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MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER

MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERMHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERWeek 3 will focus on managerial accounting, which is the development and use of information designed to help health services managers perform management and control functions in their organizations. It will cover cost behavior and profit analysis—topics that many consider to be the cornerstones of managerial accounting. The unit’s lectures will discuss cost allocation, pricing, planning, budgeting, and the mechanics of managerial accounting and its value to health services managers.Your Learning Objectives for the Week:MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERDevelop, analyze, and draw conclusions from a healthcare organization’s (HCOs) budget.Analyze and recommend pricing and negotiation strategies under various models of reimbursement.ORDER A PLAGIARISM-FREE PAPER HEREMHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS· Week 3 DiscussionDiscussion TopicMHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERTop of Form Due June 17 at 11:59 PMBottom of FormBefore beginning work on this discussion forum, please review the link “ Doing Discussion Questions Right ,” the expanded grading rubric for the forum, and any specific instructions for this topic.Before the end of the Week, begin commenting on at least two of your classmates’ responses. You can ask technical questions or respond generally to the overall experience. Be objective, clear, and concise. Always use constructive language, even in criticism, to work toward the goal of positive progress. Submit your responses in the Discussion Area.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERReview the  CVP-graph PDF  for more information on CVP graphs and how to read them. Assuming the graphs are drawn to the same scale, consider the break-even charts—cost-volume-profit (CVP) graphs—below for two competing providers operating in a fee-for-service environment. On the basis of your understanding of variable cost rate, per-unit revenue, contribution margin, fixed costs, and the CVP graphs above, answer the following questions:· Explain how the CVP graphs would change if the providers were operating in a discounted fee-for-service environment.· Explain how the CVP graphs would change in a capitated environment. Evaluate which provider is in the best position to grow its business.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER· Provide reasons for and evidence in support of your responses.To support your work, use your course and textbook readings and also use the  South University Online Library . As in all assignments, cite your sources in your work and provide references for the citations in APA format.Your initial posting should be addressed at 300-500 words. Submit your document to this Discussion Area by the due date assigned. Be sure to cite your sources using APA format.Respond to your peers throughout the unit. Justify your answers with examples, research, and reasoning. Follow up posts need to be submitted by the end of the week.Use the following rubric as a guide to complete your discussion responses.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER    · Week 3 ProjectAssignment Top of Form Due June 21 at 11:59 PMBottom of FormBefore beginning work on this assignment, please review the expanded grading rubric for specific instructions relating to content and formatting.Consider the following data and make your best analysis of  per member per month  (PMPM) rates, considering reductions in utilization or pricing. Bay Pines Medical Center estimates that a capitated population of 50,000 would have the following base case utilization and total cost characteristics: MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER  Service Category  Inpatient Days  per 1,000 Enrollees  Average Cost  per Day General  150  $1,500 Surgical  125  $1,800 Psychiatric  70  $700 Alcohol/Drug Abuse  38  $500 Maternity  42  $1,500 Total  425  $1,367 In addition to medical costs, Bay Pines allocates 10 percent of the total premium for administration/reserves. On the basis of your data analysis, respond to the following:· What is the PMPM rate that Bay Pines must set to cover medical costs plus administrative expenses?· What would be the rate if a utilization management program were to reduce utilization within each patient service category by 10 percent? And by 20 percent?· Consider the initial base case utilization assumption. What rate would be set if the average cost on each service were reduced by 10 percent?· Assume that both utilization and cost reductions were made. What would the premium be?To support your work, use your course and textbook readings and also use the South University Online Library. As in all assignments, cite your sources in your work and provide references for the citations in APA format.Submission Details:MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER·  Your assignment should be addressed in an 8- to 10-page document.·  Submit your document to this appropriate Submissions Area by the due date assigned.MHC6305 WEEK 3 LECTURECost AllocationAn HCO, such as a hospital, has many departments that provide services to patients, such as surgery or emergency care. It also has departments that do not provide services to patients but are nevertheless necessary for providing services, for example, sterilization of instruments for surgery. The surgical department cannot operate without oxygen, sterile instruments, supplies of pharmaceuticals, and a host of other real and intangible services. Among intangibles is a billing department to collect payment for the surgeries. Cost allocation is a process like budgeting, in which the cost of the centers that do not produce revenue are allocated to the departments that use their services. For example, the surgical department may be a heavy user of the services provided by the surgical instrument sterilization department but not the nursing units.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER.  It would not be fair for both these departments to pay an equal share of the cost of sterilization of surgical instruments. The cost allocation exercise decides what proportion of the total budget of the surgical instrument sterilization department should be applied to the surgery department and what proportions to other departments that are revenue centers. These costs are indirect, but they go into providing the service offered by the surgery department. This is true of all of the services that enable services that create revenue. The cost allocation process can cause friction within the organization as the revenue earning departments do not want the cost burdens that lower their departmental performance, especially when they feel the cost shares are unfair. As a leader, you must understand the concept of cost allocation and the internal friction it can bring about so that you can deal with these issues in, what TV channels like to call, fair and balanced ways.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERIn this lecture we looked setting prices and introduce planning a budget. The assignments are critical to cementing your understanding of these processes and concepts. Spend the time you need to get comfortable with them.Pricing and Service DecisionsPricing and service decisions are related but separate. Service decisions involve reviewing the community’s needs and the supply of some of these needs by other organizations to determine what and how much services are needed. For example, if another organization is providing orthopedics but not urology, you probably need to provide urology and not focus on orthopedics. If another organization is a level III tier center and is nearby, it probably does not make sense for you to be a level I trauma center. You will likely not see much business, but a trauma center requires doctors on staff for all major traumas at all times, which is very expensive. MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER. Service decisions are among the first decisions you should make and involve taking a holistic view of the community and deciding which services you should offer. Pricing decisions involve a look at the indirect costs discussed earlier, such as charity care and bad debt, and the contracted prices for the services. Medicare; Medicaid; private payers; third-party payers, such as Blue Cross/Blue Shield; and self-payers are different types of payers and make up a payer mix. A spreadsheet or a computer model can be used to analyze the prices and the services to be provided to each of these types of payers and to estimate the revenue. The hospital or another service provider cannot adjust the prices paid by the government under Medicare and Medicaid, but it can negotiate prices with all other payers.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERBesides the social cost, understand that this type of behavior on the part of HCOs is what causes the government to step in and regulate prices. It is wiser for you as a leader to understand that cost-shifting may work for now but might also cause catastrophe for your organization later.Strategic PlanningStrategic planning is the basis of all of the organization’s future endeavors. Strategic planning is founded on the organization’s mission, vision, and values but does not provide managers with the details needed for everyday operations. By managing the budget day by day, the operational details are uncovered. What is obtained from the strategic plan is a vision of the organization over a period of five years or so. This timeline is necessary because many of the capital projects that an organization takes on, such as construction of new buildings, takes place over a period of several years. An Operational Budget will forecast in a detailed method a review of all potential or estimated income which the organization can identify. MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER. Traditionally this projection or forecasting of organizational revenue is defined in a relative period of time—for most organizations this time frame is a year—however, it may be a calendar year or the organization’s own year (a fiscal year) defined by its budget protocol and may well be, as an example, June of 2014 to May 2015. The Operational Budget is representative of the entire entity and as such must rely upon the creation of sub-budgets first which are usually departmental in nature. These sub-budgets serve to drive the completed organization’s Operational Budget and as such must be detailed and accurate. One critical element to always remember here is that for all organizations the Operational Budget is short term in nature (1 year) and therefore, as outlined in the GAAP will not generally include Capital Outlay as CO is Long-Term Cost.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERIn this unit, we looked at different types of accounting methods and methodologies. We talked about gross and net profit, examined revenue from direct and indirect costs, and discussed the social implications of certain types of revenue and expense issues.Inherent in these discussions were marketing decisions such as the types of services to offer, comparisons with other HCOs, the services needed by a community, and projections for the future on the basis of the expected growth of the community. Please review the following for more information before doing the assignments.CVP-Graph 6/14/2021 Rubric Assessment – MHC6305-Financial Management of Healthcare Organizations SU01 – South Universityhttps://myclasses.southuniversity.edu/d2l/lms/competencies/rubric/rubrics_assessment_results.d2l?ou=78100&evalObjectId=386597&evalObjectType=5&userId=4901&viewTypeId=3&rubricId=6574&gr… 1/2ClosePrint Rubric SUO Discussion Rubric (80 Points) – Version 1.2 Course: MHC6305-Financial Management of Healthcare Organizations SU01/ 40MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERResponse No Submission 0 pointsEmerging (F-D: 1-27) 27 pointsSatisfactory (C: 28-31) 31 pointsProficient (B: 32-35) 35 pointsExemplary (A: 36-40) 40 pointsCriterion ScoreQuality of InitialPostingNo initial posting exists toevaluate.The information provided isinaccurate, not focused onthe assignment’s topic,and/or does not answer thequestion(s) fully. Responsedemonstrates incompleteunderstanding of the topicand/or inadequatepreparation.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERThe information provided isaccurate, giving a basicunderstanding of the topic(s)covered. A basicunderstanding is when youare able to describe theterms and concepts covered.Despite this basicunderstanding, initial postingmay not include completedevelopment of all aspects ofthe assignment.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERThe information provided isaccurate, displaying a goodunderstanding of the topic(s)covered. A goodunderstanding is when youare able to explain the termsand topics covered. Initialposting demonstrates sincerereflection and addressesmost aspects of theassignment, although allconcepts may not be fullydeveloped.The information provided isaccurate, providing an in-depth, well thought-outunderstanding of the topic(s)covered. An in-depthunderstanding provides ananalysis of the information,synthesizing what is learnedfrom the course/assignedreadings.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER/ 20Participation No Submission 0 pointsEmerging (F-D: 1-13) 13 pointsSatisfactory (C: 14-16) 16 pointsProficient (B: 17-18) 18 pointsExemplary (A: 19-20) 20 pointsCriterion ScoreParticipation inDiscussionNo responses to otherclassmates were posted inthis discussion forum.May include one or more ofthe following:*Comments to only one otherstudent’s post.*Comments are notsubstantive, such as just oneline or saying, “Good job” or“I agree.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER*Comments are off topic.Comments to two or moreclassmates’ initial posts butonly on one day of the week.Comments are substantive,meaning they reflect andexpand on what the otherstudent wrote.Comments to two or moreclassmates’ initial posts onmore than one day.Comments are substantive,meaning they reflect andexpand on what the otherstudent wrote.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERComments to two or moreclassmates’ initial posts andto the instructor’s comment(if applicable) on two or moredays. Responses demonstratean analysis of peers’comments, building onprevious posts. Commentsextend and deepenmeaningful conversation andmay include a follow-upquestion.6/14/2021 Rubric Assessment – MHC6305-Financial Management of Healthcare Organizations SU01 – South Universityhttps://myclasses.southuniversity.edu/d2l/lms/competencies/rubric/rubrics_assessment_results.d2l?ou=78100&evalObjectId=386597&evalObjectType=5&userId=4901&viewTypeId=3&rubricId=6574&gr… 2/2Total / 80Overall Score/ 20MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERWriting No Submission 0 pointsEmerging (F-D: 1-13) 13 pointsSatisfaction (C: 14-16) 16 pointsProficient (B: 17-18) 18 pointsExemplary (A: 19-20) 20 pointsCriterion ScoreWriting No Submission 0 pointsEmerging (F-D: 1-13) 13 pointsSatisfaction (C: 14-16) 16 pointsProficient (B: 17-18) 18 pointsExemplary (A: 19-20) 20 pointsCriterion ScoreWriting Mechanics(Spelling, Grammar,Citation Style) andInformationLiteracyNo postings for which toevaluate language andgrammar exist.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERNumerous issues in any ofthe following: grammar,mechanics, spelling, use ofslang, and incomplete ormissing citations andreferences. If required for theassignment, did not usecourse, text, and/or outsidereadings (where relevant) tosupport work.Some spelling, grammatical,and/or structural errors arepresent. Some errors informatting citations andreferences are present. Ifrequired for the assignment,utilizes sources to supportwork for initial post but notcomments to other students.Sources include course/textreadings but outside sources(when relevant) include non-academic/authoritative, suchas Wikis and .com resources.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERMinor errors in grammar,mechanics, or spelling in theinitial posting are present.Minor errors in formattingcitations and references mayexist. If required for theassignment, utilizes sourcesto support work for both theinitial post and some of thecomments to other students.Sources include course andtext readings as well asoutside sources (whenrelevant) that are academicand authoritative (e.g.,journal articles, other textbooks, .gov Web sites,professional organizationWeb sites, cases, statutes, oradministrative rules).MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERMinor to no errors exist ingrammar, mechanics, orspelling in both the initialpost and comments toothers. Formatting ofcitations and references iscorrect. If required for theassignment, utilizes sourcesto support work for both theinitial post and the commentsto other students. Sourcesinclude course and textreadings as well as outsidesources (when relevant) thatare academic andauthoritative (e.g., journalarticles, other text books,.gov Web sites, professionalorganization Web sites,cases, statutes, oradministrative rules).MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERNo Submission 0 points minimumThere was no submissionfor this assignment.Emerging (F to D Range) 1 point minimumSatisfactory progress has not been met on thecompetencies for this assignment.Satisfactory (C Range) 56 points minimumSatisfactory progress has been achieved onthe competencies for this assignment.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPERProficient (B Range) 64 points minimumProficiency has been achieved on thecompetencies for this assignment.Exemplary (A Range) 72 points minimumThe competencies for thisassignment have been mastered.MHC6305 WEEK 3 DISCUSSION AND PROJECT INSTRUCTIONS PAPER

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