What leadership strengths could you utilize to address the task of motivating your team to engage in meeting financial targets?

Overview

Create a 10–12-slide PowerPoint presentation that communicates a leadership plan to address financial gaps within your organization. Use Kaltura or another technology to narrate and record a 10–15-minute audio presentation.

Note: You are strongly encouraged to complete the assessments in this course in the order

To remain viable, health care organizations need leaders who can meet financial targets by effectively leading their teams. Whether you work for a nonprofit, for-profit, or government facility, financial goals and targets will influence your leadership priorities. These internal benchmarks, when considered with respect to finite, available resources, create leadership challenges for maintaining fiscal and clinical balance. You may recall a quote from Irene Krause, who started the idea of “No Margin, No Mission.” So, regardless of what your corporate structure might be, all leaders must contribute towards the financial health and profit margin of the organization.

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

· Competency 3: Analyze characteristics of effective team leadership. (L5.4, L26.5, L1.4)

· Analyze evidence-based strategies of effective team leadership in a plan to motivate team members to achieve departmental financial targets within a health care organization.

· Competency 4: Examine how financial forecasts guide organizational leadership. (L8.4)

· Identify financial targets including performance indicators and measurements for a department within a health care organization.

· Analyze gaps in financial targets versus YTD performance or goal attainment for a department within a health care organization.

· Propose a leadership plan to close identified financial gaps for a department within a health care organization.

· Competency 5: Communicate in a manner that is scholarly, professional, and consistent with expectations for professionals in health care administration. (L6.1, L6.2, L6.3, and L6.4)

· Develop a presentation that is clear, concise, well organized, and appropriate for internal stakeholders.

Questions to Consider

To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.

· What leadership strengths could you utilize to address the task of motivating your team to engage in meeting financial targets?

· What organizations are you aware of that can help you improve your financial skill sets?

Resources

Suggested Resources

Library Resources

The following e-books or articles from the University Library are linked directly in this course:

· Broom, K. D., & Turner, J. S. (2015). A competency-based approach to functional area expertise: Extending competency-based education to a healthcare finance area of concentration. The Journal of Health Administration Education, 32(1), 25–46.

· Daiker, B. L. (2013). Adaptive challenges in medical practices. The Journal of Medical Practice Management: MPM, 28(6), 332–340.

· Rauscher Singh, S., & Wheeler, J. (2012). Hospital financial management: What is the link between revenue cycle management, profitability, and not-for-profit hospitals’ ability to grow equity? Journal of Healthcare Management, 57(5), 325–339.

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Bookstore Resources

The resources listed below are relevant to the topics and assessments in this course and are not required.

· Ledlow, G. R., & Coppola, M. N. (2014). Leadership for health professionals: Theories, skills, and applications (2nd ed.). Burlington, MA: Jones & Bartlett Learning.

· Rubino, L. G., Esparza, S. J., & Chassiakos, Y. S. R. (2014). New leadership for today’s health care professionals: Concepts and cases. Burlington, MA: Jones & Bartlett Learning.

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· Assessment Instructions

Note: You are strongly encouraged to complete the assessments in this course in the order in which they are presented. If you require the use of assistive technology or alternative communication methods to participate in this activity, please contact Disability Services to request accommodations.

Required Deliverables

This assessment has two parts.

· Part 1: PowerPoint Presentation.

· Part 2: Audio Recording. (Only Notes needed)*

Preparation

Before you create and submit your Deliverables, complete the following:

3. Revisit the environmental analysis conducted in Assessment 1. If you did not conduct a PEST analysis in Assessment 1, consider the possibility of conducting one now to examine the larger industry context in which your organization’s financial forecast is developed.

3. Select and identify two financial targets for your department, along with the performance indicators and measurements. For example: x% compliance with coding, 90% + rating for patient satisfaction scores (on a 1–5 scale), 5% profit margin for service line Y, and so on.

3. Look for professional or scholarly journal articles on characteristics of effective team leaders and strategies for leading effective teams. You will need a minimum of five articles to use as resources for this assessment.

Directions

Read the requirements for each part carefully.

Part 1: PowerPoint Presentation

Create a PowerPoint presentation you could present to internal executive stakeholders. The presentation needs to briefly and succinctly communicate your leadership plan to address financial gaps you have identified within your department.

Organize your PowerPoint slides in a way that makes sense for your organization. Be sure your slides include the following elements:

. An overview of the environmental analysis from Assessment 1, with a financial focus.

. The two identified financial targets for your department, along with the performance indicators and measurements.

. A gap analysis of financial targets versus YTD performance or goal attainment. Include your observations, trends, and insights.

. An evidence-based leadership plan to address the identified gaps.

9. Analyze the organizational culture and strategic direction, along with strategies for leading your departmental team that consider your strengths and are supported by credible professional resources. You may include team incentives such as profit sharing, or other benefits (tuition reimbursement, seminars, software, HFMA memberships, and other incentives) to motivate your team.

9. Include your leadership style, the method that you use or will use with your team, and inclusion of evidence-based leadership approaches.

You may choose to organize your slides in the following fashion:

. Cover slide: Topic, course, your name, name of the organization this would be for, and date.

. Objective: Example – “Leadership plan to support goal attainment of organizational targets.” Customize to fit your needs.

. Environmental Analysis (1–3 slides): SWOT analysis from Assessment 1 along with a PEST analysis – 3–5 bullet points with salient, high-impact, relevant points.

. Organizational Directive: Your two identified financial targets, along with performance indicators and measures.

. Gap Analysis: Actual versus target variance, followed by your observations and insights (3–4 bullet points).

. Leadership Plan (2–4 slides): 2–4 evidence-based recommendations, including your strategies for leading your team; your leadership approach; and methods, metrics, insights, and observations.

. References: Include authoritative sources only. Use numbered footnotes in your slides. Follow APA format for references.

. Other: You may certainly choose to add graphics and special effects, but these additions will not impact your evaluation either positively or negatively.

Part 2: Audio Recording (Notes/Script needed) *

Use Kaltura or another technology to record a narrated presentation of the main points. Before you begin recording, you may find it beneficial to write a script or detailed outline that you can refer to as you record. Keep in mind that you will typically have no more than 10 minutes to present your PowerPoint and answer questions. The presentation you record should not be longer than 10–15 minutes.

Include the notes or script of your audio recording. You may choose to include this in the form of the completed Notes section of the PowerPoint presentation slides, as a script you may have used when you created your recording, or in the form of a detailed outline. This will serve to clarify any insufficient or unclear audio, or if you cannot complete the audio recording. Note: If your notes or script are not included in the PowerPoint presentation, please include them in a separate document along with the other presentation elements.

Additional Requirements

. Structure: Include a title slide and reference slide.

. Length (Part 1): 10–12 slides.

. Duration of audio recording (Part 2): 10–15 minutes.

. References: At least five current scholarly or professional resources.

. Format: APA format for references and citations only.

. Font: Use a font that is consistent with the expectations of your organization, for example, Times New Roman, Arial, or Calibri.