Moraine Valley Community College Strategic Financial Planning in Healthcare Paper
Question Description
A. Explain the activities of each step of the revenue cycle in the order they occur.
1. Describe the work of health information management (HIM) staff members during each step of the revenue cycle in which they would be involved.
2. Explain how coding and billing cycle processes impact healthcare organization revenue cycles.
3. Explain how the operating revenue impacts the revenue cycle.
B. Explain how to evaluate the financial condition of a healthcare organization.
1. Explain how financial statements are reviewed for an organization to determine its profitability and risk.
2. Discuss factors that influence the financial viability of a healthcare organization.
C. Discuss how the financial decision-making process impacts the operations of a healthcare organization.
D. Discuss how each of the following Fraud & Abuse regulations impact the financial decisions made by a healthcare organization:
Stark II
Anti-Kickback Statute
False Claims Act
1. Discuss the importance of Stark II to healthcare providers.
2. Discuss the importance of the Anti-Kickback Statute to healthcare providers.
3. Discuss the importance of the False Claims Act to healthcare providers.
E. Analyze the factors that influence healthcare pricing in healthcare organizations.
F. Discuss the relationship between financial planning and strategic planning.
1. Explain how a financial plan is developed.
a. Recommend how a HIM manager should interact with the finance department to ensure the efficacy of a financial plan.
G. Explain the financial management control process, including budgeting and financial planning.
H. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. An originality report is provided when you submit your task that can be used as a guide.
You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.
RUBRIC
NOT EVIDENT An explanation is not provided. |
APPROACHING COMPETENCE The explanation does not include the activities of each step of the revenue cycle in the order they occur, or the explanation is illogical or unclear. |
COMPETENT The explanation includes the activities of each step of the revenue cycle in the order they occur, and the explanation is logical and accurate. |
NOT EVIDENT A description is not provided, or the description makes no reference to the work and involvement of HIM staff members during each step of the revenue cycle. |
APPROACHING COMPETENCE The description does not address the work and involvement of HIM staff members during each step of the revenue cycle. The ideas presented are irrelevant or poorly supported. |
COMPETENT The description addresses the work and involvement of HIM staff members during each step of the revenue cycle. The ideas presented are relevant and well supported. |
A2. CODING AND BILLING CYCLE PROCESSES:
NOT EVIDENT An explanation is not provided, or the explanation makes no reference to how coding and billing cycle processes impact healthcare organization revenue cycles. |
APPROACHING COMPETENCE The explanation does not address how coding and billing processes impact healthcare organization revenue cycles, or the explanation is irrelevant or unclear. |
COMPETENT The explanation addresses how the coding and billing processes impact healthcare organization revenue cycles and is relevant and clear. |
NOT EVIDENT An explanation is not provided, or the explanation makes no reference to how the operating revenue impacts the revenue cycle. |
APPROACHING COMPETENCE The explanation does not address how the operating revenue impacts the revenue cycle, or the explanation is irrelevant or unclear. |
COMPETENT The explanation addresses how the operating revenue impacts the revenue cycle and is relevant and clear. |
NOT EVIDENT An explanation is not provided, or the explanation makes no reference to how to evaluate the financial condition of a healthcare organization. |
APPROACHING COMPETENCE The explanation does not address how to evaluate the financial condition of a healthcare organization, or the explanation is irrelevant or unclear. |
COMPETENT The explanation addresses how to evaluate the financial condition of a healthcare organization and is relevant and clear. |
NOT EVIDENT An explanation is not provided, or the explanation makes no reference to how financial statements are reviewed for an organization to determine its profitability and risk. |
APPROACHING COMPETENCE The explanation does not address how financial statements are reviewed for an organization to determine its profitability and risk, or the explanation is illogical or poorly supported. |
COMPETENT The explanation addresses how financial statements are reviewed for an organization to determine its profitability and risk, and the explanation is logical and well supported. |
NOT EVIDENT A discussion is not provided, or the discussion makes no reference to factors that influence the financial viability of a healthcare organization. |
APPROACHING COMPETENCE The discussion does not address the factors that influence the financial viability of a healthcare organization, or the ideas presented are poorly supported or unclear. |
COMPETENT The discussion addresses the factors that influence the financial viability of a healthcare organization, and the ideas presented are well supported and clear. |
C. FINANCIAL DECISION-MAKING PROCESS:
NOT EVIDENT A discussion is not provided, or the discussion makes no reference to how the financial decision-making process impacts the operations of a healthcare organization. |
APPROACHING COMPETENCE The discussion does not address how the financial decision-making process impacts the operations of a healthcare organization, or the discussion is poorly reasoned or unclear. |
COMPETENT The discussion addresses how the financial decision-making process impacts the operations of a healthcare organization, and the discussion is well reasoned and clear. |
NOT EVIDENT A discussion is not provided, or the discussion makes no reference to how each of the given regulations impacts the financial decisions made by a healthcare organization. |
APPROACHING COMPETENCE The discussion does not address how each of the given regulations impacts the financial decisions made by a healthcare organization. The discussion is poorly reasoned or poorly supported. |
COMPETENT The discussion addresses how each of the given regulations impacts the financial decisions made by a healthcare organization. The discussion is well reasoned and well supported. |
NOT EVIDENT A discussion is not provided, or the discussion makes no reference to the importance of Stark II to healthcare providers. |
APPROACHING COMPETENCE The discussion does not address the importance of Stark II to healthcare providers, or the discussion is irrelevant or unclear. |
COMPETENT The discussion addresses the importance of Stark II to healthcare providers, and the discussion is relevant and clear. |
D2. IMPORTANCE OF ANTI-KICKBACK STATUTE:
NOT EVIDENT A discussion is not provided, or the discussion makes no reference to the importance of the Anti-Kickback Statute to healthcare providers. |
APPROACHING COMPETENCE The discussion does not address the importance of the Anti-Kickback Statute to healthcare providers, or the discussion is irrelevant or unclear. |
COMPETENT The discussion addresses the importance of the Anti-Kickback Statute to healthcare providers, and the discussion is relevant and clear. |
D3. IMPORTANCE OF FALSE CLAIMS ACT:
NOT EVIDENT A discussion is not provided, or the discussion makes no reference to the importance of the False Claims Act to healthcare providers. |
APPROACHING COMPETENCE The discussion does not address the importance of the False Claims Act to healthcare providers, or the discussion is irrelevant or unclear. |
COMPETENT The discussion addresses the importance of the False Claims Act to healthcare providers, and the discussion is relevant and clear. |
NOT EVIDENT An analysis is not provided, or the analysis makes no reference to the factors that influence healthcare pricing in healthcare organizations. |
APPROACHING COMPETENCE The analysis does not address factors influencing healthcare pricing in healthcare organizations, or the ideas presented are illogical or poorly supported. |
COMPETENT The analysis addresses the factors influencing healthcare pricing in healthcare organizations, and the ideas presented are logical and well supported. |
F. FINANCIAL AND STRATEGIC PLANNING:
NOT EVIDENT A discussion is not provided, or the discussion makes no reference to the relationship between financial planning and strategic planning. |
APPROACHING COMPETENCE The discussion does not address the relationship between financial planning and strategic planning, or the ideas presented are irrelevant or illogical. |
COMPETENT The discussion addresses the relationship between financial planning and strategic planning, and the ideas presented are relevant and logical. |
F1. FINANCIAL PLAN DEVELOPMENT:
NOT EVIDENT An explanation is not provided, or the explanation makes no reference to how a financial plan is developed. |
APPROACHING COMPETENCE The explanation does not address how a financial plan is developed, or the explanation is illogical or poorly supported. |
COMPETENT The explanation addresses how a financial plan is developed, and the explanation is logical and well supported. |
NOT EVIDENT A recommendation is not provided, or the recommendation makes no reference to how a HIM manager should interact with the accounting department to ensure the efficacy of a financial plan. |
APPROACHING COMPETENCE The recommendation does not address how a HIM manager should interact with the accounting department to ensure the efficacy of a financial plan, or the recommendation is poorly supported or illogical. |
COMPETENT The recommendation addresses how a HIM manager should interact with the accounting department to ensure the efficacy of a financial plan, and the recommendation is well supported and logical. |
G. FINANCIAL MANAGEMENT CONTROL PROCESS:
NOT EVIDENT An explanation of the financial management control process is not provided, or the explanation makes no reference to either budgeting or financial planning. |
APPROACHING COMPETENCE The explanation of the financial management control process does not address either budgeting or financial planning, or the explanation is illogical or poorly supported. |
COMPETENT The explanation of the financial management control process addresses both budgeting and financial planning, and the explanation is logical and well supported. |
NOT EVIDENT The submission does not include both in-text citations and a reference list for sources that are quoted, paraphrased, or summarized. |
APPROACHING COMPETENCE The submission includes in-text citations for sources that are quoted, paraphrased, or summarized, and a reference list; however, the citations and/or reference list is incomplete or inaccurate. |
COMPETENT The submission includes in-text citations for sources that are properly quoted, paraphrased, or summarized and a reference list that accurately identifies the author, date, title, and source location as available. |
NOT EVIDENT Content is unstructured, is disjointed, or contains pervasive errors in mechanics, usage, or grammar. Vocabulary or tone is unprofessional or distracts from the topic. |
APPROACHING COMPETENCE Content is poorly organized, is difficult to follow, or contains errors in mechanics, usage, or grammar that cause confusion. Terminology is misused or ineffective. |
COMPETENT Content reflects attention to details, is organized, and focuses on the main ideas as prescribed in the task or chosen by the candidate. Terminology is pertinent, is used correctly, and effectively conveys the intended meaning. Mechanics, usage, and grammar promote accurate interpretation and understanding. |
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