Health Financial Management Individual Ass.

Learning Goal: I’m working on a health & medical multi-part question and need the explanation and answer to help me learn.

One of the goals of Health Service Managers is to achieve a basic level of competency in epidemiology to address issues such as population health and chronic disease. Health Service Managers also research consumer spending to help contribute to the practice of Health Services Management research. You will gain foundational skills by developing an Income and Expense Budget in Microsoft Excel to meet the annual financial goal of the department at a healthcare organization. In this assignment, you will complete the Income and Expense Budget, then write a one-page summary using the “Sample Paper� format to describe your data to your department head.

Background

You were recently hired as a Health Service Manager in the Orthopedic Department at a high-performing medical center. One of your first tasks was to create an Income and Expense Budget. Your department head also said that within the next three months, you would need to research and use the Income and Expense Budget to determine the Medicare and Medicaid patient populations (i. e. children, pregnant women, parents, seniors, and individuals with disabilities). The department head also commented that initially, the government paid 100% under the ACA between 2014-2016. The states will have to pay their percentage and manage the increasing costs by tapping into tax revenues, making hospitals help, and adding work requirements and premiums (the data showed the government payments in 2016: 100%, 2017: 95%, 2018: 94%, 2019: 93%, and 2020 and each year thereafter 90%). The states began paying the difference in the percentage costs in 2017.

Assignment

• Download and use the format in the “Sample Paper.â€�
• Review Chapter 14, Budgeting, in the textbook.
• Review and Analyze the Video: Income and Expenditure Spreadsheet at https://www.youtube.com/watch?v=buIupSWqmmc
• Use the data in the table below to create your expense budget and the date and reference numbers.

Income Expenditures

Procedure A, Hip Replacement 10,000 Inventory 5000

Procedure B, Back Surgery 13,000 Supplies 4000

Procedure C, Knee Replacement 15,500 Admin Salary 1000

Procedure D, Hip Fracture 5,000 Physician Salary 3000

Procedure E, Pediatric Surgery 5,000 Nurse Salary 2000

Procedure A, Hip Replacement 5,000 Admin Salary 2000

Procedure A, Hip Replacement 2,000 Physician Salary 4000

Procedure C, Knee Replacement 10,000 Nurse Salary 3000

Procedure C, Knee Replacement 5,000

• Use the three-table format provided in the video and create the Excel spreadsheet.
• Create a thesis statement based on your findings from the Income less Expenditures. Write a 1-page paper in APA (2020) format. Include a cover page, and attach your budget in MS Excel as Appendix A.

• The paper should follow the SESC format of state, explain, support, and conclude; see the “Sample Paper.â€�

• Hint: Remember to describe Appendix A in your paper.

• Review the Rubric to maximize points.

HSM 331-90, Individual Assignment 2

Income and Expense Budget

Module 3

Step-by-Step Instructions:

1. Review and analyze the Video: “Income and Expenditures Spreadsheet� at https://www.youtube.com/watch?v=buIupSWqmmc
2. Open a new file (workbook) in Microsoft Excel.
   1. Create three tables on the MS Excel Worksheet (view the video for details).
   2. Use the data provided in the above data section to populate Tables 1-3.
   3. Create your dates, customer names, and references to add to the columns.
   4. In Table 1: Total Income, add the procedure and value. Add all the values and place the total summation at the top of the table.
   5. In Table 2: Total Expenditures, add the expenditures and the value. Add all the values and place the total summation at the top of the table.
   6. In Table 3: Income Less Expenditures, calculate the expenditures less income and place the total summation at the top of the table.
   7. Copy the tables, add them on pages 2-3 of the 1-page paper, and add the Appendix as the title.
3. Write a 1-page paper in APA (2020) format. The paper should follow the SESC (State, Explain, Support, Conclude) format. Use the Sample Paper or the APA (2020) manual.
   1. Add the title of your paper.
   2. In the first paragraph, State what you are writing about. At the end of the first paragraph, add your thesis statement.
   3. Next, above the second paragraph, add an APA Sublevel Heading of less than ten words.
   4. In the second paragraph, Explain and Support your rationale by using in-text citation references related to financial management, and discuss your Income and Expense Budget outcomes.
   5. In the third paragraph, provide a Conclusion of your findings and recommendations.
   6. Add a Reference page. Your references should be in APA (2020) format and related to financial management.