HCS 577 Week 6 Learning Team Assignment Health Care Business Analysis

HCS 577 Week 6 Learning Team Assignment Health Care Business Analysis Recent

Resources: Budgets under Chief Financial Officer in the Patton-Fuller Community Hospital Virtual Organization, the Health Care Budget assignment from Week Five, and the Health Care Business Analysis Grading Criteria located on your student website

Provide your Week Five Health Care Budget assignment to your Learning Team.

Choose which team member’s budget assignment you will use as a starting point.

Review the 2009 Budget Issues – Nurses in the Patton-Fuller Community Hospital Virtual Organization.  This can be found on the Chief Financial Officer’s web page under Special Projects.

Decide which of the two highlighted options on the Nursing Statistics memo of the 2009 Budget Issues – Nurses you will implement.

Discuss, as a team, the decision-making process in creating a budget.

Create a new 2010 Operating Budget Projection based on your labor decision from the Nursing Statistics memo.

Create a 15- to 20-slide Microsoft® PowerPoint® presentation with detailed speaker notes in which you do the following:

• Present your 2010 Operating Budget Projection. Include an introduction in which you do the following:

• Differentiate between managerial accounting and financial management.

• Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.

• Justify your decision. Include numbers from the organization to support your analysis, such as numbers related to accounting principals, fiscal management, the balance sheet, and so on.

• Analyze the effect of your decision on the operating budget.

• What is the opportunity cost of your decision?

• How does budget performance affect patient care and employee satisfaction?

• How are finance and accounting related to an operating budget?

• Explain the role of cost measurement in maintaining the operating and capital budgets via variance analysis.