Fiscal Planning-Financial Management Health Care
Identify a leader in a health care setting who is responsible for fiscal planning and financial management. This person may be solely responsible for financial management or have multiple duties and responsibilities that include fiscal planning and financial management. Request an interview with that person. You may conduct your interview in person, via teleconference, or via videoconference. Use the interview guide you created for last week’s assignment. and other sources to locate publicly available financial information for this organization.
The Interview Guide you created in Week 2 should include 10 questions. Seven questions are provided for you. You should develop three additional questions. You should ask the following seven questions in addition to the three questions that you developed:
- Can you tell me about your role within your organization? What are your duties and responsibilities? How long have you been in this role?
- Can you share with me all of your duties and responsibilities that involve fiscal planning and financial management?
- How does your organization approach strategic planning?
- How do you approach operational budgeting? How does your organization approach capital budgeting?
- What is the most expensive aspect of health care delivery?
- How is health care finance related to the cost of care, quality, value, waste, performance improvement, regulatory compliance, provider relationships, and insurance reimbursement?
- What cost-containment measures has the organization used?
- What is the financial planning model your organization has chosen?
- What are the main factors you consider while employing an additional long-term finance if necessary.
- How does your company’s financial planning method differ from your competitors?
Write a 3-4 page paper in which you report your findings from your interviews and research:
- Indicate the name and title of the person you interviewed. Share some background about their organization, responsibility and role you play with time at the company.
- Share the mission, vision, and strategic priorities of the organization.
- Provide some organizational background (location, size, focus, services provided, demographic of patients served for or nonprofit status).
- Explain all of the financial-related tasks and responsibilities that your interviewee engages in.
- From the interviewer’s perspective, explain how health care finance is related to the cost of care, quality, value, waste, performance improvement.
- Comment the organization’s strategic planning process and its relationship to financial management. Is there appropriate alignment? Support your perspective.
- In a final paragraph, explain what you see as the most important aspect of financial management for health care administrators.
- List 3 professional references.