Discuss what an increase in staff turnover would do to the financials of this organization.
STEP 1. Choose a company – should be publicly traded and for profit.
Then provide your own analysis -in about 2 to 3 paragraphs that describe the company. BE clear about….. The company, what services it provides, the clients they serve, the community it serves etc…are in any other aspects of the company you wish to discuss?.
STEP 2. Analyze the financials (you should get from the stock information on the company, or the investor relations tab on the company website – some tabs may “financials” other “investors” etc.. and write your analysis of your understanding of the company’s financial situation. Using key words from the learning materials, chapters, MUSE etc. Discuss your understanding of the company’s financial position and determine whether or not you feel the company is headed for and trending in a good financial direction.BASED on what you did for step 1 and step
STEP 3. Discuss what would occur if the payer mix changed – what if there were big changes to the clients they serve which causes a change in payer mix – what if any impact would this have on operations. Instead of assuming a 20% increase in Medicare, due to the fact that you may want to choose an organization that is not a Medicare provider, just discuss how changes in payer mix impact the financial strategy of the organization. To give you a hint of what I would be looking for think about how different players set rates for different services such as HMOs vs PPOs, vs Gov funded insurance etc. and how they may differ from each other inclue concepts how long it takes to get paid, paper work needed, EHR etc. Also think about costs related to third-party payment or even direct service payment such as collecting costs, billing costs, EHR and other required paperwork.
NOW think about another FINANCIAL issue – high turn over of clinical staff
STEP 4 Discuss what an increase in staff turnover would do to the financials of this organization. Try to see if you can find financials related to hiring costs, human resource costs, recruiting cost and training costs or information on this from published source. Then determine what impact it could have financially on the organization if there were a sudden increase in staff turnover.
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