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Topic: HEALTHCARE FINANCIAL MANAGEMENT

Topic: HEALTHCARE FINANCIAL MANAGEMENT

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Please note the assigment is divided into 2 section, the first section is atleast 100 words with 1 reference for each question. Section 2 is a home work that required answering questions from the course text book with other references and sources. Two additional references to test book. QUESTIONS AND SECTIONS BELOW: TEXT BOOK Finkler, S. A., Purtell, R. M., Calabrase, T. D., & Smith, D. L. (2013). Financial management for public health and not-for-profit organizations(4th ed.). Upper Saddle River: NJ: Prentice Hall. SECTION 1 1.What are the major sources of financing for the federal government, state governments, the health sector, and the not-for-profit sector? 2.Discuss the role of financial management in public service organizations. SECTION 2 You can also access the Online Library from the “My Library” button on the course menu for each course in Blackboard. The Online Library offers several reference services. Librarians can help you develop your research plan or assist you in finding relevant, appropriate, and timely information. Reference requests can include customized keyword search strategies, links to articles, database help, and other services. Unit II Homework Please read the “The DMV” case study on pages 306-307 in your textbook. The questions on pages 307-308 have been modified. Answer the questions below using the information found in the case study and the required reading. Compile your answers in a Word document, and upload it in Blackboard. Answer the following questions: 1.Prepare a monthly operating budget for the DMV for the fiscal year ending August 31, 2014. Determine the operating surplus and deficit for each month and for the year as a whole. Use one page or worksheet in your spreadsheet to list all of the base information, and another for the operating budget. (Hint: It may be easier to prepare the budget if you add a third page or worksheet to calculate the number of transactions each month.) NOTE: Students may access a 60 day trial version and/or purchase the required Microsoft software at http://technet.microsoft.com/enus/evalcenter/jj192782.aspx. The Microsoft trial version can only be downloaded one time. 2.To what do you attribute the changing surplus/deficit pattern during the year? 3.What would happen to the overall deficit or surplus if the number of vehicles failing inspections increased from 15% to 30%? Keep in mind that vehicles must be re inspected, so this would also increase the total number of inspections. Does this give the DMV a reason to make its standards tougher? Is this good policy? 4.Suppose the DMV can decide when to implement the new digitized licensing system. a.What would happen to the finances of the DMV if the new licenses are implemented at the beginning of the year and issued throughout the year? b.What would happen if the new licenses are not implemented at all during the coming year? In either case, assume the total number of licenses issued for any month does not change. Is that assumption realistic? How does it affect your results? 5.What other changes would you suggest that might help the DMV’s situation? What are the advantages and disadvantages of the various suggested changes? Select an approach that you believe is best, create a worksheet showing the resulting budget, and provide an explanation defending your choice of changes.

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