Assignment 1:Time Value of Money, Assignment 2: Business and Financial Research Project Part B: Strategy Planning and SWOT Analysis

July 28, 2023July 28, 2023 Discipline: Finance
  • One of the most fundamental tenets of financial management relates to the time value of money. The time value of money technique is important in healthcare financial management when we discount all future expected reimbursements to today’s value.
    You are required to use Dr. He’s Financial Abacus for DNP (XLS) to solve all the questions. Please copy and paste the Excel tables to a Microsoft Word document when you answer these questions.
    1. You invested $20,000 in a CD with the annual interest rate of 11%. How much money would you have after 5 years? (Use the future value of a single amount table.) [10 points] 
    2. Gary Kiraly wants to buy a new CT scan machine in three years. The machine is expected to cost $80,000 at that time. If Gary should be so lucky as to find an investment yielding 12% over that three-year period, how much would he have to invest now to accumulate $80,000 at the end of the three years? (Use the present value of a single amount table.) [10 points] 
    3. You contribute $6,000 to an individual health saving account every year for the next 20 years. We assume that you never make a withdrawal. The interest rate is 8%. How much money would you be able to accumulate after 20 years? (Use the future value of an annuity table.) [15 points] 
    4. You have just won a medical litigation settlement with the amount of $300,000. Your settlement will be paid to you in 30 equal annual installments with $10,000 every year for the next 30 years. If the quoted annual interest rate is 9%, what is the present value of the stream of installments you will receive? (Use the present value of an annuity table.) [15 points] 
    5. If you want to accumulate special health insurance subsidy funds of $140,000 in 13 years, how much must you save every year in an account that pays an annual interest rate of 14%? (Use annuity equaling a future value.) [15 points] 
    6. John and Peggy recently bought a clinic. They financed the clinic with a $125,000, 30-year mortgage with a nominal interest rate of 7 percent. Mortgage payments are made at the end of each month. What is the mortgage payment per month? (Use the annuity equaling a present value table.) [15 points] 
    7. Marcia Stubern is planning for her golden years.  She will retire in 20 years, at which time she plans to begin withdrawing $60,000 annually.  She is expected to live for 20 years following her retirement.  Her financial advisor thinks she can earn 9% annually (both before and after her retirement). How much does she need to invest each year to prepare for her financial needs after her retirement? [20 points] 
    To view the assignment rubric for this course, please go to My Grades in your course menu. Locate the assignment in the list and select View Rubric.

  • Instructions

    After having written your business plan earlier in the course in Week 2, the next step is to create mission, vision, and values for your business practice and conduct a SWOT analysis. Strategic planning not only helps you look for opportunities to expand your medical practice, it also makes you analyze your current condition. A good strategic plan includes a mission statement, which leads to planning, documenting, and executing all the milestones that will be met.
    Strategic planning for your medical practice is similar to driving a car across the country. You must be aware of where you are, critically examine your present condition, and set milestones to reach where you want to be. It can be achieved by implementing a technique called SWOT analysis. A SWOT analysis in health care allows a medical practice to explore internal strengths and weaknesses as well as external opportunities and threats. What makes a SWOT analysis essential for medical practitioners is that it can help you see opportunities that you can exploit, understand weaknesses that you can manage, and acknowledge threats that you might have overlooked.
    Revisit the business plan you created in the Business and Financial Research Project Part A and use insight gained from this week’s discussion to complete the following tasks.
    1. Create the following for your business practice: mission, vision, and values.
    2. Conduct a SWOT analysis to evaluate the strengths, weaknesses, opportunities, and threats of your business practice). 
    Your strategy plan should be 3-6 pages in length, double spaced. Make sure that the page count does not include the title page or reference list. Be sure to use formal writing mechanics. The assignment can include references, if necessary. You will likely need to conduct additional research outside of the learning materials provided.
    To view the assignment rubric for this course, please go to My Grades in your course menu. Locate the assignment in the list and select View Rubric.

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