28 May Background You are the new administrator of th
- Background
You are the new administrator of the Miami Medical Group, a 50 physician multi-specialty group practice. You have 10 years of industry experience and an MHA from the University. The physicians in the group have always been very conservative in dealing with the group’s finances. In the past, the group has never kept extra money in the bank but has distributed it to the doctors. As the group has grown over the past few years, younger physicians have decided to make changes and update their business practices. The younger physicians now control the Board of Directors. You have been asked by the board chairman to design a cash management program that will benefit the practice but keep the older doctors pacified.
The Miami Medical Group occupies a 15,000-square-foot building, which houses the majority of the physicians and all of the ancillary services. The group also operates 3 5,000 square foot practices geographically dispersed throughout the city's various ethnic communities. The group generates $20,000,000 per year in revenue with 70% operating expenses.
Issues
As you begin to design the cash management system, you realize the scope of the assignment is much greater. Cash management only looks at immediate needs, while looming changes on the forefront will dictate the need for a more sophisticated planning process that accounts for the sustainability and viability of the organization for the future.
Many factors complicate the financial planning process, including:
- The Affordable Care Act will be fully implemented in 2014.
- The reimbursement model is changing from fee for service.
- Federal, state, and local regulation and scrutiny of healthcare organizations is increasing.
- Regulators are looking at income distribution within medical groups.
- Assignment
This assignment includes these components: outline, presentation, and a memo: - Prepare an outline of your cash management plan for presentation to the board.
- Prepare a 4-5 PowerPoint slides summarizing your plan to use at the board meeting.
- Prepare a 2-page memo explaining all of the critical issues facing the group on the financial landscape, and explain how the doctors will ultimately benefit from the plan. You must read 4 – 6 peer-reviewed journal articles, and use the information from them to support your outline, presentation, and memo. Your goal is to demonstrate to the doctors your plan is sound and meets the anticipated changes facing them.
- The memo format requirements are as follows:
- Do not exceed 2 pages
- Use a 12-point font
- Use full-block format—single space within paragraphs, and double space between them
- Use standard memo format (To, From, Date, Subject [no “Dear . . . .” salutation or “Sincerely” close—those conventions are for letters, not memo)
- Use APA format to credit your sources—parenthetical references within the memo and the corresponding reference list at the end of the memo
- Credit your sources for the presentation as well
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteEdu. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
Do you need help with this question?
Get assignment help from WriteEdu.com Paper Writing Website and forget about your problems.
WriteEdu provides custom & cheap essay writing 100% original, plagiarism free essays, assignments & dissertations.
With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Chat with us today! We are always waiting to answer all your questions.