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HCM 400 Milestone Three Guidelines and Rubric

Submit a draft proposal for Section I, parts C and D (see below). Using the approved healthcare organization and the information you have gathered, identify the
capital budget item or items that will be used as the basis for the written capital budget proposal. You should include how the proposal recommendations reflect
the big-picture view of healthcare.

Specifically the following critical elements must be addressed:

I. Introduction
C. Opportunities: Based on your analysis of the major forces, impacts, and opportunities provided, consider the specific organization that you

selected. What opportunities exist for this organization, and how do these opportunities relate to the big-picture view of healthcare?
D. Proposal: What is your proposal for addressing identified issues or improvements within your organization? In other words, what changes are

you trying to incorporate in your selected organization?

Guidelines for Submission: Your paper must be submitted as a Microsoft Word document and should be a minimum of one page in length with double spacing,
12-point Times New Roman font, one-inch margins, and at least two sources cited in APA format.

Critical Elements Proficient (100%) Needs Improvement (85%) Not Evident (0%) Value
Opportunities Translates the big-picture view of

healthcare to the selected
organization to identify areas of
opportunity

Identifies areas of opportunity
within the selected organization,
but without the connective detail
to the big-picture view of
healthcare

Does not identify areas of
opportunity within the selected
organization

45

Proposal Conceptualizes reasonable
change(s) for proposal within the
organization based on the
identification of opportunities

Conceptualizes change(s) for
proposal within the organization,
but changes are not reasonable
or not based on the identification
of opportunities

Does not conceptualize
changes for proposal within the
organization

45

Articulation of Response Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization

Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact readability
and articulation of main ideas

Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas

10

Earned Total 100%

  • HCM 400 Milestone Three Guidelines and Rubric

Note on �������
���Budgeting in Health Care
As long as there are scarce resources and alternative uses, an organization will face financial

constraints. Most deal with this by means of an annual budgeting activity. In contrast with pro-
gramming, which looks ahead several years, budgeting generally is for a single year. Ordinarily, it
uses the new programs or product lines that emerged from the programming phase, along with ex-
isting programs and product lines, and attempts to determine the revenues, expenses, and, some-
times, the non-financial (or programmatic) outcomes associated with each.

In some organizations, programs fall neatly into responsibility centers, so each responsibility
center manager prepares a budget for each of his or her programs. Alternatively, it also is possible
that each program is a separate responsibility center, most likely a profit center. When neither of
these arrangements is possible, a more complex, matrix-like structure may be needed,.

It is important for the budgeting phase to fit with the organization’s responsibility center struc-
ture and strategy. To accomplish the latter, line managers must budget for non-financial as well as
financial goals and objectives. Senior management then can link each responsibility center’s activi-
ties to the organization’s overall strategic direction.

Most organizations have two budgets. The operating budget, discussed in this note, focuses on
revenues and expenses on an accrual basis, and is used to measure the financial performance of line
managers. The cash budget forecasts the cash inflows and outflows associated with both ongoing
operations and financing; it is used by the controller or treasurer to help manage the organization’s
cash.

ORGANIZATION OF THE NOTE

The note looks at operational budgeting through several lenses. The discussion begins with the
nature of the operating budget, and the broad context in which budgeting takes place, distinguishing
between budgeting’s behavioral and mechanical aspects. It then looks at the components of the op-
erating budget, and the steps involved in formulating a budget. An appendix to the note discusses
some budgeting misfits, or areas where the budgeting phase may be poorly aligned with other or-
ganizational activities.

GENERAL NATURE OF THE OPERATING BUDGET

It is during the budgeting phase of the management control process that an organization sets
out its plans for the upcoming year, and attaches monetary amounts to its various activities and pro-
grams. Additionally, in many organizations, the budget is used as a central aspect of measuring
managerial performance, which means that the budgeting phase has behavioral as well as mechani-
cal aspects.

Relationship Between Programming and Budgeting

In concept, operational budgeting follows programming but is separate from it. Ideally, the
bud

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R E V : J A N U A R Y 3 , 2 0 1 2

________________________________________________________________________________________________________________

Professor Richard Bohmer, HBS Doctoral Candidate Ethan Bernstein, and Research Associates Margarita Krivitski and Srinidhi Reddy prepared
this case. Professor William E. Fruhan, Jr. prepared the original, non-health-care version of this case, “The Case of the Unidentified Industries—
1995,” HBS No. 296-049. Special thanks to Ted Ho who helped with the preparation of this case. Some customer names are disguised. HBS cases
are developed solely as the basis for class discussion. Cases are not intended to serve as endorsements, sources of primary data, or illustrations of
effective or ineffective management.

Copyright © 2011, 2012 President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-800-545-
7685, write Harvard Business School Publishing, Boston, MA 02163, or go to www.hbsp.harvard.edu/educators. This publication may not be
digitized, photocopied, or otherwise reproduced, posted, or transmitted, without the permission of Harvard Business School.

R I C H A R D B O H M E R

E T H A N B E R N S T E I N

M A R G A R I T A K R I V I T S K I

S R I N I D H I R E D D Y

The Case of the Unidentified Healthcare
Companies—2010

If you were asked to visualize (in income statement and balance sheet form) the financial structure
of a typical firm in one sector of the healthcare industry, do you think you could do it? How close to
your “vision” do you think the “reality” would be? What if you were asked to do the same
experiment covering 14 firms drawn from different sectors of the healthcare industry? How many of
the 14 do you think you would get right? You may be surprised by how much you already know!

Exhibit 1 presents the balance sheets and income statements, in percentage form, for 14 firms
drawn from different sectors of the healthcare industry. Exhibit 2 presents additional selected
financial data. While there are clear differences in the financial structures of different firms within a
single sector of the healthcare industry, the firms selected have figures that are broadly typical of
those in their sector.

Try to match the 14 firms operating in the healthcare sectors named below with the 14 sets of
financial data presented in Exhibit 1 and Exhibit 2. Use any approach you find helpful.

ï‚· Biotechnology (global biotechnology firm engaged in the discovery and development of
breakthrough small molecule drugs for serious diseases; revenues are generated primarily through
collaborative R&D, license fees, and royalties)

ï‚· Community Nursing (national network of branches provides fully trained care workers,
registered nur

2

Organization Healthcare 10-K Form

Student’s Name:

Institution Affiliation:

Course:

Instructor:

Date:

Identify your chosen healthcare organization.

My chosen healthcare organization is Mayo Clinic. Mayo Clinic is non-profit a key academic medical facility situated within Rochester, Minnesota. It is the largest integrated healthcare delivery system in the United States. The organization provides comprehensive diagnosis, treatment, and preventive care for clients from each of the 50 states and more than 140 other countries (Bashar et al.., 2021). The Mayo Clinic is an independent, not-for-profit institution in Rochester, Minnesota, that combines the best in patient care with cutting-edge scientific study. The yearly number of persons helped by the organization is around 1.3 million. Now that I have this background material, I can confidently go on with the remainder of the capstone. Almost 3,300 doctors and scientists work at Mayo Clinic, representing virtually every medical subspecialty. This makes for a comprehensive healthcare organization (Lavanya & Sasikala, 2021). Mayo Clinic also has many hospitals and outpatient centers across the globe. The organization offers comprehensive care to patients from all over the world. Mayo Clinic consists of various departments of workers. The organization has nearly 3,000 beds and provides care for over 1.3 million patients annually.

Briefly describe what the organization does in the healthcare field.

Mayo Clinic is one of the largest integrated healthcare systems in the world. The organization provides medical care to over 1.3 million patients annually. Mayo Clinic has over 3,800 physicians and scientists on its staff and is affiliated with over 50 medical schools and training programs. The organization is also a leading research center, conducting over 3,800 research studies annually (Bonsall et al., 2017). The organization employs over 63,000 people and provides medical care to over 1.3 million patients annually. Mayo Clinic has campuses in Rochester, Arizona, Carolina, and Wisconsin, in addition to these others. US News & World Economic forum routinely ranks Medical Establishment as one of the best hospitals in the world. U.S. News & Newsweek has deemed Mayo Clinic the best hospital in America since it began ranking hospitals in 1990. It has more than 3,300 physicians and scientists on staff and is the world’s largest privately held medical practice. Mayo Clinic aims to “inspire hope and enhance health and well-being by delivering the best treatment for every patient via integrating clinical practice, teaching, and research.” (Dyer et al., 2017).

Ma

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