HCM 400 Milestone Four Guidelines andRubric
Submit a draft proposal for Sections II and III (see below). Provide
financial statement analysis, profitability ratios, and ratio analysis to
support the capital budget proposal formulated in Milestone Three. You
must also use financial calculations to support proposal
recommendations and to explain the short- and long-term financial
impact for the organization.
Specifically the following critical elements must be addressed:
2. Financial and Budgetary Considerations
1. Financial Statements: What financial statements will you
utilize in making your proposal, and how will you use these
statements?
2. Proposal Impact: What impact will your proposal have on
the organization’s financial statements? Articulate the
impact using appropriate terminology.
3. Flexed Versus Fixed: How would your proposal be different
if using a flexed budget versus a fixed budget? In other
words, how would the use of one type of budget versus the
other impact your proposal, and how would your proposal
impact the budget? (Evaluate the differences between a
fixed and a flexed budget.)
3. Proposal Justification
1. Ratio Selection: What ratios will you use to support your
proposal and why? Select the ratio or ratios that would be
the most appropriate.
2. Ratio Results: Calculate the selected ratios and articulate
the results using accurate terminology. What do the results
tell you about the viability of your proposal?
3. Short- and Long-Term Impact: Based on your calculations
and financial statement analysis, determine the short-term
and long-term impact on the organization and the
organization’s financials. What is the short-term and
long-term financial impact of your proposal for the
organization? How can you plan to strategically mitigate
the impact on the financials of the company, or how will
your proposal help inform strategic planning in the short
and long term?
HCM 400 Final Project Guidelines and Rubric
Overview
The final project for this course is the creation of a written proposal.
While healthcare organizations differ greatly, managers in various
departments in organizations must propose changes to processes, the
purchase of new equipment, the addition of employees, and many other
changes to executives and boards to obtain approval. For this course,
you will place yourself in the role of a manager in an organization of your
choice. You are tasked with creating a written proposal that will add
value to an organization and will impact the budget. This may come in
the form of adding updated equipment, changing a process to become
more streamlined, and so on. You will be submitting your proposal to
your instructor, who will be playing the roles of CEO and budgetary
board, for consideration. This assessment will require you to defend your
proposal in terms of the value added and the financial impacts to the
organization, as you would need to in the real world.
You will select your organization using the specific guidance provided in
the Milestone Two Guidelines and Rubric document. You must ensure
that sufficient financial information is available to support your work on
this project. You will confirm with your instructor that the topic or area of
interest of your proposal will allow you to sufficiently answer all of the
questions in the prompt below. You also have the option of selecting your
place of employment, within healthcare, as approved by your instructor.
The project is divided into four milestones, which will be submitted at
various points throughout the course to scaffold learning and ensure
quality final submissions. These milestones will be submitted in Modules
Two, Three, Four, and Six. The final project will be submitted in Module
Seven.
In this assignment, you will demonstrate your mastery of the following
course outcomes:
● Articulate key managerial accounting principles in healthcare
using appropriate terminology
● Determine financial impacts in healthcare by analyzing major
forces affecting the delivery of health services
● Utilize financial statements to inform short- and long-term
strategic planning
● Craft high-level proposals that address budgeting consideration
by justifying spending for healthcare services
Prompt
Your proposal report should answer the following prompt: Considering
the major forces in healthcare today, what improvements or changes
would you propose for your selected organization? How would your
proposal add value to the organization, and what impact would your
proposal have in terms of the financial and budgetary considerations?
Specifically the following critical elements must be addressed, but the
proposal that you are creating may require you to address these aspects
in a different order. Please organize your report in the manner that
seems the most logical for your topic.
1. Introduction
1. What are the major forces affecting the delivery of
healthcare today? Discuss these forces and their
corresponding impacts on today’s healthcare environment.
2. Impact of Forces: What healthcare service and delivery
opportunities and challenges exist because of the forces
discussed above? Define the challenges and opportunities
that exist for today’s healthcare leaders.
3. Opportunities: Based on your analysis of the major forces,
impacts, and opportunities provided, consider the specific
organization that you selected. What opportunities exist for
this organization, and how do these opportunities relate to
the big-picture view of healthcare?
4. Proposal: What is your proposal for addressing identified
issues or improvements within your organization? In other
words, what changes are you trying to incorporate in your
selected organization?
2. Financial and Budgetary Considerations
1. Financial Statements: What financial statements will you
utilize in making your proposal, and how will you use these
statements?
2. Proposal Impact: What impact will your proposal have on
the organization’s financial statements? Articulate the
impact using appropriate terminology.
3. Flexed Versus Fixed: How would your proposal be different
if using a flexed budget versus a fixed budget? In other
words, how would the use of one type of budget versus the
other impact your proposal, and how would your proposal
impact the budget? (Evaluate the differences between a
fixed and a flexed budget.)
3. Proposal Justification
1. Ratio Selection: What ratios will you use to support your
proposal and why? Select the ratio or ratios that would be
the most appropriate.
2. Ratio Results: Calculate the selected ratios and articulate
the results using accurate terminology. What do the results
tell you about the viability of your proposal?
3. Short- and Long-Term Impact: Based on your calculations
and financial statement analysis, determine the short-term
and long-term impact on the organization and the
organization’s financials. What is the short-term and
long-term financial impact of your proposal for the
organization? How can you plan to strategically mitigate
the impact on the financials of the company, or how will
your proposal help inform strategic planning in the short
and long term?
4. Closing Statement/ Conclusion
1. Added Value: What value will your proposal add to the
organization? Justify the value or improvement your
proposal will add for the organization, in consideration of
trends in healthcare.
2. Justification of Proposal: How appropriate is your proposal
based on your financial analysis? Justify your proposal
based on the financials and budgetary considerations. If
you feel that your proposal is not appropriate given your
analysis, explain why, with support of your reasoning.
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HCM 400 Milestone Three: HCA Healthcare Capital Budget
Dania Atieh
HCM-400
Southern New Hampshire University
2
HCA Healthcare Capital Budget
C. Opportunities
Opportunities for any organization include aspects of improvement to increase its
business from a revenue generation standpoint. Opportunities can be in geographic expansion,
better communication, and product improvements among others. HCA Healthcare is renowned
for its services in the United States and the United Kingdom (Hcahealthcare, 2023). There are
opportunities for the organization to expand its activities across the United States and also in the
United Kingdom through the increased incorporation of technology. Among the areas of
opportunities for HCA include expansion in other states across the United States, to other
countries apart from the UK and lastly, establishing centers for the treatment of ailments and
acute diseases within specialized centers and in turn enhancing medical tourism. The
advancement of its operations can be enhanced through the increased incorporation of
technology. The presence of technology more so in medical applications provides new
opportunities for medical personnel and patients.
HCA as part of its opportunities to increase revenue generation through increased focus
on mental health that increasingly becoming a challenge. Mental health issues are increasing
globally and in the past ten years, there has been a surge of 23% more so with the advent of the
Covid-19 pandemic (Tsamakis et al., 2021). Digital Therapeutics is one of the ways through
which the company will undertake service provision and offer an initial diagnosis to patients
(Reddy et al., 2019). The services will be offered through a system installed within the enterprise
that will not only provide mental health services but also virtual care to patients. The beauty of
the additional service provision is that the enterprise will not be bound by logistical constraints
and equally cover a larger audience (Reddy et al., 2019). The services rollout will be for mental
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health services coupled with initial diagnosis and consultation for minor ailments in patients. The
service will be purely digital and will be undertaken both in the United States and the United
Kingdom following the prescribed laws for each location.
D. Proposal
HCA Healthcare will increase its personnel to cater to its virtual care patients coupled
with enhancing its information technology capacity to ensure efficient service provision. It
includes expanding its server capabilities coupled with installing an operating system tailored to
meet virtual care service provision. The enterprise will require a project manager to undertake
the entire project to ensure that it runs smoothly and that everything is done correctly right from
the onset. The servers coupled with system installation will be done within one month and will
take the bulk of the funds available within the enterprise. The roll-out will commence in the
United States and assessed over three months after which, the next rollout will be done in the
United Kingdom. The costs of the project are as follows.
Item
Cost
Details
Project Manager
$4,500
Paid every month and will run
both projects (USA and UK)
System Purchase and
$31,900
Installation
A one-off cost that will be
paid in two installments. 50%
when the project
commencement and the
balance once completed
Servers
$86,000
To cater for the expansion
being undertaken to the
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systems within the company
Legal and Human Resource
$6,000
Consultation Fees
To ensure that all activities are
undertaken within the confines
of the law
Total Cost
$128,400
The objective of the entire project is to catapult healthcare beyond physical interaction. Although
necessary, other avenues can be fostered to provide increased healthcare accessibility to patients.
Healthcare is taking on an approach of placing increased emphasis on accessibility which allows
for early detection or diagnosis and mitigation. Virtual healthcare services make this possible
hence its adoption by HCA through the above project. The costs highlighted presented those that
the organization will capitalize and as such, add to its balance sheet within the year of
completion.
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References
Hcahealthcare.com. (2023). Our mission and values. HCA Healthcare. Retrieved April 3, 2023,
from https://hcahealthcare.com/about/our-mission-and-values.dots
Reddy, S., Fox, J., & Purohit, M. P. (2019). Artificial Intelligence-Enabled Healthcare
Delivery. Journal of the Royal Society of Medicine, 112(1), 22-28.
Tsamakis, K., Tsiptsios, D., Ouranidis, A., Mueller, C., Schizas, D., Terniotis, C., … & Rizos, E.
(2021). COVID-19 and its consequences on mental health. Experimental and therapeutic
medicine, 21(3), 1-1.
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