Prepare a lecture for an introductory health care finance class on types of revenue sources for health care organizations. For each revenue source, explain the purpose of the program, how the organization is reimbursed, and the benefits of the program.
Note: The assessments in this course build upon each other, so you are strongly encouraged to complete them in sequence.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
· Competency 1: Develop financial strategies to address dynamic environmental forces. (L24.2, L24.5, L17.2)
· Explain the benefits of reimbursement programs.
· Competency 2: Analyze the cost and revenue implications for organizational changes due to environmental forces. (L18.2, L12.1)
· Analyze the reimbursement process health care organizations must undertake.
· Competency 4: Communicate in a manner that is scholarly, professional, and consistent with expectations for professionals in health care administration. (L6.1, L6.2, L6.3, L6.4)
· Explain the purpose of health care reimbursement programs.
· Write content clearly and logically with correct use of grammar, punctuation, and mechanics.
· Format citations and references using APA style.
Sustainable health care organizations are charged with balancing clinical and fiscal facets of the operation. It has become increasingly important for health care leaders at all levels within an organization to become comfortable with financial statements and basic accounting principles. As an early careerist, you may be involved in conversations to evaluate existing and new health care service lines. You may be asked to participate in various financial activities, such as team budgeting activities, development of a departmental budget, or contributing to strategic planning or finance department meetings. As a mid or advanced careerist, you may be evaluating higher-level organization financing options, determining cash flow needs, or perhaps presenting financial information to the CEO and board.
Regardless of your position within the organization, a basic understanding of health care finance is a critical success factor for effective and responsible health care leadership.
Questions to Consider
To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community.
· What types of accounting are you familiar with? How have you used it or seen it used?
· How can you use knowledge of revenue sources to help in financial forecasting?