Auditing process

·         General knowledge of health care laws and regulations

·         Time value of money

·         Financial statement analysis

·         Cost of capital

·         Financial risk

·         Insurance and risk

·         Ratio analysis

·         Analytics

·         Budgeting (operational and capital)

·         Forecasting

·         Lease financing

·         Cost control

·         Benchmarks

·         HIPAA privacy act

·         Affordable Care Act (ACA)

·         JCAHO

·         ICD-10

·         Profit vs. non-profit

·         Best practices

·         Compliance

Be sure to include the following:

1.

1.  Provide a summary of the article (must be healthcare related). Articles should be within the last 5-10 years for current articles.

2.  Provide an explanation of the financial concept(s) found in the article.

3.  Provide an example of how you can apply these financial concept(s) to your current health care organization or to the health care organization of your choice (i.e. John Hopkins Hospital, Mayo Clinic)*.

4.  Include the source of the article in the paper and include another source above the current article (a minimum of 2 sources are required).