Propose your choice of hospital and rational. Do not use 1st person. Describe in detail the hospitals mission. What is the industry or purpose?
You will take the information you gathered from Milestone 1 and use it for the top part of Milestone 3 and add in more information for each section. Please note that for the Legislation part- each section builds off of the previous section.
Organizational Impact
Organization Impact
Propose your choice of hospital and rational. Do not use 1st person. Describe in detail the hospitals mission. What is the industry or purpose? For example, St. Judes is a non-profit hospital whose mission is to provide care to pediatrics with specific cancers at no further cost to the parents (St. Judes, 2021). No direct quotes but summarize and cite the information using the hospitals website.
What are the sub-industries? For example, St. Judes also has a huge research center linked to their mission of curing cancer in pediatric patients (St. Judes, 2021).
What is the hospitals financial background? Find 1-2 specific examples of the yearly income and expenses. Is the facility solvent? What do the numbers mean?
Nonprofit or For Profit
Is the organization you selected a nonprofit or a for-profit? What differences will this make in terms of economic policy impact? What is your organizations tax status? How is your healthcare facility affected by economic legislation based on their tax status?
Demand Theory
Accurately describe how the demand theory is reflected in the hospitals financial statements. Answer the question: How do you know your facility is in demand? This may take a little bit of reasonable deduction when reviewing the yearly financials of the hospital. For demand, you can look for new services being provided or a new building going up to better serve the community? Has there been an increase in patient services in a particular area? Etc.
You can find this information sometimes in the communication to the community, press releases and Google. For example, Google Johns Hopkins Bulletins and many sites show up including the library at JH where all the bulletins are stored. You can search that JH data base.
Market Behavior Impact
Explain how the market behavior of the healthcare industry impacts the financial statements of the organization at various times throughout the year and the rationale for these yearly fluctuations. One area to look at is fundraising and any published pro-bono work. Fundraisers bring money in [income]; whereas, pro-bono cases cause spending of money [expenses]. You can also look at the publications for the community. Again, you can Google your facility and yearly changes and see what pops up!
Economic Legislative Changes
Legislative Changes
Considering the economic and legislative changes you researched, what changes are most likely to impact your organization, and why? Utilizing your SWOT legislation explain how that policy has affected your facility. Provide a good example. You cannot use our healthcare system, the ACA/Obama care. The legislation must be economic policy that affects healthcare.
Policy Changes and Impact
Then using the economic policy/legislation above, what was an internal policy that needed to change to be compliant with that law?
Statement Impact
Continuing with the same economic policy, how does the policy affect the financial statements of your organization? Add in an example or two from your organization for your example.
Potential Disparities
Continuing with the same economic policy, what is a specific healthcare disparity that was created? Provide a well-developed recommendation to fix the healthcare disparity using evidence-based research.
