- Description
INTRODUCTION TO HEALTH CARE FINANCE
The Latest Version A+ Study Guide
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HCS 219 Entire Course Link
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HCS 219 Week 1 Financial Concepts Worksheet
Resource: Financial Concepts Worksheet
You work for a financial consulting firm, and one of your clients, Lauren Johnson, is exploring the possibility of opening a health care facility. She is unsure of the financial aspects associated with health care, though. You must provide her with relevant information and answer any questions she may have.
Lauren has sent you a document that contains ten financial concepts. She would like you to explain each in your own words, and to also include a brief explanation of how each is used in health care.
Complete the Financial Concepts Worksheet in 700 to 1,050 words.
Explain each financial concept in your own words.
Include a brief explanation of how each concept is used in health care.
Click the Assignment Files tab to submit your assignment.
Financial Concepts Worksheet
In the table below, explain each financial concept in your own words. Also include a brief explanation of how each is used in health care.
| Financial Concept | Explanation | How it is Used in Health Care |
| Quarterly Reporting | ||
| Revenue | ||
| Clinical view | ||
| Planning | ||
| Controlling | ||
| Process view | ||
| Chart of accounts | ||
| Expenses | ||
| General ledger | ||
| Nonprofit Organization |
HCS 219 Week 1 First E-mail to Lauren
From Lauren:
Hey there, I have some questions for you that I’m hoping you can help me with. I’ll break them into bullets to make it a little easier to manage. Here you go:
- What’s the difference between managerial and financial accounting? What are each used for? Can you also provide some examples and descriptions of reports used in each area?
- I’ve also heard the term “double-entry accounting”. Can you explain what that is?
- I know there will be various stakeholders, but I’m not sure who they may be. Can you identify some of the different financial stakeholders in a health care setting? Will you also include examples of the types of reports or reporting each stakeholder will need?
Thanks so much for your help. I look forward to learning much from you!
Lauren
Write a 700- to 1,050-word e-mail response to Lauren. Include any graphics, tables, or diagrams you wish.
Click the Assignment Files tab to submit your assignment.
HCS 219 Week 2 Ratio Analysis
Resource: Ratio Analysis Data Sets 1-6
Your manager at the consulting firm suggests that you send Lauren some examples of calculated ratios with explanations of the data. He has provided data for two fictional companies that you can use.
Compute the ratios for Company A and Company B for the following:
- Current Ratio
- Quick Ratio
- Days Cash Available
- Debt-To-Net-Worth
- Debt Service Coverage Ratio
- Operating Margin
- Return on Equity
Provide a comparison of the ratio results for each company by describing which one has the more favorable result and what this means with respect to overall financial and operational performance. For example, what is the implication of having a better Quick Ratio?
Include, based on the overall results, which organization you think is stronger financially and why?
Click the Assignment Files tab to submit your assignment.
HCS 219 Week 2 Game Review: Income Statement & Balance Sheet Training
Your manager at the consulting firm has asked you to test out a new game he developed for new employee training. The game requires the user to classify income statement items and balance sheet items.
Complete the game and save a copy of the completion page.
Click the Assignment Files tab to submit a copy of the completion page to your instructor.
HCS 219 Week 3 Second E-mail to Lauren
From Lauren:
Hello again! Thanks for all of the great information you’ve provided so far. It’s been really helpful. I’ve been doing some more research myself and need some help processing some information.
Here’s what I need help with:
- Can you explain the different types of budgets that would be used in health care facilities?
- Can you give me a list of 8-10 basic cash management tools, and include a brief description of how each is used?
- Regarding the Statement of Cash Flows
- Can you explain the importance of good cash flow in a business and how it aids in the overall success of an entity?
- What are the major sections of the Statements of Cash Flows and what elements or basic activities are included in each section?
- If a negative cash flow exists for a given time period, is this is always bad for the business?
Thanks again for all of your help,
Lauren
Write a 700- to 1,050-word e-mail response to Lauren. Include any graphics, tables, or diagrams you think will help your response.
Click the Assignment Files tab to submit your assignment.
HCS 219 Week 3 Time Value of Money Worksheet
Resource: Time Value of Money Worksheet
You decide it would be good to send Lauren some additional information regarding time value of money concepts.
Complete the Time Value of Money Worksheet.
Click the Assignment Files tab to submit your assignment.
Time Value of Money Worksheet
Part 1: Complete the following table by inserting your responses to the questions. Cite any sources you use.
| Define the time value of money. | |
| Provide a real-world example for the time value of money. | |
| Why is time such an important factor in financial matters? | |
| How would you use the time value of money to your financial benefit? |
Part 2: Complete the following tables by calculating the ratios.
| Amount | Compounding period | Rate of interest | Present value |
| $100,000 | Annual | 6% for 10 years | |
| $70,000 | Annual | 4% for 15 years |
| Initial cost of investment | Periods of useful life | Estimated annual net cash inflow generated | Look-up table value | Rate of interest |
| $75,000 | 10 | $10,190 | ||
| $56,000 | 6 | $12,115 |
| Purchase price of equipment | Period of useful life | Annual revenue generated per year | Operating costs associated with revenue | Depreciation expense per year | Payback period result |
| $550,000 | 10 years | $100,000 | $32,000 | $55,000 | |
| $350,000 | 10 years | $80,500 | $36,000 | $35,000 |
HCS 219 Week 3 Investment Training
Your manager at the consulting firm has asked for your help with training materials again. This time, he’s asked you to create a document about investing funds.
Write a 350- to 700-word explanation of major principles of investing funds.
Cite 2 peer-reviewed, scholarly, or similar resources to support your document.
Format your document according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
HCS 219 Week 4 Third E-mail to Lauren
From Lauren:
I think I’m starting to catch on to all of this, but after talking with someone recently, I have some more questions.
- What are the primary sources of revenue for health care?
- Can you explain revenue cycle management and how it affects the amount of revenue generated and cash flow for a health care entity?
- Can you explain the process of billing to insurance companies? And how does the reimbursement work? What kind of affect does billing and reimbursement have on revenue cycle management?
That’s it for now.
Thanks,
Lauren
Write a 700- to 1,050-word e-mail response to Lauren. Include any graphics, tables, or diagrams you wish.
Format your e-mail according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
HCS 219 Week 4 Insurance Training
Your manager at the consulting firm has asked for your help with training materials again. This time, he’s asked you to create a document about insurance.
Write a 350- to 700-word document describing the process of transferring risk through the purchase of insurance.
Cite 2 peer-reviewed, scholarly, or similar resources to support your document.
Format your document according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
HCS 219 Week 5 Signature Assignment: Financial Challenges Presentation
Health care entities constantly face financial challenges that influence the cost of delivering quality health care services. Some factors that have an impact on an organization’s ability to manage and sustain a viable organization include economical changes, the Affordable Care Act, government demands, an increase in bad debt, insurance restructuring, and meeting quality measures. Understanding how to address these elements is essential to the continued success of a health care entity.
Select a current issue in health care finance such as:
- High deductible health plans
- Insurance contracting
- Accountable Care Organizations
- Technological advances
- Medicaid funding and reimbursement.
Create a 7- to 10-slide Microsoft® PowerPoint® presentation with detailed speaker notes in which you discuss your chosen issue.
Address each of the following in your presentation:
- Explain the roles of the stakeholders affected by the financial issue.
- Explain the factors contributing to rising health care costs related to the financial issue.
- Identify legislation that affects the financial issue.
Format your presentation according to APA guidelines.
Cite 2 peer-reviewed, scholarly, or similar references to support your presentation. All references should be in APA format within your speaker notes and at the end of your presentation. You should also cite any graphics from other sources used in your slides.
Click the Assignment Files tab to submit your assignment.