Access the National Hospital Flash Report and read the “About the Data” section (slide 3). Starting at Slide 11, review your region’s information for profitability, revenues, expenses, and volume.
Write a 350- to 525-word executive summary in which you:
- Describe the results for your geographic area of the United States (state or region) in terms of profitability, revenues, expenses, and volume.
- Explain why you think the financial measures (e.g., profitability, revenues, expenses, and volume) are trending positively or negatively in your region.
- Explain how these financial metrics may equate to quality of care.
Format your citations according to APA guidelines
Submit your assignment.
Resources
Video Transcript is below:
There are two segments to this video.
Background and case scenario.
Hospital costs represent the greatest expense in healthcare.
Evaluating trends in hospital economics and finance helps us to understand healthcare economics.
The current state of hospital finances continues to be a very challenging one.
Since the onset of COVID-19 pandemic in the early 2020, the nation’s hospitals, and as well as the health systems in the country have had to deal with multiple factors impacting their financial performance.
For example, these factors have contributed to workforce shortages, supply disruptions, quality issues, reduced reimbursement by third party payers, and a tremendous significant rising in expenses.
Studies recent financial and economic metrics from hospitals nationwide can be used as a predictor or forecasting of their ability to thrive during this challenging times.
So there is your background. What about a case scenario? Just imagine you have been appointed controller of community hospital.
You know, it has been established that the essence of management is to make decisions to that extent.
It is essential and very important to conduct appropriate data analysis and to deliver effective business data analysis and communications.
In this case scenario, you’re asked to conduct an economic data analysis of community hospital in terms of profitability, revenues, expenses, quality, and volume.
How will you do that? Good luck until we meet again