The final project for this course is the creation of a written proposal.
While healthcare organizations differ greatly, managers in various departments in organizations must propose changes to processes, the purchase of new equipment, the addition of employees, and many other changes to executives and boards to obtain approval. For this course, you will place yourself in the role of a manager in an organization of your choice. You are tasked with creating a written proposal that will add value to an organization and will impact the budget. This may come in the form of adding updated equipment, changing a process to become more streamlined, and so on. You will be submitting your proposal to your instructor, who will be playing the roles of CEO and budgetary board, for consideration. This assessment will require you to defend your proposal in terms of the value added and the financial impacts to the organization, as you would need to in the real world.
You will select your organization from the following site to ensure that sufficient financial information is available for consideration: http://www.sec.gov/cgi-bin/current.pl?q1=0&q2=0&q3=. This SEC page is updated frequently, and you should look for a healthcare-related organization, such as a hospital, lab, or even a health insurance company. Whichever company you choose should have a 10-K form, which is the audited annual report containing financial information. If you are unable to find a healthcare organization this way, reach out to your instructor for assistance. You must confirm with your instructor that the topic or area of interest of your proposal will allow you to sufficiently answer all of the questions in the prompt below. You also have the option of selecting your place of employment, within healthcare, as approved by your instructor.
The project is divided into four milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Two, Three, Four, and Six. The final project will be submitted in Module Seven.
In this assignment, you will demonstrate your mastery of the following course outcomes:
- Articulate key managerial accounting principles in healthcare using appropriate terminology
- Determine financial impacts in healthcare by analyzing major forces affecting the delivery of health services
- Utilize financial statements to inform short-and long-term strategic planning
- Craft high-level proposals that address budgeting consideration by justifying spending for healthcare services