Scenario: Financial Statement Analysis

3 Pages

Overview

In this activity, you will examine a health care scenario to gain an appreciation for business realities that are not readily reflected in financial statements. Then you will craft and explain a likely operational question relevant for a department of your choosing.

Preparation

View the Villa Health Financial Statement Analysis scenario.
Download the Villa Health Financial Statement from the scenario. A link to it can be found in the scenario.
Select an operational area of a typical hospital such as emergency room, IT, intensive care, purchasing, et cetera, upon which to base this activity.

Scenario

Imagine you are the leader for your selected hospital operation and were sitting in the Villa Health board meeting. At the end of the meeting the CFO asked, “Are there any other questions?” You have been considering this question with respect to your department. What financial questions should you be asking to improve the performance of the department?

Instructions

Considering the scenario, craft a question that represents a likely operational concern or issue for your department. Explain why the question is important to the operational success of the department, using a specific example to illustrate. Make and state any assumptions that are not directly addressed in the scenario to help you support the rationale for your question.

References

Emergency Department Quality Improvement: Transforming the Delivery of Care

https://www.changehealthcare.com/insights/metrics-demonstrating-performance-value-emergency-department

Data-Driven Operations Improve ED Efficiency

https://www.ahrq.gov/sites/default/files/publications/files/ptflowguide.pdf

https://www.healthleadersmedia.com/finance/5-hospital-finance-questions-ask-right-now?page=0%2C1

https://viehealthcare.com/how-to-improve-your-hospitals-financial-performance/

5 Measurements Your Hospital Should be Tracking to Improve Financial Health

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