What defines a well-written compliance plan?
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HSM 340 Finance and the Regulatory Components Discussions 1 Week 1
Are there any other types of information besides financial that may be useful in making financial decisions? Identify the major components of a corporate compliance plan, including the establishment of internal controls relating to the finances of an organization. How does legal and regulatory issues shape and define good financial management of a health care organization? What about compliance and internal control? What are they important? Why does financial management need to be conscious of various legal issues? What defines a well-written compliance plan? nternal control is a key focus of financial management.
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HSM 340 Finance and the Regulatory Components Discussions 1 Week 1
Are there any other types of information besides financial that may be useful in making financial decisions? Identify the major components of a corporate compliance plan, including the establishment of internal controls relating to the finances of an organization. How does legal and regulatory issues shape and define good financial management of a health care organization? What about compliance and internal control? What are they important? Why does financial management need to be conscious of various legal issues? What defines a well-written compliance plan? nternal control is a key focus of financial management.
Tags: HSM 340 DISCUSSIONS, HSM 340 DISCUSSIONS WEEK 1 DEVRY
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Discuss the accounting conventions that affect the application
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HSM 340 Accounting Conventions and Methods Discussions 1 Week 2
Discuss the accounting conventions that affect the application of accounting principles. Materiality allows treatment in accordance to GAAP (Generally Accepted Accounting Principles). More than that, it has a certain significance because it makes it necessary for material expenses to be booked in the appropriate time period. What happens if it is not and why not? Historical cost convention is one important factor. If an asset is purchased 5 years ago and recorded at cost, it must be kept recorded at cost in the books. The reason why costs are not updated and changed to market value is the fact that assets fluctuate in value. Do you agree with the cost concept or are there suggestions to treat it differently?
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HSM 340 Accounting Conventions and Methods Discussions 1 Week 2
Discuss the accounting conventions that affect the application of accounting principles. Materiality allows treatment in accordance to GAAP (Generally Accepted Accounting Principles). More than that, it has a certain significance because it makes it necessary for material expenses to be booked in the appropriate time period. What happens if it is not and why not? Historical cost convention is one important factor. If an asset is purchased 5 years ago and recorded at cost, it must be kept recorded at cost in the books. The reason why costs are not updated and changed to market value is the fact that assets fluctuate in value. Do you agree with the cost concept or are there suggestions to treat it differently?
Tags: HSM 340 DISCUSSIONS, HSM 340 DISCUSSIONS WEEK 2 DEVRY
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Discuss the role of direct and indirect cost in the overall costing
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HSM 340 Cost Categories Discussions 1 Week 3
Discuss the role of direct and indirect cost in the overall costing process. How does each type affect the decisions made in expense control and analysis. Healthcare entities classify their cost as direct and indirect. What is the meaning and significance of these cost categories. How do they influence the costing and also the decisions made based on these classification. Focus on our TCO, lesson and text to try to understand these concepts and come-up with your answer. Indirect costs are administrative costs and they can also be the cost of services provided to the entity at large. Take IT services, they cannot be directly linked to a patient, but we know that no patient care can be completed without IT support. What other major areas do you feel can be classified as overhead? What about fixed and variable costs?
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HSM 340 Cost Categories Discussions 1 Week 3
Discuss the role of direct and indirect cost in the overall costing process. How does each type affect the decisions made in expense control and analysis. Healthcare entities classify their cost as direct and indirect. What is the meaning and significance of these cost categories. How do they influence the costing and also the decisions made based on these classification. Focus on our TCO, lesson and text to try to understand these concepts and come-up with your answer. Indirect costs are administrative costs and they can also be the cost of services provided to the entity at large. Take IT services, they cannot be directly linked to a patient, but we know that no patient care can be completed without IT support. What other major areas do you feel can be classified as overhead? What about fixed and variable costs?
Tags: HSM 340 DISCUSSIONS, HSM 340 DISCUSSIONS WEEK 3 DEVRY
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We know that hospitals and physicians are dominant sectors
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HSM 340 Financial Sources Discussions 1 Week 4
List the major nonhospital and nonphysician sectors of the healthcare industry.
We know that hospitals and physicians are dominant sectors in the industry. What are some other sectors and what is their role ? How do they compare to the main sectors. Does the fact that healthcare entities buy services on behalf of patients make the cost containment harder sometimes? As we see, the new healthcare system encourages preventive care. It will reduce cost in the long run. But, why are you covering non-physician sectors? Which do qualify as that?…
HSM 340 Variance Analysis Discussions 2 Week 4
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HSM 340 Financial Sources Discussions 1 Week 4
List the major nonhospital and nonphysician sectors of the healthcare industry.
We know that hospitals and physicians are dominant sectors in the industry. What are some other sectors and what is their role ? How do they compare to the main sectors. Does the fact that healthcare entities buy services on behalf of patients make the cost containment harder sometimes? As we see, the new healthcare system encourages preventive care. It will reduce cost in the long run. But, why are you covering non-physician sectors? Which do qualify as that?…
HSM 340 Variance Analysis Discussions 2 Week 4
Tags: HSM 340 DISCUSSIONS, HSM 340 DISCUSSIONS WEEK 4 DEVRY
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List some of the kinds of information that is needed to evaluate
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HSM 340 Capital Investments Discussions 1 Week 5
List some of the kinds of information that is needed to evaluate a capital investment project. As you know, healthcare requires a lot of equipment. This week,let’s talk about capital budgets. Since this is usually a big investment, a lot of information is needed for the analysis. Let’s talk about the data and information needed to make the proper decision. What would be needed to do this job most appropriately? I look forward to a lively discussion about this important topic. How is cash flow estimated? However, from a financial point of view, cash is scarce and the returns are not as high. We focus on high returns and our mission. If the project is not consistent with our mission, we do not accept it because cash is not always available. What other considerations do you see?…
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HSM 340 Capital Investments Discussions 1 Week 5
List some of the kinds of information that is needed to evaluate a capital investment project. As you know, healthcare requires a lot of equipment. This week,let’s talk about capital budgets. Since this is usually a big investment, a lot of information is needed for the analysis. Let’s talk about the data and information needed to make the proper decision. What would be needed to do this job most appropriately? I look forward to a lively discussion about this important topic. How is cash flow estimated? However, from a financial point of view, cash is scarce and the returns are not as high. We focus on high returns and our mission. If the project is not consistent with our mission, we do not accept it because cash is not always available. What other considerations do you see?…
Tags: HSM 340 DISCUSSIONS, HSM 340 DISCUSSIONS WEEK 5 DEVRY
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List and describe where cash is generated by an organization
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HSM 340 Cash and Assets Discussions 1 Week 6
List and describe where cash is generated by an organization and where an organization uses its cash. We always say that operating cash flow is the most important source of cash, why is that? Is it possible for a firm not to have positive operating cash flow? How can a healthcare firm try to reduce the utilization of lines of credit? How can cash flow be managed to generate cash from operation? How can that be done? We said that many banks give their commercial customers lines of credit to meet situations like that. How does this help firms meet their cash needs? Are short-term loans better?…
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HSM 340 Cash and Assets Discussions 1 Week 6
List and describe where cash is generated by an organization and where an organization uses its cash. We always say that operating cash flow is the most important source of cash, why is that? Is it possible for a firm not to have positive operating cash flow? How can a healthcare firm try to reduce the utilization of lines of credit? How can cash flow be managed to generate cash from operation? How can that be done? We said that many banks give their commercial customers lines of credit to meet situations like that. How does this help firms meet their cash needs? Are short-term loans better?…
Tags: HSM 340 DISCUSSIONS, HSM 340 DISCUSSIONS WEEK 6 DEVRY
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It is all about proper business and clinical management
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HSM 340 HMO, MCO and Health Plans Discussions 1 Week 7
Discuss legal and regulatory issues that affect MCOs. Negotiations with HMO’s are important but they can also be challenging. It is all about proper business and clinical management working together. There are also a lot of legal and regulatory aspects that need to be watched and monitored. Doctors and hospitals need to work together more than ever before. Will the new healthcare system change things? It is all about negotiations and competition. Sometimes are satisfied and sometimes they are not very happy. It is all about negotiations. Do you see the new healthcare system changing things in this area? How is that going to take shape?
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HSM 340 HMO, MCO and Health Plans Discussions 1 Week 7
Discuss legal and regulatory issues that affect MCOs. Negotiations with HMO’s are important but they can also be challenging. It is all about proper business and clinical management working together. There are also a lot of legal and regulatory aspects that need to be watched and monitored. Doctors and hospitals need to work together more than ever before. Will the new healthcare system change things? It is all about negotiations and competition. Sometimes are satisfied and sometimes they are not very happy. It is all about negotiations. Do you see the new healthcare system changing things in this area? How is that going to take shape?
Tags: HSM 340 DISCUSSIONS, HSM 340 DISCUSSIONS WEEK 7 DEVRY
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Flashcard set info:
Author: CoboCards-User
Main topic: Education
Topic: Education
School / Univ.: devry university
City: UK
Published: 12.02.2020
Tags: INTERNATIONAL STUDY, COMPUTER SCiENCE, ENGINEERING & TECHNOLOGY, Accounting, Business, PSCYCHOLOGY, SOCIAL SCIENCE, POLITICAL Science, Social Science, Project Risk Management, ARTS & HUMANITIES, RELIGIOUS STUDIES SOCIOLOGY
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