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FP 5006 CU Revenue Sources for Healthcare Facilities Essay
- Prepare a lecture for an introductory health care finance class on types of revenue sources for health care organizations. For each revenue source, explain the purpose of the program, how the organization is reimbursed, and the benefits of the program. Note: The assessments in this course build upon each other, so you are strongly encouraged to complete them in sequence.SHOW LESS By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
- Competency 1: Develop financial strategies to address dynamic environmental forces. (L24.2, L24.5, L17.2)
- Explain the benefits of reimbursement programs.
- Competency 2: Analyze the cost and revenue implications for organizational changes due to environmental forces. (L18.2, L12.1)
- Analyze the reimbursement process that health care organizations must undertake.
- Competency 4: Communicate in a manner that is scholarly, professional, and consistent with expectations for professionals in health care administration. (L6.1, L6.2, L6.3, L6.4)
- Explain the purpose of health care reimbursement programs.
- Write content clearly and logically with the correct use of grammar, punctuation, and mechanics.
- Format citations and references using the APA style.
- Competency Map
CHECK YOUR PROGRESSUse this online tool to track your performance and progress through your course.
- Competency 1: Develop financial strategies to address dynamic environmental forces. (L24.2, L24.5, L17.2)
- Toggle DrawerContext
Sustainable health care organizations are charged with balancing clinical and fiscal facets of the operation. It has become increasingly important for health care leaders at all levels within an organization to become comfortable with financial statements and basic accounting principles. As an early careerist, you may be involved in conversations to evaluate existing and new health care service lines. You may be asked to participate in various financial activities such as team budgeting activities, developing a departmental budget, or contributing to strategic planning or finance department meetings. As a mid or advanced careerist, you may be evaluating higher-level organization financing options, determining cash flow needs, or perhaps presenting financial information to the CEO and board. SHOW LESSRegardless of your position within the organization, a basic understanding of health care finance is a critical success factor for effective and responsible health care leadership. - Toggle DrawerQuestions 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 your professional community. SHOW LESS- What types of accounting are you familiar with? How have you used it or seen it used?
- How can you use knowledge of revenue sources to help in financial forecasting?
- Toggle DrawerResources
Suggested Resources
The resources provided here are optional and support the assessment. They provide helpful information about the topics. You may use other resources of your choice to prepare for this assessment; however, you will need to ensure that they are appropriate, credible, and valid. MHA-FP5006: Health Care Finance and Reimbursement Library Guide can help direct your research. The Supplemental Resources and Research Resources, both linked from the left navigation menu in your courseroom, provide additional resources to help support you.- Harrison, C., & Harrison, W. P. (2013). Introduction to health care finance and accounting. Clifton Park, NY: Cengage Learning/Delmar. Available in the courseroom via the VitalSource Bookshelf link.
- Chapter 1, “Overview of the American Health Care System,” pages 3–22.
- Chapter 2, “Paying for Health Care,” pages 23–38.
- Chapter 3, “The Rising Costs of Medical Services and Health Care Reform,” pages 39–56.
- SHOW LESSAdditional Resources for Further Exploration
You may use the following optional resources to further explore topics related to competencies. This tool enables you to practice learning health care finance and accounting commonly used terms. - Health Care Finance Flashcards | Transcript.
- This website contains information on care coverage, facility reimbursement, and costs of care.
- Medicare.gov. (n.d.). Retrieved from https://www.medicare.gov/
- This website contains comprehensive information on Medicaid and CHIP coverage and reimbursement.
- Medicaid.gov. (n.d.). Retrieved from https://www.medicaid.gov/
- This article discusses managed care plans including HMO, PPO, and POS plans and provides links to helpful websites.
- U.S. National Library of Medicine: Medline Plus. (n.d.). Managed care. Retrieved from http://www.nlm.nih.gov/medlineplus/managedcare.htm…
- This is the website for the leading association for health care finance leaders with links to industry initiatives, education, forums, and publications.
- Healthcare Financial Management Association. (n.d.). Retrieved from http://www.hfma.org/?
- Harrison, C., & Harrison, W. P. (2013). Introduction to health care finance and accounting. Clifton Park, NY: Cengage Learning/Delmar. Available in the courseroom via the VitalSource Bookshelf link.
- Assessment Instructions
Preparation
Look in the Capella University Library and on the Internet to find resources on Medicare, Medicaid, and managed care. Specifically, you need information on what each program is, how it works, and how organizations receive reimbursements from each. You will need these resources to complete this assessment. For the purpose of this assessment, suppose you work for a large health care organization that partners with the local college on a number of initiatives. As a part of that partnership, you have been asked to be a guest presenter for an introductory health care finance class. You need to explain sources of health care revenue and how the reimbursement process works. You need to prepare a 45-minute lecture on that topic. There is no prescribed format for this assessment, but you must reference at least three resources and follow the APA guidelines. Just be sure that your assessment is organized logically and your information is presented clearly.Requirements
Write a 45-minute lecture plan for an introductory health care finance class. (You will not be evaluated on whether your lecture plan is actually 45 minutes in length.) The three types of revenue sources you will cover are the following:- Medicaid.
- Medicare.
- Managed Care.
- For each of the revenue sources, you must do the following:
- Explain the purpose of the program.
- Analyze the process of reimbursement for health care organizations.
- What steps must be taken in order to receive reimbursement for services?
- How complicated is each step?
- What kind of information is required from the organization?
- How long does it take to receive reimbursement?
- Explain the benefits of the program for both patients and health care organizations.
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