Provide a brief background to any financial problem (i.e. dealing with an organization’s mission, vision, strategic/financial plans, finances, issues, charge-masters, payment system and sources of revenue, regulatory issues impacting profit maximization, provider payments and pricing in the system, and type of delivery system) in a chosen organization or system. Consider any financial problem that may affect the company or a system and relates to the health sector, such as, financial decision-making, billing/coding, DRGs/relative weights, legal environment, community benefit, revenue, health insurance, accounting, financial statements, inflation, financial position, strategic planning, cost concepts, pricing, control processes, cost analysis, working capital, mergers, and cash budgets.
Please explain how long has the problem existed? How does this problem compare to problems in other similar companies? What efforts have already been attempted to resolve the problem? How does this problem fit within the healthcare sector? Examine the organization’s or system’s information and evaluate how this information can support resolving the financial healthcare problem that you have identified in the organization.
Assess as to how the organization can financially and/or strategically can address the problem identified. Include the changes that you would make to ensure the problem is resolved.
Note: If you do not work in the healthcare field, or you do not have access to that organization’s or system’s operational or financial information you will have the choice of using mock data (you can find organizational examples in the textbook, SIU library or through the Internet, etc.) as needed to fill in any missing data or choose a mock organization to discuss a financial problem. You may then use this information to complete all required weekly assignments and discussion topics.