HSM543 Week 7 Course Project

Objectives

Please submit your chosen topic and outline for my approval. This will be due along with your Course Project Outline. If you are having difficulty in selecting a topic, please contact me during Week 2 to discuss possible topics that will be of interest and relevant to your own career plans.

Some topical areas that previous HSM 543 students have used successfully for this Course Project include the following.

Accounts receivable management

Operating budget processes

Working capital management

Reimbursement and financial management

Capital investment decision

Hospital strategic financial planning

Cash flow management

Managing hospital investments

Healthcare variance analysis reporting

Hospital wage and benefit management

Personnel recruitment and retention

Transition to value-based care and financial opportunities and challenges

Fundraising for a healthcare facility

Affordable Care Act–mandated Medicare and Medicaid

Financial strategies to control cost and improve net margin

Regardless of your topic, you will be identifying and clearly stating a particular problem or management issue in which an element of the identified problem or situation is not meeting expectations. A few examples follow.

Cash flow to the hospital is inadequate. The CFO does not have enough cash on hand to pay operating bills in a timely manner. How will you improve cash flow?

Hospital investments are currently in CDs, which are earning very low interest rates. A higher return on investment is needed. What are better options for your specific type of healthcare facility, and what is the risk associated with each type of investment recommended?

The clinic cannot recruit and retain enough nurses to keep up with its growing patient population. How will you find more qualified nurses, and how will you keep them once you have hired them?

The hospital facility itself needs to be replaced. How will you determine the capital needs for the project, and how will the funds be raised to accomplish this?

Remember that what appears to be the problem may actually be just a symptom of a bigger problem, so dig deep to be sure you’ve identified the real problem. If there appears to be more than one problem or issue, decide if they are separate or related issues. You will be stating the problem in the form of a question.

You will be given feedback to make sure that you’re on the right track for this assignment. This is due in Week 3.

Category Points % Description

Outline Total 70 100% A quality submission this week will be 1–2 pages in length and include the following.

Identify the topic you have chosen for the Course Project.

A summary of the topic you will be writing about and its importance in the healthcare industry should be included.

Define the problem that you will be trying to suggest a solution for.

Identify possible solutions.

Describe the sources you will be using to conduct your research and analysis.

Course Project Submission: Submit your assignment for grading (200 points).