As a regional healthcare administrator for a long-term care organization, you have been asked to train a new group of healthcare administrators who just completed their degrees. They have no work experience in healthcare administration or financial management. For this assignment, you will develop a 10–12 slide narrated PowerPoint presentation explaining the role of healthcare administrators in fiscal planning and financial management.
Your presentation should address each of the following:
Explain how fiscal planning ties into the strategic planning. Be sure to provide at least two concrete examples. In this context, fiscal planning may be considered strategic financing.
Describe the role (direct or indirect) that healthcare administrators play in budgeting. Specifically address the role administrators play in the construction and implementation of operating and capital budgets.
Assess how fiscal planning and financial management help ensure that provider organizations remain compliant with federal, state, and local regulations. Conversely, you should assess how those regulations impact fiscal planning and healthcare financial management.
Review the 4 Cs of healthcare finance: cost, capital, control, and cash by writing a brief definition of each and explain, with rationale, the impact of the 4 Cs on the success of health service organizations.
Propose the application of Lean Six Sigma concepts as a tool for in strengthening the revenue cycle of provider organizations.