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NURS6211 Finance and Economics in Healthcare Delivery

Week 11 Assignment  

Final Healthcare Budget Request

Once an idea has matured to the point that there is a clear understanding about the organizational and financial impact, there is typically a need to request resources to bring the idea to reality. This is typically done by submitting a budget request in the hopes of getting the idea on the budget, meaning there is organizational commitment to move forward with the idea by planning to allocate necessary resources. This commitment implies that the expenditure aligns with organizational objectives and the financial position of the organization.

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In this Assignment, you will analyze financial statements to determine the financial health of an organization. You will use this assessment as part of a final healthcare budget request.

To Prepare

Reflect on the previous Healthcare Budget Request assignment submissions, including your executive summary, your Expense/Revenue/ROI Analysis, your estimated budget, and your ratio analysis.

Review the Excel Assignment Workbook, W10/11A6 HealthWays Financials tab. These are sample financial statements.

Reflect on the information conveyed by these statements.

If possible, secure copies of your healthcare organization’s income statement, balance sheet, and statement of cash flows. Consult with your internal financial counselor on this, as needed.

The Assignment

Finalize your Healthcare Budget Request by completing the following:

Part 1: Financial Statement Calculations and Analysis:

Open your Excel Assignment Workbook and navigate to the “W10/11A6 Financials” worksheet.

You have 2 Options for completing this Assignment as noted in the Excel Assignment Workbook.

Using the Healthcare Budget Request Guide for guidance, conduct analyses as directed on either your organization’s financial statements or those provided in the HealthWays Financial Statements worksheet. Your analysis will include spreadsheet calculation of financial statement ratios.

Part 2: Summary of Analyses and Interpretation of Results:

Create a brief (1- to 2-page) description of your analyses. Be sure to address the following in your summary:

Describe the results of each statement analysis. What do the results of each analysis mean?

What does your complete financial statement analysis suggest about the financial health of the organization?

If using your current organization’s data, does your analysis help describe any observed organizational behaviors or actions? Explain.

What assumptions have you made in your analyses?

What implications do these analyses have for your proposed healthcare product or service?

Part 3: Summary of Work and Final Healthcare Budget Request

Compile and summarize your work in previous assignments. Place your final work on the Healthcare Budget Request template. Your final Healthcare Budget Request should include:

A final version of your Executive Summary

A final version of your projected expenses and revenues

A product/service budget for the launch and the first 5 years

A summary of financial and SWOT analyses that you conducted, including your interpretation of the results

A 3- to 5-slide PowerPoint presentation containing the final version of your elevator speech, incorporating selling points from your analyses that you believe make the business case for nurse entrepreneurship and leadership’s commitment to your proposed healthcare product or service.

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