PRINCIPLES OF HEALTHCARE BUSINESS & FINANCIAL MANAGEMENT.
PRINCIPLES OF HEALTHCARE BUSINESS & FINANCIAL MANAGEMENT
Current trends in healthcare, the recent recession and sluggish economic environment, and the passage of the Affordable Care Act have forced the U.S. healthcare system
to develop better ways to provide effective care for less cost. Healthcare providers and facilities must demonstrate to the government, payers, and the public that
they provide care that is high quality, safe, and at a reasonable cost. Becoming a healthcare provider of choice while closely managing the costs of doing business and
ensuring appropriate financial reimbursements is the new reality for organizations and providers in the healthcare arena.
This assessment challenges you to demonstrate understanding of today’s complex healthcare environment while using the business and financial skills learned to develop
a strategic plan to move your organization from the world of fee-for-service (FFS) to value based purchasing (VBP). You will evaluate your organization’s position and
strategy for the implementation of VBP requirements. You will need to identify the key stakeholders that would be involved (e.g., board members, senior leadership
team, physicians, directors, managers, staff, patients, and families). You will also need to identify the critical departments of your organization (e.g., nursing,
clinical support departments, case management, supply chain, education, finance, decision support, risk management, revenue cycle, medical staff office, physician
services, physician practices, community and public relations, marketing). Consider the various roles and functions for each department and stakeholder group and
determine which roles should be included in a strategic plan that you will develop.
Your strategic plan will include elements to educate, communicate, mobilize, and monitor the tactics you wish to implement. You will identify the clinical and customer
service components of VBP in the next three years and develop a strategy to identify, educate, and inform all stakeholders of the organization’s vision to achieve
excellence in patient care and the highest reimbursements possible for the next three years.
Note: Your submission may be in the format of a business plan document or a multimedia presentation. If a multimedia presentation is selected, speaker notes must be
used to include the necessary level of detail and support. The executive summary in requirement C must be a separate document.
A. Evaluate your organization’s current status with implementation of VBP by doing the following:1. Discuss to what degree your organization has embraced VBP.
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