Health Services Finance

Please post your chosen topic and outline for my approval in the Week 3 Course Project Dropbox. 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 HSM543 students have used successfully for this Course Project include the following.

  • Accounts receivable cycles
  • Operating budget processes
  • Capital budget processes
  • Hospital strategic planning
  • Board of directors reporting
  • Cash flow management
  • Managing hospital investments
  • Healthcare variance reporting
  • Hospital wage and benefit management
  • Personnel recruitment and retention
  • Funding of a construction project
  • Fundraising for a healthcare facility
  • Avenues for grant funding in healthcare

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.

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