HSM 543 Health Services Finance

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HSM 543 Health Services Finance: Comprehensive Support for Your Coursework

HSM 543 Health Services Finance is an essential class that delves into the monetary side of the healthcare industry. It is crucial for managers and decision-making in the healthcare industry to have a firm grasp on the industry’s complex financial landscape. Let’s take a look at a few more specific areas of HSM 543 Health Services Finance:

NR 395 Hot Topic (Summer 2019)

The focus of NR 395 is on current issues in the field of healthcare finance. Emerging trends, legislative shifts, and ongoing challenges that have an impact on the healthcare sector’s economic climate are all possible examples.

NR 395 Coursework (Summer 2019)

Students in NR 395 learn about the financial aspects of healthcare in its entirety. NR 395 Financial analysis, cost reduction methods, the revenue cycle, and planning in the healthcare industry are just some of the subjects that will be covered in this course.

NR 395 Week 2 Journal Entry #1 Form (Summer 2019)

Students are required to keep a diary during the semester in which they record their thoughts and observations on health services finance. Students can record their ideas, research, and analysis on the application of economic principles to the healthcare industry in the NR 395 Week 2 Journal Entry #1 Form.

NR 395 Week 3 Discussion Topic: Quality Improvement Education (Summer 2019)

In NR 395 Week 3, lectures and discussions center on the relationship between health care financing and quality improvement training. In this article, we’ll discuss the significance of include financial considerations in quality improvement programs and the ways in which financial management practices can affect the quality of care given to patients.

NR 395 Week 4 Assignment: Journal Entry #2 Form (Summer 2019)

Students are expected to produce NR 395 Journal Entry #2 in Week 4, expanding on material covered in earlier weeks. Students are prompted to dig deeper into the financial issues and opportunities facing the healthcare industry by completing this assignment.

NR 395 Week 5 Discussion Topic (Summer 2019)

Topics for NR 395 Week 5 include healthcare reimbursement models, financial risk management, and the monetary effects of proposed legislative changes in the healthcare industry. The financial forces that shape the healthcare system are explored in greater detail here.

NR 395 Week 6 Hot Topic (Summer 2019)

In NR 395 Week 6, we’ll go deep into another timely problem in healthcare finance, giving you the chance to learn about and discuss a topic at the forefront of debate right now.

NR 395 Week 7 Discussion Topic (Summer 2019)

During NR 395 Week 7, students engage in a discussion that examines the financial challenges and opportunities associated with healthcare technology adoption, innovation, or digital transformation. This topic highlights the intersection of finance and technology in the healthcare sector.

NR 395 Week 1 Discussion Topic (Summer 2019)

NR 395 Week 1 introduces students to a discussion topic that sets the foundation for the course. It may explore the importance of financial management in healthcare organizations, the role of financial leaders, or the impact of healthcare financing on access to care.

Overall, NR 395 Health Services Finance provides students with a comprehensive understanding of the financial landscape in healthcare. By exploring these subtopics and engaging in discussions, students gain valuable insights into the financial intricacies and challenges faced by healthcare organizations.

FAQs

Question: (CO G) This legislation made more restrictive eligibility criteria for welfare, which in turn restricted eligibility to Medicaid.

Answer: The legislation that made more restrictive eligibility criteria for welfare, which in turn restricted eligibility to Medicaid, is commonly known as the Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) of 1996. This act implemented significant changes to the welfare system in the United States, including the establishment of Temporary Assistance for Needy Families (TANF) program. The eligibility criteria for TANF and other welfare programs were tightened, which had an impact on the eligibility criteria for Medicaid as well.

Question: (CO G) The SCHIP Benefits Improvement and Protection Act included provisions for which of the following?

Answer: The State Children’s Health Insurance Program (SCHIP) Benefits Improvement and Protection Act included provisions for various aspects related to children’s healthcare. Some of the provisions included expanding access to healthcare coverage for uninsured children, improving outreach and enrollment efforts, enhancing benefits and services provided under SCHIP, promoting coordination between SCHIP and Medicaid programs, and strengthening quality and performance measurement for SCHIP.

Question: (CO E) For the capital budget, a step that is required just after identifying and prioritizing requests is to

Answer: After identifying and prioritizing capital budget requests, the next step is typically to analyze the financial feasibility of the requests. This involves evaluating the costs, benefits, and potential returns on investment for each capital project. It may include conducting financial analyses such as net present value (NPV), return on investment (ROI), payback period, and internal rate of return (IRR) calculations to determine the financial viability and feasibility of each project.

Question: (CO E) Budgeting is an important part of the planning process. Describe the relationship of budgeting to the operating plan.

Answer: Budgeting is an integral part of the planning process, particularly the operational planning phase. The operating plan outlines the specific activities, goals, and strategies that an organization intends to pursue to achieve its objectives. The budget, on the other hand, translates the operational plan into financial terms by allocating resources (such as funds, personnel, and materials) to support the planned activities.

The budget provides a detailed financial plan that aligns with the operational plan, specifying the anticipated revenues, expenses, and resource allocation for a given period (typically a fiscal year). It helps ensure that the organization’s financial resources are allocated appropriately and in line with its strategic goals and operational priorities. The operating plan informs the budgeting process, providing the necessary inputs and guidance to develop a realistic and effective financial plan.

Question: (CO B) A major objective of healthcare financial management is to monitor physicians. This is important because

Answer: Monitoring physicians is an important aspect of healthcare financial management for several reasons. One major objective is to ensure appropriate utilization of resources, including medical services and procedures, which directly impact the financial health of healthcare organizations.

Monitoring physicians helps identify any patterns of overutilization or underutilization of services, which can have significant financial implications. By tracking and analyzing physicians' performance, healthcare organizations can identify opportunities for cost containment, improve operational efficiency, and optimize resource allocation.

Additionally, monitoring physicians' practices and adherence to established clinical guidelines and protocols promotes quality of care. It helps identify variations in practice patterns, enables performance comparisons, and facilitates the implementation of evidence-based practices. This can lead to better patient outcomes, increased patient satisfaction, and potentially reduced costs associated with preventable complications or ineffective treatments.

Question: (CO B) A proactive strategy uses all of the following direct measures to define and measure quality except for

Answer: A proactive strategy uses various direct measures to define and measure quality in healthcare. These measures typically include:

Clinical outcomes: These measures assess the results of care, such as mortality rates, complication rates, readmission rates, infection rates, and patient satisfaction scores. Clinical outcome measures provide insights into the effectiveness and safety of healthcare interventions.

Process measures: These measures evaluate the processes and procedures followed in delivering healthcare services. Examples include adherence to clinical guidelines, timely administration of medications, compliance with infection control protocols, and documentation accuracy.

Structural measures: These measures assess the resources and infrastructure of healthcare organizations, including the qualifications and training of healthcare professionals, availability of equipment and technology, and facility accreditation.

Patient-reported measures: These measures capture patients' perspectives and experiences of care, such as patient satisfaction surveys, patient-reported outcome measures (PROMs), and patient-reported experience measures (PREMs). These measures provide valuable insights into the patient’s perception of quality and help identify areas for improvement.

Therefore, the statement in the question is incorrect. A proactive strategy uses all of the mentioned direct measures (clinical outcomes, process measures, structural measures, and patient-reported measures) to define and measure quality in healthcare.

Question: (CO D) The management tool or ratio most often used to evaluate inventory performance is the _____ ratio.

Answer: The management tool or ratio most often used to evaluate inventory performance is the inventory turnover ratio. The inventory turnover ratio is a financial metric that measures how efficiently a company manages its inventory. It calculates the number of times a company’s inventory is sold and replaced within a given period.

The formula for inventory turnover ratio is:

Inventory Turnover Ratio = Cost of Goods Sold / Average Inventory

A higher inventory turnover ratio indicates that inventory is being sold and replenished more frequently, suggesting efficient inventory management and better cash flow. Conversely, a lower inventory turnover ratio may indicate slower inventory turnover, excess inventory, or potential issues with sales and operations.

Question: (CO D) The most commonly used tool to evaluate accounts receivable performance is

Answer: The most commonly used tool to evaluate accounts receivable performance is the accounts receivable turnover ratio. The accounts receivable turnover ratio is a financial metric that measures how efficiently a company collects payments from its customers or clients.

The formula for accounts receivable turnover ratio is:

Accounts Receivable Turnover Ratio = Net Credit Sales / Average Accounts Receivable

This ratio indicates the number of times, on average, a company collects its accounts receivable within a given period. A higher accounts receivable turnover ratio suggests that the company is collecting payments more quickly, which is generally favorable. Conversely, a lower ratio may indicate slower collections, potential issues with credit management or customer payments, and could negatively impact cash flow.

Question: (CO C) Explain the difference in per diem reimbursement in an acute care hospital versus an extended care facility.

Answer: The difference in per diem reimbursement between an acute care hospital and an extended care facility lies in the level and intensity of care provided.

In an acute care hospital, per diem reimbursement typically covers the cost of providing comprehensive medical services, including diagnosis, treatment, and management of acute illnesses or injuries. Acute care hospitals are equipped with specialized medical resources, such as advanced diagnostic equipment, operating rooms, and intensive care units. The reimbursement is generally higher to account for the higher costs associated with staffing, technology, and specialized services.

On the other hand, an extended care facility, such as a skilled nursing facility or a long-term care facility, provides care for individuals who require assistance with daily living activities or need ongoing medical supervision. The per diem reimbursement in extended care facilities is generally lower compared to acute care hospitals, as the level of care provided is less intensive and specialized.

Extended care facilities focus on providing long-term custodial care, rehabilitation services, and assistance with activities of daily living, rather than acute medical interventions. The reimbursement in extended care facilities often covers room and board, basic medical services, assistance with activities of daily living, medication administration, and social support services.

The difference in per diem reimbursement reflects the variation in the level and intensity of care provided by acute care hospitals and extended care facilities.

Services Finance.

Health Services Finance.

HSM 543 Health Services

HSM 543

Syllabus

NR 395 Hot Topic (Summer 2019)

NR 395 Coursework (Summer 2019)

NR 395 Week 2 Journal Entry # 1 Form (Summer 2019)

NR 395 Week 3 Discussion Topic: Quality Improvement Education (Summer 2019)

NR 395 Week 4 Assignment: Journal Entry # 2 Form (Summer 2019)

NR 395 Week 5 Discussion Topic (Summer 2019)

NR 395 Week 6 Hot Topic (Summer 2019)

NR 395 Week 7 Discussion Topic (Summer 2019)

NR 395 Week 1 Discussion Topic (Summer 2019)