Board Fiscal Management in Health Services Discussion

Board Fiscal Management in Health Services Discussion

There is a need for increased revenue reimbursement through inpatient length of stay and outpatient relationships to enhance the financial stability of the health facility in offering services to potential customers. Allocating funds to the proposed improvements will require appropriate funding sources. Further, partnerships will be required to enhance service delivery for markets. The said partnerships entail partnering with local skilled nursing facilities and home health organizations. All these activities are expected to improve revenue for the organization. However, a provision to increase salaries leads to reduced net revenue. The discussion of these aspects concerning funding sources, methodology in revenue forecasting, the impact of new services on revenue, fixed and variable costs, and projected inpatient and outpatient visits based on current trends is covered below. Hire our assignment writing services in case your assignment is devastating you.

Regarding funding sources, the facility will use retained earnings and loans borrowed from lending institutions such as banks and credit institutions. Debt financing will help the company acquire funds to support its operations quickly (Xu & Li, 2020). However, this funding source requires collateral which the company risks losing in the case of a default in payment. The methodology adopted in revenue forecasting entails estimating revenues and expenses likely to be generated from operations. The methodology entails making realistic estimations of the revenue from hiring new staff into the new facility and engaging in partnerships with other revenues. Although the estimation methodology is not 100% accurate, it helps guide the organization in its plans. On the part of fixed and variable expenses, fixed costs will remain the same irrespective of the output made. However, variable expenses vary with the amount of output produced. There are many current trends in healthcare regarding inpatient and outpatient visits (Kirkland et al., 2018). Regarding the final aspect of project inpatient and outpatient visits, the organization must offer affordable and efficient healthcare services.

References

Kirkland, E. B., Heincelman, M., Bishu, K. G., Schumann, S. O., Schreiner, A., Axon, R. N., …   & Moran, W. P. (2018). Trends in healthcare expenditures among US adults with Hypertension: national estimates, 2003–2014. Journal of the American Heart   Association, 7(11), e008731.

Xu, X., & Li, J. (2020). Asymmetric impacts of the policy and development of green credit on the debt financing cost and maturity of different types of enterprises in China. Journal of  Cleaner Production, 264, 121574.

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Increase in revenue reimbursement through inpatient length of stay and outpatient vendor relationships
Allocation for the proposed improvements and required partnerships
Partnering with local skilled nursing facilities and home health organizations

Board Fiscal Management in Health Services Discussion

Increase in salaries
Be sure to discuss the following areas:

Funding sources
Your methodology in revenue forecasting
How the new services will impact revenue?
Fixed and variable costs
Project inpatient and outpatient visits based on current trends
Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:

What did you learn from your classmate’s posting?