HS440M3 - Analyze major financial reports used in health care organizations.

Competency Assessment.html

Assessment details

Introduction Assessment Rubric and Minimum Submission Requirements

To receive credit you must complete the competency assessment. You may contact your professor if you have any questions.

This competency assessment (CA) assesses your level of performance on the specific Outcome(s) that are the focus of this module. The CA requires you to demonstrate your knowledge, understanding, and proficiency of the Outcome(s). Be sure to use the other activities in this module prior to attempting the CA. You may attempt the CA multiple times within the term. However, the CA must be completed successfully by the end of the term to earn credit. Refer to your Syllabus for additional information regarding the number of attempts permitted.

Be sure to review the Competency Assessment Rubric to understand the criteria on which you will be evaluated.

Instructors will provide feedback on the CA. If you expect to receive feedback, revise, and resubmit this CA near the end of the term, be sure to follow the guidelines and deadlines for submission in your Syllabus.

Please refer to your Syllabus for additional competency assessment requirements.

This competency assessment assesses the following Outcome(s):

HS440M3-3: Analyze major financial reports used in health care organizations.

GEL-6.06: Apply research to create original insights and/or solve real-world problems.

Imagine that you are the new CFO leading a conference call with hospital leaders to deal with a crisis. Recently, your hospital, community, and state have dealt with the COVID-19 pandemic and you need to assure the team that you have developed a risk management plan to deal with this or a similar crisis in the future. You will need to explain financial statement analysis, financial reporting requirements, and the use of financial information so the team understands where the financial crisis will impact the business's bottom line and the need to have strong liquid assets. You should explain measures such as managing cash tightly and draw on all sources, including taking on additional debt, delaying payables, and discussing early payments with payers and governments. Identify immediate operational actions to reduce costs, rent, utilities, insurance, legal fees, and certain salaries to reduce operating expenses.

Instructions

In this assignment, you will record an audio conference call at least 5 minutes in length.

Topics to include in the call include:

• A description of the financial challenges facing the hospital in the midst of the COVID-19 (or similar) crisis.
• An explanation of financial statement analysis, financial reporting requirements, and use of financial information so the team understands where the financial crisis will impact the business's bottom line.
• An explanation of measures such as managing cash tightly and draw on all sources, including taking on additional debt, delaying payables, and discussing early payments with payers and governments.
• Identify immediate operational actions to reduce costs, rent, utilities, insurance, legal fees, and certain salaries to reduce operating expenses.
• Options to record include (but are not limited to) your computer (PC or Mac), Screencastify, which is a free add-on to Chrome, Zoom, or using an app of your choice on a smartphone or tablet.

Submit your recording link or file to the Dropbox along with your APA formatted references you used to support your oral presentation.

Minimum Submission Requirements

• Proper notification of any resubmission, repurposing, or reworking of prior work per the Purdue Global Student Coursework Resubmission, Repurposing, and Reworking Policy Resource.
• • This assessment should be a recording 5 minutes in length.
  • Respond to the questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions. Your submission should be highly organized, logical, and focused.
  • Your submission should provide a clearly established and sustained viewpoint and purpose.
  • Your video should be well ordered, logical, and unified, as well as original and insightful.
  • Your submission must be presented in Standard English and demonstrate exceptional content, organization, and style.
  • A separate page along with your submission should contain a list of references in APA format. Use your textbook, the Library, and the internet for research.
  • Review the writing resources for APA formatting and citation found in Academic Tools. Additional writing resources can be found within the Academic Success Center.

  If the work submitted for this competency assessment does not meet the minimum submission requirements, it will be returned for revision. If the work submitted does not meet the minimum submission requirements by the end of the term, you will receive a failing score.

Plagiarism

Plagiarism is an act of academic dishonesty. It violates the University’s Code of Student Conduct, and the offense is subject to disciplinary action. You are expected to be the sole author of your work. Use of another person's work or ideas must be accompanied by specific citations and references. Whether the action is intentional or not, it still constitutes plagiarism.

For more information on plagiarism and the University’s Code of Student Conduct, refer to the current University Catalog.

Competency Assessment Rubric