(FINAL ANSWER) HMGT 322 Assessment # 2 Health Care Financial Concepts Paper

Assessment #2: Health Care Financial Concepts Paper Requirements

Target: 

  • assess health care policies and regulations and employ best practices to ensure compliance with local, state, and federal laws and to identify opportunities for improved performance

From the list of financial concepts, pick only 1-2 financial concepts to discuss.

Search for a healthcare finance related article on the concepts.

In a 3-5 page paper, describe how you can apply the selected financial concepts from the article to your current health care organization or a health care organization of your choice.

Some examples of financial concepts are:

 

  • Revenues or revenue cycle
  • Fixed and variable costs
  • GAAP
  • Contribution margin
  • Breakeven Analysis

SOLUTION

Healthcare Financial Concepts Paper

student

Maryland University Global

HMGT 322: Healthcare Financial Management

9/10/2024

Revenue Cycle and Breakeven Analysis in Healthcare

After reviewing the list of financial concepts, I would choose revenue cycle and breakeven analysis. These concepts are fundamental to understanding healthcare finance and ensuring the financial sustainability of a healthcare organization. The stability of financial status is essential in healthcare organizations, as it guarantees their financial capability to support the needs of patients. Two major financial categories that have a significant impact on this stability are the revenue cycle and breakeven analysis. The revenue cycle is the complete chain of administrative and clinical processes associated with revenue generation and collection from a patient’s consumption of healthcare services (Woolf & Johnson, 2022). Breakeven analysis, on the other hand, is categorized as one of the financial assessment tools that are used in the assessment of the level of productivity in business, whereby every peso income is equal to every peso expenditure and nothing more than that. This paper examines these concepts and how they can be applied in a healthcare organization.

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